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.”