Host Analytics, a leading provider of connected financial planning and close solutions has confirmed the release of a new solution system in coordination with Blackline, a supplier of automated financial close software, enhancing and automating the end to end financial consolidation and reporting processes for many businesses.
The partnership will enable finance and accounting teams to improve and simplify the period-end close by eradicating manual, time-consuming jobs from the entire process. Over 70 clients are already utilising the features of Host Analytics and BlackLine solutions, automating close and consolidation processes and at the same time enhancing the organisational and overall focus of finance and accounting teams. The innovative solution is generating quicker results, reducing overall compliance costs and providing businesses with more awareness of their close and consolidation activities. Furthermore, finance and accounting teams are provided with more valuable data, giving teams confidence in using data for the close process and the overall quality of financial deliverables.
Ron Baden, the CEO of Host Analytics explains that companies are actively seeking ways to transform Finance and remove any potential inaccuracies in inefficient systems. According to Baden, integrating Host Analytics and Blackline solutions provides the finance industry with an alternative to the conventional time consuming manual and inefficient close processes. Baden states how excited they are to offer this solution for the finance industry and allow finance teams to focus more on strategic opportunities for development.
Host Analytics is a global leader in financial planning and close solutions and was recently named a leader in the 2018 Gartner Magic Quadrant for Cloud Financial Planning and Close Solutions for the second time in a row. BlackLine is a market leader in automation and streamlining financial close processes and other important financial accounting processes for medium and large businesses. BlackLine was also recognised by Gartner as a leader in 2018 for Cloud Financial Close Solutions and an innovative leader in the cloud market for financial control and automation.
Michael Otto, the VP of Global Strategic Alliances explains that traditionally, accounting teams have been forced to choose between disconnected solutions or settle for a lesser alternative solution to control their financial close operations. Otto highlights that by offering a pre-integrated solution between BlackLine and Host Analytics, it will provide accounting teams with the potential to reduce their reliance on common errors found on spreadsheets and utilise automated processes to improve financial close.
The combination of BlackLine and Host Analytics offers a seamless connection between solutions that enhance and automate end-to-end financial consolidation, reporting and close. Customers can simply compare financial data, enabling teams to confirm the validity of consolidated account balances and perform a quicker and more effective financial close. This provides finance with a more effective date and greater confidence in data sets and improved trust in consolidated financial results.