Powered by generative AI, Journals Risk
Analyser empowers Finance and Accounting leaders with anomaly
detection and powerful insights and trends to streamline audits and
improve risk management & compliance
LOS
ANGELES, April 11, 2024 /PRNewswire/ -- Digital
finance transformation leader BlackLine, Inc. (Nasdaq:
BL) continues to build upon its long history of pioneering new
markets and developing innovative solutions with the introduction
of Journals Risk Analyser – adding AI-powered capabilities to the
company's market-leading solutions for the Office of the CFO.
Developed in partnership with customers, Journals Risk Analyser
uses generative AI to provide key trends, insights, and anomaly
detection associated with journal entries, empowering Finance and
Accounting leaders to ensure compliance with company policies while
simultaneously making audits more efficient and less
challenging.
BlackLine's Journals Risk Analyser captures, understands, and
evaluates companies' journal entries across multiple ERPs and
systems and offers dynamic, user-friendly dashboards that provide
one-click access to important metrics. The powerful functionality
enables new and actionable visibility into companies' journal
entries and process and allows for dynamic KPI trending.
AI-generated insights can flag potential areas of
fraud and compliance risk, and highlight potential
areas for improvement.
"Our customers have ever-increasing volumes of journal entry
postings," said Therese Tucker,
founder and co-CEO, BlackLine. "Artificial intelligence is ideal
for identifying anomalies and patterns within very large data sets
that are not easily recognizable with human scrutiny. The future of
what AI can deliver to our customers is exciting, enabling them to
make confident, informed decisions based on fast and accurate
insights."
BlackLine's Journals Risk Analyser can be implemented rapidly
and is compatible with any ERP. The move is part of BlackLine's
strategy to embed AI across its entire platform of financial close,
intercompany accounting, invoice-to-cash, and consolidation
solutions.
"The Journals Risk Analyser is a terrific example
of BlackLine's commitment to delivering solutions that provide
real value to customers and is an excellent addition to BlackLine's
differentiated Journal Entry solution," said Mike Polaha, BlackLine's global managing
director of financial close solutions. "As a former finance
executive and customer of BlackLine, I can attest to the
exceptional value these new AI-enabled capabilities can
provide."
BlackLine's Journals Risk Analyser is expected to be generally
available in the third quarter of 2024. BlackLine is currently
offering early adoption. Interested customers and prospective
customers should email InquiryJRA@blackline.com for more
information.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional
manual accounting and finance processes are not sustainable.
BlackLine's market-leading cloud platform and 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, intercompany accounting, invoice-to-cash,
and consolidation processes – inspiring, powering, and guiding
large enterprises and midsize businesses on their digital finance
transformation journeys.
Nearly 4,400 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 is recognized as the leader by
customers at leading end-user review sites including G2 and
TrustRadius. BlackLine is a global company with operations in major
business centers including Los
Angeles, New York, the San
Francisco Bay area, London,
Paris, Frankfurt, Tokyo, Sydney, Bangalore, and Singapore. For more information, visit
blackline.com.
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actual performance or results may differ materially from those
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related to the Company's ability to execute on its strategies,
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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.
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SOURCE BlackLine
