In today’s fast-paced enterprise environment, organizations rely heavily on a wide range of Software-as-a-Service (SaaS) applications. These tools are essential for driving operational efficiency, but the lack of seamless integration between them can often lead to inefficiencies and errors. Recognizing this challenge, Nakisa has partnered with BlackLine, a leader in financial automation, to offer a game-changing solution for lease management and accounting. Together, Nakisa’s Lease Administration (NLA) platform and BlackLine create a streamlined, automated workflow that simplifies reconciliation and enhances financial accuracy for Fortune 1000 companies.

What is Nakisa Lease Administration?

Nakisa Lease Administration (NLA) is a secure, user-friendly cloud platform designed to revolutionize lease accounting. It simplifies lease management processes and ensures compliance with both global and local lease standards such as ASC 842 and IFRS 16. With native integration capabilities for ERP systems like SAP and Oracle, NLA centralizes all lease-related data, making it easier for companies to manage their leases across various industries, including retail, automotive, finance, and healthcare.

What is BlackLine?

Founded in 2001, BlackLine is a cloud-based financial automation provider specializing in streamlining accounting tasks, particularly reconciliation processes. By automating repetitive financial tasks and integrating seamlessly with ERP systems such as SAP and Oracle, BlackLine enhances data accuracy, financial efficiency, and accountability. This enables businesses to adapt quickly in an ever-changing landscape and maintain financial precision.

Why Integrate NLA with BlackLine?

The integration of Nakisa Lease Administration with BlackLine delivers a powerful solution for organizations looking to streamline their lease-related accounting processes. By combining NLA’s robust lease administration features with BlackLine’s automation capabilities, companies can improve compliance with accounting standards like ASC 842 and IFRS 16, while enhancing financial visibility and control. For many of Nakisa’s Fortune 1000 clients already using BlackLine, this integration is a natural step forward in optimizing lease management and financial accounting. The integration ensures that both platforms’ “best-in-class” functionalities are preserved, making it easier to manage and reconcile lease-related transactions.

How Does the Integration Between BlackLine and NLA Work?

Nakisa Lease Administration generates key reports like the Consolidated Transactions Report (CTR), which offers a detailed overview of lease transactions. To streamline the process, Nakisa has implemented an API framework that allows the CTR and other reports to be automatically exported from NLA to BlackLine using Secure File Transfer Protocol (SFTP). The Nakisa NLA API utilizes RESTful web services, sending HTTP requests to retrieve the data in JSON format, which is compatible with BlackLine.

This integration simplifies the process of transferring financial data between platforms and ensures that the information is accurately formatted, without the need for manual re-entry or file uploads. This API-based framework can also be expanded to automate the transfer of additional reports generated by NLA to BlackLine, further enhancing the integration’s capabilities.

Five Key Benefits for Accountants and NLA Clients

1. Improved Efficiency and Time Savings: Automating the reconciliation of lease-related balance sheets and CTR entries reduces the risk of human error, leading to significant time and cost savings.

2. Enhanced Compliance and Reporting: By ensuring that source data is not manipulated, this integration helps businesses meet SOX compliance requirements and other internal accounting controls.

3. Streamlined Lease Accounting: By using APIs to transfer reports, the need for manual data export and re-upload is eliminated, streamlining the entire lease accounting process.

4. Ease of Use and Flexibility: Clients can easily set up reporting templates that automatically pull data from source materials on a scheduled basis, such as monthly or quarterly.

5. Real-Time Integration: The seamless integration between Nakisa and BlackLine ensures that both platforms work in real-time, providing businesses with the most up-to-date information for decision-making.

Driving Efficiency and Ensuring Compliance

By integrating Nakisa Lease Administration with BlackLine, organizations can significantly reduce manual errors, save valuable time, and cut operational costs. This integration enhances financial efficiency, allowing businesses to focus on strategic decisions rather than time-consuming reconciliation tasks. With the combined power of Nakisa and BlackLine, enterprises can achieve a more integrated, streamlined lease management and accounting process that aligns with the highest standards of financial transparency and compliance.