BlackLine’s June 2022 Roundup

BlackLine June 2022 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

Yahoo Finance: BlackLine Wins TrustRadius Top Rated 2022 Awards for Accounting, Financial Close & Accounts Receivable Automation

Leading software peer review site TrustRadius has once again named BlackLine a ‘Top Rated’ tool in 2022. Customers citing time savings, ease of use, and true automation helped BlackLine take the top spot in the Accounting, Financial Close, and Accounts Receivable (AR) categories.

"Earning multiple Top Rated awards is testament to BlackLine's leadership position in both financial close and accounts receivable automation," said Megan Headley, VP of Research at TrustRadius. "Reviewers on TrustRadius consistently highlight the convenience of having a centralized platform for financial automation, along with BlackLine's stellar customer support."

Customer/Partner Spotlight

Sensiba San Filippo:How We Shaved 8 Days Off Our Month End Close Using BlackLine’s Task Management Module

How many tasks in your close process are value-added work, and how many are just … tasks? This was the question facing the Sensiba San Filippo finance team as they sought to eliminate bottlenecks at the month-end.

The SSF team was already a BlackLine implementation partner, but when a former user of the platform joined their corporate accounting team, they became a client as well. After adopting the Task Management tool themselves, Sensiba San Filippo were able to reduce their time to close by 8 days, eliminate and automate non value-added tasks, and enable more informed decision-making.

BlackLine Magazine

Not Your Father’s Digital

In 2018, Fortune 500 executive Mike Polaha and his team were coming out of a multi-year finance transformation project. The next challenge would be creating a measurement of success for the project, while still offering the team time to navigate new technology.

They chose to take an education-first approach—looking at industry use cases to assign value to the investment. Then, they looked to their team for feedback, carefully separating true transformation concerns from a lack of understanding and need for enablement. Leveraging this knowledge, they were able to turn knowledge into action and continue the path to true transformation.

Best Practices

4 Must-Do’s for Transformation Success

As more business leaders turn to digital finance transformation to deliver increased efficiency, concerns emerge. How can you avoid issues in the immediate future as you take on these daunting projects? Preparing your team and strategically executing your plans become paramount.

Here are the four key steps to finance transformation (while avoiding common pitfalls):

1.     Base Your Strategy on Diagnostics—a clear, and prescriptive, goal should be informed by benchmarks.

2.     Adopt a Leading-Practice Orientation—every company is unique, but every organization shares a set of fundamental challenges. Tap industry-leading resources to offer guidance.

3.     Admit You’re Not a Software Company and Embrace the Cloud—homegrown solutions require constant updates; cloud solutions allow companies to digitize rapidly at scale.

4.     Harmonize Finance Data with the Enterprise—finance can be IT’s most valuable partner.

Webinars

F&A First: How SAP Customers Can Drive ‘No Regrets’ Transformation – June 9, 2022

Finance Transformation Series – June 15, 2022

Finance Innovation Week – June 21-23, 2022

Register for one or more webinars here.