Page 20 - Accounting Best Practices
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                                Implementing Best Practices
                                process itself requires a number of key components in order to ensure a success-
                                ful conclusion. This section discusses those components.
                                   One of the first implementation steps for all but the simplest best practice
                                improvements is to study and flowchart the existing system about to be improved.
                                By doing so, one can ascertain any unusual requirements that are not readily
                                apparent and that must be included in the planning for the upcoming implementa-
                                tion. Though some reengineering efforts do not spend much time on this task, on
                                the grounds that the entire system is about to be replaced, the same issue still
                                applies—there are usually special requirements, unique to any company, that
                                must be addressed in any new system. Accordingly, nearly all implementation
                                projects must include this critical step.
                                   Another issue is the cost-benefit analysis. This is a compilation of all the
                                costs required to both install and maintain a best practice, which is offset against
                                the benefits of doing so.  These costs must include project team payroll and
                                related expenses, outside services, programming costs, training, travel, and capi-
                                tal expenditures. This step is worth a great deal of attention, for a wise manager
                                will not undertake a new project, no matter how cutting-edge and high-profile it
                                may be, if there is not a sound analysis in place that clearly shows the benefit of
                                moving forward with it.
                                   Yet another implementation issue is the use of new technology. Though there
                                may be new devices or software on the market that can clearly improve the effi-
                                ciency of a company’s operations, and perhaps even make a demonstrative impact
                                on a company’s competitive situation, it still may be more prudent to wait until
                                the technology has been tested in the marketplace for a short time before pro-
                                ceeding with an implementation. This is a particular problem if there is only one
                                supplier available that offers the technology, especially if that supplier is a small
                                one or with inadequate funding, with the attendant risk of going out of business.
                                In most cases, the prudent manager will elect to use technology that has proven
                                itself in the marketplace, rather than using the most cutting-edge applications.
                                   Of great importance to most best practice implementations is system testing.
                                Any new application, unless it is astoundingly simple, carries with it the risk of
                                failure. This risk must be tested repeatedly to ensure that it will not occur under
                                actual use. The type of testing can take a variety of forms. One is volume testing,
                                to ensure that a large number of employees using the system at the same time will
                                not result in failure. Another is feature testing, in which test transactions that test
                                the boundaries of the possible information to be used are run through the system.
                                Yet another possibility is recovery testing—bringing down a computer system
                                suddenly to see how easy it is to restart the system. All of these approaches, or
                                others, depending on the type of best practice, should be completed before
                                unleashing a new application on employees.
                                   One of the last implementation steps before firing up a new best practice is to
                                provide training to employees in how to run the new system. This must be done
                                as late as possible, since employee retention of this information will dwindle
                                rapidly if not reinforced by actual practice. In addition, this training should be
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