Business
BlackLine Raises The Bar Again, Unveiling Next Generation Unified Platform For Accounts Receivable Automation
Comprehensive suite of solutions helps customers unleash working capital and accelerate their journeys to modern accounting and financial operations
About this update from Blackline, Inc.
[{"type":"text","content":"Comprehensive suite of solutions helps customers unleash working capital and accelerate their journeys to modern accounting and financial operations excellence\n LOS ANGELES and LONDON, Oct. 27, 2021 /PRNewswire/ -- Accounting automation software leader BlackLine, Inc. (Nasdaq: BL) has expanded its accounts receivable (AR) automation offering, unveiling the next generation of its full-functionality AR automation suite – marking the industry's first unified platform for end-to-end cash flow optimization, 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.\n\n \n \n \n \n \n \n\n \nThe roles of the CFO and controller are ever-changing, with balance sheet optimization 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 $10 billion+ global market opportunity for AR automation. \n\"Business resilience has never been higher up the CFO's agenda and history shows 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.\"\nMany of the world's leading companies already use BlackLine to automate key AR processes. In the first three quarters of 2021 alone, more than $170 billion worth of payments were applied globally via BlackLine AR Automation solutions. Here's what some customers are saying:\n\"Blac...