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First Financial Period Closure Post Go-Live for a Large Transformation ERP Program (Part-1)

Guest post by
Hemantkumar Nathu Lothe, Senior Consultant, Infosys


For any transformational project, Go-Live is the ultimate goal. However, this is not end of the episode and the real action start during the first financial period closure. Most of the times, the period closure activity is being considered as the barometer for the successful implementation and hence it becomes imperative that the first period closure is as smooth and without surprises.

There are the definite guides and outlines provided for the financial period closure which details the steps and sequence to follow for the period closure. Business can weigh the success of the period closure on different parameters like the time scale taken, achievement of the objective, efforts involved, categories of the issues faced etc.

This blog details the first 2 things among the recommended 5 to be considered as catalyst for successful period closure as below-

  1. Period End Closure Mock-
    Generally the individual modules capture the scenario for steps to be performed for period closure. This necessarily need not cover the entire period closure process from business perspective. Hence there is a need to list a separate scenario across all tracks for period closure. This one scenario would list all the details required along with the sequence and steps that needs to be performed for period closure.
    Induction of this scenario right from the CRP phase into the project will initiate and instil the importance of this activity across various business tracks and the execution of this scenario will bring on the dependencies of the business functions on each other for the successful closure of period. The execution of this period close scenario right from CRP through UAT will give business an insight what goes for the successful period closure.
  2. Period Closure with User Entered Data in UAT-
    The most common issue for the first month end processing is removing the exceptions. Mainly these exceptions arise because of the wrong data entry in the application. It is practically not possible to build all the validations for the correct data entry and many times may not be feasible to check authenticity of the data being entered at the source during implementation. Clearing these exceptions and correcting the 'incorrect' data eats the major time in the entire period closure process.
    Majorly UAT focuses on executing the business process with the migrated data. However due care is exercised for the authenticity and correctness of migrated data so these may not pose threat for period closure. Hence the best practice would be to ask all the super users/SMEs to enter the critical transactional data in system which can be used for the period closure scenario execution in UAT. If the implementation methodology permits, even business can ask key users from business to execute the process track scenario which eventually creates the transactional data for period closure.

We will continue the other 3 recommendations in the next blog, so keep watching...


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