Accounting automation software leader BlackLine has expanded its accounts receivable (AR) automation offering, unveiling the next generation of its full-functionality AR automation suite – marking one of the industry’s first unified platforms for end-to-end cash flow optimisation, including cash application and collection, credit and risk management and dispute resolution.
BlackLine’s AI-powered unified AR automation platform uses intelligent automation to help customers release cash from debtors faster, unleash working capital and accelerate their journeys to modern accounting and financial operations excellence.
The roles of the CFO and controller are ever-changing, with balance sheet optimisation and the ability to quickly turn receivables into cash becoming more important than ever. In fact, a PWC Working Capital Report highlights that €1.2 trillion is being held hostage on global balance sheets.
As companies emerge from the pandemic, there is a renewed focus on how they manage cash in the business and on improving working capital and debt collection capabilities. BlackLine is committed to helping its customers in what is estimated to be a US$10 billion+ global market opportunity for AR automation.
“Business resilience has never been higher up the CFO’s agenda and history show that those companies that invest during uncertainty are those that thrive when markets rebound,” said Kevin Permenter, Research Director, IDC Financial Applications.
“Having efficient control and predictability across all elements of finance is critical yet most businesses still aren’t focusing on one of the biggest assets on their balance sheet, their receivables. I applaud the focus on innovation that BlackLine is bringing to the AR space and think this presents a powerful opportunity for transformation in this market.”
BlackLine’s unified applications for end-to-end AR automation are all built on the same multi-tenant platform. By bringing together a number of key processes on one platform, BlackLine’s AR automation solutions empower companies to maximise working capital by collecting cash faster and providing a better understanding of cash flow.
“Cash is the lifeblood of every business and having working capital on hand is essential to ensure business resilience,” said Kevin Kimber, Managing Director of BlackLine’s global AR automation business unit.
“AR automation is a critical component in any modern accounting or digital finance transformation journey. Those companies that deploy intelligent automation across their finance and accounting organisations will be best positioned to accelerate, thrive and rise above the competition.”