Get a grip on your close and see why or who is making it go slow
November 23, 2020

Get a grip on your close and see why or who is making it go slow

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with BlackLine

My company has implemented the financial transformation suite. We use Account Reconciliations, Tasks, Variance and are in the process of implementing transaction matching. Implementing BlackLine has enabled me as a manager to gain visibility into the close process at any point. Previously I would have to open 80+ Excel workbooks and reference back to a manual checklist to understand where we were. Now it takes 10 seconds to log into BlackLine.

Pros

  • Visibility into the close process
  • Automation of account reconciliations
  • Increased accountability for reconciliation preparers
  • Increased controls surrounding preparer, reviewers and approvers

Cons

  • The software is pretty structured which helps with controls, but can make customizations more challenging
  • Accelerated close
  • Created visibility into close process
  • Eliminated redundant monthly roll forward work

Do you think BlackLine delivers good value for the price?

Yes

Are you happy with BlackLine's feature set?

Yes

Did BlackLine live up to sales and marketing promises?

Yes

Did implementation of BlackLine go as expected?

Yes

Would you buy BlackLine again?

Yes

Though BlackLine is a superb tool that can drive efficiencies and create controls and eliminate redundant work it is fairly rigid and is somewhat difficult to customize.
When needed they are there. In 3 years we haven't needed much with regards to support after our implementation. That being said I feel scheduled consulting and personal reach outs would go a long way to helping support customers as new features and opportunities are pushed out.
I would recommend the financial transformation suite by BlackLine for anyone managing a financial close. The ability to know what is done (journal entries, variance analysis, reconciliations, reviews, etc.) and what is not can be quickly seen on the home page. By properly setting up reconciliations for things like prepaids, fixed assets, deferrals, etc. you can eliminate the need to update roll-forward schedules every month.

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