As popularized by Dr. George Land as part of his Transformation Theory, it's Grow or Die for any type of organization. Because you can't grow without change, change is the only constant and it's critical that your accounting software helps you keep up with change.
After all, your accounting software is the leading tool for tracking and reporting on mission critical financial health—and will either enable you to keep up with change and achieve your organization's strategic and financial goals over time, or be one of the largest obstacles in trying to do so.
Sadly, too many organizations put up with legacy or off-the-shelf "shrink-wrap" accounting software packages that holds them back from understanding what is profitable and what is holding them back. This includes visibility into the profitability of each product, service and business unit.
Often, this is because they did not take a best practice approach for selecting and implementing their current accounting software. Additionally, mergers and acquisitions often result in a patchwork system that does not work well, and just about any type of software will reach its end-of-life in 5-10 years. A heavy reliance on spreadsheets and email are classic symptoms of these issues.
This whitepaper outlines a best practice approach for selecting and implementing accounting software that will effectively serve you for the next 5–10 years.