LOS ANGELES, LONDON AND SYDNEY – Nov. 17, 2015 – BlackLine, a leading provider of finance controls and automation software, today announced its latest platform release featuring a number of new products and features designed to enable Finance & Accounting (F&A) departments to benchmark team performance, improve visibility into global operations, and enhance communication and collaboration across their entire organizations.
Key products included in the release are BlackLine Insights, benchmark analytics software that gives CFOs, controllers and accountants the real-time data needed to benchmark, analyze and improve the efficiency and performance of mission-critical F&A processes; BlackLine Mobile, which provides near real-time dashboard reporting and the ability to approve and check the status of account reconciliations from a mobile device; Trust.BlackLine.com, a site that provides near real-time visibility into BlackLine’s uptime and performance; and Intercompany Settlement, an enhancement of BlackLine’s Intercompany Hub, the industry’s first enterprise-class clearinghouse for intercompany transactions.
“We are very excited about the new functionality provided in this latest BlackLine release as it continues to deliver on our goal of providing customers with unprecedented control, visibility and efficiency across the entire organization,” said Therese Tucker, CEO and founder of BlackLine.
Some additional detail on the key enhancements and additions to BlackLine’s Modern Finance Platform:
BlackLine Insights is a new solution that aggregates data from the activities of BlackLine customers around the world. Built on BlackLine’s unified cloud platform, Insights integrates with every BlackLine product to deliver summary statistics, usage information and deep, accounting-focused analysis. Drawing upon the anonymized and dynamic data resulting from actions taken by BlackLine users, Insights helps CFOs and controllers measure their team and organizational performance and compare themselves against their peer group based on various industry benchmarks.
BlackLine Mobile allows users to monitor and approve reconciliations directly from their mobile devices with near real-time views into the current certification state of reconciliations. In addition to visibility into the status of reconciliations, core features such as quick filters for Key Accounts and user-specific “My Views” facilitate reconciliation management from mobile devices. BlackLine Mobile is available on both iOS and Android.
Intercompany Settlement is the latest feature of the BlackLine Intercompany Hub. The intercompany reconciliation process, when handled manually, can require hundreds of employees within a large organization and countless hours of time. Typically, once a preliminary reconciliation has been completed, companies attempt to settle the transaction via a transfer of funds. The resulting settlement matrix, complete with partial payments, can take a significant amount of work to create, primarily due to the collaborative nature of the process. Because of the complexities involved, intercompany transactions are one of the most frequent sources of uncertainty for F&A. Following the recent release of automated invoice generation, the Hub now helps global or multi-entity enterprises monitor settlement matrices associated with entities throughout thei entire organizations, giving CFOs a global view of what their various entities owe to each other. BlackLine’s Intercompany Settlement is an example of how continuous accounting can transform a rote, manual, low-level process into near real-time information that can be used as a strategic management tool for the CFO.
Trust.BlackLine.com is a site that provides near real-time transparency into BlackLine’s performance and uptime.
The latest BlackLine release also includes new features for enhanced reporting functionality, increased collaboration abilities and more streamlined work flow. BlackLine Insights, BlackLine Mobile App, Trust.BlackLine.com and Intercompany Settlement are currently available to BlackLine customers. For more information, click here.