LAS VEGAS— INTHEBLACK – Nov. 13, 2018 – BlackLine, Inc. (Nasdaq: BL), a leading provider of financial automation solutions that enable Continuous Accounting, today announced updates to its flagship cloud platform designed to further enable Finance & Accounting departments to transform their operations, ultimately building greater trust and confidence in ‘the numbers’, while also mitigating risk. The new features will be unveiled this week at BlackLine’s global user conference InTheBlack 2018: The Accounting & Finance Innovation Summit (ITB 2018) in Las Vegas.
Highlights of BlackLine’s updated platform functionality include:
_Greater Connectivity & Integration for Finance System_s
With its newest platform release, BlackLine is delivering on a key initiative to better support customers’ data integration and connectivity needs by introducing new ERP connectors, such as the recently announced BlackLine Connector for Oracle, and APIs (application programming interfaces) to automatically move accounting data between sources.manipulation that all-too-often occurs manually using spreadsheets and mitigation of risk associated with manually moving data and information between systems, and deeper integration with other business processes and systems so that all stakeholders—from auditors to controllers to the CFO—have even greater access to timely and relevant information.
Customer benefits include reduction in the amount of data extraction and manipulation that all-too-often occurs manually using spreadsheets and mitigation of risk associated with manually moving data and information between systems, and deeper integration with other business processes and systems so that all stakeholders—from auditors to controllers to the CFO—have even greater access to timely and relevant information.
Transaction Matching Powered by Machine Learning
BlackLine has unveiled machine learning capabilities in Transaction Matching based on expertise and intelligent automation achieved after years of helping customers match billions of transactions.
By applying machine learning algorithms, customers are expected to be able to achieve unprecedented levels of automation, even for many complex reconciliation scenarios. Over time, as the system grows more intelligent, accountants can be freed from focusing on these time-consuming reconciliations and instead focus on being a trusted business partner.
New Dashboards to Help Drive Finance Performance Management
In a continuous effort to deliver modern analytics to Finance & Accounting, BlackLine has launched new dashboards providing greater visibility into the status of the close.
Whether a CFO, controller or accountant, BlackLine’s new dashboards provide at-a-glance information that allows users to visualize their data in unique ways to quickly identify and uncover business insights.
New charting and visualization functionality enables customers to better analyze the quality, timeliness and accuracy of their accounting results, uncover potential risks and more effectively measure overall team effectiveness.
New Compliance Product to Ensure Greater Trust in the Numbers
BlackLine has also improved compliance and controls functionality across the entire platform with the introduction of BlackLine Compliance.
Disparate systems and processes can cause inefficiencies and prevent proper evaluation of risk exposure for compliance, internal control and internal audit teams. With BlackLine’s new compliance product, risks, policies and procedures, controls, issues and audit programs are integrated in a unified, cloud-based system with BlackLine’s leading financial automation software solutions.
“With our newest platform release, we are bringing forward the latest innovations in financial close technology including machine learning and advancements in data integration and analytics,” said Therese Tucker, CEO of BlackLine. “Our customers can expect to benefit from greater data integrity, as well as improved data analysis, compliance and risk management capabilities.”
The above features and updates are currently available in the latest release of BlackLine’s financial controls and automation platform. ITB 2018 is taking place Monday to Thursday, Nov. 12th to 15th, at Caesars Palace in Las Vegas. For more information, go here.