10 Steps for a Successful FPM Implementation, Part 2 | Ep. 3

Emma

Alright, welcome back to FP&A Done Right! I'm Emma, and as always, I'm here with Ethan. Today, we're picking up where we left off—diving into the second half of our 10 steps to a successful FPM implementation. Ethan, you ready?

Unknown Speaker

Absolutely, Emma. And if you missed part one, definitely go back and check that out. But let's jump right in—step six: involving IT as a strategic partner. This is one of those things that sounds obvious, but honestly, a lot of finance teams still treat IT like an afterthought.

Emma

Yeah, and that's a recipe for trouble. I mean, finance usually leads these projects because, well, we're the main users. But IT brings that technical lens you just can't do without. It's like, finance knows what kind of car they want, but IT knows if the garage can actually fit it. Terrible analogy, but you get what I mean.

Unknown Speaker

No, I love it. And IT's role really comes down to three big things: vendor selection, data integration, and infrastructure support. So, first, vendor selection—IT can assess all those technical requirements, like platform compatibility, system architecture, hardware, software, and how well the new system will play with your existing apps.

Emma

Exactly. Finance might get excited about features, but if IT isn't involved, you could end up with a Ferrari and a garage built for a Mini Cooper. And then there's data integration. This is where things get messy. Data's gotta flow in from all sorts of places, and IT are the only ones who really know how to make those connections work.

Unknown Speaker

Yeah, without IT, you risk ending up with a fragmented view of your financials. And the third piece is infrastructure support. Once your FPM system is live, IT's the team keeping it running—managing hardware, software, backups, disaster recovery, security, all that good stuff.

Emma

And here's a quick story—there was this company I worked with, they totally sidelined IT until the last minute. When it came time to integrate with their other systems, everything ground to a halt. Delays, extra costs, you name it. If they'd brought IT in from the start, they could've avoided all that drama.

Unknown Speaker

So, bottom line: treat IT like a proactive partner, not just a help desk. Get them involved early, and your project will be way smoother.

Unknown Speaker

Alright, moving on to step seven—identifying and training your FPM team. This is one of those steps that sounds simple, but it's where a lot of projects stumble. Emma, you ever see a great system turn into a really expensive paperweight?

Emma

Oh, all the time. You can have the best tool in the world, but if your team doesn't know how to use it, it's useless. So, first thing: figure out who your users are. You've got system admins, power users, regular end users, and those folks who just pop in for a report every now and then. Each group needs different training.

Unknown Speaker

Right, and timing is everything. You want that initial training right around go-live, but don't forget about ongoing learning—new features, new hires, all that. And, uh, quick confession: I once scheduled training during month-end close. Total disaster. No one paid attention, everyone was stressed. Lesson learned—avoid peak periods like the plague.

Emma

Yeah, and think about who's delivering the training. Usually, your implementation partner or software vendor handles the first round, but you should also build up internal experts—super users who can train others. That way, you don't have to call in outside help every time someone has a question.

Unknown Speaker

And don't just stick to one format. In-person sessions are great, but mix in webinars, video recordings, self-paced modules—whatever works for your team. Especially if you've got people in different locations or working remotely.

Emma

And plan those logistics early. Make sure everyone has access, the right equipment, and a place to actually do the training. It sounds basic, but it's easy to overlook and can cause big delays if you don't get it right.

Emma

Alright, let's talk about building your internal team and picking the right partner—steps eight, nine, and ten. First up, staffing your implementation team. You need a strong client-side project manager and a system administrator. The project manager is your conductor, keeping everything on track and making sure your organization delivers what it needs to.

Unknown Speaker

And the system admin? Get them involved as early as possible, even before the main implementation starts. They should work side-by-side with your consultants, so when the handoff happens, they're not left in the dark. That hands-on experience is gold.

Emma

Once you go live, don't just walk away. Measure your results—did you hit your goals? Calculate ROI, do a post-implementation review, and document what worked and what didn't. That way, you can keep improving and make sure your FPM system evolves with your business.

Unknown Speaker

And finally, choosing the right implementation partner. This is huge. Look for someone with a proven track record on your specific software. Ask them how they've solved business problems for other clients, how many implementations they've done, and get real-world references. Certifications matter, but so does experience.

Emma

A great partner brings best practices, pre-built templates, and the ability to spot issues before they become problems. They can really speed things up and help you avoid common pitfalls. So, take your time with this step—it can make or break your project.

Unknown Speaker

And that wraps up our 10 steps! If you want to learn more, check out Revelwood's resources. But for now, thanks for joining us for this deep dive. Emma, always a pleasure.