Clearsulting’s mission is to deliver comprehensive, hands-on, and innovative solutions for current business problems. Our “rolled-up sleeves” approach, in conjunction with Blackline’s commitment to transforming financial processes, delivers breakthrough results for your organization.
At InTheBlack, we provided an overview of a solution that is changing the way firms shape their control environments. This is an opportunity to shift your compliance mindset from stagnant to dynamic. To stop settling for meeting requirements, and instead, optimize your audit processes with automation and integrate a one-stop-shop for everything Risk and Controls (R&C).
In our extensive consultative experience, we have seen countless companies waste time and resources on inefficient compliance procedures. By establishing a central, standardized, efficient R&C infrastructure, you allow your Compliance and Internal Audit teams to focus their attention on areas that were once unreachable, thus delivering real value to your business.
Blackline Compliance is much more than a compliance tool. It’s a solution that allows for total optimization of the Risk and Control function of an organization.
Here are three ways Compliance can create value for your organization.
Increased Visibility Into Your R&C Environment
Compliance provides instant big picture insight into your firm’s current R&C environment. Your teams can easily check the linkages between your risks and controls to identify areas that are over or under-controlled.
This functionality encourages better utilization of time and resources, as well as more effective risk mitigation. When the audit period arrives, follow your testing and audit progress in real time as controls are tested and certified.
When visualizations are necessary, use the Compliance solution’s built-in reportability features to view snapshots of your current control environment. Or, take it a step further and utilize Blackline’s Reporting tool to create highly valuable, customizable reports to fit your needs.
Everything in your audit environment becomes readily accessible and easy to track throughout every stage of the audit cycle.
Central Cloud Repository for R&C Processes & Documents (SOX 302 & 404)
Sick of navigating across systems, shared drives, and products to find what you need? Store and organize all your controls, risks, issues, and documentation in a single cloud location.
Blackline Compliance stores and links important R&C documents together to enable faster navigation and quicker insight. When terminology or processes change, the solution can be easily updated to maintain version control and keep records current.
Furthermore, you can manage who has access and the ability to make changes within the tool to ensure proper maintenance, security, and segregation of duties. When changes are made, use the built-in audit trail to ensure all changes are tracked and recorded for audit purposes. Stop wasting time searching for documentation and stressing over version control; allow Compliance to keep you collected and organized.
Integrate With Other BlackLine Solutions
Already using Blackline? Compliance encourages integration with other solutions, such as Account Reconciliations, Task Management, Journal Entry, Variance, and Transaction Matching. This gives you direct access to evidence produced without requiring subsequent requests.
The creation of regularly scheduled tasks standardizes evidence procurement and allows samples to be selected with ease at little to no extra effort on the business side. This, in turn, reduces the hassle of communication overload during audit periods, as auditors can grab the evidence they need with limited back and forth with the business. As with any system, Blackline creates maximum bandwidth when its tools are integrated and working together.
Don’t just comply. Elevate your Risk and Control environment with BlackLine Compliance and allow the Clearsulting team to clear the way.
Read this ebook to learn more about the latest technology around compliance, best practices to upgrade compliance processes, and a game plan for implementation success.
The post Elevate Your Risk & Controls Environment With Compliance appeared first on BlackLine Magazine.