Blackline Industrial Transformation Series
Discover Modern Tools to Improve Reconciliations
Businesses use data generated and verified by Accounting to know how they are performing, to manage operations, and to make key business decisions. This new Industrial Transformation Series describes how to empower the accounting and finance function to manage and control the end-to-end financial close process in Industrial Sector.
This is the primary reason Accounting exists in the first place. And with the accelerating pace of business today, accurate, up-to-date data is more essential than ever.
Now Blackline is the finance transformation solution in Industrial Sector.
So then shouldn’t the Accounting department be managed in the same way? CAOs, Controllers, and Finance chiefs need operational and performance data to know how their department is performing, to efficiently manage their operations, and to enable data-driven decision making.
Whether it’s month-end, quarter-end, or year-end, Finance and Accounting have one universal goal: to provide a timely, flawless accounting close.
If your accounting department is like most, you face tight deadlines, which often promote higher stress levels and very unmotivated accountants. The idiom rings true: demands are always shifting downhill to Accounting where we have fewer resources and less time to do all this work.
Manufacturers need access to real-time, accurate financial information more than ever before.
Stricter regulations and fluctuating economies demand agility and an even faster response to market demands.
However Accounting and Finance teams are still doing things the old-fashioned way—with spreadsheets. Spreadsheet-driven accounting limits visibility into the vital financial data needed to inform daily decisions and leaves little time for the in-depth analysis required to address risk and drive process optimization.
BlackLine’s Finance Transformation Solution empowers the accounting and finance function to manage and control the end-to-end financial close process by automating accounting workflows, providing a centralized and secure workspace to perform period-end accounting activities, and streamlining financial reporting.
The resulting absence of complex, manual, and error-prone steps inherent in dated accounting practices, enables teams to focus on analyzing discrepancies and uncovering new ways to create value for the organization.
Accounting organizations are at the center of rapid change. As the compliance landscape becomes increasingly complex, effectively managing internal controls is top of mind. Companies need to balance the increase of scope plus the change with efficiency.
Read the CFO Playbook: Compliance & Controls to learn about the regulatory changes that will impact your organization, and how to achieve elevated controls in the midst of growth.
You will also discover strategies for: complying with new tax regulations and changes to auditor’s report, preparing for a changing risk framework, managing controls around financial reporting.
On average, BlackLine customers have received $2.67 for every dollar invested, with a nine-month payback period and low total cost of ownership (TCO). Nucleus analyzed case studies from eight BlackLine deployments to identify key financial metric averages.
Project data shows consistent returns across several markets for BlackLine’s financial close and consolidation software, and customers lauded their customer service as a compelling differentiator.
In today’s technology-driven world, fast-growing accounting and finance organizations must balance speed and efficiency with completeness and accuracy. But all too often, teams are tasked with more responsibilities while maintaining the same headcount.
While the demands of growth may seem daunting, financial close and compliance automation technology specialize in gaining control over end-to-end accounting processes.
Why do many organizations, regardless of size, continue to rely on time consuming, manual accounting processes?
Because change can be difficult and seem risky. And because the hard-wired fear of the unknown is still more powerful than annoyance and frustration with the known.
But the truth is, change gives accounting professionals the chance to spend more time on meaningful work, and creates more agile, flexible, and innovative organizations with Blackline.
Read this white paper for seven powerful ways to evolve your accounting processes.
Given the recent high-profile examples of what happens when financial data isn’t accurate, we began wondering how executives felt about the accuracy of their own data.
This white paper contains the results of a global survey we conducted to answer this question.
Get your copy to discover what our research revealed, including the hidden problem that’s stemming from a lack of visibility, what’s driving a heightened and unnecessary level of risk for many large organizations, and the implications of reporting errors and hidden inaccuracies, both externally and internally.
Ever-growing regulatory and oversight rules have led to increased costs and pressure to maintain compliance. This heightened focus on controls provides opportunities for companies to invest in people and technology that help minimize the impact and cost of compliance.
It also provides the public with a fair and accurate assessment of a company’s financial well-being.
Here are 5 ways that SOX has impacted accounting and finance today included in Blackline Industrial Transformation Series.