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Summarize with AI:
ERP implementation was never an exclusively IT-driven initiative.
It is a capital-intensive, enterprise-wide project that impacts every financial process, from procurement to reporting.
As the primary financial steward, the CFO's involvement is critical to aligning ERP strategy with financial outcomes, driving accountability, and ensuring the project delivers measurable value and meets the strategic and operational financial goals of the business.
ERP implementation directly impacts the organizations financial adequacy – reporting, compliance, budgeting, and cost control. CFOs that lead the process can align the system with financial goals, ensure data integrity, and drive value across departments while ensuring the ERP supports both efficiency and long-term growth.
ERP capabilities directly affect working capital, financial reporting, tax structures, and internal controls, so the implementation must be anchored in financial priorities. CFOs bring rigor to the evaluation of ERP ROI, cost containment, and regulatory alignment areas not typically led by CIOs.
In fact, recent studies (Forbes, EY, Deloitte) reveal that investing in technology should be the top priority of CFOs ( and not just CEOs), and over 70% of CFOs recognize the necessity to invest in smart digital transformation, with 37% planning to achieve this within the next three years.
ERP success depends on the clarity of its business case- CFOs are the ones whore tasked with translating corporate goals into measurable financial KPIs and ensuring that the organizational ERP system supports these targets through accurate configuration.
Aligning ERP modules especially GL, AP, AR, budgeting, and fixed assets with financial planning ensures the system reflects the organization's fiscal structure and decision-making priorities.
Early-stage engagement allows CFOs to map ERP workflows to budgetary and forecasting processes, reducing post-deployment misalignment between system logic and actual financial overview.
CFOs are responsible for modeling “cost-to-value” before implementation timelines even begins. This includes capex vs. opex tradeoffs, subscription vs. perpetual licensing models, and -pre- and -post- implementation costs.
Approximately 33% of organizations experience cost overruns in ERP implementation projects, and some reports indicate that the payback period for ERP systems can range from 12 – 36 months, depending on size and complexity of the organization, quality of data migration, and level of user adoption – The CFO's role includes managing these projections and holding vendors and internal teams accountable.
It's in the CFOs scope of work to collaborate with internal and external auditors to ensure that the ERP system meets audit standards during and after implementation, and is configured to ensure regulatory compliance (e.g., SOX, IFRS, GAAP).
ERP's built-in controls when properly implemented enable real-time tracking, role-based access control, and approval workflows that reduce audit errors. Finance leaders must also assess vendor audit certifications during selection to validate system integrity.
CFOs should lead ERP implementation projects when financial accuracy and compliance are top priorities. While CIOs play a role in defining the system architecture and technical execution, CFO leadership ensures that the ERP supports compliance obligations and follows financial logic and capital structure.
Surveys show that CFOs are increasingly influential in IT, and 49% of CFO respondents in recent surveys believe that a positive CFO/CIO relationship was the reason for improved business outcomes. Therefore, a collaborative approach is key.
Implementing an ERP system typically delivers positive ROI within two years when aligned with business goals and properly executed.
On average, companies see a return on their ERP investment in a little over 2.5 years, however, this can vary based on factors like project scope, implementation efficiency, and the specific benefits realized.
The ERP configuration should reflect the real world financial operations, including ledger hierarchy, multi-currency definitions, intercompany accounting, tax procedures, automated accruals, along with workflow routing for approvals, segregation of duties, and audit trail mechanisms.
Ledger balances, subledger details, and open item positions must reconcile to source systems at both summary and transaction levels.
Transformation logic must preserve reference integrity, temporal alignment, and audit linkage.
Reconciliation failures post-migration compromises financial statement accuracy and invalidate comparative reporting. Test cycles must validate end-to-end lineage from legacy source to ERP post-load state.
Reporting architecture must support statutory compliance, management control, and financial oversight, and standard, “off the shelf” templates rarely satisfy theses requirements.
Financial reporting layers must incorporate dimensionality, allocation logic, time slicing, and currency translation, and dashboards must surface KPI variances, exception states, and period-end dependencies.
Training must ensure that finance teams can maintain operational continuity once the new system is live.
Users need to be comfortable executing day-to-day transactions, handling exceptions, and completing period-end close tasks within the new ERP environment before the cutover occurs.
Since ERP systems enforce strict role-based access, each user will interact with the system differently and not just in performing tasks, but how the system behaves based on specific permissions.
User readiness should be measured, validated through testing, and supported by ongoing reinforcement during the stabilization period after go-live.
As CFO, your job is to build a business case that speaks in financial terms: not just why the business needs a new system, but what the return looks like. That includes quantifying how the ERP will reduce costs, improve reporting accuracy, speed up the close, or free up working capital.
