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Building a modern Finance Organization: KPMG and Blackline Form Alliance
LOS ANGELES, November 15, 2017 – KPMG LLP and BlackLine, Inc. (Nasdaq: BL), a leading provider of financial automation software solutions, today announced at IntheBlack 2017 an alliance to empower finance and accounting (F&A) teams to deliver real-time financial intelligence to executives and add strategic value to the enterprise.
The combination of BlackLine’s cloud platform for automation and analytics with KPMG’s finance process enablement and automation vision will provide clients with financial solutions that can be implemented into their business processes to help improve staffefficiencies, shift focus from transactional to analytical, and align finance strategies with those of the business.
“With intensifying global business model disruption, a rapidly changing regulatory landscape, the growing complexity of financial processes, and increased demand for clear and actionable financial reporting, F&A must respond with using technology as a basis to move forward the finance of the future,” said Ralph Canter, KPMG’s Managing Director of Advisory.
Canter adds that as digital transformation becomes a heightened priority, KPMG and BlackLine can support an automation of finance roadmap that will ultimately achieve a move of finance professionals out of transaction processing and into more valuable operational and strategic decision support.
As a leader in providing finance governance, compliance, controls and services, KPMG helps clients improve end-to-end financial reporting processes by enhancing real-time visibility, simplifying workflow, and reducing the time required to execute external and managerial reporting. KPMG has deep experience with financial close and reporting processes enabling technologies and can help companies standardize on leading practices.
While enterprise resource planning (ERP) and business intelligence (BI) systems collect, track and analyze business data, they do not automate many critical F&A processes. BlackLine’splatform, which integrates with more than 40 ERP systems, replaces manual spreadsheet-based processes, streamlining accounting workflows and enabling accuracy and compliance auditability. The suite of applications supports account reconciliation, journal entry, task management, consolidation integrity management, intercompany management, transaction matching, and variance analysis.
“We’ve completed many successful projects with KPMG over the years where their in-depth knowledge and hands-on advisory services have helped us meet the requirements of global customers,” said Therese Tucker, CEO of BlackLine. “KPMG has been a terrific partner in that they have been very vocal about the potential they see for BlackLine, as well as the direction they think we should take to get there. They see the broader vision of what BlackLine can do to transform Finance & Accounting organizations.”
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the independent U.S. member firm of KPMG International Cooperative (“KPMGInternational”). KPMG International’s independent member firms have 189,000 professionals, including more than 9,000 partners, in 152 countries. Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates. Follow us: Twitter: @KPMGUS_News and LinkedIn: KPMG US.
BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralizing and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize organizations. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, BlackLine helps companies modernize accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.
More than 2,000 companies with users in over 130 countries around the world trust BlackLine. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.