Financial Close Management
A modern solution to the traditional financial close issues faced by accountants and finance leaders in business. This solution focuses on the repetitive nature of the traditional methods and automates or simplifies these tasks and processes to deliver a fast and accurate method of management for your financial close process.
The BlackLine products combine to enable businesses to embed automated controls and processes within the close process. By replacing manual processes with automation you reduce the risk of errors and discrepancies through continuous monitoring of your data and the task execution involved in the financial close. This provides an end-to-end transparency and is easily auditable with clear accountability. By automating repetitive tasks the system performs these far more efficiently than previously and removes the possibility of human error.
Segregation of duties is accomplished by use of the task profiles and the full process is monitored for accuracy throughout. Controls can be tailored to meet specific requirements relating to business, regulatory or other requirements. Effort at period end can be minimised by the concept of ‘Continuous Accounting’ whereby tasks that can be completed during the period are carried out as soon as possible in the cycle.
Financial Close Management incorporates the other BlackLine Solutions in a seamless manner to provide a full close process that can include Inter-company Reconciliation, currency translation and efficiently bridges the gap between your ERP systems and your CPM systems.
The reduction in effort required allows the financial resources to concentrate more effort on analysis and less on processing.
BlackLine is ERP system agnostic so you can connect multiple disparate sources into a single BlackLine instance.