BlackLine’s Value Proposition & Impact on my Staff
Have you ever
asked “How Long Should my CLOSE Be?”. If you spend more than 5 days closing your books, you really haven't benchmarked yourself against your
peers! The article posted by expert CFO, Doug Ryan, shares reasons why the financial close should be ONLY 5 DAYS!
Ask yourself, “Why do accountants repeat the same manual accounting close process?”
Today, we have smarter ERP systems to
fast track certain transactions and integrate our various business processes like sales, warehouse management, and others. But when you look
at the financial close process, it still continues to be a heavy-weight with long hours each period with numerous Excel driven checklists, worksheets
of reconciliations, and hours spent on matching the obvious. Of
course those last minute adjustments need to be updated into the already completed and closed out reconciliations. All of this is fueled by
lots and lots of coffee!!
What if the close process is automated, your work is streamlined across the month or quarter instead of sharp peaks at period ends?
What if the bulk of your accounts are auto reconciled with a click!? And who wouldn’t love to have the obvious be matched automatically
so you have more time for those key strategic tasks, analytics, cross
trainings, and move up the career
What about your Audit Committee members- how much comfort will they have on the effective risk assessment making its way to your accounts and reconciliations?
OK, moving beyond just account close, there has been a magnifying glass on the accounting treatments and review processes- let’s not forget the SOX
Auditors. What if there was a system-driven
grassroot level sub-certification on each key reconciliation and task completion? Wouldn’t your C-Suite love to have detailed and documented
bases to put those 302, 906 and 404 certifications!
We here at Aviva Spectrum have put together a very short video to quickly introduce
you to what a BlackLine environment means to your staff and its value proposition. Have a look at this brief 10 min video here.