As a business owner or financial executive for a growing government contractor, there are several initiatives and goals on your mind day to day.  From scaling growth to ensuring your existing financial systems are optimized, you have a lot on your plate.  Often, when weighing the idea of implementing a new financial tool, we must consider the following:

• What data and other systems that we have in place will interface with this tool?
• How will the data flow?
• How will it help me make my job easier?

Too frequently, we have the fear that we are “just not ready” to implement a daunting, new technology. There could be concerns over existing data integrity, optimization of your existing accounting ERP system or the availability of resources to help you get things started.  Let’s dive into why you couldn’t be more ready to start taking advantage of using Nue today.

For starters, you may have anxiety over your existing accounting system data.  You aren’t confident that the financials are produced accurately or organized in a standardized manner.  Your financials may not be completed in a timely manner.  If either of those concerns resonate with you, the time could not be more perfect to implement an FP&A tool, such as Nue.  Nue pulls in accounting system actuals into a forecast model so you can see those gaps in data and potential inaccuracies.  For example, do subcontractor costs appear to change dramatically month to month?  Perhaps you are missing important monthly accruals as part of your closing procedure.  Visuals like this come to life when you implement Nue with your existing accounting data.  It is not a matter of having the data ready; it is a matter of visualizing your data with a tool that lets you make decisions for tomorrow.  Nue meets you wherever your accounting data resides.

You may also have concerns that your current accounting ERP system is not optimized or ready to feed an external FP&A system.  On the contrary, implementing Nue over your accounting system today will give you insight into potential ways you may want to optimize or make changes in your current accounting system.  You may realize after importing your data into Nue that you want to create an additional internal organization for tracking a line of business once you see your corporate level forecast.  The visualization you will get by using Nue can help guide changes you may want to make in your accounting system now or down the road.  Let’s be honest, businesses evolve, and your accounting system configuration could be aligned with how you did business years ago.  Let Nue be a guide to your data and provide insight into how to structure your accounting system.

Some business owners or financial executives express concern over being ready to implement an FP&A tool because of the availability of resources.  They may think that running an FP&A software will require a significant portion of their time.  Actually, quite the contrary with Nue.  Nue reduces the time it takes you to complete forecasting and budgeting with import functionality and scenario planning that has a basis of estimates, pipeline pricing, and working capital assumptions built in.  What does that mean?  It means you can get out of the business of checking Excel spreadsheets for accuracy and building formulas to simulate assumptions for your outlook.  With built-in functionality, Nue cuts down the time necessary to forecast and budget.  Even if you solely use Nue to set a baseline budget or forecast for your current fiscal year to plan for where you are headed, our software will save you time on painstakingly creating the same product in Excel. 

Not only will Nue save you time, but it will also ensure you are producing a more accurate outlook with all of the necessary assumptions factored in.  You may also use a sophisticated accounting ERP system that has project level planning, but you don’t have that data planned out yet in your system, nor do you have the bandwidth to help with that project.  You don’t have to sweat this obstacle, as Nue has accounting and consulting partners available to help and guide you through the project planning process.  Maybe you need a one-time lift to get your annual project planning data in your accounting system so you can bring the data into Nue.  Maybe you need someone to train you on the process or set up a process for your internal team so it can be repeated.  Our accounting and consulting partners are just the solution to this problem.

Your business insight and visibility into where you are headed are critical to effective decision-making.  Investing in a platform that gives you valuable insight and visibility should be an easy decision and process.  Whether your hesitation lies with your data, accounting system configuration, or not knowing where to begin with the forecasting process, Nue is a partner that will deliver analytical clarity to help you make decisions for the future.  Waiting until you “think” you are ready could put you even more steps behind your competitors FP&A is a rapidly evolving process, and having a tool in place to manage that burden is essential.

Start streamlining your data with Nue today so you can make informed decisions for the future. Schedule a demo and one of our consultants would be happy to discuss the process and how we can help make your implementation successful.