LOS ANGELES – June 6, 2011 – Financial close software provider BlackLine Systems will present an educational session entitled “The Road to Reconciliation: Closing with Confidence and Achieving Balance Sheet Integrity with Solutions from BlackLine and SAP” at the Financials 2011 conference, being held in Amsterdam June 7-9, 2011. Representatives from SAP AG (NYSE:SAP), Medtronic (NYSE:MDT) and Proxyon International also will participate.
Automation of account reconciliation processes is a critical step on the road to achieving ‘balance sheet integrity’ and efficient, accurate and timely financial close cycles.An optimized end-to-end financial close cycle can provide a solid foundation for evaluating business performance, supporting organizational decisions and satisfying external reporting requirements.
In the past, for account reconciliation, accounting/finance departments had to rely on spreadsheet-driven processes that often contained hidden errors, resulting in costly mistakes. The BlackLine 5.1 account reconciliation software, certified for integration with the SAP® ERP application, automates manual account reconciliation processes normally completed outside of SAP solutions.
The BlackLine educational session at Financials Europe 2011 will show how automating the traditionally manual, labor-intensive and spreadsheet-driven account reconciliation process can help customers – whether operating in an environment of only SAP applications or multiple ERP solutions – achieve a quicker and more accurate close. By doing this, customers can increase efficiencies, productivity, visibility and control, while minimizing risk and reducing bottom line costs.
The session will begin with an overview about financial close processes and approaches to account reconciliation, to be given by Stefan Karl, chief solution expert, Finance Solutions, SAP. Evelina Morar, associate accountant at client company Medtronic, will present a case study on the key benefits and ROI the $16 billion public company has experienced since using BlackLine alongside the SAP ERP Financials solution to reconcile global accounts. In addition, Pieter Geyer, solution architect for financials solutions at Proxyon International, will contribute insight based on his hands-on experience in the field.
BlackLine is an SAP software solution partner, member of the SAP PartnerEdge™ program and a participant in the SAP EcoHub solution marketplace – SAP’s premier online destination designed to provide SAP customers with information on relevant, complementary technology solutions that are certified by SAP (such as the BlackLine 5.1 solution).
Just last month, BlackLine announced it was a 2011 SAP Pinnacle award finalist in the “Software Solution Newcomer of the Year” category. SAP Pinnacle awards are presented annually to the “best and brightest” of the SAP partner ecosystem, recognizing partners that have excelled in developing and growing their partnership with SAP and driving customer success.
Please visit BlackLine at http://ecohub.sdn.sap.com/irj/ecohub/solutions/AccountReconciliations.
BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralising and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize enterprises. Designed to complement ERP and other financial systems, BlackLine’s cloud platform increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation.
BlackLine’s mission is to continuously improve the quality, accuracy and efficiency of Finance and Accounting by centralising key functions within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities. BlackLine helps companies modernise accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close. To date more than 2,800 companies with users in over 130 countries around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements.
BlackLine is recognized by Gartner as a Leader in its 2019 Magic Quadrant for Cloud Financial Close Solutions.
Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney servicing its 14 global locations.For more information, please visit https://www.blackline.com/.