BlackLine Home page BlackLine home page
Solutions
Solutions
Financial Close Management
Financial Close Management
Overview
Overview
Account Reconciliations
Account Reconciliations
Task Management
Task Management
Transaction Matching
Transaction Matching
Journal Entry
Journal Entry
Financial Reporting Analytics
Financial Reporting Analytics
Variance Analysis
Variance Analysis
Smart Close for SAP
Smart Close for SAP
Accounts Receivable Automation
Accounts Receivable Automation
Overview
Overview
Cash Application
Cash Application
Credit & Risk Management
Credit & Risk Management
Collections Management
Collections Management
Disputes & Deductions
Disputes & Deductions
Team & Task Management
Team & Task Management
AR Intelligence
AR Intelligence
Invoicing & Compliance
Invoicing & Compliance
Intercompany Financial Management
Intercompany Financial Management
Overview
Overview
Intercompany Non-Trade
Intercompany Non-Trade
Intercompany Balance & Resolve
Intercompany Balance & Resolve
Intercompany Net & Settle
Intercompany Net & Settle
By Organization Size
By Organization Size
Midsize Organizations
Midsize Organizations
Large Enterprises
Large Enterprises
By Industry
By Industry
Banking & Financial Services
Banking & Financial Services
Consumer Products & Services
Consumer Products & Services
Energy & Raw Materials
Energy & Raw Materials
Healthcare & Life Sciences
Healthcare & Life Sciences
Manufacturing
Manufacturing
Retail
Retail
Technology, Media & Communications
Technology, Media & Communications
See All Industries
By ERP
By ERP
SAP
SAP
Oracle
Oracle
Oracle NetSuite
Oracle NetSuite
Microsoft Dynamics
Microsoft Dynamics
See All ERPs
By Topic
By Topic
Environmental, Social, and Governance
Environmental, Social, and Governance
Recruiting & Retaining Top Talent
Recruiting & Retaining Top Talent
Enabling an ERP Transformation
Enabling an ERP Transformation
CFO & CIO Collaboration
CFO & CIO Collaboration
F&A Transformation
F&A Transformation
IPO Readiness
IPO Readiness
Mergers & Acquisitions
Mergers & Acquisitions
Revenue Cycle Optimization
Revenue Cycle Optimization
Regulatory Compliance
Regulatory Compliance
Customers
Customers
Customer Success
Success Stories
Success Stories
Community
Community
Services
Services
Overview
Overview
Professional Services
Professional Services
Training & Education
Training & Education
Customer Success
Customer Success
Transformation Services
Transformation Services
Global Support
Global Support
Resources
Resources
Events
Events
Upcoming Webinars
Upcoming Webinars
On-Demand Webinars
On-Demand Webinars
White Papers
White Papers
Blog
Blog
Accounting Glossary
Accounting Glossary
Developer Portal
Developer Portal
About
About
Company
Company
About BlackLine
About BlackLine
Leadership
Leadership
Diversity, Equity & Inclusion
Diversity, Equity & Inclusion
Environmental, Social & Governance
Environmental, Social & Governance
In the News
In the News
Press Releases
Press Releases
Investors
Investors
Awards & Recognition
Awards & Recognition
Careers
Careers
Partners
Partners
Consulting Alliances
Consulting Alliances
Solution Provider Partners
Solution Provider Partners
Software & Cloud Partners
Software & Cloud Partners
Business Process Outsourcers
Business Process Outsourcers

Finance Faceoff: Technology vs People

image

Dim the lights and cue the music. The global business world is set to take the stage in yet another dramatic showing of: Technology versus People.

In the past few years, there’s been growing discomfort around the increasing power of technology and its potential impact on employees. The result is a divide between the people who view advanced technology as a threat, and those who view it as an opportunity.

While choosing sides is important for a philosophical debate, we do not actually have to choose sides in a man versus machine battle.

The truth is, technology equips accounting and finance professionals to be exceptional. And organizations need both technology and people to be most successful.

The Technology Advantage

Technologies such as the cloud, artificial intelligence (AI), and robotic process automation (RPA) have brought us a new way of doing business. These tools and platforms have reinvented the way we work, and their continuous advancements provide opportunities to reimagine, to elevate what the finance function could look like.

Companies who adopt the right technology will be positioned as industry leaders and gain competitive advantage. Accelerating the pace at which information is available and in which tasks can be completed will allow for quicker speeds to market with better information.

Why People Will Always Win

Even with the newest and best technology, companies still need talented people. More than ever, organizations need strategic decision-makers with analytical skills and an understanding of the business that goes beyond their functional responsibility.

Accountants whose days are consumed by lengthy checklists of manual tasks don’t have the time for these business-critical activities. And this is where technology comes in.

As technology automates the rote work that dominates accountants’ time, especially during the period-end close, accountants finally get to become the exceptional assets they’re striving to be.

Ultimately, the success of an organization will depend on its ability to correctly balance talented people with technology. This balance is achieved by combining smart technologies with the brains, emotional intelligence, and interpersonal skills of talented people.

As Klaus Schwab, the founder of the World Economic Forum predicts, businesses will find success when they “shape a future that works for all by putting people first, empowering them and constantly reminding ourselves that all of these new technologies are first and foremost tools made by people, for people.”