One crucial core competency is information technology, which has been cited as the number one challenge facing accountants today. Technology leaders have a passion to improve the organization, are able to manage risk and change, can build a team and possess visionary skills. Technical support . Technical and training skills are a necessary complement to leadership and vision. Since one person may not have all of these skills, a team approach may be the best solution.
Companies often forget about the training and implementation time and cost requirements.
Written three-year plan . Three-year budget . Technology budgeting in the past was included in an organization s capital budget. The advancement of technology and rapid development dictate a separate budgeting process. Systems now last for 2 to 3 years rather than 5 to 10 years.