Cloud-based, record-to-report technologies (CRRT) can help finance departments automate financial processes, manage the financial close, and apply controls throughout the accounting cycle. By aligning BlackLine’s agile CRRT solutions with business strategy and better practices, KPMG empowers finance and accounting teams to deliver real-time financial intelligence to executives and strategic value to the enterprise.
Meeting demands for faster, more accurate information
C-level executives demand accurate and immediate insight into their company’s financial performance. Regulatory bodies and analysts expect enterprises to review their account books in less than a week and release earnings statements within a month. The pressure on finance and accounting leaders to deliver accurate, immediate information is enormous. Yet many wrestle with decades-old accounting processes that can only provide a view into the past—where the organization was, not where it is now.
Record-to-report processes are at the heart of these financial operations, providing necessary insights into a company’s strategic, operational, and financial performance and enabling companies to report their performance. Yet market forces— including the globalization of customers and markets, complex business relationships between internal entities, shareholder demands for transparency and auditability, and increased governmental regulation and oversight—make executing record-to-report processes more challenging than ever before.
Companies able to automate the record-to-report processes are better prepared to meet these market challenges Seeking improved financial close capabilities, enhanced cost control, greater application flexibility, and shorter time to value, finance and accounting leaders are moving away from manual, on-premise systems to automated cloud solutions. CRRT solutions are typically easier to use and manage than ERP-based close systems. They also deliver all the benefits of the cloud: a subscription-based pricing model, unlimited elasticity, automatic upgrades, and remote software management.
KPMG: aligning strategy and process with technology
The Finance of the Future not only requires an efficeint process and the right people, but also the right alignment of automation and technologies. KPMG helps clients improve the record-to-report process by enhancing your ERP functionality with CRRT process automation that can provide real-time visibility, simplifying workflow, and reduction in the time required to close the books. In addition to broad thought leadership in comprehensive finance transformation, KPMG has deep experience with intelligent automation technologies and can help your company standardize on best practices, business processes, and governance that incorporates CRRT capabilities into your digitally enabled Finance of the Future.
KPMG’s seasoned finance professionals bring tested tools, technologies, and methodologies that:
With global experience in financial close process improvement and redesign, KPMG can help your company improve its efficiency, effectiveness, and control during the record-to-report process.
BlackLine: automating workflows and streamlining the close
Designed entirely in the cloud, BlackLine’s comprehensive finance controls and automation platform is a unified technology solution built specifically for accounting and finance. Trusted by more than 1,800 customers, the BlackLine platform was positioned in Gartner’s Leaders Quadrant for Cloud Financial Corporate Performance Management solutions in 2018.
BlackLine’s platform offers control over the financial close and reconciliation process by streamlining accounting workflows and ensuring accuracy and compliance auditability. The suite of integrated applications supports account reconciliation, journal entry, task management, consolidation integrity management, intercompany management, transaction matching, and variance analysis. The platform also integrates with more than 40 ERP systems, including an SAP- embedded solution. The company provides live global support in multiple languages as well as extensive online training. With its cloud-native solution, BlackLine is uniquely able to meet the needs of organizations that seek to innovate and optimize their record-to-report process.
A clear path to a streamlined, effective record-to-report solution
KPMG’s alliance with BlackLine delivers innovative and streamlined record to-report capabilities to joint clients. KPMG employs a distributed network of finance and accounting professionals as well as more than 70 BlackLine certified consultants with extensive knowledge of module capabilities and functionality. These professionals support your requirements by:
KPMG’s BlackLine implementations require minimal support from your company’s internal IT organization and can be implemented within months. Most projects incur a cash payback within one year of implementing the solution. With KPMG and BlackLine, your company gains real-time visibility into the status and accuracy of your close, streamlined workflow and task management, and reduced burden on resources.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities. Any trademarks or service marks herein are the property of their respective owners.