EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Operational Close Management
Many organizations still manage financial closure by hand, but smart technology can improve efficiencies and unlock new value.
Your business challenge
- When businesses manage financial close manually, they leave themselves open to error, delays and potential risk.
- Organizations have thousands of daily data points across departments and vendors.
Solution benefits
- Using new tools to automate, standardize and accelerate routine processes can help your team focus on high priority tasks.
- By integrating data sources for better visibility it’s possible to create insights that optimize workflows, improve daily processes and ensure accuracy of critical reporting.
Solution features and functionality
- Automation
- Centralization
- Integration
- Streamlined audit process
- Insight generation
Automate repetitive tasks like journal entries and reconciliation, reducing errors and saving time.
Many organizations still rely on manual processes and documentation like Excel sheets as part of their ongoing accounting processes. It's a practice that can lead to human error, inconsistencies and inaccuracies for financial reporting, significantly draining labor and accelerate risk at a critical time for the financial function.
Centralize all financial close data enhancing control and visibility over the entire process.
By streamlining and centralizing the data flow into one manageable source with OCM and employing data analytics to monitor transactions, it's possible to gain comprehensive visibility into the full financial picture of your business.
Integrate all data sources, creating agility and adaptability to changing business environments.
By employing OCM, companies can quickly and seamlessly integrate a wide variety of data sources, making your whole operational and financial processes far more agile and your organization more able to react to quickly changing market conditions.
Streamline the audit process with one unified source for all requests and data needs.
There are many moving parts to the average audit process that can add inefficiencies, layers of complication and create delays. From every request and requirement for documentation, OCM enables rapid delivery and easy access for every data need in one streamlined source.
Generate intelligent insights and identify KPIs for enhanced workflows and reporting.
Streamlined data practices, enhanced data operations and visibility over every process all add up to one thing: the ability to generate intelligent insights. Use OCM to determine KPIs, measure performance against them and create organization-wide, optimized workflows — from your daily accounting process to critical reporting.
Why EY
Combining BlackLine’s custom suite of financial closure products with a proven EY approach to business transformation, OCM can help make a direct impact on your bottom line and business future starting today.
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Begin your OCM journey today.