December 18, 2018

True Automation That Scales With Growing Businesses

True Automation That Scales With Growing Businesses

Are you looking for a way to improve your month-end close process, but don’t know where to start?

Understandably, investing time and budget into a new technology solution can seem daunting. But there’s often no need to reinvent the wheel, especially with solutions that can be adopted as your business needs grow.

With a wave of cloud-delivered finance-focused technology, there’s never been a better time to develop your tech stack and invest in your future success. Modern solutions like BlackLine automate spreadsheet-centric activities, embed control into daily activities, and provide real-time data for more informed decision making.

Other products may offer a quick fix or temporary band-aid for your financial close, but BlackLine delivers true automation that scales with growing businesses.

And because BlackLine is modular, you don’t need to invest in the entire platform at once. We’re here to guide you through solutions that work best for each stage of development.

Journey-Chart-for-FloQast-Blog

Journey-Chart-for-FloQast-Blog

  1. Forget ticking and tying

Often, quick wins begin with streamlining error-prone, spreadsheet-centric monthly close processes. Most BlackLine customers start with Account Reconciliations for increased efficiency and accuracy.

The Account Reconciliations solution automatically imports transactions and balances from any ERP and compares them to source data to identify differences in real time.

To add visibility and controls, leverage BlackLine Task Management. Task Management provides a complete view into the month-end close status across business units and locations. Use tasks to monitor and track your activities, recurring journal entries, operational checklists, PBC lists, and more.

  1. Is data wearing you down?

Next, take speed and efficiency to a higher level by automatically matching millions of transactions in minutes with BlackLine Transaction Matching. Define matching logic for any type of data and let the matching engine do the legwork. With automated workflows, you can focus on analyzing discrepancies and addressing reconciling differences.

Furthermore, BlackLine allows you to manage items by exception. Variance Analysis automatically calculates and identifies account balance and activity fluctuations. It monitors for risk and ensures timely execution of critical management review controls, so you can focus on investigating root causes.

  1. Ensure data integrity

As your business matures, start enabling strategic accounting. BlackLine Journal Entry streamlines journal entry creation and approval processes with pre-validated, user-configured rules, which ensures accuracy and eliminates excess labor and failed posts. Electronic certification and a connected supporting document repository will help you complete your period-end close and audits with ease.

Furthermore, to ensure the validity of your organization’s high-volume accounts that require increased visibility and attention, direct your attention to BlackLine Daily Reconciliations. Daily Reconciliations validates cash positions and other key accounts to enhance operational efficiency and visibility.

  1. Unleash your excellence

Yearning for even more time-saving automation? As your organization grows and expands globally, technology is necessary to centralize end-to-end intercompany accounting management, streamline processes, reduce risk, and realize global visibility.

With BlackLine Intercompany Hub, you can manage increasing complexity at scale.

In addition, companies with SAP can enable a simplified, standardized, and automated financial close embedded directly within SAP. Smart Close creates a clear, documented workflow that avoids delays and confusion.

Finally, bring it all together with BlackLine Compliance.

With BlackLine’s suite of products, controls are automatically embedded within everyday activities. Now, connect control performance to attestation, create projects for SOX compliance, IT audits, and self-assessments, and centralize control management across the business.

Deploying BlackLine at a pace that works with your unique business needs provides the necessary infrastructure to handle planned future growth. Set your organization up for success and invest in a solution that sustainably supports growing employees, transactional volumes, and complexity.

Read this ebook to learn more about how your organization can begin their finance automation journey. 

Sonia Chu
Senior Product Marketing Manager

Modern Accounting