BlackLine Home page BlackLine home page
Solutions
Solutions
Financial Close Management
Financial Close Management
Overview
Overview
Account Reconciliations
Account Reconciliations
Task Management
Task Management
Transaction Matching
Transaction Matching
Journal Entry
Journal Entry
Compliance
Compliance
Variance Analysis
Variance Analysis
Smart Close for SAP
Smart Close for SAP
Accounts Receivable Automation
Accounts Receivable Automation
Overview
Overview
Cash Application
Cash Application
Credit & Risk Management
Credit & Risk Management
Collections Management
Collections Management
Disputes & Deductions
Disputes & Deductions
Team & Task Management
Team & Task Management
AR Intelligence
AR Intelligence
Intercompany Financial Management
Intercompany Financial Management
Overview
Overview
BlackLine Intercompany
BlackLine Intercompany
By Organization Size
By Organization Size
Midsize Organizations
Midsize Organizations
Large Enterprises
Large Enterprises
By Industry
By Industry
Banking & Financial Services
Banking & Financial Services
Consumer Products & Services
Consumer Products & Services
Energy & Raw Materials
Energy & Raw Materials
Healthcare & Life Sciences
Healthcare & Life Sciences
Manufacturing
Manufacturing
Retail
Retail
Technology, Media & Communications
Technology, Media & Communications
See All Industries
By ERP
By ERP
SAP
SAP
Oracle
Oracle
Oracle NetSuite
Oracle NetSuite
Microsoft Dynamics
Microsoft Dynamics
See all ERPs
Customers
Customers
Customer Success
Success Stories
Success Stories
Collaborative Accounting Experience
Collaborative Accounting Experience
Modern Accounting Playbook
Modern Accounting Playbook
Training & Education
Training & Education
CUSTOMER SUPPORT
Global Support
Global Support
Developer Portal
Developer Portal
BlackLine Community
BlackLine Community
Resources
Resources
Events
Events
Upcoming Webinars
Upcoming Webinars
On-Demand Webinars
On-Demand Webinars
White Papers
White Papers
Blog
Blog
Accounting Glossary
Accounting Glossary
Global Support
Global Support
About
About
Company
Company
About BlackLine
About BlackLine
Leadership
Leadership
In The News
In The News
Press Releases
Press Releases
Investors
Investors
Awards & Recognition
Awards & Recognition
Careers
Careers
Partners
Partners
Consulting Alliances
Consulting Alliances
Solution Provider Partners
Solution Provider Partners
Software & Cloud Partners
Software & Cloud Partners
Business Process Outsourcers
Business Process Outsourcers

Elevate Your Impact & Engage Your Teams with Continuous Accounting

image

Part 2 of the What Is Continuous Accounting? blog series. Read Part 1 first.

Data-driven. Results-oriented. Leader. Advocate for change.

How many of these phrases describe you? And how often are you able to use these abilities to drive process improvement during the workday?

As an accounting and finance professional, you have a unique set of skills. And in our increasingly competitive business world, your organization needs those skills more than ever. But when your teams are buried by a high volume of transactions to match and reconcile — manually — these invaluable skills can become buried, too.

This calls for a new approach in 2018. One that integrates finance automation and process improvement to enable accounting and finance to become a true partner to the business. One that equips you to finally break the cycle of barely surviving at work to thriving — even during the financial close. We call this new approach Continuous Accounting.

The Continuous Accounting Model

Continuous Accounting embeds automation, control, and period-end tasks within daily activities to align the accounting schedule with the rest of business. This allows accountants to perform close tasks throughout the month, smoothing out those dreaded end-of-period spikes.

This model lays a foundation for real-time data to fuel analytics and gives CFOs insight into the strengths and weaknesses of the business. Accountants can permanently come up for air, and reallocate the time previously spent on manual processes to value-adding activities.

The Heart of Continuous Accounting

An automated matching process is at the heart of Continuous Accounting. When accountants are manually matching and reconciling thousands of transactions, there is little time for anything else. It’s so easy to get stuck in this process, trying to figure out why a particular transaction isn’t matching, as the hours tick by.

A finance automation solution automates detail-heavy reconciliations in minutes, identifying the unmatched transactions. This can be done on a daily basis, whenever the data comes in, instead of waiting until the end of the month. Your workload becomes more predictable, and with the most tedious manual work done automatically, your teams have the time to focus on researching the exceptions.

Elevate Your Role & Engage Your Teams

This saves a significant amount of time and allows you to finally refocus on providing strategic guidance to the business—such as improving internal processes or finding cost-saving opportunities. It creates the opportunity for you to apply not just knowledge and expertise, but also nuanced creativity and intelligence.

Utilizing these skills and strengths can be extremely fulfilling, elevating your role within the organization and engaging your teams. Balanced workloads and meaningful work end the era of turnover due to burnout, and the increased level of retention will be reflected in your bottom line.

Increase Your Impact on the Business

Companies that have continuous visibility into financial resources and capabilities can also seize marketplace opportunities as they appear. Real-time analysis is really what enables organizations to pivot when the economy changes, a new start-up gets uppity, or customers suddenly demand new products and services.

Continuous Accounting enables accounting teams to play an integral role in these pivot points. When you are freed to spend your brain capital on analysis and strategy, you become more agile, responsive, proactive, and equipped to partner with the broader business during critical organizational change.

This shift also changes the way you and your teams work every day, allowing you to be more productive with fewer resources, greater controls, and increased accuracy. It sets you apart in the industry, empowering you to add value to the business, and preparing you to ride these continual waves of change and disruption. It provides the framework you need to thrive and frees you to be exceptional.

Read Part 3 in the Continuous Accounting blog series.