The Financial Close Suite is critical and can be easily improved

Replace your spreadsheet, manual processes, and one-off communication with an accounting operations system and gain control, transparency and efficiency. With a simple, low impact implementation and an annual ROI in excess of 300% the software pays for itself in  months and is transforming accounting operations the world over.

BlackLine's Financial Close Suite features six integrated modules which provide extensive control, visibility risk mitigation and automation to accounting and finance teams.

 

Benefits:

 

 

Visibility

Monitor and manage your daily operations, audits and the financial close with real-time reports and dashboards. Additionally, drill down capability allows you or your managers to quickly view work done by a single entity.

 

 

Risk Mitigation

Reduce risk and ensure financial accuracy with automated flux analysis, exception handling and dynamic risk ratings for all accounts. Ensure that every single account, journal entry or process step is properly completed and attested to be multiple individuals

 

 

 

Compliance and SOX

Build repeatable, testable, audit-ready practices and enforce your company policies for daily operations and the month-end close. Embedded controls, automated data entry, and mandatory reviews/approvals ensure that you never worry about being cited for material weaknesses.

 

 

Streamline and Automate

Scale your accounting operations without additional resources. Automate your journal entries, high volume transaction matching and balance sheet account reconciliations

 

Build a Better Process

Transform your financial close with an automatic workflow approval process, email alerts and the ability to schedule and track system and human tasks. Reduce or eliminate error-prone spreadsheets and the binders, boxes and storage rooms in which they reside

Solutions Include

 

Financial Close Management

BlackLine Financial Close Management empowers accounting and finance leaders to gain full control over the financial close process by automating accounting workflows, providing a secure workspace to complete period-end accounting activities, and streamlining financial reporting. Automation removes much of the complex, manual, and error-prone steps inherent to dated accounting practices, and frees accounting departments to add more value to the business by shifting focus from processing transactions to analyzing them. The Financial Close Management solution also enables a new approach called Continuous Accounting. This approach moves beyond the linearity of the legacy record-to-report process and more evenly distributes workloads over time while facilitating the continual monitoring for errors, fraud, and inefficiencies. BlackLine enables more than 1,300 companies to realize an accurate, efficient, and compliant close.

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Account Reconciliation

Reconciliation Management modernizes period-end accounting by enabling users to automate, streamline, and manage reconciliations at the transaction, balance sheet or even consolidation level with several key products across BlackLine’s unified Finance Controls and Automation platform. The BlackLine Reconciliation Management Solution speeds up period-end accounting for more than 1,300 clients around the world with comprehensive multi-currency functionality and support for IFRS and GAAP standards. This solution delivers a critical milestone on the journey to Modern Finance by standardizing internal processes, decreasing risks of error and inaccuracy, and providing critical visibility into processes and accounting operations. Accelerate your period-end account reconciliations and other operational reconciliations and move beyond manual, error-prone, spreadsheet-driven processes

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Intercompany Hub

The BlackLine Intercompany Hub is a clearinghouse for intercompany transfer agreements and transactions that eliminates the need for after-the-fact manual intercompany reconciliations, netting, and settlement. The Intercompany Hub centrally interfaces with all of a company’s core ERPs and other systems, creating intercompany transactions and distributing data and automated journal entries from a centralized system. This provides the means for a single process for agreeing to, creating, posting, and settling intercompany transactions. With a single process, companies gain the highest degree of data integrity and regulatory compliance. All of the complexity inherent to intercompany accounting and intercompany reconciliations, including issues over currency exchange rates, transaction amounts, recorded taxes, journal entry creation, and approval workflows, are neatly and automatically managed within the Intercompany Hub.

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BlackLine Insights

Over 130,000 users from more than 1,300 companies of all sizes and industries use BlackLine software solutions to streamline and automate period-end and other accounting processes. Accountants around the world are reconciling accounts, posting journal entries, and executing tasks every period in BlackLine. Insights takes this information, anonymizes it, and turns it into actionable intelligence, enabling CFOs and Controllers to see how their team, department, and company stack up against different industries, geographies, and company sizes across KPIs specific to accounting and finance operations.

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