The Silicon Review
Since being founded in 2001, BlackLine has become a leading provider of cloud software that automates and controls the entire financial close process. The company’s vision is to modernize the finance and accounting function to enable greater operational effectiveness and agility and is committed to delivering innovative solutions and services to empower accounting and finance leaders around the world to achieve Modern Finance.
The passion and dedication to its customers are why BlackLine’s Finance Controls and Automation platform is trusted by more than 1,800 companies in over 130 countries around the world and why it has been named to the Forbes Cloud 100 list and the Inc. 500/5000 list for the ninth year in a row. Headquartered in Los Angeles, California, with offices in Australia, the United Kingdom, Germany, and throughout the United States, the company’s team of professionals and network of partners help transform the way accounting and finance teams work to drive more accurate financials and more effective organizations.
If it is about financial close, BlackLine has got the right solution
BlackLine builds solutions that modernize the finance and accounting function to empower greater productivity and detect accounting errors before they become problems. The company’s products work in unison to eliminate manual spreadsheet-dependent processes prone to human error. BlackLine Account Reconciliations automates and standardizes the reconciliation process, and natively integrates with other BlackLine products to help manage every element of reconciliations and the financial close. Streamlining account reconciliations helps ensure accurate and efficient accounting activities, free from manual, error-prone practices. BlackLine is the only provider that offers a unified cloud platform supporting the entire close-to-disclose process and the leader in Enhanced Finance Controls and Automation software. It enables clients to move away from out-of-date practices and help finance and accounting professionals work smarter, more efficiently, and accurately. Clients around the world use BlackLine. BlackLine’s cloud platform unifies the experience of more than 178,000 people around the world as they accurately, securely, and efficiently execute critical accounting tasks from reconciliations and journals to intercompany settlement and the financial close.
With so many steps and dependencies in the financial close, it is easy to waste time and increase risk by missing vital tasks or skipping critical approvals. The best-run accounting organizations define and standardize their close processes from corporate to subsidiary, have clear visibility into progress, ensure controls and documentation, and have accountability and assignment of tasks. BlackLine Smart Close enables a simplified, standardized, and automated financial close, embedded directly within SAP.
Close Automation: From Task Scheduling to Escalation
Automate task and job scheduling, execution, and monitoring of close tasks, as well as outcome verification and escalation ― from corporate to subsidiary. Job scheduling even works with your organization’s own internal scheduling tools. Built-in scheduling process templates for tasks like suspense account monitoring, and open item analysis put time-consuming tasks on auto-pilot.
Transforming the Health industry
Delivering high-quality care isn’t just about having the latest medical technology. Your ability to serve patients also requires modern accounting technology to ensure a strong financial foundation. Yet if you’re still relying on manual processes to manage your close, your financial foundation is shaky at best. Keeping up with the need for more care means knowing exactly what you can spend and when. Yet a spreadsheet-driven close hampers visibility and transparency—bad news for growing healthcare systems with ever-expanding patient loads. A complex, manual close also increases errors. Relying on spreadsheets to close the books every month is like using file folders for patient records. It’s both inefficient and risky. One transcribed number in one cell, multiplied by 100 or even a 1,000, not only increases scrutiny but can reduce your organization’s ability to cost-effectively care for patients over time. Spreadsheets aren’t efficiently scalable. Healthcare organizations are merging rapidly. This translates to more patient accounts, but adding more spreadsheets and even more accounting personnel isn’t the answer. BlackLine helps healthcare organizations close faster, more accurately, and create a stronger, more visible financial foundation. BlackLine Finance Controls and Automation platform automatically imports data from bank files, POS systems, sub-ledgers, and ERPs. Transactions are matched faster—one million per minute—yet with fewer errors, leaving accountants’ time to focus on analysis and discrepancies. And internal and external auditors can access records in real time, from anywhere in the world, without asking for files or waiting on emails.
Embark, Engage and Evolve
The BlackLine implementations team and ecosystem partners are focused on beating your expectations, getting you up and running efficiently and effectively, and ensuring that it delivers powerful value to finance and accounting people and process. With thousands of trained BlackLine services professionals globally, at BlackLine and within its partner network, you’re guaranteed regional, industry, and business process expertise that’s tailored to your needs. With 98% customer satisfaction and an analyst acclaimed customer experience, the company’s implementation solutions are engineered for your success. BlackLine implementations are tailored to your needs and organization and are based on your expertise, staffing, and business goals. The company’s engage methodology provides a proven six-step delivery program, from kick off to the configuration, education, and delivery. Finally, its rich partner network consists of trusted experts who have delivered success at companies of all sizes, across locations and industries.
The strength and Source of Inspiration
Therese Tucker, Founder, and CEO: Therese founded BlackLine in 2001. She designed the first offerings of BlackLine’s products, engineered its transition to the cloud in 2007, and has led the organization in automating the financial close process via the company’s flagship Finance Controls and Automation Platform. Under her direction, BlackLine has experienced strong growth since its inception. Previously, Therese served as Chief Technology Officer for SunGard Treasury Systems. She holds a Bachelor of Science degree in Computer Science and Mathematics from the University of Illinois.
“Our vision is to modernize the finance and accounting function to enable greater operational effectiveness and agility”