My Close Management Software.
I certainly would to like to shave time off the month end close. Firstly, put an end to the boring manual tasks. Secondly, streamline the inefficient reconciliation processes. The result is gets numbers that accounts can trust. Therefore what is close software? The set of tools to complete your close process faster and with less risk and higher confidence.
Close management software helped me with all of that. For example it helps me keep my sanity intact. In brief, close management software helps accounting departments. There is no doubt it reduces close time, reduces errors, and streamlines financial reporting. Here’s how it works:
IT REDUCES DEPENDENCE ON MANUAL TASKS, FOR INSTANCE
ERPs and present day bookkeeping frameworks are incredible for follow up exchanges. They’re not incredible for accommodating record adjusts. That implies my staff depend on Excel to do every one of those tasks. To extract the information from my ERP to the spreadsheet requires a manual process for the most part and hence it is error prone. You should know that Excel can’t be secured. As a result, There’s no real way to follow when changes were made and by whom.
Close management software acts as the missing link. First, It connects between your ERP and your reconciliations. Second, close software automates my process of reconciliation. After that the process is a snap because systems can be easily compared. Some systems allow accountants to retain their familiar workbooks.
There is a dynamic link between the ERP and the reconciliations. When a journal entry throws a reconciliation off, the software flags this. I can then examine it as the exception. As a result I eliminated multiple versions of workbooks.
MY TEAM NOW HAS A STANDARD PROCESSES
My Excel checklists are great for keeping track of task. However they aren’t so good at sharing the instructions of the task.. Without documentation of how processes performed my team’s tribal knowledge becomes rampant.
With close management software, my departments’s processes can be easily documented. I create standardized workflows. My team continuously improve on them. When I add a new team member that becomes a piece of cake. I have no need to panic when a team member leaves. Someone else can pick up the pieces and keep the process active..
The best close software systems allow you to keep the work process the way you’ve established. They allow for the incorporation of your current checklists and procedures. If you don’t have processes, the system will help you create ones easily.
I CAN COLLABORATION EASIER
Traditionally, I control the process. I am the only one with access to the central checklist. The team no longer has a big picture view of the whole close process.
Close software makes the process transparent to everyone involved. It displays all the tasks and their status in a central dashboard. Everyone can easily see which controls are performed. Micromanagement is gone. There’s no need to waste time in status update meetings. In conclusion , no more endless email chains.
Job satisfaction gets a boost. Everyone on my team has a greater sense of ownership for their tasks. Above all, now creative thinking to find better solutions becomes the norm.
ALL MY DOCUMENTS ARE IN ONE PLACE
I no longer need to search bulky binders, file cabinets and email chains. Its easy for me to find that elusive document I need to tie out a balance. I even have the auditor’s PBC list. The Close software saves me a lot of time by storing documents with their associated accounting process. My new review process is faster. The dashboard shows My management team what’s ready for review. In conclusion all the documents the executives need are just a click away.
WE CLOSE FASTER AND BOOST ACCURACY AT THE SAME TIME
You have heard the traditional mantra for closing. You can get it fast or get it right. Honestly that is no longer the case. Our close management software helps my team get it done faster while making more accurate. The close software automates reconciliations, streamlines all my processes. The complex tasks are split into simple repeatable steps. In other words, it’s easier to get through them systematically and efficiently.
I AM CLOSING FASTER THEREFORE WE ALL HAVE MORE TIME TO DO WHAT REALLY MATTERS
When our management members get accurate numbers sooner, there’s more time for the strategic plan. We also now have time for higher order analysis. All this means we are ready to improve those results for the next month. I transformed my team of data processors into interpreters of information, for instance.
YOU SHOULD CHOOSE THE TOP-RATED SOLUTION. In conclusion Blackline
Gartner Defines Financial Close Solutions. Manage the financial close and apply appropriate controls throughout the accounting cycle.
Now that you know how close management software can help you save time and improve accuracy. Why not see how we can help you.
Blackline was created by accountants, for accountants. It’s an intuitive solution that fosters collaboration, we now report as a group together .
Blackline works with your existing checklists and Excel workbooks. You can be up and operational in less than two weeks. On average, Blackline customers close five days faster. Just imagine what could you do with three extra days every month?