Blackline Introduces Verity AI for Financial Automation
Blackline has launched Verity AI, a suite of advanced artificial intelligence tools built on its studio360 platform. This innovative solution is designed to empower finance leaders by automating various tasks, providing predictive insights, and effectively managing a digital workforce.
Meeting the Needs of Financial Officers
Developed specifically for the Office of the Financial Officer, Verity AI integrates essential elements such as governance, transparency, and auditability into its processes. The platform automates complex financial tasks, offers predictive analysis, and employs AI-driven agents, overseen by the manager, Vera. Blackline’s expertise in financial process management, combined with its partnership with Google Cloud’s Gemini models, ensures robust data integrity and security.
Aiming for Governance and Auditability
According to Blackline, Verity AI is built on three fundamental pillars: a control layer for auditability and governance, a unified platform for data management, and two decades of process knowledge. The AI capabilities are designed to handle common financial tasks—from record-to-report functions to invoice billing workflows. This systematic approach guarantees that all results are traceable and that financial data adheres to business standards regarding auditability and risk management.
Insights from Blackline’s Leadership
“Many are asking how generative AI will impact commercial software. Our response is clear: its power is unlocked only when built on a foundation of integrity and trust in data. What truly sets Blackline apart is our unwavering commitment to these principles, positioning us to enhance confidence in the CFO’s office.” – Owen Ryan, Co-PDG and Chairman of Blackline
Empowering Financial Data Management
Verity’s unified data layer, powered by Snowflake, offers a single source of truth for financial data, instilling confidence in the automation processes and their outcomes. The product merges Blackline’s extensive financial expertise with cutting-edge artificial intelligence to support decision-making, reconciliations, and reporting for its 4,400 existing clients.
Digital Workforce Management with Vera
Vera, the orchestrator of Verity, plays a crucial role as the main concept of the AI team. Vera allows finance and accounting professionals to interact seamlessly with their digital workforce, assigning tasks and reviewing automated outputs. This setup ensures full control over operations, monitoring, and auditing capabilities as AI-driven agents carry out their designated tasks.
Future Directions and Collaborations
“Blackline’s differentiation lies in providing the essential application and control layer that makes our services trustworthy and indispensable for businesses. Our vision is to empower financial operations driven by agents that go beyond mere automation, allowing clients to anticipate, decide, and act swiftly.” – Jeremy Ung, Technology Director at Blackline
The collaboration with Google Cloud enhances Verity’s generative AI capabilities through the Gemini models on the Blackline platform. By leveraging this partnership, financial professionals gain effective tools for efficient book closing and extracting strategic insights from financial data.
“We are excited to collaborate with Blackline to accelerate innovation with Google Cloud’s generative AI. By integrating our AI capabilities into the Blackline platform, we empower our mutual customers to close their books faster and uncover valuable insights within their financial data.” – Rodrigo Rocha, Managing Director at Google Cloud
Building Trust in Automated Finance
Blackline emphasizes its approach to Confidence AI as a means to foster collaboration between human professionals and digital agents, all supported by robust data governance and audit controls. This strategic focus aims to enable financial teams to manage operations with actionable insights while maintaining control over their automated workforce.