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BlackLine unveils next generation unified platform for Accounts Receivable automation
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 endto-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 endto-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 ,” added 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 .” x
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