An F&A-first approach leads with data as a foundation and positions F&A to achieve quick wins, enable broader enterprise transformation, and provide long-term strategic value to the business.
IDG Market Pulse Research
of accounting and IT teams agree that time spent on accounting, compliance, and other financial close gets in the way of other strategic work
of CFOs have increased the frequency and scope of C-suite collaboration
of CFOs agree that it’s important to have real-time processes and operations in place to better inform business decisions
The rapid pace of change has highlighted the need for F&A leaders to harness their data faster and more effectively. F&A teams have embraced their expanding roles, but unprecedented demand for their time coupled with traditional manual processes make it difficult for F&A to execute effectively. Transformation is necessary to address these challenges.
While front-office functions have traditionally have a higher priority on the transformation agenda, an F&A-first approach limits dependency on the rest of the enterprise to drive transformation. Starting your transformation with F&A first is ‘no regret’ as it enables data as a foundation for decision-making and transformation of other business functions.
An enterprise-wide transformation is a significant undertaking that often takes years to plan and execute. But F&A teams cannot wait. Without addressing top challenges, F&A teams are faced with processes that take too long, cost too much, negatively impact talent retention, and limit business partnerships.
BlackLine allows F&A teams to deliver incremental capabilities that enhance visibility, automation, and control.
Finding the right technology that fits into your digital transformation strategy is important. F&A leaders need to ensure that the solutions they deploy will seamlessly integrate with their technology stack.
With BlackLine, there are no dependencies on existing architecture. BlackLine allows F&A teams to prepare and cleanse data by clearing open items and substantiating account balances ahead of other transformation phases, ensuring data problems are not migrated from legacy to transformed environments.
F&A first is a ‘no regret’ strategy that elevates performance not just in F&A, but across the entire company, as key stakeholders and decision-makers gain access to accurate data, faster.
By helping organizations create capacity for F&A, BlackLine enables F&A teams to make meaningful contributions to other leadership priorities and key areas of focus, such as M&A, ESG, and recruiting and retaining top talent.
An essential component to developing a digital transformation strategy is evaluating the company’s ERP system. ERP systems connect functions across the business for a more streamlined and collaborative organization.
Learn how SAP customers have used an F&A-first approach to establish a valuable transformation foundation.
Automation, visibility, and control for the financial close are among the four compelling reasons to implement BlackLine ahead of an ERP transformation.