‘Innovative’ automation tool to improve finance efficiency
BlackLine and SAP have launched a new finance analysis tool to speed up analysis and replace manual processes.
BlackLine, an accounting software provider, and SAP, a resource planning software provider, recently announced the SAP Account Substantiation and Automation tool. The partnership delivers a product to customers that offers the chance to cut down on repetitive tasks and improve financial capability.
According to BlackLine, the product would allow faster analysis, eliminate wasted time, and improve collaboration and control by replacing error-prone and reactive manual processes.
“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-chief executive.
“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, a 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.”
Minimising the time-consuming and repetitive tasks through automation is a great way to free up time for work that requires a human touch, increase business efficiency, and create a more productive finance team.
According to BlackLine, the key capabilities of the SAP Account Substantiation and Automation are:
- 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 and 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.
Dr Christopher Sessar, chief accounting officer at SAP SE, said: “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.”
“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.”