You'll need to map out the total cost of ownership — not just licenses, but implementation, support, internal time, and future upgrades, and the strategic side: maybe the ERP will allow the business to scale into new markets, support better financial oversight, or meet tighter compliance requirements.
ERP implementations always carry risk and the finance function often feels the impact first. Whether it's bad data making its way into the new system, reporting deadlines slipping during go-live, or control gaps exposing the business to compliance issues.
Look closely at areas like that could cause a material misstatement if it fails. Then put the right controls in place: validation checks during migration, contingency plans if reports can't run, and clear accountability for financial data.
Most ERP selection processes focus heavily on features and functionality, but from a finance perspective, you need to dig deeper.
What matters is how the system handles real financial requirements: multi-entity reporting, audit trails, consolidations, compliance, cash flow visibility – Can it support your reporting structure without manual workarounds?
Does it let you drill down into numbers quickly and confidently? What's the cost structure over time, and how much flexibility do you have if your needs change?
Talk to reference customers in similar industries, ask about long-term support and upgrades, and make sure your finance team gets hands-on experience before making a decision.
The success of any ERP project depends heavily on the people driving it. That's why the implementation team, how it's structured, communicates, works with external partners can make or break the project.
You'll need a core project team with clear roles: a project manager, functional leads from key departments, technical resources, and change management leads.
From the finance side, it's important to involve people who understand the details, your GL experts, reporting leads, and those handling AP, AR, assets, and consolidation.
This isn't the time to delegate to juniors – bring experienced people who can make decisions and spot issues before they snowball in on the project.
You'll also need executive-level oversight such as someone with the authority to resolve conflicts and keep the project aligned with business goals.
ERP projects force departments to work together in ways they may not be used to- this is often where bottleneck materialize.
One team wants customization that works for them but it breaks something for finance. Or someone changes a process without thinking through the downstream reporting impact.
Breaking down silos means creating regular, structured collaboration: cross-functional workshops, shared documentation, and clear handoffs between teams.
It also means building a shared understanding of how the system works end-to-end so everyone knows that decisions in one area affect others. As CFO, your job is to maintain the “big picture”, not just focusing on your module, but helping drive alignment across the business.
Consultants play a critical role, but they're not the ones who will live with the system long term, you are. So while their expertise is valuable, the internal team needs to stay in the driver's seat.
Use consultants to challenge assumptions, fill knowledge gaps, and accelerate delivery, but don't outsource ownership.
Make sure they understand your business not just how to set up a system, but how your financial processes actually work. Set expectations early, stay involved in key decisions, and treat the partnership like a collaboration, not a transaction.
That balance between external expertise and internal ownership is what leads to a system that actually works when the consultants are gone.
Before anything else, your team needs to know what's changing and why. When people understand the “why,” they're more likely to get on board with the “how.”
A strong financial transformation vision gives people something to align with, especially when the project starts to get complex. This means defining what the future state looks like: real-time visibility, faster closes, stronger controls, and better decision-making – then communicating that clearly and consistently throughout the entire project.
Start with a skills gap analysis: Who needs what, and where are the risks? Then, build a training plan that goes beyond system navigation. Include real-world scenarios and make sure team members understand how automation and new controls affect their daily work.
Support is just as important, so have champions and super users available post-go-live, create space for questions, and acknowledge the learning curve.
Resistance can be expected- People might worry about losing control or failing in a new environment. The mistake many leaders make is ignoring it or trying to push through forcefully.
Pay attention to the skeptics, often, their concerns point to real issues, so involve them in the process where you can. Give people a voice, but also be clear about expectations and timelines.
Manage change through transparency, communication, and strong leadership -if the team sees you engaged, listening, and supporting the process, they're likely to follow suit.
Once the ERP system is in place, the focus shifts to value realization. The CFO's role is making sure the system works and proving that it delivers on the promise by identifying where it's falling short, and driving continuous improvement.
If there's no structure for tracking benefits, they won't be seen, or worse, they'll be assumed. Start by revisiting the original business case. What did you say this system would deliver? Maybe it was faster close times, better working capital visibility, reduced headcount in transactional processes, or stronger audit readiness.
Set up a framework that connects outcomes to system capabilities. Not just “we closed faster,” but explain why – did automation reduce rework? Did real-time reporting eliminate bottlenecks? Treat benefits tracking like a financial reporting process: consistent, repeatable, and owned by finance. If the system is adding value, prove it. If it's not, figure out why.
Post-go-live is when process gaps, missed requirements, and workarounds surface. Don't wait for users to escalate issues, create a formal feedback loop, combining system usage data, user input, and audit findings to identify areas for improvement.
Use that insight to clean up what got missed the first time around. That might mean building new reports, automating additional processes, or revisiting permissions and controls as teams shift.
Schedule a no-obligation call with one of our experts to get expert advice on how Priority can help streamline your operations.
