BlackLine’s MAP for Midsize Companies
Date published
May 19, 2020
Company
Blackline
A virtual, automated close is now achievable for Midsize companies. Here’s what the playbook looks like for a team of 5-30 accountants:
If you’re beginning from a standing start—a spreadsheet, email, and paper-based close processes, bank matching that’s performed by hand, or manual reconciliations and ERP extracts—then you have an immediate transformation opportunity.
Here are three quick-win opportunities you can move on right now:
- Get more speed and less risk in the financial close by moving to digital role-based workflows to get more control over the process. Real-time dashboards and reports show the status of outstanding tasks, items, and everything else closely related to the close.
- Streamline the reconciliation processes and improve financial integrity by applying rules-based processes to automate reconciliations, and using digital workflows to route preparation, approval, and review tasks.
- Speed up bank reconciliations by using automated GL and bank data extracts. Then, match and reconcile transactions automatically using intelligent rules
