BlackLine Releases Oracle ERP Connector

New connector designed to accelerate implementation of BlackLine's leading financial automation platform for Oracle E-Business Suite customers

News provided by

BlackLine

Oct 30, 2018, 08:58 ET

LOS ANGELES, Oct. 30, 2018 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL), a leading provider of financial automation solutions that enable Continuous Accounting, has released a connector for Oracle E-Business Suite designed to accelerate implementation of BlackLine's flagship cloud platform and enable new customers to see a faster time-to-value. The new connector is available now to customers running E-Business Suite R12.

The BlackLine Connector for Oracle is designed to automatically integrate Oracle E-Business Suite financial data into BlackLine's cloud financial close solution. BlackLine's newest connector supports a wide range of Oracle data, such as GL balances, subledgers, GL transactional data and currency rates, enabling users to easily pull data by ledger, company, account, cost center and other segment types into BlackLine for account balance and/or transactional reconciliation.

For customers with multiple instances and versions of E-Business Suite throughout the enterprise, the BlackLine Connector is expected to integrate with each instance, centralizing the close and making it easier to manage closings across multiple Oracle ERP systems.

"We designed the new connector to enable Oracle E-Business Suite customers to quickly integrate their ERP data into our financial close automation solution," said Mario Spanicciati, chief strategy officer, BlackLine. "We expect this to simplify and shorten customer implementations and reduce their time to benefit from our solutions, which we anticipate will minimize both risk and costs."

Hundreds of organizations currently run on Oracle E-Business Suite and close with BlackLine. In a recent ROI study, Nucleus Research found that leading audio entertainment company SiriusXM, which runs BlackLine alongside Oracle, achieved 99.9 percent accuracy in their matching automation process across more than seven million transactions and was able to automate 50 percent of their journal entries.

BlackLine is ERP-agnostic, integrating with more than 30 different leading source systems, allowing BlackLine's rules automation engines and analytics to be applied to a wide variety of finance and accounting operational processes.

"Our customers manage millions of account balances and transactions with BlackLine daily," added Mr. Spanicciati. "It's important that our connectors ensure secure, seamless transmission of data and can perform for a wide variety of ERP volumes and configurations. The addition of an Oracle E-Business Suite connector to our existing connectors aligns with our strategy of providing highly integrated and automated solutions for customers running many ERP systems."

About BlackLine
BlackLine is a leading 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. The company is recognized by Gartner as a Leader in its 2018 Magic Quadrant for Cloud Financial Close Solutions and as a pioneer in the cloud market for enhanced financial control and automation.

Designed to complement virtually all ERP and other financial systems including SAP, Oracle and NetSuite, BlackLine increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation from within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities, BlackLine helps companies modernize accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.

More than 2,400 companies with users around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.

Forward-looking Statements:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans and opportunities.

Any forward-looking statements contained in this press release are based upon BlackLine's current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company's ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission on March 8, 2018. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2018.

Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE BlackLine