A virtual close is no longer an aspiration. It’s now a necessity, thanks to COVID-19.
What Is a Virtual Close?
A virtual close is the successful monitoring and execution of period-end financial close processes in a distributed environment.
A virtual close means that accounting and finance teams can unify data and processes across disparate systems, and collaborate from home or anywhere they are with visibility into and reporting on all activities. It means they can close with confidence in uncertain times, and beyond.
Building Confidence with Resources & Technology
The good news is that modern technology enables a virtual close. The challenge is that many accounting and finance teams continue to rely heavily on traditional manual processes, which makes it difficult to adapt confidently and smoothly.
That’s why BlackLine has created a Virtual Close hub with resources to help F&A professionals navigate this new reality of uncertainty and change.
The Hub offers links to articles, webinar invitations, and tips and tricks that can help guide accountants and finance teams through the new close-related challenges they’re facing every day. You can find valuable resources like:
- A white paper from EY and BlackLine about how to effectively manage your close process virtually
- An on-demand panel webinar about how F&A can adapt during these uncertain times, with perspectives on our new “normal” from Deloitte, EY, SAP, and BlackLine
- A white paper about building a more resilient accounting organization in this time of uncertainty
According to Molly Boyle, senior manager for solutions marketing, the hub is intended to distill and pass on the knowledge and leading-practice experiences of BlackLine, its partners, and its customers.
“We consult regularly with our own subject matter experts and network of industry specialists and alliance partners, and we turn that knowledge into support for accounting and finance professionals as they navigate their virtual close,” says Boyle.
“We’ve been talking with customers who recently completed their first virtual close, and have been gratified to hear that they really didn’t miss a beat. They found our BlackLine solutions a source of comfort as they made the shift.”
Visit our Virtual Close hub page for the resources you need to effectively work with a distributed workforce in these uncertain times. We’re regularly updating the page, so check back often for new content and events.