BlackLine Helps You Confidently Execute Financial Accounting Close In Times of COVID
Recent world events have challenged companies in unprecedented ways, forcing them to rethink how they operate.
Modern Accounting needs to be redefined to adapt to times of uncertainty.
For accounting, this means adapting to a distributed workforce and virtually closing the books.
BlackLine helps companies adapt to a virtual closing process that builds trust during this crisis and beyond:
1. BlackLine helps you to unify the processes to achieve consistency, control and efficiency.
2. Moreover, it supports collaborating from anywhere, promoting responsibility and association through visibility.
3. Finally, BlackLine makes adaptation to a virtual closing process achievable quickly, allowing Accounting and Finance Teams to focus on urgent and emerging challenges.
PROBLEMS FACING FINANCIAL AND ACCOUNTING TEAMS DURING THE CRISIS
1. Accounting teams must adapt quickly to close the books with a distributed workforce in times of uncertainty.
2. Many accounting teams rely on traditional manual accounting processes to close the books.
3. Reliance on spreadsheets, tribal knowledge, and in-person communication is not sustainable, now more than ever.
4. The “always-done way” introduces risks, as companies must quickly switch to working from home and still deliver complete and accurate results by a deadline.
The traditional manual accounting process is not sustainable.
Additionally, manual processes and legacy tools consume accounting.
Third, they are too expensive, they cannot scale with change, and they create unnecessary risk.
From accountants to controllers / regulators to CFOs, the traditional way of doing accounting work causes pain for all members of the accounting team.
Lastly, these challenges are further exacerbated in this era of the coronavirus pandemic, Finance and Accounting teams are working in a distributed environment and must maintain compliance and control.
HOW CAN BLACKLINE HELPS YOU
BlackLine Cloud Accounting software enables companies to virtually close a process that is unified, collaborative and achievable, from wherever you are working.
It also provides a foundation for secure closure [in uncertain times] by enabling a virtual closure process that is unified, collaborative, and achievable.
Even better, BlackLine can be accessed from anywhere, can be remotely deployed and optimized, and enables modern accounting.
It should be noted that a virtual closure is unified: it means building trust and clarity through process standardization and allows coherence, control and efficiency with distributed teams.
A virtual closure is collaborative: it means access to data, activities and progress.
Virtual closure drives accountability and partnership through visibility, allowing teams to work together and complete closure from anywhere.
Plus, a virtual closure is achievable – building a virtual closure can be done quickly for immediate impact.
Replacing traditional manual accounting processes allows modern accounting to focus on other urgent and emerging challenges.
By adopting modern accounting in uncertain times, companies can gain confidence, internally and externally.
BlackLine provides a foundation that enables virtual closure that is unified, collaborative, and achievable.
BlackLine helps organizations embrace modern accounting in uncertain times:
1. Delivers accurate results with confidence from anywhere.
2. Meets ongoing business needs and accounting requirements for performance analysis, planning, and decision-making in light of this new normal.
3. Also creates precision, control and consistency in each process.
4. Reduces errors and risk with standardized processes unified on a cloud-based platform with integrated workflow and controls across all accounting processes.
5. Drives accountability and partnership through visibility.
6. Greater visibility makes work more efficient, ensures confidence in the state of processes, and generates greater trust throughout the organization.
7. Also, get ready and run a remote. Manage PBC lists and share information efficiently and securely.
8. Finally manage tasks and documents. Preserve critical documents and track progress to close and other key Finance and Accounting tasks in one place.
Are you interested in learning about the leading Financial Closing software?
Do you want a Free Workshop on how to close books virtually?
We can help your Accounting & Finance Department with the Challenges of Accounting in uncertain times.
Schedule a demo with one of our specialists