The rapid pace of change brought on by the current market dynamics has put a spotlight on the communication of business information. Many financial leaders are hampered by an inability to gather and disseminate that business-critical information to the necessary stakeholders at the necessary speed to cope with the rapidly changing business environment. This has greatly impacted their ability to effectively manage and make data-driven decisions. Financial processes like the financial close have long been areas where effective communication is both very difficult and highly important. In a remote working environment, effective communication became even more crucial to the business. Yet communication is only part of the equation. Completeness, accuracy, and efficiency in the financial close process remain critically important. Going forward, we expect even greater demand for financial applications that connect finance and accounting processes, standardize critical financial operational workflows, and increase automation.
IDC: The Business Value of SAP Account Substantiation and Automation by BlackLine
