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.
Therese Tucker, founder and co-CEO, BlackLine.
“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 recognisable 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.
Mike Polaha, BlackLine’s global managing director of financial close 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.
