10 Reasons accounting and finance teams utilize BlackLine for a more efficient financial close
Author: Imran Lodhi, Vice President, BlackLine Practice at TruQua
Here at TruQua, we’ve worked with a variety of enterprise customers helping them realize the full potential within their financial close processes. Through process automation, stronger controls, and streamlined close tasks, we’ve seen SAP customers extend their SAP investments and eliminate non-value adding activities. Below you’ll find the top 10 reasons our customers have looked to BlackLine for a more efficient financial close process.
Top 10 Reasons to Consider BlackLine
Close the books faster, reduce costs, improve morale Companies using BlackLine shorten their “days to close” by automating routine tasks and establishing better controls. As a result, resources can be redeployed to value-add activities. This reduces close-related expenses and increases employee engagement – making projects a win: win.
Get quick, impactful wins BlackLine projects can be completed in weeks, not years, and the time-to-value realization is almost immediate. ROI multiples are high and payback is quick, too. Best of all, end-users love using the tool as demonstrated by outstanding Net Promotor scores and low subscriber attrition.
Extend SAP’s functionality to automate your processes Being an SAP Solution Extension means that BlackLine extends SAP’s native functionality. It complements SAP by covering the post-ERP processes that finance and accounting teams need to perform manually every month. Blackline also covers SAP “white spaces,” providing the tools that teams need to close the books.
Create end-to-end close solutions Organizations can manage their entire close process in one place with BlackLine products which cover the entire spectrum of month-end activities. Highly integrated modules enable more automation, consistently making BlackLine the best-in-class Gartner choice.
Control all your businesses, in one place The same processes can now be used to close in multi-instance SAP environments. Being ERP-agnostic, BlackLine works equally well with non-SAP ERPs as well. This means creating a global “one-stop-shop,” using the same functionality, controls, and interfaces.
See what’s happening within close, anytime and anywhere Processes managed within BlackLine become instantly transparent. Corporate and leadership functions have global cloud-based visibility to close status, in real-time, supported by dashboards. Issues can be identified early and achievements celebrated loudly.
Take control of your tools Administration of BlackLine modules are “clicks, not code,” allowing the finance and accounting function to take control. This often results in quicker execution of expansion projects and more efficient maintenance projects by limiting dependence on IT resources.
Happy auditors, happy boss, happy life Central management of global controls enables standardization and enforcement of company policies. Thanks to BlackLine’s embedded segregations of duties, audit trails, automated workflows, and adjustment restrictions, audits are faster, easier and cheaper.
Create capacity to enable your transformation journey Frequently, large projects like SAP Central Finance create resource strains due to conflicts with key players’ day jobs. BlackLine can increase the success of these projects by making time through automation of tasks. The inherent business process transparency is also a huge advantage when transitioning to S/4HANA.
Right-size your projects Projects do not all have to be “big bang”. This is important if managing resources or looking to create momentum in a digital transformation journey. Companies can start small and later expand through subsequent projects, which assemble like building blocks due to the ease of module integration.
About the Author:
Imran Lodhi is the Vice President of TruQua’s BlackLine Practice and an experienced FICO project leader. He is a financially disciplined, operationally-oriented and strategic leader with a track record of driving growth in complex, global organizations. Imran’s experiences include leading finance transformation through simplification and innovation, delivering better results with fewer resources, and bridging accounting, finance, and operations to increase margins whilst creating scalable processes.
For more information on the Financial Close or TruQua’s services and offerings, visit us online at www.truqua.com. You can also access our most recent Financial Closing webinar featuring TruQua’s Chief of Financial Solutions, Kirk Anderson and SAP Accounting and Financial Close Expert, Elizabeth Milne of SAP: