BlackLine, Inc. launched its Financial Reporting Analytics solution, which will be sold as an SAP Solution Extension under the name SAP Account Substantiation and Automation by BlackLine, financial review option.
The solution is set to enable chief financial officers to perform proactive entity and group-level analysis of financial statement line items and variances, providing users with efficient commentary functionality, end-to-end transparency, and traceability.
BlackLine is an SAP Solution Extension partner specifically chosen to complement SAP’s record-to-report solutions, according to a press release. The company'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.
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 of the solution 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 centralised workspace for review, fluctuation explanations, and associated approvals - from local to group financial statement levels and across all ERPs, SAP and non-SAP
