3 CFO tips for navigating ERP migration challenges

Migrating your data to the cloud – especially sensitive information such as finances or patient data – can feel like a daunting task. Sensitive data requires requires investment, meticulous planning, and the potential for temporary disruption to daily operations. However, the benefits of a cloud-based enterprise resource planning (ERP) system will make the challenges and concerns worth it in the long term. Lee An Schommer, chief product officer and general manager of FP&A at insightsoftware, shares an article on CFO Dive which provides three key tips for CFOs to navigate the challenges associated with ERP system migrations during digital transformation efforts.

1. Derisking the migration. “Planning is a critical first step. The data migration process presents significant complexities and risks, such as downtime, especially when implementing a hybrid model where data consistency between on-premises and cloud environments is paramount.”
2. Choosing the right software. “When deciding, carefully consider your business needs and goals, software integration capabilities, the implementation process, and the importance of an intuitive user interface to minimize your team’s learning curve.”
3. Empowering your team. “Early and comprehensive employee training on the new ERP system is essential for smooth transition and continued productivity during migration, as is increasing their self-reliance with a new system, freeing up your organization’s technical resources to focus on other optimization efforts, such as implementing AI initiatives.”

By following these strategies, CFOs can mitigate risks associated with ERP migrations and better position their organizations for successful digital transformation.

For Full Article, Click Here