SOURCE: StoneRiver, Inc.

StoneRiver, Inc.

October 20, 2016 09:00 ET

StoneRiver Joins BlackLine Global Channel Partner Program to Deliver Industry-Leading Financial Controls and Automation Software Solutions

Alliance to Help Mid-size and Large Companies Transform Their Finance & Accounting Operations into True Modern Finance Organizations

DENVER, CO--(Marketwired - October 20, 2016) - StoneRiver, Inc., a trusted insurance technology partner with solutions across multiple business lines, has announced it is joining BlackLine's global Channel Partner Program to meet increasing demand from its customers for finance controls and automation software solutions. The alliance is designed to help insurance companies transform their existing Finance & Accounting departments into true Modern Finance organizations, with StoneRiver adding BlackLine's cloud-based Finance Controls & Automation Platform to the Financial & Compliance product portfolio StoneRiver offers current and prospective customers.

With intensifying competitive pressures, a changing regulatory landscape, the growing complexity of financial processes, and heightened demand for clear visibility into balance sheet data, Finance & Accounting must reconcile an increasing amount of data. While enterprise resource planning and business intelligence systems collect, track and analyze business data, they do not automate account reconciliations and other critical F&A processes.

StoneRiver Vice President Julie Kramer said, "BlackLine's Modern Finance Platform arms StoneRiver with a solution to offer clients that replaces manual spreadsheet-based processes and helps improve data accuracy, visibility and control."

BlackLine is being used globally by staff in accounting, finance and compliance departments in some of the world's largest organizations. Joint customers already enjoying the benefits of the StoneRiver/BlackLine alliance include Mutual Insurance Company of Arizona and Louisiana Workers' Compensation Corporation. "We immediately shortened our monthly close by three days after implementing BlackLine," said Becky Pickering, Financial Reporting & Systems Analyst at Mutual Insurance Company of Arizona Finance & Accounting.

A joint StoneRiver/BlackLine webinar for StoneRiver PRO and PTE clients will be held November 9 at 2:00pm ET |1:00pm CT. The webinar will include a high-level discussion as well as demonstrations of some modules.

"BlackLine Channel Partners, such as StoneRiver, are experts in their fields who offer strategic guidance, deep technical skills and relevant expertise that extends our reach significantly and enables a much more rapid deployment of the BlackLine solution globally," said Chris Murphy, BlackLine's chief revenue officer. "By adding BlackLine to their product portfolios, StoneRiver can provide their customers with a solution that we believe will deliver visible ROI, while also providing the partners themselves with margins and incentives to help grow their business. We look forward to a very collaborative go-to-market approach with StoneRiver."

About BlackLine
BlackLine is a provider of cloud-based solutions for Finance & Accounting (F&A) that centralize and streamline financial close operations and other key F&A processes for midsize and large organizations. Designed to complement ERP and other financial systems, the BlackLine Finance Controls & Automation Platform increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management, fueling confidence throughout the entire accounting cycle.

BlackLine's mission is to continuously improve the quality, accuracy and efficiency of Finance & Accounting by centralizing key functions within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities, BlackLine helps companies achieve Modern Finance status, ensuring more accurate and insightful financial statements and a more efficient financial close. More than 1,500 companies with users in approximately 120 countries around the world trust BlackLine to ensure balance sheet integrity and confidence in their financial statements.

BlackLine is recognized by Gartner as a Leader in its 2016 Magic Quadrant for Financial Corporate Performance Management (FCPM) Solutions and as a pioneer of the Enhanced Financial Controls & Automation (EFCA) software category.

Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.

About StoneRiver, Inc.
StoneRiver delivers the industry's widest range of value-oriented technology solutions and services to insurance carriers, agents and broker-dealers. This versatile product group encompasses front-office, policy, claims, rating, underwriting, billing and reinsurance automation for all major business lines. Hundreds of companies of all sizes rely on StoneRiver software and processing solutions to achieve a competitive edge. Customer satisfaction and client success are the continuing goal, and are in large part achieved by maintaining and valuing strong, long-term customer relationships.

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