BlackLine: Streamlining Accounting Processes via Finance Controls and Automation Solutions

Therese Tucker, CEO & Chairman

The ERP solutions provided by Oracle for catering to the Accounts and Finance domain of a company are often regarded as incompetent because of their inherent incapability to bring forth a facilitation element. Moreover, the implementation of these solutions generally incurs a slew of the customer’s money, and time, which has made them unreliable and unappealing tools. The next option in the hands of people to manage their company’s accounting processes is Excel, which again is subjected with lack of transparency, visibility, and accuracy, and also consumes a profusion of effort and time. These deficiencies of ideal tools that have failed to incept reconciliation between accounting and finance has opened up a new market, which is solely dominated by the eminent BlackLine , the leading provider of Finance Controls and Automation software, known for exponential proficiency in enhancing efficiency, visibility and control over the financial close. BlackLine’s Software-as-a-Service (SaaS) solution has enabled its clients to replace manual and labor-oriented processes in the two aforementioned spaces with an easy-to-implement, use and maintain application.

The company was founded in 2001 by Therese Tucker, CEO and founder of BlackLine, a Stevie American Business Award winner for Software Executive of the Year, 2011.Under her leadership,BlackLine, headquartered in Los Angeles, has seen a 50 percent annual growth rate on a consistent basis and has been recognized as one of the most innovative and promising tech ventures in the world by Red Herring as a Global 100 Winner. BlackLine is a Gold member in Oracle’ PartnerNetwork, and with its enterprise software, the company is aiding numerous Fortune 1000 companies in streamlining their financial infrastructure.

Substance of BlackLine Automation

Since the notion of conversion of manual process to automation was incepted, various companies have leveraged the advantages that have come along to increase their ROIs and total throughput.

Bringing precision to the processing of financial data, Account Reconciliation tools enable accountants to assess and validate account balances across balance sheets by bidirectional comparison of data in two systems or locations, such as an ERP system and a bank statement, investigating discrepancies, and making required corrections. In addition to delivering other benefits, a main amenity is to set free the employees under the accounts management from the traditional manual processes, allowing them to focus on other more important strategic and analytical tasks.

BlackLine’s SaaS solution has enabled its clients to replace manual and labor-oriented processes in the two afore mentioned spaces with an easy-to-implement, use and maintain application

Over its years of operation, BlackLine has incorporated nearly 900 companies around the world into its clientele from diverse verticals, including Oracle users Concur Technologies, Cox Communications and McGraw Hill Financial. “We have worked really hard to make our customers happy and pass real value to them from our products and services,” Therese explains in brief, the rationale behind the company’s success.

In the coming years, BlackLine hopes to initiate an IPO process that would be a huge milestone for the company. Apart from this, the Finance Controls and Automation leader intends to keep up its growth curve as steep as possible.

Company
BlackLine

Headquarters
Los Angeles, CA

Management
Therese Tucker, CEO & Chairman

Description
A provider of completely integrated cloud platform that supports the entire record-to-report process, as well as a host of other key accounting and financial processes