BENEFIT #1 GET A FASTER, BETTER CLOSE WITHOUT WORKING OVERTIME!
By standardizing, organizing and automating many of the processes around month-end close, accountants can reduce their work load, spend more time on value added tasks and avoid the late night number crunching. Dashboards and realtime
information allow management to see the status of the close process thus allowing them to quickly and easily identify any issues that may compromise the financial close timeline.
BENEFIT #2 IMPROVE THE QUALITY OF YOUR ACCOUNT RECONCILIATIONS WITH AUTOMATION & STANDARDIZATION
With so much time being spent on data entry (GL and Subledger balances, supporting items, documents and comments) accountants and management are left with very little time, if any, to truly analyze the risk within their financial statements. With the automatic creation, population, and certification of certain low risk reconciliations (such as zero balance accounts, subledger matches, prepaids and many others) accountants can shift their time and skills to the highrisk accounts and other value added activities. Standardized templates (Accruable, Amortizable Prepaid, Bank Account, Calculated Balance, Subledger Match and more) guide the preparer into proper reconciliation techniques instead of roll forwards, regurgitation, and plugs. Standardized workflow, reporting, and auditing tools guarantee that no accounts are missed and exceptions are identified proactively.
BENEFIT #3 LOWER THE COST OF YOUR FINANCIAL CLOSE USING BLACKLINE
BlackLine can help you save money in the following areas: time spent preparing reconciliations and manual journals (25-65% reduction), time spent tracking and reporting on status of the close, time spent reviewing and approving by senior staff, paper and printing costs, storage costs, and audit-related time and materials. Features like auto-certification of low-risk account reconciliations and real time notifications allows for seamless and more efficient workflows. Auditors can also benefit by accessing BlackLine to review account reconciliations, supporting documentation and the appropriate workflows without having to wait on the staff to locate documents and make photo copies. BlackLine has helped hundreds of companies streamline their close activities and significantly reduce the cost of the close.
BENEFIT #4 VIRTUALLY ELIMINATE SPREADSHEET ERRORS, BINDERS, PAPER AND STORAGE COSTS
FROM YOUR FINANCIAL CLOSE PROCESS Enough said...
BENEFIT #5 EXPANDED CONTROL AND VISIBILITY
Some common challenges around the month-end close are making sure that the financial information is accurate, deadlines are met, and policies and procedures are consistent throughout the organization. This is even more of a challenge for global or decentralized companies with multiple currencies and languages. BlackLine’s real time dashboards and robust reporting capabilities allow management up-to-the-minute visibility into all locations to better monitor the progress of all close activities
throughout the organization.
BENEFIT #6 ENSURE BALANCE SHEET INTEGRITY
A company’s balance sheet is the most comprehensive indicator of how a company is doing. Ensuring that this information is accurate is extremely critical but not always easy to achieve. BlackLine’s Finance Controls and Automation Suite optimizes the entire close process so that CFO’s, Controllers and Auditors can confidently rely on the integrity and accuracy of the numbers.
Blackline in numbers