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BlackLine Systems and global chemical giant Albemarle Corporation discuss the common challenges shared service centers face around the financial close and how technology can help companies ensure integrity of the balance sheet and financial reports.
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CREATE AUTOMATED WORKFLOW & ACHIEVE
BALANCE SHEET INTEGRITY
• BlackLine Systems Overview
• Discuss common challenges shared service centers face around the close and how technology can help companies ensure integrity of the balance sheet and financial reports
• Albemarle Case Study
AGENDA
2
BLACKLINE SYSTEMS OVERVIEW
Susan ParcellsDirector, Finance Transformation & Product ExpertBlackLine Systems
Follow along via Twitter Handle:@SusanParcells
ABOUT BLACKLINE
• Global headquarters in Los Angeles with regional main offices in London and Sydney
• 800+ clients (many in the Fortune 500/Global 1000) and over 85,000 users worldwide
• First to market and offer software to automate the entire financial close process
• BlackLine Certified Implementation Professionals all around the world
• First account reconciliation provider with a SOC1 (SSAE 16), SOC II, & SOC III independent audits & ISO 27001 certification
• The BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution and is the only financial close solution to achieve this
• Solutions endorsed by SAP are complementary to SAP software offerings, have been specifically integrated with SAP solutions and tested by SAP
• BlackLine’s SAP Connector seamlessly integrates BlackLine to SAP Financials
• The BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution and is the only financial close solution to achieve this
• Solutions endorsed by SAP are complementary to SAP software offerings, have been specifically integrated with SAP solutions and tested by SAP
• BlackLine’s SAP Connector seamlessly integrates BlackLine to SAP Financials
SAP PARTNERSHIP
• REAL-TIME MONITORING AND REPORTING• CONTROLLED PROCESS• DATA INTEGRITY & INTEGRATION• SIMPLE, SECURE SaaS SOLUTION
BLACKLINE FINANCIAL CLOSE SUITE
SHARED SERVICE CENTERS – A QUEST FOR CONTINUED SUCCESS
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PROCESS EXCELLENCESERVICE EXCELLENCECONTINUOUS IMPROVEMENTNEW TECHNOLOGIES
Shared Service Centers A Quest For Continued Success
HOW TECHNOLOGY CAN HELP SHARED SERVICE CENTERS OVERCOME THESE CHALLENGES
BLACKLINE PROCESS
HOW FINANCIAL CLOSE SOFTWARE CAN HELP SHARED SERVICE CENTERS
– Standardized policies, procedures and systems• Standard reconciliation templates• Ability to associate respective policy and
procedure to each reconciliation or task
– Transparency • Real time dashboards and reporting on status of
reconciliations, close tasks and journals• Proactive email alerts
– Clear ownership over activities• Workflow - All account reconciliations are assigned
a preparer and approver (2nd level reviewer is also available)
• Certification audit trail
– Standardized policies, procedures and systems
• Standard reconciliation templates
• Ability to associate respective policy and procedure to each reconciliation or task
– Transparency
• Real time dashboards and reporting on status of reconciliations, close tasks and journals
• Proactive email alerts
– Clear ownership over activities
• Workflow - All account reconciliations are assigned a preparer and approver (2nd level reviewer is also available)
• Certification audit trail
PROCESS EXCELLENCE
PROCESS EXCELLENCE
SERVICE EXCELLENCE
SERVICE EXCELLENCE
HOW FINANCIAL CLOSE SOFTWARE CAN HELP SHARED SERVICE CENTERS
– Visible metrics/KPI’s• Dashboards, reports, alerts• Access available to service center and
management– Timely feedback on performance
• Various reviewer type roles available• Evaluations
– Easy to set up and manage• Flexible• Configurable
– Easy to use• Intuitive• Training available 24/7
– Visible metrics/KPI’s
• Dashboards, reports, alerts
• Access available to service center and management
– Timely feedback on performance
• Various reviewer type roles available
• Evaluations
– Easy to set up and manage
• Flexible
• Configurable
– Easy to use
• Intuitive
• Training available 24/7
CONTINUOUS IMPROVEMENT
CONTINUOUS IMPROVEMENT
NEW TECHNOLOGIES
NEW TECHNOLOGIES
ADDITIONAL BENEFITS
• BlackLine can be used for entire balance sheet (pre-paids, accruals, bank, sub-ledger, debt, equity, etc.)
