BlackLine has launched a new cloud-based solution designed to help companies automate and streamline a wide range of core accounting and financial processes.

The Finance Controls and Automation Platform automates a number of processes through a tightly integrated package of six solutions that users can add as they need them: BlackLine Account Reconciliations, BlackLine Transaction Matching, BlackLine Task Management, BlackLine Journal Entry, BlackLine Variance Analysis and BlackLine Consolidation Integrity Manager.

The core of the platform is a cloud-based infrastructure that serves as a secure foundation for a company’s centralized business rules, workflow, analytics, security, reporting and dashboards, document management and data integration. The platform integrates with all ERP systems, the company said, and is complemented by its other solutions, including its flagship Financial Close Management.

“BlackLine’s new Finance Controls and Automation Platform is predicated on our unique concept of ‘Modern Finance,’ a new approach to financial automation designed to help accountants and finance professionals work smarter and more efficiently,” said  BlackLine CEO Therese Tucker.  “Many of the world’s best-run organizations are experiencing first-hand the efficiencies and risk reduction benefits of automating key accounting and finance processes.   In these companies, the ‘Modern Finance’ movement is fast becoming a competitive differentiator, leveraging the horsepower of advanced cloud, automated analytics, risk mitigation and deep reporting technologies to liberate accountants from the rote, repetitive labors inherent in their work, while enabling the CFO to execute on the enterprise performance agenda.”

The company also announced the BlackLine Intercompany Hub, a cloud-based solution to automate and manage intercompany transaction accounting, reconciliation and settlement.  It serves as a clearinghouse for intercompany transactions, supporting a single process for reconciling, netting and settling intercompany transactions in real time.

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