New Solution Developed by BlackLine to be Sold as an SAP Solution Extension
SAP Account Substantiation and Automation by BlackLine, financial review option, is the latest market-leading solution extension from BlackLine to be sold by SAP
LOS ANGELES, June 4, 2024 /PRNewswire/ -- BlackLine, Inc. (Nasdaq:BL) today announced its Financial Reporting Analytics solution will be sold as an SAP Solution Extension under the name SAP Account Substantiation and Automation by BlackLine, financial review option. This innovative solution helps enable the Office of the CFO to perform proactive entity and group-level analysis of financial statement line items and variances, providing users with efficient commentary functionality, end-to-end transparency, and traceability.
BlackLine is an SAP Solution Extension partner specifically chosen to complement SAP's record-to-report solutions. BlackLine's SAP Solution Extensions provide unique record-to-report and intercompany governance capabilities that have undergone a premium qualification process exclusive to SAP Solution Extensions.
"BlackLine has been a long-time SAP partner and uniquely provides solution extension capabilities in the record-to-report and intercompany spaces," said Owen Ryan, BlackLine co-CEO. "With our newest product, we offer customers a fully integrated, end-to-end solution for their critical finance and accounting processes. SAP Account Substantiation and Automation by BlackLine, financial review option, is just the latest of several BlackLine solutions sold directly by SAP to help deliver greater transparency, efficiency, and control for the Office of the CFO."
"BlackLine helps businesses streamline end-to-end accounting processes by providing account substantiation, accounting automation, intercompany governance, and now proactive financial review capabilities for both entity and group levels," said Dr. Christopher Sessar, chief accounting officer, SAP SE. "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.
SAP Account Substantiation and Automation by BlackLine, financial review option, is sold and supported by SAP. Customers can execute variance analysis faster, eliminate wasted time, and improve collaboration and control across the Office of the CFO by replacing error-prone, reactive manual processes with a proactive continuous approach.
Key capabilities include:
- Facilitating comprehensive and proactive validation of entity and group-level financials with drill-down transparency to underlying data
- Advanced reconciliation automation and certification, including statutory-to-GAAP comparisons, with tolerance-based variance analysis and embedded oversight & control
- A centralized workspace for review, fluctuation explanations, and associated approvals - from local to group financial statement levels and across all ERPs, SAP and non-SAP
To learn more about SAP Account Substantiation and Automation by BlackLine, financial review option, as well as other SAP Solution Extensions by BlackLine for record-to-report and intercompany governance, go here.
More than 1,300 of the world's leading companies currently run BlackLine alongside SAP financial management products. Additionally, BlackLine is optimized for today's modern enterprise supporting integration to more than 30 different ERP and source systems, an added benefit for businesses using SAP solutions with multiple ERPs.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting and finance processes are not sustainable. BlackLine's market-leading cloud platform and customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions to manage and automate financial close, intercompany accounting, invoice-to-cash, and consolidation processes – inspiring, powering, and guiding large enterprises and midsize businesses on their digital finance transformation journeys.
Nearly 4,400 customers trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer of the cloud financial close market and is recognized as the leader by customers at leading end-user review sites including G2 and TrustRadius. BlackLine is a global company with operations in major business centers including Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Sydney, Bangalore, and Singapore. For more information, visit blackline.com.
BlackLine Forward-looking Statements
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Any forward-looking statements contained in this press release are based upon BlackLine's current plans, estimates and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company's ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in our Annual Report on Form 10-K. Additional information will also be set forth in our Quarterly Reports on Form 10-Q.
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