Finance systems implementation should begin with reporting and controls

Specify the outputs first

Define the reports, reconciliations and management information the finance function needs. Translate those outputs into data requirements, chart-of-accounts design and workflow requirements. This helps prevent a system configuration from becoming the starting point for every accounting decision.

Design ownership and controls

Identify who enters, reviews, approves and changes data. Consider access permissions, change approval, reconciliation and exception handling alongside the process design. Controls need to work in the daily workflow, with evidence that the responsible people can retrieve.

Test migration and realistic scenarios

Reconcile migrated balances and relevant historical information to the source records. User acceptance testing should include ordinary reporting cycles and material exceptions, such as corrections, allocations, intercompany activity and amended inputs. Document expected results, differences and resolution.

Plan stabilization after launch

Assign owners for post-launch issues, reporting checks and unresolved dependencies. Monitor the first closes and confirm that the team can run the process without informal workarounds. Path can support requirements assessment, implementation oversight, migration reconciliation review and testing oversight, with a defined period for post-launch reporting checks.

This article provides general process considerations. The appropriate approach depends on the organization, reporting framework and agreed responsibilities.