NetSuite is an indispensable tool in your organization’s financial strategy, from coordinating myriad accounting processes to ensuring compliance, tracking the bottom line to reporting to stakeholders. Yet while critical to back office finance management, your ERP can’t do it all. Even with a tool as powerful as NetSuite, there are still functionality gaps in core financial processes—gaps that consume valuable time and increase the risk of errors. BlackLine is designed to plug these gaps and complements NetSuite by automating transaction matching, account reconciliations, and intercompany transactions, and improving the workflow and visibility of tasks during the entire close. BlackLine delivers critical “last mile” functionality missing from even the most comprehensive ERP platforms. The result? Real-time visibility into the status and accuracy of your close, streamlined workflow and task management, and a reduced burden on already strapped accounting and IT resources.
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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.
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.
Solutions addressing "The Last Mile of Finance" and financial governance have expanded to include functionality currently missing from ERP and CPM platforms. These Enhanced Finance Controls and Automation solutions now are presenting innovative opportunities to improve the finance function. – Gartner, Inc.