Overcoming Fear in SMEs: Guiding Smaller Businesses Through Fear of Implementation
In the UK, an estimated 100,000 mid-market organizations are still relying on outdated finance systems, a trend that's causing concern among Finance directors (FDs). The term "implementation" often evokes fear among these FDs, with past experiences of ERP implementation being linked to high costs, disrupted operations, and a long process.
However, the widespread adoption of cloud systems is a recent trend in organizations, and solutions purpose-built for SMEs can often be implemented in as little as 15-20 days. This efficiency demonstrates the benefits of modern solutions and helps reduce anxiety.
Jonny Billington, UK sales lead at implementation consultancy Xplor Solutions, emphasizes the need for understanding and education when guiding customers through the implementation process. By empathizing with customer concerns and framing change as incremental rather than disruptive, partners can help make the process feel less intimidating.
One of the primary fears among FDs is losing historical data during implementation. To address this concern, cloud solutions with open application programming interfaces (APIs) allow for the easy migration of historical data from other systems into read-only data archives.
Cost is another barrier for some FDs, with 23% citing the cost of changing finance systems as a concern. 32% express worries about Right to Use (RTU) licenses. Tech partners can play an important role in articulating the benefits of transitioning to a modern system and challenging negative perceptions of tech implementation.
A lack of digital skills and fear of distraction from core day-to-day responsibilities are other barriers cited by mid-market FDs. Effective training and post-implementation support can remedy these challenges, ensuring the system upgrade is perceived as positive by everyone on the finance team.
Partners that stay involved in the months following implementation, offering training and troubleshooting issues, can deliver immense value and ensure the system upgrade is a success. Tech resellers and implementation partners can help alleviate concerns and make system upgrades an enjoyable, stress-free experience for SMEs, but only by understanding the origins of implementation hesitancy.
Many mid-market organizations are still reliant on legacy, on-premises finance systems. This reliance often keeps them anchored to their outdated, inefficient systems. For FDs, a failed implementation is often viewed as a career-defining failure.
Despite these challenges, some businesses, especially in fast-growth sectors like SaaS, have been cloud-first from the start. These businesses understand the benefits of modern systems and the potential they hold for streamlining operations and improving efficiency.
One of the most significant issues faced by many businesses is the inability to submit month-end accounts within seven days due to manual data entry and outdated finance systems. By upgrading to modern systems, businesses can automate these processes, improving accuracy and speed.
In conclusion, by addressing the fears and concerns of mid-market FDs and providing effective training and support, tech partners can help these organizations transition to modern finance systems, improving efficiency, accuracy, and streamlining operations.
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