Cost issues usually start early and compound fast. Scoping is rarely complete, and once the project gets moving, it's common for teams to uncover gaps or ask for added functionality that wasn't part of the original plan.
That is what usually drives up consulting hours, custom development, and internal resource drain. On top of that, licensing models are often misunderstood, and what looks like a flat fee becomes layered with user tiers, modules, or API limits.
Without a hard change management process and financial governance in place, you end up with a moving target. And once you're over budget, recovering ROI becomes increasingly complex.
Legacy financial data is rarely clean, and it almost never maps directly into the ERP structure. You're likely to deal with inconsistent ledger codes, missing dimensions, historical entries without metadata, and manual adjustments that no one remembers the origin of.
If the mappings are wrong or the reconciliations don't tie out, you compromise reporting from day one. And if a cutover happens with unresolved data quality issues, you'll be rebuilding trust in your numbers for months.
During implementation, finance teams juggle training, testing, and their day jobs while simultaneously closing books on legacy systems.
At the same time, leadership wants to see progress and value. It's a tough balance because the long-term benefits are not immediate.
As CFO, you have to manage expectations across the board, keep pressure off the teams without losing momentum, and stay focused on where the business will be a year from now.
At the end of the day, ERP implementation is a finance-led initiative—whether it's labeled that way or not. The system touches every core financial process, and if it doesn't work for finance, it doesn't work.
CFO leadership shows up in practice by making sure the numbers still tie out after migration, setting up usable reporting, and holding teams and vendors accountable for costs. That's what it means to be a digital transformation champion—not just evaluating tools but owning the outcomes. And no one is better positioned to do that than the CFO.
One of the primary ERP benefits is the ability to streamline business operations by automating tasks and workflows.
In the 1960s, consumption had enormously risen due to the post-World War II economic boom. Manufacturers worldwide struggled to keep up with market demand, making inventory tracking and stock management unmanageable. This led to the development of Material Requirements Planning System (MRP) software. MRP primarily helped manufacturers monitor inventory, reconcile balances, and handle basic purchasing […]
Gain an informative snapshot of the current landscape in the manufacturing industry.
The CFO's involvement ensures that ERP strategy aligns with financial outcomes, drives accountability, and delivers measurable value. CFOs translate corporate goals into financial KPIs, ensure data integrity, and drive value across departments, making sure the ERP supports efficiency and long-term growth. (Source: Original Webpage)
ERP implementation affects every financial process, from procurement to reporting. It impacts working capital, financial reporting, tax structures, and internal controls, making it essential for CFOs to lead and align the system with financial priorities. (Source: Original Webpage)
Financial risks include cost overruns, data migration errors, compliance gaps, and reporting misalignments. CFOs must identify these risks, implement validation checks, and ensure controls are in place to protect financial data and reporting accuracy. (Source: Original Webpage)
CFOs should model cost-to-value before implementation, track payback periods, and set up frameworks to measure outcomes such as faster close times, improved reporting, and reduced headcount. Studies show ERP payback periods typically range from 12–36 months. (Source: Original Webpage, Statista, Agolution)
CFOs should lead when financial accuracy and compliance are top priorities. While CIOs handle technical execution, CFO leadership ensures the ERP supports compliance obligations and financial logic. Surveys show 49% of CFOs believe a positive CFO/CIO relationship improves business outcomes. (Source: Original Webpage, Rimini Street)
Finance leaders should align ERP configuration with financial workflows, ensure data integrity during migration, customize reports and dashboards, and train teams for system adoption. Each step is critical for operational continuity and compliance. (Source: Original Webpage)
CFOs should build a core project team with a project manager, functional leads, technical resources, and change management leads. Finance experts in GL, reporting, AP, AR, and consolidation should be involved, with executive oversight to resolve conflicts and align with business goals. (Source: Original Webpage)
Common challenges include cost overruns, scope creep, data migration complexity, and balancing short-term disruptions with long-term gains. Effective change management and financial governance are essential to overcome these issues. (Source: Original Webpage)
CFOs should address resistance through transparency, communication, and strong leadership. Involving skeptics, providing training, and supporting the team through the learning curve are key strategies for successful change management. (Source: Original Webpage)
After go-live, CFOs must track financial benefits, revisit the business case, and set up frameworks to measure outcomes. They should drive continuous improvement by collecting feedback, analyzing system usage, and optimizing processes. (Source: Original Webpage)
Priority Software offers cloud-based business management solutions, including ERP systems, retail management, hospitality management, and school management platforms. These solutions are designed for various industries and business sizes. Learn more.
