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Under Armour is currently on an aggressive growth path both within North America as well as globally. “Some of Under Armour’s key growth strategies include the footwear, direct-to-consumer, and international businesses,” says Molly E. Boyle, CPA, Senior Manager of Corporate Accounting at Under Armour, and the business is also continuing to push the key growth drivers of men’s apparel and women’s apparel. Under Armour is currently on an aggressive growth path both within North America as well as globally. “Some of Under Armour’s key growth strategies include the footwear, direct-to-consumer, and international businesses,” says Molly E. Boyle, CPA, Senior Manager of Corporate Accounting at Under Armour, and the business is also continuing to push the key growth drivers.
Most financial systems were designed to meet the needs of a bygone era of accounting processes. Yet traditional finance is time-consuming and error-prone, even with the latest technology. At its core, your NetSuite platform is designed to verify complex transactional information, not validate it. While NetSuite can and does automate many accounting processes, it was never designed to handle everything, especially when it comes to your financial close. BlackLine integrates seamlessly with NetSuite to modernize and automate the financial close process - improving accountant efficiency, providing visibility into key financial processes, and reducing risk with controls enforcement.
You partnered with NetSuite to save time managing your financials. But if you’re relying on spreadsheets and other manual tools to track and aggregate reconciliation data, you’re still wasting valuable accountant time, not to mention increasing your risk of errors. When integrated with NetSuite, The BlackLine Finance Controls and Automation Platform automates your key accounting processes. Data is seamlessly imported from NetSuite to BlackLine, where thousands of transactions are matched in minutes and up to 70% of accounts can be auto-certified. Practitioners who use NetSuite and BlackLine together not only free their accounting teams from mundane, transactional processes—empowering them to focus more on high-value analysis—but they also see significantly reduced costs in printing, production, and storage of supporting documents.
A lack of visibility and transparency into core financial and accounting processes, the financial close in particular, leaves room for tremendous uncertainty. This lack of confidence delays business decisions and, worse, leaves organizations vulnerable to misstatements and increased scrutiny and regulation. By automating the close process and integrating with NetSuite, BlackLine delivers embedded analytics, dashboards, and configurable reports designed to help users identify discrepancies faster. Leaders can rapidly make smarter decisions, saving time and resources while also instilling confidence in the market and among financial analysts.
Manual data entry is perhaps the riskiest part of any financial process. No matter how diligent, human beings make errors. Back in the days of columnar pads, errors were more easily identified. But today, one mistake on a single spreadsheet can quickly be duplicated across tens—or hundreds—of spreadsheets, turning a simple mistyped number into a financial disaster. BlackLine helps organizations eliminate mistakes during data transfer. Data is imported directly from NetSuite and subject to predetermined internal controls within BlackLine. Eliminating the risks associated with reporting and closing accurately require not only the installation of internal controls, but also effectively enforcing them. Via BlackLine, the entire data transfer process is standardized, with rules automatically enforced. To ensure the quick identification of irregular activity, each step in the process is tracked with a full audit trail and configurable risk rules.
BlackLine is the leader in Enhanced Finance Controls and Automation (EFCA) software and the only provider that offers a unified cloud platform supporting the entire close-to-disclose process. The BlackLine Finance Controls and Automation Platform helps midsize companies and large enterprises by filling in the gaps left by ERP and CPM systems, and thereby strengthening controls, lowering compliance risks, and gaining greater efficiencies and visibility throughout the last mile of finance. Delivered through a scalable and highly secure cloud model, and built from a single code base, the platform supports many key accounting and financial processes, including the financial close, account reconciliations, intercompany accounting, and controls assurance, fueling confidence throughout the entire accounting cycle.
Unlike other Franken-suite software providers that often patch together different applications under one user interface, BlackLine is a single code base with integrated functionality. BlackLine is the only truly unified cloud platform among Enhanced Finance Controls and Automation solutions. This means each BlackLine solution—from Account Reconciliations to Task Management—was developed organically in-house. Why does unification matter? Because it’s the key to ensuring BlackLine integrates seamlessly with NetSuite. BlackLine’s commitment to open connectivity allows clients to integrate with SAP, Oracle, Lawson, NetSuite, Microsoft Dynamics, Epicor, Workday, and Intacct-along with other pre-configured connectors to over 40 ERPs. It enables one reporting engine across all products, intuitive familiarity for end users and administrators, and efficiency gains through native cross-product integration. Unification is also crucial to keeping data safe and simultaneously accessible: the BlackLine platform is a private cloud—no third-party hosting—to ensure continuous security, uptime, and hot disaster recovery.
Financial information is not for public consumption, and BlackLine takes security very seriously. Through continual penetration testing that includes weekly vulnerability scans and annual tests by third parties, BlackLine ensures the continual integrity of client financial information. This ISO 27001 Certified Platform also has earned certifications in SSAE16, SOC2 Type II, and SOC3. Coupled with top tier data centers, BlackLine is trusted by organizations in every industry, including those for whom data integrity is a matter of national security, such as government defense contractors.
From the very beginning, BlackLine was driven by customer needs. The very first incarnation of the account reconciliation product was launched when a customer described how difficult it was to track who owned what reconciliations in a spreadsheet. BlackLine’s commitment to its clients and their users persists to this day. From the always accessible learning management system, BlackLine U, to our 24/7/365 customer support, it is an organizational imperative to not only get users up and running quickly but to ensure access to resources within BlackLine around the clock. Input from client organizations filters through a community of users, providing feedback that directly informs and drives the future of the product.