For manufacturers, closing the books is a complex and unique process. Unlike many industries which have more centralized procedures, manufacturers depend heavily on steps completed at local plants or sites. Further, these plant-level closing activities often need to be done on a more frequent basis than at month-end.
In fact, many manufactures perform a “soft close” on a weekly, sometimes daily basis just to keep up with requested information needed by management.
Revaluing inventory, calculating cost of goods sold, reconciling and analyzing reserve accounts, and reporting on purchase price variances are just a few of the recurring activities that need to take place.
Some of these activities can be centralized and tracked in SAP, but manual processes and calculations in spreadsheets remain—creating significant bottlenecks.
Read Purpose-Built Automation for Manufacturing to see why manufacturers are turning to purpose-built robotic process automation (RPA) to allow for more time spent on performance analysis. This use case spotlight highlights:
Unique challenges faced by accounting teams in the manufacturing industry
How you can shift your time from manual, repetitive tasks to more strategic activities
Why manufacturers choose Smart Close—BlackLine’s purpose-built RPA solution embedded in SAP