Whenever businesses face mergers or acquisitions, there are bound to be significant organizational changes. Transitions in leadership and management philosophies mean that accounting methods may also change. This presents an excellent time to consider migrating to new accounting software.
2009 was a slow year for M&A. But according to a
With this type of optimism, it stands to reason that CEOs and boards will be more likely to pursue mergers and acquisitions. As they make the transition, they should compare accounting software currently on the market and evaluate the software they currently use. By changing software during transition, they avoid the expense of having to train new staff on software they intend to replace one, two, or even five years down the road. If they plan to switch during the acquisition/merger, they can train everyone on the new software.
When you acquire a company, there is a good chance you will have two different account software systems. In such a situation, it is best to evaluate which one you will keep and also consider replacing both with a new one. Throughout the evaluation process, you will need to consider the cost and work involved in data migration and user management (if you are adding new staff to the system). In the end, you should select the best accounting software package for your organization while you still have that acquisition money in hand. With advanced planning, you can work the migration into your acquisition/merger budget and be prepared for the change.
If you are merging with or acquiring a company using Microsoft Dynamics GP, or you want to evalute replacing existing software to standarize on Microsoft Dynamics GP contact us at CAL Business Solutions 860-485-0910 x3102.
by CAL Business Solutions, Connecticut Microsoft Dynamics GP Partner