LOS ANGELES and LONDON, Nov. 4, 2013 /PRNewswire/ -- The BlackLine Financial Close Suite for SAP® Solutions, from enterprise-class financial software company BlackLine Systems, has become an SAP-endorsed business solution. By achieving this status, the BlackLine Financial Close Suite joins the ranks of fewer than 40 solutions that have been endorsed by enterprise application software leader SAP AG (NYSE:SAP).
By automating traditionally manual accounting processes such as the often spreadsheet-driven account reconciliation process, BlackLine's flagship SaaS (Software-as-a-Service) offering is designed to help finance, accounting, audit and compliance managers in mid- to large-sized organizations and across all industries optimize their financial close process. The solution covers important business requirements and adds value for users of SAP solutions.
Solutions endorsed by SAP AG are complementary to SAP software offerings, have been specifically integrated with SAP solutions and tested by SAP, and provide additional choices and flexibility for businesses running SAP applications. SAP-endorsed business solutions are offered by SAP partners."SAP's endorsement further validates what BlackLine sees as a massive demand for solutions to help automate processes for corporate finance and accounting departments, and we anticipate it will open the door to additional world-class organizations that can benefit from our solutions," said Mario Spanicciati, executive vice president of Operations and executive director of EMEA for BlackLine Systems. "We're focused on helping the office of the CFO achieve greater ROI from their finance and accounting functions globally. We expect to continue to work closely with SAP so that future generations of our solutions are closely aligned and deliver even greater results." Clients already using the BlackLine Financial Close Suite alongside solutions from SAP include worldwide e-commerce leader eBay, defense industry giant Northrop Grumman, global aluminum manufacturing leader Novelis and global insurance industry giant Zurich, among many others. "Using BlackLine software alongside SAP applications has greatly increased the visibility, efficiency and accuracy surrounding our account reconciliation process. We now have a completely electronic and paperless process for how we review reconciliations," Laura Darbro, Zurich's vice president of Close Operations and General Accounting, said. "In the approval process, all the data is sourced and available within the BlackLine tool. BlackLine has increased visibility, improved levels of monitoring and reporting on the reconciliation status across all the areas within finance, and created complete audit trails and controls around those account reconciliations, as well." The Finance team at Novelis has instant visibility globally into the status of the reconciliation process for all of the company's balance sheet accounts.