BlackLine is a certified Gold member of the Oracle Partner Network. By attaining Gold Level membership, Oracle has recognized BlackLine for its commitment to establish Oracle related knowledge in delivering Enhanced Finance Controls and Automation software solutions through a completely integrated cloud platform, and for uniquely addressing the challenges of joint customers such as Cox Communications, Sirius and other leading organizations to automate their financial close, account reconciliations, bank and credit card reconciliations, journal entries, SOX and regulatory compliance, and numerous other processes. BlackLine complements existing Oracle Corporate Performance Management (CPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems. BlackLine’s technology partnership unlocks the integration of financial and business data from Oracle applications into the BlackLine platform. Joint clients of Oracle and BlackLine have the opportunity to improve accuracy in compliance reporting, automate financial processes, and leverage their existing technology investments.
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 ERP is designed to verify complex transactional information, not validate it. While Oracle can and does automate many accounting processes, its true power lies in delivering big-picture visibility and capabilities—not in streamlining the repetitive and often maddening minutiae of your financial close. It’s a simple truth: no one software solution can handle everything. While ERPs like Oracle are committed to helping their clients improve their finance and accounting processes, they’re experts in the big picture, not the details. As result, client requests for more drill-down functionality usually manifests in the form “add-ons.” The problem? While well-intended, these add-ons are really more “after thoughts,” clunky and limited in their scope. This is especially true if the add-on is part of an on premise solution; on premise software updates are infrequent, which means users are stuck with the add-on as originally designed for a year or two. Cloud-based solutions, on the other hand, are improved and upgraded more frequently, sometimes quarterly, to ensure continually improving functionality. BlackLine is designed to help you manage a complete, accurate, efficient finance and accounting processes, while improving access to real-time accounting information, every minute. It’s the best of both worlds: by using BlackLine and Oracle together, you reduce risk, improve efficiency, and increase the visibility of your close while still retaining the big-picture functionality of your ERP.
You partnered with Oracle for many reasons, including the opportunity 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 hours, not to mention increasing your risk of errors.
Automation reduces errors and increases productivity at the same time. When integrated with Oracle, the BlackLine Finance Controls and Automation platform automates your key accounting processes. Data is seamlessly imported from Oracle to BlackLine, where thousands of transactions are matched in minutes and up to 80% or more of accounts are auto-certified. Practitioners who use Oracle and BlackLine together not only free their accounting teams from these 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. Companies using BlackLine also see additional cost savings directly via users. BlackLine’s free training, via BlackLine U, ensures employees get up to speed faster and are more productive in less time. As BlackLine implementation and ongoing management requires very little IT intervention, IT staff are free to work on more important, value-add work.
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.
It’s even worse if your current financial close solution is located on premise. Software that isn’t cloud-based severely limits access, detrimental in a global economy. Because a global economy also requires a global workforce, your employees and auditors must have real-time, non-location-specific access to accounting data and analytics.
By integrating BlackLine with Oracle, CFOs and controllers gain real-time visibility into financial data and high-risk items—at any time, from anywhere in the world. 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 the riskiest part of any financial process. No matter how diligent or well-intended, 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 typo into a financial tsunami. BlackLine helps organizations eliminate mistakes during data transfer. Data is imported directly from Oracle 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.
Many software companies claim they can eliminate risk, enhance visibility, or improve efficiency. While some can help with specific segments of the financial close, BlackLine is still the most comprehensive and trusted solution for businesses of every size.
And while other niche providers may declare they play nicely with Oracle, integration is rarely seamless—and often requires tremendous input from already swamped IT teams. Meanwhile, BlackLine integrates with any and all other ERPs, so you’re never tied to your existing solution. BlackLine has more than 1,700 customers and over 167,000 users across the world. Our clients are leaders in every industry, from aerospace and defense to hospitality, banking to healthcare, retail to technology. While we’ve won a lot of awards—Deloitte Technology Fast 500, Software Magazine’s list of the 500 ‘largest and best-performing’ software and service providers, and one of the Best Places to Work by the Los Angeles Business Journal—the feedback that matters the most comes from our clients:
“BlackLine allows us to optimize our use of Oracle and really complements our Oracle functionality.” – Tammie Coley, Executive Director, Enterprise Accounting, Financial Systems and Compliance, Cox Communications
Unlike other Franken-suite software providers that 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 financial close and automation solutions. This means each BlackLine solution—from Account Reconciliation to Task Management—was developed organically in-house. Why does unification matter? Because it’s the key to ensuring BlackLine integrates seamlessly with Oracle and any other ERP. It enables one reporting engine across all products, intuitive familiarity for end users and administrators, and efficiency gains through native cross-product integration. Just as important, because a single platform helps improve the end-user experience, organizations see higher adoption rates—and thus a better ongoing ROI on their technology investment. 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 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 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 solution.