Finance Information Technology

How to make the right choice?

All Chief Financial Officers (CFOs) eventually have to choose an Information Technology system. It is a complicated decision, due to the wide range of Information Technology systems available, which all differ in their content and form, and cannot be taken without careful thought. Before selecting a solution, business needs should be qualified, while factoring in the characteristics of the company’s technical and organizational environment.

Challenges

Information Technology offers businesses opportunities to improve their performance, but can also prove to be a hindrance or a risk. It is therefore critical for decisions and projects to be managed according to business needs, while optimizing Information Technology ownership costs.

Three key stages must be secured to ensure good decision-making:

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Profiling of the existing Information Technology system:

  • Definition of the functional scope (main accounting and financial processes)
  • Analysis of the group's IT blueprint, to define impacts and interaction with the other systems
  • Analysis of representative Business Units (BU), in order to establish:
    • A roadmap of existing architecture and applications supporting the functional scoping process
    • The level of standardization of management rules, benchmarks, and key processes
    • Organizational models.

Definition of the functional target:

  • Design of the target processes and benchmarks required to draft the general specifications for the solution
  • Creation of a benchmark based on companies presenting similar characteristics
  • Qualification of the degree of functional integration with known systems
  • Study of existing Information Technology systems on the market
  • Development of the Business Case (based on market information).

Technical validation, as part of the invitation to tender:

  • Definition of the functional scope of the invitation to tender
  • Subdivision of the project (compulsory and optional parts)
  • Definition of technical characteristics of the solution
  • Definition of functional characteristics of the solution
  • Drafting of the business case to enable developers to create a model
  • Analysis of bids and selection of the solution and its integrator

 

How can Argon Consulting help you?

Argon Consulting supports its clients in choosing and implementing a Finance Information Technology system by providing project management support and operational expertise in change management (developing cultures, behaviors, skills, training and communications, etc.).