Following the pandemic, finance and accounting will become the catalysts of data-driven business transformation
LONDON, March 29, 2021 /PRNewswire/ -- In an article published on Business Reporter, Marc Huffman, CEO of accounting automation software provider BlackLine, explains why agility and access to data is a critical part of business success. Financial data lies at the very heart of business decision making. Access to complete and accurate financial data is essential for any business that wishes to survive and thrive in a time of crisis such as the pandemic.
In the article Marc Huffman describes how accounting functions are coming under increased pressure from their Boards and C-suite to provide accurate, comprehensive and real-time insight into business performance. Driven by the realisation that a crisis like Covid-19 can place unanticipated burdens on organisations, Boards wish to enhance their ability to use real-time financial data as part of ongoing scenario planning.
However, the continued reliance on clunky spreadsheets has eroded the credibility of organisations' financial data in the eyes of top management. Outdated processes that mean current data is only available at the end of each monthly accounting cycle open organisations up to additional risks at a time of rapid and unpredictable change. But with the right technology in place, these risks can be minimised or avoided.
Companies come to BlackLine because their traditional manual accounting processes are not sustainable. BlackLine's cloud-based solutions help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility.
To learn more about the benefits of automating finance and accounting processes, read the article.
To read about how the global pandemic is reshaping roles and building resilience in finance, visit: blackline.com/covid-F&A-survey
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SOURCE Business Reporter