Financial Systems Design and Implementation

The impact of Information Technology on business cannot be over-emphasised. To achieve maximum results from IT use, a business must carefully plan and design its systems before implementation. Technological advances have created an environment of rapid growth, and accounting has evolved in complexity to match — from the days of Luca Pacioli, the father of accounting, through manual calculators, to today's computer age and information technology.

IT is used to process data into information in a format that reflects business operations as per users' requirements and expectations. This creates the need to design systems in line with management's reporting expectations. We assist our clients in designing and implementing appropriate financial systems tailor-made to their requirements.

Accounting software is generally classified into tiers, from basic applications to those that combine all business functions. Off-the-shelf packages such as QuickBooks, Pastel and Sage are designed for small to medium sized businesses with less complicated accounting needs, while larger firms may prefer custom-built software or Enterprise Resource Planning (ERP) systems for complete integration across all functional departments.

Through computerised accounting, the role of accountants shifts from entering repetitive transactions — receivables, payables, inventories and payroll — to taking centre stage in their companies, handling greater responsibility and participating in broader business issues.

When advising clients on financial systems design and implementation, we ensure the recommended system:

• Is cost effective and achieves a sound return on investment.
• Is able to integrate all aspects of the business.
• Is able to harness the internet, powerful databases and network technologies to extend information, applications and processes to employees, customers and suppliers.
• Is supported, tried and tested.
• Is flexible enough to allow for business changes.
• Is strongly secured, with security features that are hard to crack by unauthorized persons.