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.
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Oracle 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 Oracle, 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 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.
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.
Webinar: Cox Communications:
Leveraging Oracle and BlackLine for an Automated Close
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.
“We used to reconcile manually. Nobody has to review these accounts any longer. Spending time up-front to build a process proved to be valuable in the long run. We spend less time on the mechanics of reconciliation. We have more time now to analyze the exceptions.” —Jennifer Mash, Business Systems Analyst, AAA
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.