Good tool for account reconciliation in a GBS center
We started using it to replace our old client-server based software to support the month-end GL reconciliation process for various entities in our global company.
Due to the cloud technology it is available from anywhere. It could be really useful if you should manage GL reconciliation for many entities with different ERPs (it was our case) Easy to use interfaces, very good support. Can support the internal or external audit procedure and can reduce its cost. Auto-certification is sophisticated with several customization possibilities.
The implementation was a bit longer than expected (it was also because of our internal resources). With our current setup line level info cannot be loaded, so Excel sheets - as attachments - are remained after go live.
Once you have it, you won't want to be without it
I don't have a single bad thing to say about this software. The company I work for now doesn't have it, and I really wish we did. I miss it every day!
It is a great month end tool. Nothing better in my opinion.
For corporations looking to get a better understanding of your account balances - this was wonderful. Asking and waiting for information was a thing of the past, when all you had to do is log in and pull up an account to see it's balance and supporting detail.
I LOVE this software. As an accountant, there is no better tool at month end to get your accounts reconciled.
Account Reconciliation becomes a breeze, and It makes those dreaded audits not so horrible. Everything is neatly tucked into a software, where the auditors can be set free (in their own approved audit login of course). From Account reconciliation, to matching, and bank reconciliation...I loved this software the more I used it. I even tried to find an open position to work for them!
When you get started, its like anything, you learn how it all works. In the beginning the only con for me was the level of help (this was back when this software started). But now there are so many online tools to help you with any questions you may have. And their customer service is great and helpful. Super easy to submit a ticket for an issue, and response time was great.
Much to improve
Blackline Integration with Data Management Software such as SAP
Since SAP has been integrated with BlackLine, reconciliations every day+5 of the month end processes are a lot easier. Variances and discrepancies are easily dealt with. Blackline has only been limited to its functions as well as the real-time processing of data.
It is a web-based application for performing account balances reconciliation which can be easily integrated with other financial software such as SAP.
The software is limited to reconciliations and intercompany transactions wherein the vast majority of software are investing on in-memory capacity and cloud for more flexible transactions.
Great tool for balance sheet recs!
Recommend to accounting departments going paperless
I like how easy it is to see unidentified balances for each account from the main page, giving you a screenshot of where to spend your time. I used it mostly for insurance amortizations, and the schedules make it easy to do once entered, and the balances closes on the day indicated.
Not a big deal but small functional things such as having to save a schedule and then clicking cancel in order to exit out. It's not intuitive to click on cancel if you want to exit after making a change.
Awesome software direct and to the point
At a glance, all the gl account balance is there. You can also upload the report from SAP into blackline so that reconciliation can be done easier. And the approval can just easily approve the ledger at least me go. Allows you to store excel sheet inside so that approval can review it easily.
It might get be better if the blackline team is able to get back shortly after we upload the ledger balance maybe within an hour or so. This will surely reduce the time we need to take to complete the reconciliation within the timeframe.
Records for Closing All In One Place
Having all the financial and accounting work/evidence kept at one place for auditing
The audit trail functionality that is system certified and option to allow auditors to review closing activities like monthly bank reconciliation, monthly payroll registers, monthly meeting minutes, etc.
The useful interface's design isn't as fluid as one would like but you get use to it after a using it as your day to day work.
Has some good functionality but implementation is harder than expected
Great place to centralize reconciliations and journalling etc as opposed to spreadsheets and google docs
Connectivity with ERP, in our case Netsuite, is a lot more complicated than how it is sold with a loyt of additional development and expense required
Great Product with a lot of features
Great product overall with a lot of features and available room for customization. Offers great workflow management on top of the automation features.
No cons to mention. Not sure how many other products are out there that offer the same type of financial solution that Blackline offers, but Blackline is a solid product.
Good Reconciliation software
I was an admin that implemented this reconciliation software at a previous company to prepare reconciliations. It really helped organize our closing process. Highly recommend.
Great way to organize monthly reconciliations
There is a learning curve, like everything.