This Software-as-a-Service Stock Makes Quarterly Accounting a Thing of the Past
Most people have month-end financial tasks to ensure their accounts are in order. Whether it's balancing the checkbook, paying bills, or figuring out how much was spent on groceries, understanding what goes on during the month is critical. Wouldn't it be nice if a program linked everything together and generated financial reports? BlackLine (NASDAQ: BL) provides software for businesses that accomplishes this task.
Undoubtedly, companies have more complicated finances than the average household. Every line that appears in a quarterly income statement, cash flow statement, or balance sheet is the product of multiple inputs across various teams. Enterprise resource planning (ERP) systems are crucial in every business to handle activities like supply chain management or accounting. Many large companies incorporate different ERP systems across segments to manage operations efficiently.
But what isn't efficient is combining all ERP outputs to create coherent data that goes into quarterly reports. BlackLine is integrated with more than 30 ERP providers like Oracle, Workday, and SAP. The invaluable information taken from ERP systems contributes to quarterly reports.
Source Fool.com
