New Solution Developed by BlackLine to be Sold as an SAP Solution Extension
BlackLine (Nasdaq: BL) announced its new solution, SAP Account Substantiation and Automation by BlackLine, financial review option, which will be sold as an SAP Solution Extension. This product aims to assist CFOs with proactive analysis of financial statement items, offering transparency and traceability. BlackLine, a long-term SAP partner, provides unique record-to-report capabilities. SAP's chief accounting officer highlighted the efficiency, risk reduction, and transparency this solution offers. Key features include advanced reconciliation automation and centralized workspace for financial reviews. Over 1,300 companies use BlackLine with SAP products, benefiting from integration with more than 30 ERP systems.
- New solution extension partnership with SAP enhances BlackLine's market reach.
- Product offers significant improvements in financial transparency and traceability.
- Over 1,300 leading companies use BlackLine alongside SAP, indicating strong market penetration.
- Integration with more than 30 different ERP systems provides flexibility for diverse enterprises.
- The solution promises advanced reconciliation automation and proactive financial review capabilities.
- BlackLine's long-term partnership with SAP suggests strong credibility and reliability.
- No specific financial performance figures or projections were provided in the PR.
- Details on the impact of the new solution on BlackLine’s revenue and profitability are unclear.
Insights
BlackLine's new product being sold as an SAP Solution Extension represents strategic synergy between two established players, offering advanced financial review capabilities. This collaboration is likely to have a significant positive impact on BlackLine's financial performance in the short term due to its enhanced market reach via SAP. The long-term benefits hinge on customer adoption rates and recurring revenue from subscription services.
Integration with SAP's ecosystem broadens BlackLine's customer base, which can result in higher sales volumes. The ability to perform proactive entity and group-level analysis, combined with enhanced reconciliation automation, aligns with current industry trends of adopting comprehensive, automated financial solutions. This can help improve efficiency and reduce costs for customers, making BlackLine's offering attractive. Investors should monitor quarterly earnings for upticks in revenue attributed to this extension to gauge initial success.
The centralization of financial review processes into a single platform like SAP Account Substantiation and Automation by BlackLine adds technical value by providing end-to-end transparency and traceability. The product's ability to integrate with over 30 different ERP systems, including non-SAP platforms, demonstrates a high degree of flexibility and compatibility. This is important for large corporations with diverse IT landscapes.
From a technical perspective, the advanced reconciliation automation and variance analysis features can significantly reduce the time and errors associated with manual processes, thus enhancing the reliability of financial reporting. For tech-savvy investors, the scalability and robust integration capabilities can be seen as an indication of strong product design, potentially driving widespread adoption.
SAP Account Substantiation and Automation by BlackLine, financial review option, is the latest market-leading solution extension from BlackLine to be sold by SAP
BlackLine is an SAP Solution Extension partner specifically chosen to complement SAP's record-to-report solutions. BlackLine's SAP Solution Extensions provide unique record-to-report and intercompany governance capabilities that have undergone a premium qualification process exclusive to SAP Solution Extensions.
"BlackLine has been a long-time SAP partner and uniquely provides solution extension capabilities in the record-to-report and intercompany spaces," said Owen Ryan, BlackLine co-CEO. "With our newest product, we offer customers a fully integrated, end-to-end solution for their critical finance and accounting processes. SAP Account Substantiation and Automation by BlackLine, financial review option, is just the latest of several BlackLine solutions sold directly by SAP to help deliver greater transparency, efficiency, and control for the Office of the CFO."
"BlackLine helps businesses streamline end-to-end accounting processes by providing account substantiation, accounting automation, intercompany governance, and now proactive financial review capabilities for both entity and group levels," said Dr. Christopher Sessar, chief accounting officer, SAP SE. "By offering BlackLine's cloud-based solutions as SAP Solution Extensions, we are enabling our global customers to adopt and experience risk reduction, greater efficiency, real-time reporting, and improved transparency.
SAP Account Substantiation and Automation by BlackLine, financial review option, is sold and supported by SAP. Customers can execute variance analysis faster, eliminate wasted time, and improve collaboration and control across the Office of the CFO by replacing error-prone, reactive manual processes with a proactive continuous approach.
Key capabilities include:
- Facilitating comprehensive and proactive validation of entity and group-level financials with drill-down transparency to underlying data
- Advanced reconciliation automation and certification, including statutory-to-GAAP comparisons, with tolerance-based variance analysis and embedded oversight & control
- A centralized workspace for review, fluctuation explanations, and associated approvals - from local to group financial statement levels and across all ERPs, SAP and non-SAP
To learn more about SAP Account Substantiation and Automation by BlackLine, financial review option, as well as other SAP Solution Extensions by BlackLine for record-to-report and intercompany governance, go here.
More than 1,300 of the world's leading companies currently run BlackLine alongside SAP financial management products. Additionally, BlackLine is optimized for today's modern enterprise supporting integration to more than 30 different ERP and source systems, an added benefit for businesses using SAP solutions with multiple ERPs.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting and finance processes are not sustainable. BlackLine's market-leading cloud platform and customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions to manage and automate financial close, intercompany accounting, invoice-to-cash, and consolidation processes – inspiring, powering, and guiding large enterprises and midsize businesses on their digital finance transformation journeys.
Nearly 4,400 customers trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer of the cloud financial close market and is recognized as the leader by customers at leading end-user review sites including G2 and TrustRadius. BlackLine is a global company with operations in major business centers including
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SOURCE BlackLine
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