How BlackLine Leads the way for Record-to-Report Processes

⇨ As organisations search for ways to maximise and optimise their essential financial functions, one of the major stumbling blocks is a lack of visibility.

⇨ BlackLine helps organisations overcome the record-to-report issues with a cloud-first, digital solution that can integrate seamlessly with SAP.

⇨ By offering a record-to-report solution with these capabilities, companies can achieve faster time to value while also ensuring they are compliant with all applicable regulations.

As organisations search for ways to maximise and optimise their essential financial functions, one of the major stumbling blocks is a lack of visibility. SAPinsider’s recent SAP S/4HANA Finance and Central Finance: State of the Market 2024 Benchmark Research Report found that the demand for improved reporting, planning and insights from finance was the top driver affecting SAP organisations’ finance strategies, as it was highlighted by 42% of survey respondents.

Businesses need a window into important processes like the record-to-report cycle. This provides executives and decision-makers with important real-time data points that allow them to steer the company more effectively.

Leading Record-to-Report

Companies are constantly searching for the best options for bolstering visibility and leveraging real-time data. But with the litany of options available, it can be difficult to know which company can best deliver these insights in an SAP environment.

Recently, third-party assessor IDC MarketScape named BlackLine a Leader in its Worldwide Office of the CFO Record to Report 2024 Vendor Assessment. The report evaluated how different vendors are able to support the Record-to-Report process based on buyer perception and end-user feedback.

“BlackLine’s platform offers robust technical capabilities, including real-time data integration, automated workflow management, and advanced analytics. BlackLine’s solutions support key accounting functions such as account reconciliations, journal entry management, consolidation, variance analysis, intercompany transactions, and task management. These capabilities help organisations enhance accuracy, efficiency, and compliance in their financial operations by eliminating manual processes and reducing errors,” according to the IDC MarketScape.

Meeting the Market

SAP organisations are beginning to realise that they can no longer afford to rely on outdated, manual processes to support essential business workflows. When Record-to-Report processes are still siloed or data is kept in different formats, organisations can struggle to keep pace.

This not only slows down important workflows but can pose a significant risk to compliance efforts. Companies that do not have accurate data risk running afoul of various regulatory requirements at the state and federal level. Furthermore, stagnant record-to-report processes make it difficult for decision-makers to access accurate real-time data.

BlackLine helps organisations overcome the record-to-report issues with a cloud-first, digital solution that can integrate seamlessly with SAP. The solution also offers users advanced data collection and AI functionality for risk mitigation.

BlackLine helps organisations operate as truly intelligent enterprises, streamlining consolidation functions and providing finance teams with the advanced analytics they need to keep pace with modern requirements.

By offering a record-to-report solution with these capabilities, companies can achieve faster time to value while also ensuring they are compliant with all applicable regulations.