Oil and Gas
You’re facing big challenges. Freefalling prices. Competition from new industries. Instability across the globe. Having the big picture in real time of all your business processes is key to surviving—and thriving—amid volatility. Yet your period-end close is anything but big picture. While your production, employee management, and even assets are managed and automated via the best technology tools, your close process is still highly manual. Every month, accountants work furiously to manage hundreds of spreadsheets, emails, and signoffs to get you the big picture of your close—a week later. The traditional close process isn’t just time-consuming. Without the up-to-the-minute, big picture of your close, you’re never sure where you stand financially. And that’s bad news when stocks drop, a pipeline bursts, or a new energy competitor comes online. Reacting to challenges wisely with available resources requires real-time, financial visibility—without searching through binders of reconciliations or aggregating Excel files. Plus, a manual close can’t deliver true accuracy. Consider one misplaced number in one cell multiplied by 100—or a 1,000—spreadsheets. A simple mistake quickly becomes a financial disaster, and maybe a reputation and compliance one, as well. And manual data entry translates to a terrible ROI on your most valuable resource: your people. When accountants are mired in rote tasks, they’re not doing the work that can help you weather volatility, such as analysis and strategy creation. BlackLine can help you create an efficient, accurate close with real-time visibility. 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.