• Auto-certification of low risk reconciliations
• Templates-based process for standardization and quality
• Supporting documents – can be saved/accessed from within the system
• Approval workflow – multiple levels with flexible scheduling
• Automated e-mail alerts for proactive notification/monitoring
• Reporting for real-time status updates
• Centralized, global access – anywhere, anytime
• Multi-currency AND multi-language (available in 15 languages!)
• Easy integration with existing ERP, GL systems
• BlackLine can be used for entire balance sheet (pre-paids, accruals, bank, sub-ledger, debt, equity, etc.)
• Auto-certification of low risk reconciliations
• Templates-based process for standardization and quality
• Supporting documents – can be saved/accessed from within the system
• Approval workflow – multiple levels with flexible scheduling
• Automated e-mail alerts for proactive notification/monitoring
• Reporting for real-time status updates
• Centralized, global access – anywhere, anytime
• Multi-currency AND multi-language (available in 15 languages!)
• Easy integration with existing ERP, GL systems
Albemarle Case Study
Andrea Balázsi-Vörös Accounting Team LeadAlbemarle
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Albemarle & BlackLine
Budapest, July 2014
Andrea Balázsi-Vörös, Accounting Team Lead
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Agenda -------------------------------------------------------------------------------------------------------------------
• Albemarle Overview• Before BlackLine• Why BlackLine?• Where we are now?• BlackLine in numbers• Benefits / ROI• Plans for the future
Agenda
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• 2013 Revenue $2.6 billion
• Leading specialty chemical company– Catalyst solutions– Performance chemicals
• Over 4,100 employees globally
• Serves customers in over 100 countries around the World
• Accounting operations– Americas (Baton Rouge, Louisiana, USA)– Europe (Budapest, Hungary)– Asia (Dalian, China)
Albemarle Overview
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Before BlackLine
---------------------------------------------------------------------------------------------
• No streamlined process for account recons• No appropiate ownership of accounts• No standardization of processes• Recons performed manually • Journal entries and supporting
documents printed on papers• Files stored locally• Time consuming approval process /
audit• Hard to control• Lack of confidence in recons /
approvals done completely
Before BlackLine
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Why BlackLine?
---------------------------------------------------------------------------------------------
• Flexibility to import open items and journalsdirectly from SAP
• Different modules (Account recons, Journalsand Tasks) at the same place
• Different roles settings• Automatic e-mail notifications (Alerts)• Possibility of group accounts / auto-certifications• Better policy compliance management• Ability to access site anywhere (with internet access)• Online trainings• Userfriendly system
Why BlackLine?
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Where we are now?
---------------------------------------------------------------------------------------------
• BlackLine Accounts module implemented in Q4 2010– Gradual induction– All accounts imported by Q2 2011
• BlackLine Journals module implemented in Q4 2011– Workflow approval electronically– Supporting documentation in one central place
• BlackLine TaskS module implemented in Q2 2013– closing and non closing tasks for RTR (Finance) and PTP
Where we are now?
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BlackLine in numbers
---------------------------------------------------------------------------------------------
• ~4,700 accounts• 250 groups
• Over 100 users
• Average 1500 JEs / month
• Over 500 tasks
BlackLine in numbers
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Benefits / ROI
---------------------------------------------------------------------------------------------
• Better quality• More consistent data in less time• Global visibility on account recons• Central repository for recons and journal entries• Much simpler and efficient review• Save an enormous amount of time
– Directly– Indirectly
• Aid in comliance with SOX• Supplying documentation to the auditors
much simpler
Benefits / ROI
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Plans for the future
---------------------------------------------------------------------------------------------
• Implement custom frequencies foraccount recons
• Standard account descriptions and recon procedures accross the globe
• Roll out the Tasks module globally
• Implementation of additional BlackLine modules– Variance module
Future plans
25
Questions?
Any questions?
26