Online balance sheet reconciliation comes to UK

Californian balance sheet reconciliation cloud software specialist BlackLine Systems is expanding into Europe from a new base in London.

BlackLine founder and CEO Therese Tucker visited the UK in December to open up the new operation and to explain to the natives why they should consider the company’s web-based balance sheet reconciliation system.

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Comments

We've got something similar ourselves

GSPANESER | | Permalink

As an organisation we implemented something similar last year; AssureNet (by Trintech).

The methodology is the same, i.e. the idea being to create reconciliations which;

-are standardised across the business (and therefore easier to review as well as prepare),

-reconciled to true ledger entries by way of direct links to ERP system data and attachments(Oracle in our case)

-reduces the use of paper

-works efficiently is the case of multinational operations, overseas shared service centres, etc.

-makes the auditors happy!

 

The idea of Assurenet is fine, but the execution leaves something to be desired. By this I mean that the operations are somewhat clunky and slow, and work has been known to be lost by system time-out issues. I'm not sure what the cost per user is, but I'm sure it's not cheap.

 

Be interested to hear of others experiences of either Assurenet or Blackline.

carnmores's picture

i am slightly surprised by the need for this

carnmores | | Permalink

but may be missing a trick or two, surely companies with good internal controls etc should be all over this in the first place?

Really Ms Tucker?

chatman | | Permalink

“Until Sarbanes-Oxley came along, nobody focused on reconciliation.”

Maybe she didn't, but accountants did. Rather weakens your faith in a person when they present a fundamental principal as a revelation.