Getting to “Go-Live”: Finance’s Critical Role in Technology Implementation Readiness

Avoid go-live technology failures! This guide provides practical steps for finance teams to achieve business readiness, covering key challenges, essential activities, and skills for a successful transition.

Successfully implementing new technologies requires meticulous planning and execution. While technology is crucial, the success of any technology-enabled transformation hinges significantly on the preparedness of the business, particularly the finance function. This blog post, informed by Deloitte's experience in finance transformation, highlights the critical role finance plays in achieving "go-live" readiness and avoiding common pitfalls. The insights are drawn from real-world experiences and best practices.

Poll 1: is your organisation’s controllership and/ or finance function involved in tech implementation efforts?

Defining Business Readiness

Business readiness isn't simply about the technology working; it's about ensuring users are equipped to effectively adopt and utilise the new technology to execute business processes efficiently from day one. A lack of business readiness often leads to unforeseen challenges, particularly in the final stages of implementation. Many of these challenges are preventable with proactive planning and engagement from the finance function.

Key Challenges in Achieving Business Readiness

Several common challenges hinder successful go-live:

Difficulty in Operationalisation: Future-state processes are often high-level, lacking the detail needed for a smooth transition and Day 1 operations.
Lack of Consensus: A unified vision and alignment across stakeholders are essential for a successful cutover.
Getting Started Too Late: Business readiness activities often begin too late, just weeks before go-live, leaving insufficient time for thorough preparation.
No Backup Plan: Contingency planning for potential business interruptions during the transition is crucial.
Exclusion of Stakeholders: Involving all relevant stakeholders in communications, design, training, and cutover is vital.
Functionality-Focused Testing: Testing should go beyond basic system functionality to encompass system integrations and data accuracy.

Poll 2: Does your organisation have a strategy in place for controllership and/or finance functions to guide the implementation of new technologies?

Does your organisation have a strategy in place for controllership and/or finance functions to guide the implementation of new technologies?

Key Activities for Day 1 Readiness

To ensure a smooth transition and maximise the benefits of new technology from day one, finance teams must meticulously plan and execute these key activities:

1. Well-Designed and Documented Business Processes and Governance: This goes beyond simply outlining steps; it's about creating a robust framework for how the new system will be used. This involves:

Develop Detailed Standard Operating Procedures (SOPs): Clear, concise SOPs are essential. They should clearly outline each step required to complete a task within the new system. These detailed processes should be shared during training to ensure consistency and reduce errors. Think of them as your user manual, but more comprehensive and tailored to your specific workflows.
Define Clear Responsibilities: Ambiguity is the enemy of efficiency. Clearly define ownership for processes, technology, and data at all levels – team, individual, and role. This clarifies accountability and prevents confusion.
Continuous Process Optimisation: Go-live isn't the finish line; it's the starting point for continuous improvement. Actively solicit feedback from users and use change management techniques to incorporate this feedback and make iterative improvements. Regularly review and refine your processes to ensure they remain efficient and user-friendly.
Regular Performance Monitoring: Proactive monitoring is key to preventing problems. Track key metrics, review audit logs, and conduct regular system checks to identify and address errors and inefficiencies early. This prevents the accumulation of small issues that can significantly impact overall performance.

By focusing on these four key areas, you can ensure your business processes are well-prepared for the new technology, leading to a smoother transition and a more efficient operation after go-live. Remember, a well-structured and documented process is not just about the technology; it's about empowering your team for success.

2. Effective Training and Communication: Effective training is crucial for user adoption and successful go-live. The business should be involved from project start date in defining effective training strategies to maintain relevance, reduce irrelevant content, and avoid unnecessary redundancy for trainers and trainees.

Engage Business End-Users and Key Stakeholders from the Start: Involve users and stakeholders from the beginning to align on training strategy and objectives. This ensures the training is relevant and addresses their specific needs.
Identify Trainee Profiles for Different User Groups: Understand different user groups, their backgrounds, needs, and expectations to tailor training accordingly. This ensures the training is effective for everyone.
Develop Tailored Technology and Process-Based Training Content: Develop technology and training based on different stakeholders' requirements. This ensures the training is relevant and addresses their specific needs.
Socialise the Training Plan and Materials: Share the training plan and materials with key stakeholders to gauge their opinions on relevance and acceptance. This ensures buy-in and addresses potential concerns early on.
Set Up an Open Communication Channel: Collaborate with a specific contact to receive and address feedback and concerns throughout the transformation. This ensures ongoing support and addresses any issues promptly.
Select Different Training Methods: Consider the audience's characteristics for effective adoption and results. Use a variety of methods (e.g., online modules, instructor-led training, hands-on workshops) to cater to different learning styles.

Poll 3: In the next 12 months, which technology is your organisation likely to prioritise the most for the implementation within its controllership and/or finance functions?

In the next 12 months, which technology is your organisation likely to prioritise the most for the implementation within its controllership and/or finance functions?

3. Comprehensive Testing: Simply ensuring the technology works isn't sufficient. Your testing strategy must verify that the implemented solution meets the diverse expectations and requirements of end-users and enhances organisational efficiency. This requires a multi-faceted approach:

Develop a Detailed Testing Plan: Clearly define the scope of testing, including functionality testing and cross-functional handoffs. For example, map out the testing process for the General Ledger (GL) close, including all relevant integrations and data flows.
Perform Detailed End-to-End Testing: Test to confirm the system correctly and efficiently generates all required data and documents from an end-to-end perspective. For example, test the entire process of generating a financial report, from data entry to final output.
Validate Outputs: Ensure outputs (like accounting documentation) are generated with the correct attributes (profit centre, cost centre, GL accounts, etc.). For example, verify that all journal entries are correctly posted to the appropriate accounts.
Perform Reconciliations: Don't overlook the importance of system integrations and data accuracy. Perform reconciliations from a finance standpoint to ensure data integrity. For example, reconcile the balance sheet data generated by the new system with the data from the legacy system.
Perform a "Dry Run" or "Parallel Run": Before the official go-live, run the new system alongside the old system to identify any discrepancies and ensure a smooth transition. This allows for adjustments before the full cutover. For example, run a parallel month-end close process to identify any issues before the official transition.

Poll 4: In the next 12 months, which is likely to pose the greatest challenge to your controllership and/ or finance function’s technology implementation efforts?

In the next 12 months, which is likely to pose the greatest challenge to your controllership and/ or finance function’s technology implementation efforts?

Critical Capabilities and Skill Sets

Building a successful business readiness team requires individuals with specific capabilities:

Process Mastery: A profound understanding of current processes and how they will evolve with the new technology.
Visionary Focus: The ability to articulate the envisioned future state and the changes needed to achieve it.
User-Centric Perspective: Foresight into end-user interaction with the technology and their needs for successful adoption.
Empowered Leadership: The ability to drive stakeholders towards coordinated action.

Measuring Success and ROI

Finally, establishing methods to measure the success and return on investment (ROI) of new technologies is crucial. This involves defining key performance indicators (KPIs) and tracking them post-go-live to assess the impact of the implementation.

By actively participating in these areas, finance teams can significantly contribute to a successful technology implementation, ensuring a smooth transition and realising the full potential of the new system. Deloitte's expertise in finance transformation can provide further guidance and support in navigating this complex process.

Poll 5: Does your organisation’s controllership and/ or finance team have a way to measure the success or return on investment (ROI) of new technologies it implements?