BlackLine reveals latest financial automation solution

BlackLine has revealed its latest solution, SAP Account Substantiation and Automation by BlackLine, financial review option, to be sold as an SAP Solution Extension.

The new solution aims to enhance the capabilities of the Office of the CFO by enabling proactive entity and group-level analysis of financial statement line items and variances. This will provide users with effective commentary functionality, coupled with end-to-end transparency and traceability.

The Los Angeles-based financial automation company is a long-standing partner of SAP and has been chosen specifically to complement SAP's record-to-report solutions.

"With our newest product, we offer customers a fully integrated, end-to-end solution for their critical finance and accounting processes," co-CEO of BlackLine Owen Ryan said.

The new extension is the latest in a series of BlackLine products sold directly by SAP, aimed at bolstering transparency, efficiency, and control within financial operations.

The solution is designed to streamline the accounting processes by incorporating advanced reconciliation automation and certification, statutory-to-GAAP comparisons, and tolerance-based variance analysis.

Among its key features are the facilitation of comprehensive validation of entity and group-level financials, complete with drill-down transparency to underlying data, and a centralised workspace for review, fluctuation explanations, and associated approvals, applicable across all ERPs, both SAP and non-SAP systems.

"By offering BlackLine's cloud-based solutions as SAP Solution Extensions, we are enabling our global customers to adopt and experience risk reduction, greater efficiency, real-time reporting, and improved transparency," Chief Accounting Officer at SAP SE Dr. Christopher Sessar added.

The new solution, SAP Account Substantiation and Automation by BlackLine, financial review option, is sold and supported by SAP. It aims to help customers execute variance analysis faster, eliminate wasted time, and foster better collaboration and control across the Office of the CFO by replacing error-prone manual processes with a continuous proactive approach.

More than 1,300 of the world's leading companies currently run BlackLine in conjunction with SAP financial management products. BlackLine's offerings are optimised for the modern enterprise and support integration with over 30 different ERP and source systems. This proves to be an added benefit for businesses utilising SAP solutions across multiple ERPs.

BlackLine's market-leading cloud platform is aimed at helping companies move towards modern accounting by unifying data and processes, automating repetitive tasks, and driving accountability through visibility.

The company provides an array of solutions to manage and automate financial close, intercompany accounting, invoice-to-cash, and consolidation processes.

So far, over 4,000 customers trust BlackLine to assist them in closing financial operations faster with complete and accurate results.