BlackLine Blog

October 05, 2023

RSM's Key Takeaways from BeyondTheBlack 2023

Modern Accounting
2 Minute Read

BlackLine Magazine

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This post was written by RSM, a BlackLine Gold Alliance Partner. From initial implementation through expansion and optimization, we have the skill and real-world experience to deliver the right BlackLine solution for your unique needs.

More than a conference, BlackLine’s 2023 BeyondTheBlack was a thriving hub of innovation and connection. Attendees networked with peers, industry experts, and BlackLine professionals, fostering valuable relationships. The event featured insightful discussions, thoughtful demonstrations, and dynamic speaker sessions. These activities aligned perfectly with the BeyondTheBlack theme, sparking collaborative ideas and leaving participants enriched with insights.

Here are a few key takeaways from the event.

Accounting Studio

BlackLine’s platform for modern finance and accounting, Accounting Studio, offers three core pillars: Financial Close & Consolidation, Accounts Receivable Automation, and Intercompany Financial Management.

Among other benefits, Accounting Studio will provide a central place to unify, orchestrate, and automate various processes. Financial Close & Consolidation streamlines month-end processes, ensuring accuracy and automation. Accounts Receivable Automation accelerates cash flow and reduces manual work in invoicing and collections. Intercompany Financial Management simplifies complex transactions, minimizing discrepancies. The platform also connects data sources, automates workflows, leverages AI and analytics for enhanced insights, and ultimately optimizes financial operations for organizations.

Artificial Intelligence

BeyondTheBlack showcased an exciting array of innovations that are poised to transform and simplify the lives of finance and accounting professionals. At the forefront of these advancements is BlackLine's integration of artificial intelligence, which represents a giant leap forward in how we approach finance and accounting. AI empowers you to automate repetitive tasks, identify trends and anomalies with unmatched accuracy, and unlock valuable insights from your financial data. AI integration is about enhancing your capabilities, not replacing them, enabling you to work smarter and make more informed decisions.

Financial Reporting Analytics

BlackLine unveiled significant updates to its Financial Reporting Analytics (FRA) module, including future cash flow capabilities. While numerous organizations have successfully automated various essential close tasks, the process of consolidating and reporting financial data remains labor-intensive and manual. They often struggle to allocate time to investigate exceptions and face increased risk of human error when manually compiling their statements.

BlackLine’s FRA module provides real-time visibility into the group level and consolidated financial data, as well as visibility into underlying data. These developments underscore BlackLine’s unwavering commitment to making daily tasks more manageable and your financial operations more efficient than ever before.

Inspiring Keynote Speakers

The conference was further elevated by two outstanding speakers who left an indelible mark on all of us. First, the dynamic motivational speaker Jade Simmons graced the stage. Her words of resilience, adaptability, and unyielding determination struck a chord with the audience. Simmons encouraged us to embrace change, maximize our potential, and strive for greatness. Her message left us feeling inspired and determined to take bold steps in both our professional and personal lives.

Next came the renowned AI expert Maurice Conti, who shared valuable insights into the future of artificial intelligence. His vision of AI as a powerful force to augment, rather than replace, human capabilities opened our eyes to exciting possibilities. Conti's thought-provoking presentation sparked further excitement about AI’s growing impact on the world of finance and accounting, especially as it relates to BlackLine.

In closing, BeyondTheBlack 2023 was a great success. It showcased BlackLine's unwavering commitment to innovation and its mission to provide valuable solutions for finance and accounting professionals. We departed this conference inspired, connected, and poised to shape the future of our industry. Thank you to everyone who contributed to this extraordinary event. Together, we'll go beyond and carve out a path toward excellence.

Stay inspired and keep innovating!

Working with RSM & BlackLine

If you would like to discuss any of the points above or have questions regarding BlackLine’s close automation solutions, please reach out to RSM.

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