Implementing a New Financial System

Changing an Organization's Financial System The main reason for changing the financial system was to ensure that the new system could easily be integrated with the other systems within the organization. The current system had created issues when there was an attempt to integrate it with the other systems. The lack of integration had also caused problems with data transfer and importation of data from other systems.

Users had complained for a long time regarding the need for integration and this ensured that it would be easy for them to adapt to the new system. With proper buy-in from the users and the management the change was expected to run smoothly. However, it is always vital that the organization be prepared for any resistance from users due to the changes being implemented. Changes bring with them disruption and human beings tend to resist any change.

The change being proposed might be beneficial for the whole organization, but some people feel like it will bring with it additional work or make their processes different. This is what causes differences and resistance. The company is an investment company, there was a need for the organization to streamline its operations and processes. By integrating the systems, the organization would be able to create cohesion between the data that is being shared within the organization.

Preparing for the new system begun with the employees undergoing a workshop to demonstrate how the new system will easily integrate with the other systems. Current users were also undertaken through training and the major processes for the new system. Employees were prepared early enough and they understood what the new system would offer (Arnold & Wade, 2015). With buy-in from the users and the management, preparation shifted to purchase of the requisite equipment (computers and servers).

This was geared towards ensuring that the equipment the organization had would be able to meet the requirements of the system. Data entry would be done beforehand to ensure that once the new system is implemented operations would run smoothly. Training was scheduled to continue even after the new system has been implemented within the organization. This would offer the employees the opportunity to practice using the system under the watchful eyes of the trainers.

Practical training with live data would also ensure that the employees understand how the new system operates. With this understanding, it would also be easy for them to train other users. The organization had ensured that there are change champions who were charged with ensuring that the employees were motivated to embrace the new system. Change champions are charged with communicating about the new system and the changes that they organization would undergo.

The transformations are communicated using these champions because they can easily integrate and relate well with the other employees. As has been noted, the organization had made use of change champions who are mostly charged with ensuring that employees understand the implications that the system will have on the organization. Facilitating for the change, the champions will be the link between the management and the employees.

With the new system, it would now be easier for the employees to process information almost at real-time and changes within one system or area will be reflected immediately. This makes it easy for the employees to note and make changes accordingly without having to delay due to lack of integration. Information that is shared in real-time can be acted upon much faster and any business that is time critical can be handled almost immediately (Peters, 2014).

Streamlining the internal processes will also ensure the organization is able to process customer requests immediately. With the current system, all customer requests have to be manually entered into the financial system and this is done twice in a day. This means that any data that is not entered in time will only be acted upon the next day and this delay was not appreciated by customers. Transforming of the inputs into outputs without delays was necessary.

The organization needed to change its processes and have an integrated system in place. This system would allow for the quick processing of data and it would assist in decision making for the management. Integration of the systems allowed for the organization to increase its productivity since there were no long delays in employees acting on the data received. This was also beneficial to the organization's bottom line. Investments are done in real-time and people strike deals almost instantaneously.

Therefore, there was a need for the organization to ensure that it does not miss out on these opportunities. Using the new system, the organization was able to reduce its turnaround time and process customer requests as fast as they were being made (Kunze, Wulfhorst, & Minner, 2016). Embracing this new technology increased the organization's outputs and customer satisfaction was also improved. The outputs of the new system were increased profits for the organization.

Although, in the first year the company was still recouping the costs it had incurred in the purchase of equipment and the system. There was increased productivity of the employees and the management of the organization could see the potential of the new system. Employees were more content with the system and most expressed they felt great satisfaction when they were using the new system. Increasing productivity and reducing frustrations of the old system. Increased employee satisfaction meant that the organization had increased its outputs.

The organization's services had improved and the employees were motivated. Motivated employees are more willing to work and they feel appreciated when they are working with the new system. Services to the customers had also improved and they now felt they received better service. Improved customer service also increased the organization's customer base. Customers prefer working with an organization that is able to deliver on time and as promised. The organization managed to also increase its profits.

By reducing its operating expenses and delays in the processing of information, the organization realized increased profits. The increased profits also demonstrated the impact the new system had on the organization. The management realized the importance of having systems are able to integrate with each other. Having disparate systems and the lack of integration had made the organization to be more reliant on the paperwork and paper processes (Davis, Dent, & Wharff, 2015).