What are needed skills for Financial System Implementation?

For Technical Consultants

 

Good knowledge and hands-on experience of:

 

Hardware and Networking Technologies and Equipment

Knowledge of Databases

Knowledge of the Application & its integration with Other Components

Knowledge of reporting tools

 

For Functional Consultants

Knowledge of the Business processes and flow

Knowledge of relationship between different work flows

Knowledge of relationship between financial and non financial systems

Knowledge of flow charting

Knowledge of internal controls and assignment of responsibilities to different users

 

In addition to excellent communication, managerial and leadership skills, it also needed the following skills for financial system implementation:

 

Experience and expertise of handling complex application, Knowledge of financial domain (both business and technical), expertise in defining clear role definitions of individuals on the project, expertise to evaluate the alignment between the organization strategy, structure and processes and the chosen financial application, clear knowledge on the total cost of ownership of the application (which includes acquisition hardware, software, implementation costs, consulting fees, training cost, and related annual maintenance cost etc), huge patience as it can last for an extended period of time and may causes a significant number of changes within the organization.

1.Correct Core Financial system which can be customized for future upgrades(Financial Systems)2.Project Implementation3.Financial System Implementation