Hiring a consulting firm can be a textbook good news/bad news situation: The good news is you’ve concluded you need help with whatever it is you’ve concluded you need help with. The bad news is you’re now faced with options you may not have anticipated. Here’s why:
In most instances, we only have to ignore one elephant in the room at a time. But when it comes to the conversion or updating of investment systems and data, the room could end up packed with a passel of pachyderms if you’re not careful. Here are just the beginnings of the herd:
No one would deliberately drive off a cliff. We get that. But most companies that are headed for a precipice don’t even know they are. In fact, they’re usually well-intentioned, serious of purpose, and very intent on what they’re doing — so intent they forget to look up. That’s when the trouble starts.
Even with common objectives, IT departments and business users can end up working against each other, resulting in bad feelings between them and dissatisfaction with the results. That’s because the IT and business sides of the house don’t see things the same way.
Selecting and implementing a new accounting system isn’t easy. A committee has to select the software. The contract has to be negotiated. Then the implementation comes with common myths vs. harsh realities.
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