Unlock Your Financial Close Maturity. Get insights and personalized recommendations based on your organization's BlackLine usage.
On a scale of 1 to 7, please rate the overall maturity of your organization's financial close process where:
1 (Lagging): Undefined digital transformation, manual processes, unclear roles across multiple sites.
2-3 (Developing): Some system integration and new technology; detailed, yet not optimized processes; partially aligned goals with technology support
4-5 (Intermediate): Defined but not optimized processes; technology-enabled procedures without full integration; manual coordination needed
6-7 (Leading): Fully integrated systems, real-time data; efficient, well-documented processes with clear accountability; continuous improvement culture with upskilled teams
On a scale of 1 to 7, please rate the maturity of your organization's account reconciliation process, where higher numbers indicate:
Consistency through standardized templates
Automation of data integration without user intervention
Efficiency and Effectiveness via role-based security and automated workflows
Transparency with real-time dashboards and status reporting
Risk-Based prioritization and treatment based on predefined risk profiles
Auditability with centralized reconciliations, attached documentation, and direct auditor access
On a scale of 1 to 7, please rate the maturity of your organization's manual journal entry (JE) process, where higher numbers indicate:
Centralization of routine and recurring entries owned by a shared service center
Automation of recurring entries such as accruals, prepaids or interest expense
Unified repository of all Manual JE details including supporting documentation
Systematically enforced threshold & workflows per company policy
Integration of JE templates with ERP systems for real-time validation and posting
Monitoring of anomalies and trends for Manual JEs enabling for risk detection
On a scale of 1 to 7, please rate the maturity of your organization's transaction matching process, where higher numbers indicate:
Automated matching of high-volume accounts (e.g., GR/IR, bank, suspense)
Auditability of reconciling open items mapped to reconciliations automatically
Materiality-driven matching with standardized rules and thresholds
Integration of near real-time data feeds from ERP, banking, and financial systems for continuous close activities
Open Items Clearing using automated tools
Monitoring dashboards displaying metrics like match rates, unmatched transactions, and resolution times
On a scale of 1 to 7, please rate the maturity of your organization's intercompany process, where higher numbers indicate:
Automated Transaction Creation with real-time recording across entities
Efficient Balance and Resolution through automated discrepancy identification and workflows
Optimized Netting and Settlement through automation and integrations
Integrated Systems providing seamless data flow and real-time visibility
Centralized Management by a dedicated team ensuring standardized practices
Enhanced Governance and Accountability with robust policies, approval workflows, and monitored KPIs
On a scale of 1 to 7, please rate the maturity of your organization's variance analysis process, where higher numbers indicate:
Centralized historical analyses and support saved in a cloud-based system
Seamless Integration of variances into balance sheet reconciliations
Automated variance rules with standard thresholds, eliminating manual processes
Reduced Preparation Time by focusing only on high-risk fluctuations
Approval Workflow with real-time monitoring for accountability and adherence to deadlines
Automation of variance commentary using AI (natural language generation)
On a scale of 1 to 7, please rate the maturity of your organization's month-end close checklist process, where higher numbers indicate:
Task management systems is aligned with standardized close calendars
Centralized solution for all close activities
Reportable real-time dashboards displaying close activity status and facilitating KPI measurement
Defined processes and procedures documented and readily accessible within the task management system
Standardized close processes across all business units and geographies
Automated triggering of close activities through a network of dependencies
If you do not use Blackline, please select N/A by moving the slider to the far left. On a scale of 1 to 7, please rate the maturity of your organization's BlackLine Administration process, where higher numbers indicate:
Continuous process enhancements and automation with a dedicated BlackLine Center of Excellence (COE)
Monitoring and Reporting through near real-time interface status checks
Master Data Management and validation checks for master data to minimize discrepancies
Training and User Support providing effective onboarding and ongoing education for all users
Compliance and Security ensuring system configurations and workflows adhere to regulatory requirements and policies
Your Survey is Submitted! Thank you for helping us gauge your financial close maturity.
What's Next?
Our Clearsulting consultants are here to support you with personalized advice. We will send you a follow up email, please feel free discuss your results with us or schedule a follow-up meeting.
A BlackLine Tips by Module Document will be sent to the email address provided. This document will offer recommendations for improvement within each module. Below is an assessment report to consider as well!
Empowering Your Organization to Achieve Leading Financial Close Practices
Introduction
Understanding your organization's financial close maturity is essential. This report provides a sampling of key techniques to help you reach leading practices across various financial close processes, offering manageable insights for immediate action.
You're score was:
Key Improvement Areas:
Standardize Processes: Harmonize procedures across all departments and locations.
Implement Advanced Financial and Data Management Systems: Adopt integrated ERP solutions with a unified master data management strategy.
Invest in Training: Upskill your finance team with the latest tools and leading process methodologies.
You're score was:
Key Improvement Areas:
Risk Ranking & Materiality Thresholds: Apply policies systematically to prioritize high-risk accounts.
Automation via Subledgers: Integrate subledger data to eliminate manual substantiation.
Standardization with Templates: Use consistent reconciliation templates and methodologies across the organization.
You're score was:
Key Improvement Areas:
Automate Recurring Entries: Use a system to automate recurring JEs such as accruals and prepaids.
Materiality-Based Workflow: Implement system-driven approvals based on materiality thresholds.
Centralize JE Processes: Centralize JE responsibilities to a specialized team and system for efficiency.
You're score was:
Key Improvement Areas:
Automated Matching: Reconcile high-volume accounts like Cash and GR/IR efficiently using software.
Set Materiality Thresholds: Prioritize significant transactions within defined thresholds.
Integrate Data Sources: Ensure automatic data feeds from relevant systems into your matching tool.
You're score was:
Key Improvement Areas:
Automate Transaction Creation: Enable real-time recording of invoices across trading partners in a central Intercompany sub-ledger.
Efficient Balance & Resolution: Automate transactional level matching between trading partner and resolving any out of balances.
Optimize Netting & Settlement: Automatically calculating net positions between trading partners and initiating settlement types based on intercompany agreements.
You're score was:
Key Improvement Areas:
Automated Variance Calculation Based on Threshold: Set up a centralized system to automate calculation of variances based on thresholds.
Centralized Historical Data: Use cloud-based storage for easy access to analyses.
Explore AI Tools: Utilize AI for generating preliminary variance explanations.
You're score was:
Key Focus Areas:
Aligned Task Management: Synchronize tasks with the close calendar.
Real-Time Dashboards: Gain immediate visibility into close progress and KPIs.
Automate Dependencies: Configure systems to trigger tasks based on workflows and dependencies.
You're score was:
Key Focus Areas:
Establish a BlackLine COE: Focus on continuous improvement with a dedicated team.
Near Real-Time Monitoring: Implement alerts for system and integration issues.
Enhance User Support: Provide comprehensive training and resources for all users.
Note: This is just a sampling of key areas to help you focus on immediate, impactful improvements.
Achieving leading practices in your financial close processes is a continuous journey. By concentrating on these key areas, your organization can enhance efficiency, reduce risks, and improve financial performance.
Schedule a Consultation: Dive deeper into your specific challenges.
Access Additional Resources: Request industry-relevant case studies and whitepapers.
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