CLOSING IN 10 DAYS
The BlackLine software has helped Pluralsight cut its monthly close to 10 days from as many as 15 days previously. Reviewers no longer have to wait for an entire workbook to be completed before examining reconciliations.
“As a preparer completes a reconciliation, the approver can go into BlackLine and review just that item, as opposed to waiting for all recs to be done,” says Hanson.
The automated close also supports Pluralsight’s SOX 404 compliance.
“With SOX 404, there are strict requirements on the preparation and review of reconciliations,” Hanson says. “BlackLine ensures that we’re not only more organized in how we go about the reconciliation process, but also more confident about knowing that the files are locked once they’re closed. No one can change the data.”
Pluralsight now has visibility into the close processes, which benefits everyone from accountants to investors.
“If you’ve ever worked in an accounting department, you know people are always asking ‘Are you done yet?” says Hanson. “With BlackLine, we’ve removed the need for that question. We can instantly see, via the dashboard, how many recs have been reviewed and approved – and how many haven’t been started.
“Also, our management team and investors need accurate, timely financial information. Because our constituencies receive information faster, they’re able to make better decisions based on relevant, real time information.”