Biotechnology and Pharmaceuticals
Compliance regulations impact all areas of your business, including your financials. Yet while you use the latest, greatest technology for research and development, your accounting team is stuck using old-fashioned tools—spreadsheets—to manage your close. Your spreadsheet-driven close is deadly to efficiency, accuracy, and transparency. Evaluating and managing the close via spreadsheets across multiple business units, often in multiple countries, is a laborious, time-consuming process. Worse, it’s highly prone to errors. One transposed number across tens or even hundreds of spreadsheets can turn a simple mistake into a financial—and reputational—disaster. And spreadsheets waste more than just time. Making skilled accountants manage reconciliations manually is a huge resource drain on one of your most valuable resources. Not only is this a terrible waste of time, it’s a dismal use of available talent. Accountants stuck aggregating, sorting, and emailing spreadsheets aren’t performing crucial analysis, identifying discrepancies, and informing big decisions that impact your bottom line. BlackLine improves the visibility, integrity and efficiency in your period-end close—at less cost. BlackLine Finance Controls and Automation platform automatically imports data from bank files, POS systems, sub-ledgers, and ERPs. Transactions are matched faster—one million per minute—yet with fewer errors, leaving accountants time to focus on analysis and discrepancies. And internal and external auditors can access records in real time, from anywhere in the world, without asking for files or waiting on emails.