Despite the uncertainty facing many organizations, one thing remains certain: the business still depends on Accounting to deliver an accurate picture of their financial health. Without diminishing other challenges, Accounting is also tasked with adjusting to a virtual close, quickly.
Today, BlackLine announced a solution to help midsize companies ramp up fast. The Modern Accounting Playbook, or MAP, guides teams to achieve a collaborative and continuous close from wherever they’re working.
What is the Modern Accounting Playbook?
BlackLine created MAP so accounting teams of all sizes can implement close management essentials quickly and effectively.
From our experience working with over 3,000 customers, we’ve observed that the path from traditional, manual accounting to modern accounting is different for small to midsize companies and enterprise-level corporations.
As a result, we have defined achievable routes for each type of company. Our Modern Accounting Playbook delivers purpose-built solutions based on leading practices to unify data and processes, automate repetitive work, and drive accountability through visibility.
BlackLine’s MAP for Midsize Companies
A virtual, automated close is now achievable for small to midsize companies. Here’s what the playbook looks like for a team of 5-30 accountants.
- Guided success. Our 60-90-day guided implementation delivers leading practice settings, templates, and reports for rapid time-to-value. Custom training paths and a dedicated community of users further ensures that teams succeed.
- Integrated data. Data flows seamlessly from your ERP to BlackLine for a complete and accurate picture of daily, monthly, and quarterly activity. Spend less time on manual uploads and data entry and foster a more efficient remote workforce.
- Standardized reconciliations. Paper files and binders simply won’t cut it with a distributed workforce. By closing in the cloud, reconciliations can be accessed from anywhere at any time. Apply rules-based automation to further simplify and streamline the process.
- Visibility into virtual workforces. Adjusting to the newly remote close can mean additional meetings on top of normal planning meetings. BlackLine allows you to take back your time. We get you up and running with preset close tasks and alerts, role-based workflows, and key reports and dashboards for real-time visibility into status, upcoming tasks, and team assignments.
- Automated high-volume matching. Benefit from automated GL and bank data extracts and preset rules to reconcile high-volume bank transactions automatically. By automating repetitive work, accounting teams can reduce redundancies, shift work to value-adding analysis, and boost employee morale.
- Embedded controls. Because audits and reviews must now be conducted remotely, virtual access to control evidence is paramount. With BlackLine, controls are automatically embedded and activity is automatically recorded through an audit trail. The logistics of coordinating an audit are one less thing to worry about.
And that’s just the beginning. We’ve created a complete pathway to modern accounting success that scales with you despite big changes to the business. Whether you want to automate journal creation and approval or ensure that effective processes are in place to expand internationally, we’ve been there before and will lead the way.
As a trusted guide, BlackLine provides a clear vision and plan to help you accomplish all of your modern accounting goals, even in these uncertain and unprecedented times.
Schedule a meeting with one of our experts to learn more.