Dominick di Paolo, Blackline Systems - Closing with Confidence

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Presentation from the 14th Annual North American Shared Services & Outsourcing Week, 2010 …

Presentation from the 14th Annual North American Shared Services & Outsourcing Week, 2010

To find out more about the 2011 event go to:
www.sharedservicesweek.com

More in: Business
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  • 1. Closing with Confidence
  • 2. What does that mean? • Everything that was supposed to be done IS done (and verified.) Close calendar task lists, manual journals, etc. • The numbers are right. Key accounts are reconciled (accurately.) • Anything that changes at the last minute, you know about. • Supporting documentation and audit trails are easily accessible.
  • 3. It can’t be done with Spreadsheets! “The human aspect of data collection should not be underestimated. Manual tasks for financial close consume large amounts of time and incur many errors.”
  • 4. Technology Can Provide Confidence • Can provide functionality that automates data collection from multiple systems • Alerts when changes are made in underlying systems • Provides full visibility with real-time dashboards and reports of status and adjustments • Links to policies and procedures • Attachment of documents and audit trails
  • 5. Technology Can Provide Confidence “Properly implemented, the right technology can facilitate communication, especially from shared service centers to the business units.”
  • 6. Technology Alone Won’t! • BlackLine is a great “tool” • A tool can provide tremendous value if utilized properly. • Need management support within the company • Potentially need outside experts for finance transformation
  • 7. The Triangle of Success Management Support for Change Finance The “Right” Transformation Technology Expertise
  • 8. Today’s Panel Rick Arpin Therese Tucker Senior Vice President CEO & Founder, Corporate Controller BlackLine Systems MGM Mirage Philip Boken, Director, Finance Process Optimization Protiviti
  • 9. BlackLine’s Application: • Specific to optimizing financial close processes – Account Reconciliations – Transaction Matching – Task Management – Manual Journals – Variance Analysis – Consolidation System tie-outs • Browser-based, subscription (SaaS) model