Upgrade or Replace?

If you've been using financial software for a few years there will come a time when you will be invited to upgrade the software, either due to business expansion or to avoid losing support. Many people like to take the opportunity to review alternative software to cover various possibilities such as:

• FUNCTIONALITY: The business is likely to have changed. New types of business may have been added, the business may be much larger or smaller, and different personnel may have different preferences.
• MANAGEMENT INFORMATION: Reporting may not be fulfilling the business needs, especially for use on mobile devices
• EFFICIENCY: Different software may provide different functions for more efficient processing
• REMOTE ACCESS: Cloud-based software and hosting options have advanced significantly in recent years, and may provide a more practical solution where access is required from multiple locations
• SUPPORT: Problems with the effectiveness of support
• COST-EFFECTIVENESS: Suitable software solutions may be much cheaper than the existing solution, especially if support costs are currently expensive

Camwells can help you review the market, on a completely independent basis. Does it make sense to change, or is it best to upgrade the existing system?

A thorough review of requirements is needed. Even if internal staff have the skills, they rarely have the time. Camwells can provide both.

As an example, we helped an AIM-listed business review their accounting and order processing systems prior to a large anticipated increase in sales of a new product. We found that:

• The accounting modules were basically sound
• But the order processing modules had few other users, and the support company did not understand these modules. As a result there were major problems with the support service.
• Sales reporting was a major issue, for which no clear solution was available
• Whilst most requirements were fairly standard, the new product was a fuel additive that involved Fuel Duty. This meant special requirements for sales invoicing and tracking duty.

So:

• We compiled a User Requirements Specification to cover all the key business requirements, including reporting, special requirements and core requirements. Nothing important can be assumed to be available in alternative software.
• This document was issued to potential suppliers as a "Request for Proposal", including the incumbent supplier, alternative suppliers of the existing software, and suppliers of alternative software
• This was followed by discussions and software demonstrations with short-listed contenders
• A visit to the incumbent supplier made it clear they were not interested or capable of providing a suitable support service, and so were ruled out.
• A final choice needed to be made between a better supplier of the existing software, or making a change. Both required a significant investment.
• Whilst there were pros and cons, a decision was made to change systems. There was concern about longevity of the existing order processing modules given their low usage, and the alternative system was generally easier to use.
• In slightly different circumstances the existing system would have been retained.

The independent and thorough assessment of options by Camwells allowed the client company to move forward confidently, with support of all the key people involved.

If you would also find such an assessment useful, do call Chris Challis on 07836 774439.