BlackLine’s mining and raw materials clients employ the Financial Close Suite to automate account reconciliation and certification processes—some have automated as much as 70 percent of their certifications. As a result, these organizations gain more transparency and greater visibility into their businesses; meet regulatory compliance obligations; reduce risk; increase productivity; and significantly improve their ability to provide accurate and timely information to auditors. One client has saved a significant amount of time in the account reconciliation process, eliminating an entire day of work by using the Transaction Matching module.
Some mining and raw materials organizations, such as chemical companies, have also successfully used Account Reconciliations to help manage their inventory processes and Transaction Matching to reconcile inventory between the general ledger and sub-ledger and/or between multiple systems. In addition, BlackLine’s flexibility in organizational hierarchy and reconciliation structure makes it easy to manage acquisitions and divestitures to ensure a full population of reconciliations exists in one common place.
Learn more about BlackLine’s Financial Close Suite and the accounting software many mining and raw materials companies use.