July 01, 2021

BlackLine’s July Roundup

4-minute read

This monthly BlackLine update is published to keep you informed of customer success stories, upcoming events, helpful resources, best practices, and thought leadership from the leading cloud financial close solution.

In the News

CPA Advisor: Stuck in the Middle

Manual F&A processes across disparate systems left many midsize organizations struggling to pivot in the wake of disruption.

A recent survey by BlackLine and Capstone Insights found that the risk of making decisions based on misinformation is too great for these growing companies. Many have turned to technology to provide the visibility required to adapt.

“Finance and accounting professionals find themselves stuck chasing down errors, reconciling data, and trying to make decisions based on an assortment of often incomplete and/or inaccurate data,” the survey states.

“Continued reliance on manual processes puts organizations at a competitive disadvantage. Deploying tools to automate the finance function should be high on the to-do list.”

Read the full article here.

Customer Story

Panini International

With international operations and regulations to be mindful of, Italian publishing company Panini sought an accounting automation solution to help them maintain compliance. Ease of implementation and use sold the team on BlackLine’s platform.

“BlackLine is the first cloud application that we have implemented, and it works very well as it is so simple to use. The fact that I, as a non-IT person, was able to set it up speaks for itself.

“While our subsidiaries don’t have the same legal requirements as the HQ in Italy, we are considering extending BlackLine to them all in order to ensure transparency and efficiencies,” concludes Peter Harris, CFO at Panini.

Read the full customer story here

BlackLine Magazine

Now Is the Time for Finance Transformation

Transformative process automation has helped today’s fastest growing and healthiest companies stay that way. While the path to finance transformation is personal for each organization, the time to adopt cloud-based technology in order to maintain agility is now.

BlackLine’s director of strategic accounting Michael Shultz adds, “Today’s cloud-based technologies give finance and accounting teams the ability to move rapidly through newer and better solutions, and those solutions generate immediate and significant results.”

Read the full article here

Best Practices

7 Best Practices for Financial Controllers in 2021

As financial controllers turn the page on 2020, they are looking to move from stabilization to optimization in their F&A processes.

These seven habits help financial controllers thrive:

1.      Unify & Document All Global Close Activities in the Cloud

2.      Evaluate Policies, Procedures & Internal Controls

3.      Identify & Measure Close-Related KPIs

4.      Identify Areas to Execute Accounting Continuously  

5.      Increase Efficiency by Automating Manual Processes

6.      Centralize Supporting Documents

7.      Shift to Auditor Self-Service

Read the full article here.

Webinars

How Finance and IT Leaders Free up Capacity with Automation, CFO.com – July 15, 2021

Unleash Your Accountants to Become ExceptionalJuly 22, 2021

Register for one or more webinars here.

Rachel Stolba

Modern Accounting