2012 Innovation Awards Nomination:
BlackLine Systems Financial Close Software Suite v6.1
BlackLine Systems’ suite of financial software applications automates the entire financial close process.
Spreadsheets can be full of hidden, costly mistakes. The BlackLine Financial Close Software Suite v6.1 automates and virtually eliminates time-consuming, traditionally manual, spreadsheet-driven accounting processes. The BlackLine suite includes modules for Balance Sheet Account Reconciliations, Task Management, Journal Entry, Transaction Matching, Variance Analysis and Consolidation Integrity Manager.
BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems. BlackLine offers clients its software in a simple and secure OnDemand/SaaS platform.
Leading global accounting and consulting firms Ernst & Young, KPMG and Deloitte are among a growing list of firms with representatives who are now BlackLine Certified Implementation Professionals, having completed a rigorous training course offered by the company.
Internal and external auditors alike LOVE BlackLine because they can access the system and view reports from anywhere, anytime. No more tracking down documents from storage warehouses. No more paper binders. And, best of all, no more headaches!
Whether a company handles its close activity internally or enlists the help of an outside CPA firm, BlackLine will help streamline the process.
The v6.1 release adds a number of major usability enhancements including:
• major look and feel overhaul to user interface
• increased performance of key pages
• new executive reporting grid
• addition of Bulk Journals functionality
• new Settings Menu
• auto-certification of amortizable pre-paids
• new checklists for Tasks
• ad hoc reporting capability through SAP Business Objects
Key differentiators/value proposition:
• Faster, more efficient, streamlined account reconciliations, leading to more accurate financial reporting in the end
• Increased control and visibility over entire close process, while reducing risk and costs
• As an SAP Software Solutions Partner, BlackLine is the only vendor certified for integration with SAP
• No hardware or software to install due to quick, simple and scalable SaaS/Cloud implementation
• World-class hosting partner Rackspace
• Only financial close vendor to complete SSAE 16/ISAE 3402 audits ensuring the security of customers’ sensitive data
• Proven solution currently in use by more than 430 companies, many of which are global organizations.
Because BlackLine is offered in an easy to access OnDemand/SaaS environment, the full functionality of the BlackLine application also is available on any mobile device that offers a web browser. Many BlackLine clients access BlackLine from their iPads, as this provides a great way for traveling executives to keep up to date, view reports, see if their close cycle is on time, etc.
In 2011, BlackLine also obtained a license for SAP’s Business Objects software and have incorporated the technology into our reporting functionality in BlackLine.
From a technology standpoint, we continue to move first to adopt technology and add functionality that will enhance our customers’ user experience. To that end, BlackLine is the only financial close software vendor to have completed the SSAE 16/ISAE 3402 security audits.
By partnering with Rackspace and NetApp, BlackLine is able to provide clients with a reliable, secure, high performance SaaS/Cloud application. Taking the security issue a step further, both BlackLine and Rackspace have completed the SSAE 16/ISAE 3402 audits, giving clients even greater peace of mind that their data is safe.
BlackLine plans to continue to innovate/add functionality to the software that will improve the user experience!
Contact: Kimberly Uberti