Software like BlackLine can help make key parts of the record-to-report process more efficient.
A key question is “What’s next?” At KPMG, we often recommend looking at enabling technology as more than just a tool for accounting and finance teams to use from Day 2 through Day 12 of the month-end close (or longer).
In our experience, there are capabilities and features related to more than record to report or month end. Our suggestion is to go upstream from the financial close to look for opportunities to gain more value from an investment in the software.
Going North means looking upstream prior to the close and up into the transactions. BlackLine’s platform includes an Intercompany Hub solution that equips companies to look North.
But what about the other opportunities? What about helping with the reconciliation of the rebates process? What about reconciling sales credits?
What about supporting matching for complex invoice adjustments based upon complex (or unclear) contracts? What about managing and executing ongoing manual journal entries throughout the month?
And let’s not forget about enabling management, reconciliation, and updates of data being executed by other extreme automation choices such as RPA, blockchain, Cognitive, and other financial cloud tools.
Going North means considering the integration of existing investments in technology like Blackline into the other automation options to help drive your total finance architecture.
Sounds interesting, doesn’t it? Stop by the KPMG booth during InTheBlack from Monday, November 12 through Thursday, November 15 to continue this discussion in the context of your processes and opportunities. We’re ready to help your organization find opportunities to get more value by looking North.
Also, be sure to attend KPMG’s session at InTheBlack on Tuesday, November 13 at 1:35 pm. You will learn how KPMG worked with Molson Coors to apply best practices and implement BlackLine designs to meet those requirements.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.