BlackLine offers cloud-based solutions for SAP®
software that enable fast time-to-value for businesses moving to
SAP S/4HANA® Cloud
LOS ANGELES, June 16, 2021 /CNW/ -- BlackLine, Inc.
(Nasdaq: BL) announced today that its market-leading cloud
solutions for financial close complement the RISE with SAP
offering, building on the company's success providing accounting
automation solutions to hundreds of businesses using SAP® (NYSE:
SAP) technology, including SAP S/4HANA® Cloud. The BlackLine
solutions, offered as SAP Solution Extensions, align with the value
proposition of RISE with SAP to help customers accelerate their
digital transformations to become intelligent enterprises.
BlackLine's cloud-based solutions are offered by SAP as the SAP
Account Substantiation and Automation application by BlackLine; the
premier edition of SAP Account Substantiation and Automation by
BlackLine; and the SAP Intercompany Financial Hub application by
BlackLine, and they complement functionality in SAP S/4HANA Cloud.
With payback periods averaging less than one year and ROI of
2.77x for every dollar invested (according to a recent Nucleus
Research study), BlackLine can help businesses using SAP solutions
to automate key financial processes, enhance internal controls and
free up resources to support digital transformation – enabling
quicker time-to-value and reduced risk for SAP S/4HANA Cloud
implementations.
BlackLine helps businesses streamline the financial close and
other critical accounting processes by providing automated
balance-sheet substantiation and intercompany
governance functionality within a controlled, end-to-end
solution.
"SAP offers solution extensions from BlackLine that complement
RISE with SAP and help bring added value to customers," said Martin
Naraschewski, senior vice president, global head of line of
business finance for SAP. "We look forward to our continued
partnership with BlackLine to help enable customers on their
journey towards digital transformation."
"Any digital transformation journey starts with process
transformation," said Mel Zeledon,
BlackLine's senior vice president of channels and alliances.
"With BlackLine solutions in their cloud portfolio as they
move to SAP S/4HANA Cloud, businesses can achieve financial close
process transformation – aligning with the value proposition of
RISE with SAP and enabling the office of the CFO to lead and drive
transformation."
Many of the world's leading companies have leveraged BlackLine
as an enabler on their journeys to implementing SAP S/4HANA, and
this will likely continue as many more move to SAP S/4HANA Cloud.
Here's what some are saying:
- "It only took us two years to implement SAP S/4HANA across 170
entities. That's pretty rapid. BlackLine definitely made the
project better and more manageable and efficient, helping us
improve our controls, not just for reconciliations but for the
whole close management process. And it served as a source of
confidence and continuity during a period of change."
– Doug Tramp, director of finance
systems and operational change at Zurich North America
- "As part of the global transition to SAP S/4HANA, Hershey
needed a trusted SAP partner that could help automate an efficient
mass global close. We were looking for process efficiency around
balance sheet control, preparation and reconciliation. Hershey
decided to implement five BlackLine products in a staged approach.
We also worked with BlackLine to establish connectors between SAP
and BlackLine. All interconnect seamlessly with each other and SAP
S/4HANA."
– John Zimmerman, director of
financial data systems at The Hershey Company
- "BlackLine was a key part of preparing for our transition to
SAP S/4HANA. We needed to improve the efficiency, accountability
and control of the balance-sheet account substantiating process and
reporting across the Liberty Group finance function. We also wanted
to ensure transparency, better governance and control across the
entire record-to-report process. We met our six-week BlackLine
implementation deadline. With BlackLine's solutions, we are assured
that all reconciled accounts are automatically coming into
BlackLine, and we can assign them in real time. Using BlackLine
alongside SAP, we've taken a significant step toward automation and
modernization."
– Lisa Bird, lead specialist for
internal financial control at pan-African financial services
company Liberty Group
Though hundreds of companies currently run BlackLine solutions
alongside SAP technology, the solutions are ERP agnostic and
integrate with more than 30 different leading source systems – an
added benefit for businesses using SAP solutions with multiple ERP
systems.
SAP recently honored BlackLine with the 2021 SAP Pinnacle Award
for Partner of the Year in the Solution Extensions category,
recognizing BlackLine for its "world-class solution extensions."
As a long-standing SAP platinum partner, BlackLine was one of
only 21 partners that received an SAP Pinnacle Award from among
more than 20,000 SAP partners worldwide.
Learn more online.
About BlackLine
Companies come to BlackLine (Nasdaq:
BL) because their traditional manual accounting processes are not
sustainable. BlackLine's cloud-based solutions and market-leading
customer service help companies move to modern accounting by
unifying their data and processes, automating repetitive work, and
driving accountability through visibility. BlackLine provides
solutions to manage and automate financial close, accounts
receivable and intercompany accounting processes, helping large
enterprises and midsize companies across all industries do
accounting work better, faster and with more control.
Nearly 3,500 customers trust BlackLine to help them close faster
with complete and accurate results. The company is the pioneer of
the cloud financial close market and recognized as the leader by
customers at leading end-user review sites including Gartner Peer
Insights, G2 and TrustRadius. Based in Los Angeles, BlackLine also has regional
headquarters in London,
Singapore and Sydney. For more information, please visit
blackline.com.
BlackLine Forward-Looking Statements
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "could," "expect,"
"plan," anticipate," "believe," "estimate," "predict," "intend,"
"potential," "would," "continue," "ongoing" or the negative of
these terms or other comparable terminology. Forward-looking
statements in this release include statements regarding our growth
plans and opportunities.
Any forward-looking statements contained in this press release
are based upon BlackLine's current plans, estimates, and
expectations and are not a representation that such plans,
estimates, or expectations will be achieved. Forward-looking
statements are based on information available at the time those
statements are made and/or management's good faith beliefs and
assumptions as of that time with respect to future events and are
subject to risks and uncertainties. If any of these risks or
uncertainties materialize or if any assumptions prove incorrect,
actual performance or results may differ materially from those
expressed in or suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to, risks
related to the Company's ability to execute on its strategies,
attract new customers, enter new geographies, and develop, release,
and sell new features and solutions; and other risks and
uncertainties described in the other filings we make with the
Securities and Exchange Commission from time to time, including the
risks described under the heading "Risk Factors" in our Annual
Report on Form 10-K. Additional information will also be set forth
in our Quarterly Reports on Form 10-Q.
Forward-looking statements should not be read as a guarantee of
future performance or results, and you should not place undue
reliance on such statements. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
SAP Forward-Looking Statement
Any statements in this
release that are not historical facts are forward-looking
statements as defined in the U.S. Private Securities Litigation
Reform Act of 1995. All forward-looking statements are subject to
various risks and uncertainties described in SAP's filings with the
U.S. Securities and Exchange Commission, including its most recent
annual report on Form 20-F, that could cause actual results to
differ materially from expectations. SAP cautions readers not to
place undue reliance on these forward-looking statements which SAP
has no obligation to update and which speak only as of their
dates.
SAP and other SAP products and services mentioned herein as well
as their respective logos are trademarks or registered trademarks
of SAP SE in Germany and other
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SOURCE BlackLine