BlackLine’s Financial Reporting Analytics Solution Now Sold as an SAP Solution Extension

BlackLine recently announced that its Financial Reporting Analytics solution will now be offered as an SAP Solution Extension under the name SAP Account Substantiation and Automation by BlackLine, financial review option.

Financial Review option facilitates comprehensive and proactive validation of entity and group-level financials, providing drill-down transparency to the underlying data. It features advanced reconciliation automation and certification, encompassing statutory-to-GAAP comparisons, tolerance-based variance analysis, and embedded oversight and control mechanisms. Additionally, it offers a centralized workspace for review, fluctuation explanations, and associated approvals, seamlessly integrating financial statements from local to group levels across all ERP systems, both SAP and non-SAP.

“BlackLine has been a long-time SAP partner and uniquely provides solution extension capabilities in the record-to-report and intercompany spaces. 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, 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,” said Owen Ryan, BlackLine co-CEO, in a press release.

Meeting the Market

BlackLine’s solution availability comes at a critical time for finance and accounting teams within SAP organizations. These teams are facing significant pressure to deliver analytics that empower data-based decision making.

SAPinsider’s AI and Automation in Finance Report found that the financial close is one of the biggest pain points among SAP finance teams, cited as an issue by 33% of survey respondents. Yet just 15% of these same organizations are utilizing automated financial close solutions.

This Solution Extension can perform tolerance-based variance analysis, which not only provides crucial insights, but also cuts down on the need for manual workflows. This solution also bolsters collaboration with a centralized workspace for teams to review and create fluctuation explanations ahead of, during and after the books are closed.

This workflow represents a major step forward by eliminating the need to follow up on variances through email and spreadsheets that many organizations rely on. The solution also enforces controls and helps streamline the audit process, as explanations are reviewed, approved, and housed within BlackLine.

As an SAP Solution Extension, financial review option, naturally complements SAP Group Reporting. Working in concert, these two offerings enable continuous accounting so users can perform preliminary consolidation calculations and analysis without waiting until the end of the period.

Conclusion

Financial reporting is one of the most time-consuming and challenging tasks facing SAP finance and accounting teams. SAP Account Substantiation and Automation by BlackLine, financial review option is designed to help ease this burden, automating essential workflows and providing proactive analysis to review essential financial statements. As an SAP Solution Extension, SAP reviews the offering each quarter to ensure it integrates seamlessly and performs as intended.

To learn more about SAP Solution Extensions by BlackLine, please visit SAP’s website or request a demo.