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Solutions Summit 2014
Corporate Rollout
Jonathan Haynes, CPA, CGMA and Kelly Darren, CPA
Chesapeake System Solutions, Inc. • Proprietary and Confidential
The Law of Momentum:A project in motion will stay in motion until it meets a resisting force.Eliminate Project Resistance to Keep the Project Moving Forward…..
Chesapeake System Solutions, Inc. • Proprietary and Confidential
State of the As-Is Process
Organization’s prior to T-Recs are experiencing:
• Increased Requirements from Management
• Performing More with Less
• Expedited Close Timing
• Increased Control Risks
• Significant Manual Processes
• Lack of Visibility
• Disparate Systems
• Extensive Audit Requirements
Chesapeake System Solutions, Inc. • Proprietary and Confidential
New Software Expectations
• Automation
• Visibility
• Control
• Segregation of Duties
• Dashboard Reporting
• Workflow
• Risk Assessment
• Dependent Task Tracking
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Project Team Enthusiasm
Excitement Around T-Recs:
• New Tool
• Easy to Use
• Significant Process Improvement
• Automation of Manual Tasks
• Day to Day tasks Simplified
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Why is the Project Stalled?Organization’s should ask the following questions regarding their project:
• Why is the Organization only using limited functionality?
• Why is the application limited to specific accounts?
• Why is the software only used at certain locations?
• How did the project get off track?
• How can an organization create MOMENTUM?
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Reasons for Derailment
Reasons the Project Objectives Change:
• Company Objectives
• Competing Projects
• Lack of Resources
• Resistant to Change
• Not Broke Why Change It
• New System Admin
• Unsure of What Module should be Next
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Creating MomentumThe project team should employ the following to create momentum at the start of the project or to re-initiate momentum if the project should stall.
• Executive Sponsorship
• Create a Clear Roadmap
• Employ a Strong Project Manager
• Initiate a Detailed Project Plan
• Parallel Functionality Where Applicable
• Identifying Measures for Success (metrics)
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Maintaining Project MomentumIt is not enough to start momentum but to actually maintain the momentum through all of the project life-cycles.
• Assess and Review the Plan Semi-Annually
• Keep Up with the Latest Software Releases
• Review and Implement New Features
• Perform Health Checks on the Process and/or System
• Document What is NOT Being Used
• Review Metrics
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Key Components of a Good Plan
A clearly defined plan is key to a successful project:
• The end goal must be clearly defined
• Key stakeholders must be identified
• Milestones should be clearly communicated and documented
• Should be granular enough to measure, but not so detailed as to lose focus on the bigger picture
• Realistic timing and scale based on resource availability and goals
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Many projects start with cash as the initial phase, but value is easily realized in other account types:
• Inventory counts can be reconciled between POS, Physical Count, and the GL
• Accruals can be reconciled and verified at a detailed level to clearly track the age and validity of the line items
• Intangibles and Prepaids can be systematically amortized and compared to the GL
• Intercompany can be matched and reconciled to identify out of balance conditions
Driving Value Beyond Cash
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Many projects focus on the SmartMatch and the Reconciliation functionality in the initial phase, but value is easily obtained by leveraging other features:
• SmartResolve Procedures is a transactional workflow that supports routing exceptions, initiating emails or comments, generate journal entries, etc. automating a typical manual process.
• Process Manager facilitates the tracking of the close checklist, Auditor PBC list, reporting requirements, SOX requirements, one-time projects, etc.
• Risk Assessment systematically evaluates and reports unusual activity within an account balance or set of transactions and classifies the account based on an organizations rating system.
• Journal functionality provides robust workflow while eliminating the manual storing and printing of standard and non-standard journals.
Other Features to Drive Value
Chesapeake System Solutions, Inc. • Proprietary and Confidential
Management buy in is key to moving a project forward within an organization. With management support, projects can obtain the necessary resources, adoption of the application and overall process acceptance.
Management Pitch:
• No additional software costs required to utilize the additional features as the software is a single solution
• More features utilized the greater the return on investment
• Users are already familiar with the software so new feature acceptance would be high
Selling it to Management
Thank you for your attention
Jonathan Haynes, CPA, CGMAManager, Financial Solutions
jhaynes@chessys.com
Kelly Darren, CPAManager, Financial Solutions
kdarren@chessys.com
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