LOS ANGELES – Nov. 17, 2015 – BlackLine, a leading provider of finance controls and automation software, today announced BlackLine Insights, the industry’s first cloud analytics software designed to give CFOs, controllers and accountants the real-time data needed to benchmark, analyze and improve the efficiency and performance of mission-critical Finance & Accounting (F&A) processes. Unlike benchmark data based on surveys, BlackLine Insights delivers real-time results utilizing live, aggregated and anonymized cloud data collected from BlackLine customers. With Insights, F&A leaders can now fine-tune their processes by measuring performance against best-practice industry benchmarks, and continuously improve organizational performance against industry and corporate goals. BlackLine Insights is available immediately. Click here for more information.
“Many CFOs lack visibility into much of the information they need to assess and improve the performance of the Finance function and its impact on overall business performance,” said Therese Tucker, BlackLine CEO and founder. “Very simply, if an organization wants its business to grow or improve, it must benchmark against measured KPIs. Insights gives CFOs the actionable intelligence they need in order to make informed decisions about resources, spend and process improvement.”
The initial BlackLine Insight KPIs (Key Performance Indicators) measure a number of core accounting activities tied to the financial close, such as account reconciliations. With Insights, Finance & Accounting professionals, from staff accountants to senior executives, can measure activities such as the average number of assignments per user, average assignment rejection rate, average number of completed assignments and average number of days to completion for selected assignment. Near-future updates will expand the number and range of benchmarks.
“Insights is an important tool for our customers who are constantly striving to improve, adjust and adapt their processes to meet their ever-evolving and increasingly challenging business goals,” added Tucker. “Unlike survey-based benchmarking, BlackLine Insights provides the full picture with dynamic intelligence that is based on specific actions performed every month by BlackLine users.”
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/.