Five Keys to a Successful Financial Migration for SMBs

Five Keys to a Successful Financial Migration for SMBs

Is your small- to medium-sized business (SMB) finally moving your financial accounting software from your server in the basement to the cloud? If so, that’s a great decision!

However, successful migrations aren’t easy without help. Here are five tips on how to seamlessly move through this critical process and start enjoying the benefits of a cloud ERP solution. 

  1. Build the perfect timeline for the migration: Planning the right time of the year is critical. Determine your own busy periods and avoid them. If you’re starting an implementation, give yourself 90 to 120 days to pick a kickoff date for the project. From there, work backward to time evaluations and decision-making. Assume a 45- to 60-day sales process to work toward that deadline. This allows time before completing the contracts for an evaluation period.
  2. Pick the right vendor by asking around: Evaluate possible vendors as much as possible before engaging in the sales process. Referrals are highly important. And remember, you can learn a lot from a company and its solution before you ever commit to entering the sales process. In other words, know what you want and need, and make sure the system provides those features. Some companies make the mistake of jumping into the conversion process and must learn about the software along the way. This is a bad idea because you might get directed into a point of view that’s not in your best interest. Vendors that provide evaluation tools and white papers are most likely to have a good sales process, because they expect you to evaluate them. Peer evaluation can provide authentic “from-the-trenches” views on the software.
  3. Avoid hidden costs and fees: Make sure you clearly understand what you’re paying for. The value of the cloud is that it removes a great deal of costs — hardware, support, maintenance, etc. — that are ongoing but not always considered appropriately. Often, the biggest problems occur when companies don’t understand a contract or deliverable. Scope creep happens because companies keep asking for features not included in the original price. Deployments will last longer and cost more if you don’t read the fine print. This is why you must demand a fixed bid.
  4. Don’t undervalue the cloud: Don’t dismiss the value that the cloud brings. Avoid getting hung up on license or monthly subscription fees. Instead, look into the lowest total cost of ownership. Your on-premises financial accounting software solution won’t seem so cheap if you calculate all the costs to maintain and upgrade the system. And remember, a cloud ERP system includes updates to the tax code, service packs, tech support and many other additional services within an application that you need but will never have to ask for.
  5. Always review deliverables: Be clear about the deliverables. Include these expectations in excruciating detail. Otherwise, you’ll hear this phrase: “That wasn’t included in our estimate. It’s extra.” Get everything in writing as part of the statement of work (SOW) before you sign any contracts. If something you expect isn’t contained in the SOW, make sure it gets added and that the provider tells you if it’s not.

You’ve made the right move! You’ve decided to empower your financial accounting efforts by moving to the cloud. Just make sure you comb through the fine print and put everything in writing. If you do, your migration to the cloud should be a great experience.

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.