BlackLine, Inc. launched its generative artificial intelligence-powered Journals Risk Analyser, empowering finance and accounting leaders with anomaly detection.
The new technological advancement paves way for powerful insights and trends to help out finance professionals to streamline audits and boost risk management and compliance.
The move is part of BlackLine’s strategy to embed AI across its entire platform of financial close, intercompany accounting, invoice-to-cash, and consolidation solutions.
Developed in partnership with customers, Journals Risk Analyser uses GenAI to provide key trends, insights, and anomaly detection associated with journal entries, allowing finance leaders to ensure compliance with company policies while simultaneously making audits more efficient and less challenging.
In a press release, BlackLine says its Journals Risk Analyser captures, understands, and evaluates companies’ journal entries across multiple ERPs and systems and offers dynamic, user-friendly dashboards that provide one-click access to important metrics.
The functionality enables new and actionable visibility into companies’ journal entries and process and allows for dynamic KPI trending. AI-generated insights can flag potential areas of fraud and compliance risk, and highlight potential areas for improvement. It can also be implemented rapidly and is compatible with any ERP.
BlackLine’s Journals Risk Analyser is expected to be generally available in the third quarter of 2024. BlackLine is currently offering early adoption.
