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Period-End Closing
with Blackline

What we offer?

We help companies move to Modern Accounting in the area of Period-End Closing by standardizing processes and data, automating repetitive work and increasing transparency in real time throughout the entire "record to report" process.

Before

Traditional Month-End Closing

  • Task checklists in Excel
  • Manual reconciliations in Excel
  • Manual journal postings
  • Manual transaction matching
  • Verification of many unnecessary details

After

Modern Accounting

  • Focus on data analysis
  • Cooperation with business
  • Searching for deviations
  • Risk reduction
  • Digital transformation
We use the Blackline platform, trusted by over 3,700 clients and recognized by the Gartner analytical center as a global leader in Period-End Closing Cloud solutions.

Who needs us?

Our clients turn to us when their traditional manual month-end accounting processes:

  • are no longer sustainable for them as they are inconsistent, fragmented and lack effective internal controls.
  • take too much time, what does not allow enough to ensure the required quality, including completeness and accuracy of data.
  • are based mainly on Excel files, which leads to lack of transparency, numerous errors and lack of certainty that the prepared financial reports are free from significant errors.
  • they cost too much, and designing and introducing changes, preparing for an audit or increasing the scale of activities requires an unacceptable increase in employee involvement.
  • lead to lowering the morale and increasing the turnover of employees of financial departments because they spend a large part of their time performing boring and repetitive tasks that could easily be automated.

Benefits What benefits will we
bring to your company?

The key benefit of working with us will be a unified and automated modern "record to report" process that ensures full consistency, completeness, transparency, smooth cooperation of all people involved, and full control over data and month-end closing process in your company. Translating this into concrete benefits, they will be:

  • Reducing the time needed to complete all tasks within the month-end closing process without compromising on quality by simplifying, unifying, automating and speeding up work.

  • Achieved through standardization of processes, more balanced workloads and automation of high-volume, repetitive tasks.

  • Ensuring the correctness of financial statements and significant reduction of the risk of non-compliance with regulations resulting from standardized and automated processes and internal controls allowing to justify the balances of all accounts with relevant entries from source systems, transaction statements, supporting documentation, comments and workflow approvals.

  • Real-time access to the status of work during month-end closing, emerging variances, trends and results of accounting operations that require verification.

  • Constant monitoring and measurement of virtually all activities carried out during the Month-End Closing process allows for the identification and implementation of further gradual improvements, which in turn will lead to an improvement in the cost structure of the finance function.

  • A centralized repository of data and documents and dedicated access for an internal or external auditor significantly reduces the time and effort needed to collect and share lists of completed activities, tasks, checklists, certifications, supporting documents and comments.

  • Thanks to the integration of source systems, standardization of processes and the creation of a “single source of truth”, employees can focus on strategic issues that are most relevant in terms of risk, materiality and timeliness in accordance with the company’s needs.

Why we?

We are convinced that EXEVERA significantly and positively stands out from the others by:

01/

Expert knowledge

We are not ordinary technology consultants. We have experience as auditors of financial statements and internal control systems according to the SoX requirements, gathered in so-called The Big Four Companies. We designed and built risk management and internal audit systems in large public companies from scratch. On a daily basis, we perform the functions of financial controllers in large capital groups and we have a number of qualifications, including a statutory auditor, ACCA, CIA. We come as experts and calmly, sensitively solve problems and share knowledge.
02/

Flexibility

The solution we built will be intuitive and easy to configure, maintain and develop by accounting employees in order to quickly adapt to the changing needs of the company.
03/

Proven results

The average payback time is 9 months, and according to Blackline's internal data, the customer retention rate is 98%.
04/

Focus on Customers

Our Customers are never left alone. They have EXEVERA consultants at their disposal on a daily basis, but also the global Blackline support department available 24/7/365, as well as a dedicated online training platform for users, so that they can get as much and as quickly as possible.
05/

Integration with external systems

In the area of Month-End Closing, the Blackline platform was selected by SAP as a component complementing its ecosystem of solutions. At the same time, Blackline can connect to virtually any system containing data via native connectors or API services.
06/

Recognition

The Blackline platform has been recognized by Gartner as a leader in the area of Month-End Closing solutions in the cloud for several years in a row.
07/

Confidence

The Blackline platform is available at all times (99.99%), except for scheduled maintenance breaks. In addition, all data both in the database and transmitted over the network are encrypted and secured. Safety is confirmed by certificates of compliance with ISO27001, SSAE18, SOC1, SOC2, SOC3, ISAE3402.
08/

Simplicity

Everything necessary will be in one place, including one reporting environment, one user interface, one data security model, one system update path

How will the Month-End Close with Blackline work?

Depending on the function performed in the organization, the employee will receive dedicated tools at Blackline that will allow her or him to perform their tasks effectively.

Financial Controller / General Ledger Specialist

  • 01/

    The calendar of planned tasks will impose their execution continuously throughout the month, not only at its end, which will avoid delays.

  • 02/

    Rule-based mechanisms will automatically reconcile and self-certify up to 85% of all accounts, which will save you a lot of time.

  • 03/

    Dedicated connectors for ERP and other systems will automatically download data and then import it to Blackline to perform month-end tasks, such as account reconciliations or transaction matching.

  • 04/

    Defined policies, procedures and a user rights matrix (Segregation of Duties) ensure consistency, transparency and full control over the process.

  • 05/

    The central data repository systematically collects documentation supporting the reconciliations, approvals, journal postings, variances and other tasks, which allows to create a single ‘source of truth’ for everyone.

  • 06/

    Automated mechanisms automatically find significant variances, which are forwarded to the appropriate controller for verification and appropriate action.

  • 07/

    Defining the work schedule and assigning tasks to individual people allows for proper and true cooperation.

  • 08/

    Centralized management of tasks and links between them allows for full transparency regarding the status of work and reducing the waiting time for the completion of a given task.

  • 09/

    Recurring postings at the end of the period are prepared, approved and sent to the ERP system in an automated manner based on account reconciliations, transaction matching results or other data sources.

  • 10/

    Recurring postings at the end of the period are prepared, approved and sent to the ERP system in an automated manner based on account reconciliations, transaction matching results or other data sources.

As a result, the financial controller focuses less on individual transactions and more on analyzing the results obtained and possible material discrepancies. As a result, she or he becomes a real business partner.

Business leader

  • 01/

    Dedicated dashboards allow you to identify trends on an ongoing basis, solve emerging problems and focus on business priorities.

  • 02/

    The transparency of the closing process is ensured by reports that allow you to track the status of tasks assigned to individual people and the timeliness of their implementation. This allows you to identify potential bottlenecks and take appropriate action.

  • 03/

    Automated mechanisms allow you to save a lot of time and focus on those tasks that are of the greatest importance to the business as well as to ensure the accuracy and timeliness of reporting and efficient function of the finance function in your company.

  • 04/

    Data is available in real time, which allows you to make decisions based on facts, not only intuition and fragmentary information.

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