Procrastinating

A common shortcoming for any workplace is procrastinating, and users of cloud accounting packages can similarly find themselves. The subscription is on and yet the service is not being utilized to its full, despite knowing the full capacity. The problem is that there is already a fully functioning IT based finance system, possibly on an e-commerce platform and there is the hesitation to actually to get started. It is tempting to have a parallel system because there is confidence in the current system working and that is prudent during the testing stage and an initial run.

At some point, the plunge needs to be made. There needs to be confidence in the users’ own ability. Many customers have used the cloud accounting system, so be brave and just get on with it. There may be mistakes made, but IT experts and accounting experts have well designed the system. You can only develop your cloud accounting skills by using the system.

Misjudging Change Required

A drawback in implementing the newly subscribed cloud accounting system is not recognizing the amount of change will be required. The package has been sold as a great solution but, users do have to transfer data, the cloud accounting provider is not responsible for the accuracy of data. It can seem quite daunting to make those changes and sometimes, the allocation of resources to implement those changes may be difficult, especially for small companies. Ultimately, this needs only be a temporary problem.

Being Led and Not Leading

During the planning stage, it is wise to talk to customers about the impact of cloud accounting practices and encourage suggestions. Be mindful that this is the users accounting system and not that of the customer. Judge carefully the impact of suggestions from customers, how will those requests’ effect future workloads and data analysis capabilities.

Poor Processes

A subscription to a cloud accounting system is not necessarily the route to a successful operating method for financial management. An end-to-end solution is imperative for improved financial practices, and anything less could be demoralizing when the new system is up and running. A robust testing system needs to be in place to prevent long-term issues.

Lack of Preparation

Priorities within any organization are the day to day activities, which in many successful businesses have been meticulously planned, risk analyzed with plans for mitigation. Processes outside of those directly related to delivering goods and services can sometimes be decided upon almost impulsively. Preparing well for a cloud accounting system is vital to business continuing and long-term improved financial management.

Poor Training

Ensure that all team members who will use the cloud accounting package receive the training. A cheap option is to have some of the team trained and cascade the knowledge down to the broader team. While this may make savings in purchasing costs, it may be short-lived because the reliance on knowledge transfer is from the inexperienced to the inexperienced. This can only lead to knowledge sharing at the basic levels. Incorrectly interpreted information is at risk of being shared as correct facts.

Consider offering training to customers, although make sure your team are well versed in the cloud accounting package that you are using beforehand and able to answer queries. Ideally, arrange for your cloud accounting provider to deliver the training to your customers.

Lack of Support

Ensure that you have a user-responsive support package in place. Relying on training could lead to errors, omissions, and not using the full capacity of your chosen cloud accounting package. Be cautious and assume that you and your team may need a lot of support during the initial stages of using your package. It is only a small investment worth making.