Step Six
Automated notifications
In fast moving markets, the speed of insight matters. Which is why anyone relying on accurate financial data needs to know about unexpected fluctuations—fast. BlackLine helps you achieve this using AI and rules-based logic.
For example:
Imagine one of the balance sheets (cash accounts) is coming back with a 10% difference month over month that you didn’t expect. BlackLine’s Variance Analysis and generative AI insight will help you by flagging this as an anomaly. And then provide you with transaction-level details explaining why the variance occurred.
Our generative AI capabilities will also draw the entity-level details and provide you with variance explanations at the consolidated level across multiple accounts. All of which is viewable in a centralized workspace including purpose-built dashboards and reports, so you get a near real time view of fluctuations.
Does the use of Generative AI described here increase risk?
In short, no. Our approach to AI is that it’s always used in a way that makes the most of human expertise. As such, insights delivered from our AI solutions are always treated as suggested recommendations.
Your accountants are always in control.
The final analysis, approval, and documentation is always in human hands.
Spotlight on:
Journals Risk Analyser
Beyond bank reconciliations, BlackLine deploys AI across your entire R2R operations through a broad range of cutting-edge features. One that gets our customers particularly excited is our AI-powered Journals Risk Analyser.
This solution captures and evaluates all your journal entries—across all your ERPs and systems. It then gives you visibility into journal entries and provides you with easy-to-use dashboards so you can assess the findings and view KPIs.
Examples:
Analyze by Journal Entry Type gives you visibility into risky transactions. It also gives you AI-powered insights into where you can start eliminating manual journal entries to improve your processes.
Analyze by Journal Entry Amount highlights any larger amounts for further review so you can ensure compliance. But it can also highlight small journal entry amounts that might be wasting your employees’ time.
It’s all about providing you with the transparency and assistance you need to reduce risk and make better decisions.
JOURNALS RISK ANALYSER IN ACTION:
Let’s say your policy is journal entries less than $250 do not need to be posted because they're a time drain. But some employees are still posting journal entries for amounts under $250. The Journals Risk Analyser can highlight how many of these journal entries are being posted so you can eradicate them.
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