A system change in finance is not an IT project but a closing project. We provide the financial leadership that owns it – and makes sure the numbers are right even during the changeover.
The bookkeeping or ERP system is being replaced – because it falls out of support, because an investor requires group standards, because two systems run side by side after an acquisition, or because spreadsheet structures that grew over time no longer carry the load.
The project comes on top of day-to-day business, and the monthly close has to continue in the meantime. That is exactly where changeovers most often fail.
The interim CFO leads the project from the finance function's point of view – not as an IT project but as a closing project. That means: defining requirements from accounting, controlling and reporting, setting the chart of accounts and allocation logic, cleansing master data, testing migration rules.
The decisive point is reconcilability. A system change without a clean reconciliation makes every prior-year comparison useless – and that is exactly what due diligence, bank meetings and investor reports later depend on. That is why at least one full trial close belongs before the switch.
Plus safeguarding ongoing operations: the monthly close must be delivered on the agreed date even during the changeover.
What must the system do, and what is merely habit that grew over time? In parallel, the decision on the future chart of accounts and allocation logic.
Check and cleanse master data, reconcile balances, define and test migration rules.
At least one full monthly close in the new system before the switch, reconciled to the result in the old one.
First real close supported, reporting brought up to date, documentation and training for the team.
The technology, yes; the decisions, no. Chart of accounts, allocation logic, accruals and reconciliation are finance topics – and that is exactly where projects fail when nobody owns them.
Switching over without a full trial close. The first real close in the new system is the wrong moment to discover migration errors.
Because prior-year comparisons otherwise become useless – with direct consequences for due diligence, bank meetings and investor reports.
It must. A system change is no reason for numbers to come later – safeguarding ongoing operations is part of the brief.
Day rates between EUR 1,400 and 2,500 depending on size and scope of responsibility.
The service: External CFO. For a fixed-term project see Interim CFO, day rates by role on the pricing page.
Term in the glossary: ERP migration in finance.
Related situations: IFRS transition and Post-merger integration.