PERFORM 2019 “ Host Analytics, the leading provider of connected financial planning and close solutions, today announced a new solution integration with BlackLine, Inc. (Nasdaq: BL), a leading financial close automation software company, to accelerate and automate the end-to-end financial close, consolidation, and reporting process for large and midsized enterprises. This integration enables finance and accounting teams to modernize and simplify the period-end close by eliminating slow, manual efforts from the process.
More than 70 customers are already enjoying the benefits of both Host Analytics and BlackLine solutions to automate critical close and consolidation activities while keeping even the most complex finance and accounting teams organized, aligned, and focused on key objectives and deadlines. This best-of-breed close solution results in faster close times, reduced compliance costs, and more control over and visibility into close and consolidation activities. It also gives finance and accounting more confidence in the data used in the close process and the resulting quality of financial deliverables.
Organizations are looking to the transformation of finance to squeeze every inefficiency and inaccuracy out of financial processes, said Ron Baden, CEO, Host Analytics. By integrating the Host Analytics and BlackLine solutions, were giving finance a way to escape the burden of manual, error-prone, and inefficient close processes. Were excited to offer this unbeatable combination so finance can focus on strategic opportunities for growth.
Host Analytics is a recognized market leader in financial planning and close solutions and Enterprise Performance Management, which was reinforced by recent accolades from Constellation Research, Nucleus Research, and Gartner, which named Host Analytics a leader in the 2018 Gartner Magic Quadrant for both Cloud Financial Planning and Analysis Solutions and Cloud Financial Close Solutions for the second year in a row. BlackLine is a recognized market leader in automating, centralizing, and streamlining financial close operations, intercompany accounting processes, and other key finance accounting processes for large and midsized enterprises. 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.
Historically, accounting departments have had to choose between disconnected best-of-breed solutions or settle for less comprehensive solution suites to manage their financial close, said Michael Otto, VP of Global Strategic Alliances, BlackLine. By offering a pre-integrated best-of-breed solution between BlackLine and Host Analytics, we are giving accounting teams the ability to further reduce their reliance on error-prone spreadsheets and leverage automated and unified processes to streamline their financial close.
The integration between BlackLine and Host Analytics, which is now available, provides seamless connectivity between the solutions to enhance and automate the end-to-end financial close, consolidation, and reporting process. Customers are able to easily compare their reconciled GL trial balance against their consolidated trial balance, enabling finance and accounting to validate the integrity of consolidated account balances and execute a faster, error-free financial close. This gives finance higher quality data, more confidence in the numbers, and greater trust in consolidated financial results. Host Analytics and BlackLine share a robust implementation partner ecosystem including Riveron, RSM , UHY Advisors, Vaco and WG Consulting.
About Host Analytics
Host Analytics is the leading provider of cloud-based connected financial planning and close solutions. Built with financial expertise and a dedication to customer success, Host Analytics meets the needs of finance and accounting teams and helps them to evolve as business conditions change. More than 800 customers including Bose, Boston Red Sox, Evernote, Overstock.com, Peets Coffee & Tea, Pinterest, and Zillow rely on Host Analytics for planning, budgeting, modeling, consolidations and reporting. Host Analytics is a private company backed by Vector Capital, a leading global private equity firm specializing in transformational investments in established technology businesses.
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