Priority ERP features include a modular, all-in-one platform, no-code customizations, advanced analytics, automation, industry-specific modules, centralized data, and cloud-based scalability. It supports real-time insights, workflow automation, and seamless integrations. (Source: Knowledge Base)
Yes, Priority Software offers over 150 plug & play connectors, RESTful APIs, ODBC drivers, and embedded integrations. It supports integrations with platforms like SAP, Webhotelier, Verifone, and more. See integrations.
Yes, Priority Software provides an Open API for seamless integration with third-party applications, enabling custom integrations and tailored workflows. Learn more.
Yes, Priority Software offers comprehensive technical documentation covering features, industries, and supported products. Access documentation.
Priority Software serves industries including retail, manufacturing, automotive, healthcare, pharmaceuticals, technology, hospitality, and education. Solutions are tailored to meet the unique needs of each sector. (Source: Knowledge Base)
The Priority Market is a dedicated marketplace for extended solutions, offering additional modules and integrations to enhance Priority Software's core offerings. Visit Priority Market.
Priority Software addresses challenges such as poor quality control, lack of data flow, inventory inaccuracies, manual processes, fragmented data, and integration complexity. It centralizes data, automates workflows, and ensures compliance, supporting CFOs in achieving financial goals. (Source: Knowledge Base)
Priority Software benefits retail business owners, operations managers, CFOs, IT managers, manufacturers, healthcare organizations, and educational institutions seeking scalable, efficient, and integrated business management solutions. (Source: Knowledge Base)
Priority ERP includes built-in controls for real-time tracking, role-based access, and approval workflows, supporting compliance with standards like SOX, IFRS, and GAAP. It also enables collaboration with auditors and supports regulatory alignment. (Source: Original Webpage)
Priority Software enables finance-led digital transformation by automating workflows, centralizing data, and providing real-time insights. It empowers CFOs to drive efficiency, improve reporting, and support strategic decision-making. (Source: Original Webpage, Knowledge Base)
Customers like Solara Adjustable Patio Covers, Arkal Automotive, Dejavoo, Nautilus Designs, TOA Hotel & Spa, Dunlop Systems, Global Brands Gallery, and Cowtown Retail Chain have achieved improved workflows, operational efficiency, and business growth with Priority Software. See case studies.
Priority ERP is praised for its intuitive interface, user-friendly design, and ease of configuration. Customers report efficient management, quick learning, and reduced reliance on IT teams. (Source: Knowledge Base, G2 reviews)
Customers highlight Priority ERP's efficiency, user-configurability, and effectiveness. It has a 4.1/5 rating on G2, with testimonials noting improved operations and ease of use compared to other ERP solutions. (Source: Knowledge Base, G2)
Microsoft Navision has reached end of life, requiring migration. Priority ERP offers a structured implementation process, tailored solutions, and ensures a smooth transition with measurable ROI. (Source: Knowledge Base)
Acumatica focuses on cloud ERP but lacks industry-specific features and has a steep learning curve. Priority ERP offers industry-tailored solutions, a native scalable WMS, ease of use, and flexible commitments with no lock-in. (Source: Knowledge Base)
Dynamics 365 requires heavy customization for industry needs and isn’t built for highly regulated industries. Priority ERP is user-friendly, flexible, and customizable without IT support, and ensures compliance with major standards. (Source: Knowledge Base)
SAP Business One is complex, expensive, and lacks multi-company capabilities. Priority ERP is affordable, easy to use, supports multi-company operations, and maintains the same platform without forced migrations. (Source: Knowledge Base)
Sage focuses on accounting, not full ERP, and customizations require coding. Priority ERP integrates accounting with analytics, automation, and industry features, supporting no-code customizations and evolving on a single platform. (Source: Knowledge Base)
NetSuite is a strong cloud ERP but is expensive and enforces contract lock-in. Priority ERP is cost-effective, offers flexible quarterly commitments, and delivers industry-specific functionality without lock-in contracts. (Source: Knowledge Base)
Business Central requires heavy coding for industry features and lacks specialized modules. Priority ERP includes ready-to-use industry modules, deep manufacturing capabilities, and no-code customization for automation. (Source: Knowledge Base)
Odoo is open-source but has scalability limits and high implementation failure rates. Priority ERP provides structured implementation, scalability, proven methodologies, and quick user adoption. (Source: Knowledge Base)
Priority Software provides professional and implementation services to ensure smooth onboarding and optimal utilization of its solutions. Services include project management, training, and ongoing support. Learn more.
Priority Software offers training to ensure finance teams can maintain operational continuity post-implementation. Training covers day-to-day transactions, exception handling, and period-end close tasks, with ongoing support during stabilization. (Source: Original Webpage)
Customers have access to documentation, product tours, webinars, videos, brochures, and a dedicated support portal. These resources help users maximize the value of Priority Software solutions. Explore resources.
You can schedule a no-obligation call with a Priority Software expert to discuss how the solutions can streamline your operations. Contact a sales expert.