Every organization needs to be able to close the books accurately and on time, but the ERP systems used to run and automate the operational side of the business fall short when it comes to account reconciliation. SMBs with ambitions to scale and grow need to be able to shake off the cumbersome manual burden of the month-end close.
Finance and accounting leaders are increasingly being called to do more and serve as strategic advisors to the business. As the scope of their role continues to evolve, accounting teams often struggle with capacity issues as their required compliance, controls, and other record-to-report work leaves little to no time to meet the demands of their expanding roles.
Doing work the way it’s always been done is not sustainable. Modern accounting is meant to change this by automating traditionally manual, repetitive tasks and by enabling modern accounting. Modern accounting means providing complete and accurate results in real time, without the chaos of traditional manual close processes.
Just as ERPs have expanded from the enterprise to the SMB, BlackLine is able to bring the benefits of the automated close enjoyed by larger organizations to the mid-market in the shape of the Modern Accounting Playbook (MAP). Building on the experiences of thousands of customers, MAP delivers an expertly-curated playbook for your organization’s finance transformation journey, supporting both existing financial requirements and future growth as the business scales.
The foundation of MAP is Core, or the essentials for a streamlined and automated close. Core delivers visibility into close tasks, best practice templates for account reconciliations, and pre-set rules for bank transaction matching.
ITG with Blackline aims to streamline and automate your financial close, integrating with your disparate financial systems every step of the way. Blackline provides matching, reconciliation, and auto-certification using configurable business rules, process and workflow management for reconciliations organized around accounts and transactions, and further individual close optimizations such as intercompany reconciliation, open items clearing, close management, and variance analysis.