Overall Satisfaction with BlackLine
We used to do all our reconciliations in Excel and it was up to the preparer to continuously update GL balances throughout the close process. We introduced Blackline and have an integration with our ERP NetSuite in which GL balances import multiple times a day based on a schedule we selected. We now have one place for both preparers and approvers to do their month end reconciliation work. We also use the tasks functionality which has helped tremendously in our SOX compliance of processes.
- Integration with NetSuite of GL Balances.
- Organization across the team for month end close reconciliations.
- Organization of tasks related to SOX compliance.
- Switching between reporting and local currencies is a bit tricky.
- Have to remember to configure Blackline when new subsidiaries are added to NetSuite otherwise the integration will fail, even if there is no activity in the subsidiary.
- No visibility into seeing all accounts, preparers and approvers in one screen.
- Positive impact only from the product, it has increased accuracy and efficiency on all levels.
- Allowed for easy integration of SOX compliance needs.
- Allows for streamlined access to our reconciliations for outside audit teams, also increasing that efficiency in turn saving on our audit costs.
I have not used or evaluated other reconciliation tools, we used Excel prior to the implementation.