BlackLine, Inc. has announced that its Financial Reporting Analytics solution will now be available as an SAP Solution Extension, under the name SAP Account Substantiation and Automation by BlackLine, financial review option. This cutting-edge solution equips CFO offices with the ability to conduct proactive analysis of financial statement items and variances at both entity and group levels, offering efficient commentary functionality, full transparency, and comprehensive traceability.
As an SAP Solution Extension partner, BlackLine has been selected to enhance SAP’s record-to-report solutions. BlackLine’s SAP Solution Extensions deliver specialized record-to-report and intercompany governance capabilities, having met the stringent qualification standards exclusive to SAP Solution Extensions.
“BlackLine has long been a trusted SAP partner, providing unique extension capabilities in the record-to-report and intercompany domains,” stated Owen Ryan, BlackLine co-CEO. “Our newest product offers customers an integrated, end-to-end solution for critical finance and accounting processes. The SAP Account Substantiation and Automation by BlackLine, financial review option, is the latest in a series of BlackLine solutions sold directly by SAP to enhance transparency, efficiency, and control for CFO offices.”
Dr. Christopher Sessar, Chief Accounting Officer at SAP SE, added, “BlackLine assists businesses in streamlining end-to-end accounting processes by offering capabilities in account substantiation, accounting automation, intercompany governance, and now proactive financial review for both entity and group levels. By providing BlackLine’s cloud-based solutions as SAP Solution Extensions, we empower our global customers to experience risk reduction, improved efficiency, real-time reporting, and enhanced transparency.”
SAP Account Substantiation and Automation by BlackLine, financial review option, will be sold and supported by SAP. This solution enables faster variance analysis, reduces wasted time, and enhances collaboration and control across CFO offices by replacing error-prone, reactive manual processes with a proactive, continuous approach.
Key features include:
- Comprehensive and proactive validation of financials at entity and group levels, 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 and control.
- A centralized workspace for review, fluctuation explanations, and approvals, applicable to local and group financial statements across all ERPs, both SAP and non-SAP.