BlackLine Accounting Studio, Financial Reporting Analytics, Modern Accounting Playbook for Cash Application and Microsoft Dynamics 365 Connector to enable modern accounting
LOS ANGELES, November 8, 2022 /PRNewswire/ — Leader in Accounting Automation Software black line, Inc. (Nasdaq:BL) today announced several new innovations, including the BlackLine Accounting Studio, designed to help finance and accounting (F&A) leaders transform and modernize their operations through a single, controlled that unifies all of BlackLine’s market-leading solutions. The new offerings will be showcased this week at BlackLine’s annual global conference beyondblack™ 2022.
Highlights of the enhanced platform functionality and new solutions from BlackLine include:
BlackLine Accounting Studio to unify, orchestrate and automate end-to-end processes
The BlackLine Accounting Studio will unify BlackLine’s existing solutions in the Financial Close Management, Accounts Receivable (AR) Automation and Intercompany Financial Management (IFM) categories, as well as other financial and ERP applications, into a single, controlled environment. The new Studio is expected to fundamentally change the way accounting work is done by bringing people, processes and data together and enabling organizations to unify disparate financial data systems, orchestrate and design processes and integrate automation at every step of the process. With the Studio, M&A teams can optimize their capabilities and move from manual, routine work to strategic initiatives.
The BlackLine Accounting Studio will provide dedicated space for managing business and regulatory requirements, collecting data inputs, designing compliant processes, incorporating stakeholder feedback, executing plans, and documentation of work for reproducibility and reporting. The BlackLine Accounting Studio is designed to abstract the complexity of multiple M&A, ERP and data flow systems, allowing clients to easily create and configure standardized process workflows with end-to-end automation and visually track the status of all accounting tasks and processes. The result will be greater visibility, efficiency and control across divisions and systems.
The first iteration of the Studio will focus on financial close processes and is expected to be available to everyone in Q2 2023.
Analysis of financial reports for control, validate and rationalize the analysis of financial statements
BlackLine’s Financial Reporting Analytics is a new solution that enables analysis and validation of group-level financial data with direct, real-time visibility into local or underlying details. Financial Reporting Analytics provides a centralized workspace with end-to-end transparency to ensure completeness and accuracy of consolidated fluctuation calculations. Customers will be able to review financial statements and run variance analysis faster, eliminate time wasted on manual workflows, and redeploy resources to focus on exceptions – replacing error-prone reactive processes with a proactive approach and preventive that strengthens key controls.
Modern accounting manual for cash app to helping growing businesses rapidly transform accounts receivable processes
With recession fears, soaring energy prices, and rising inflation and interest rates around the world highlighting the importance of cash flow and working capital for businesses, BlackLine presents a new edition of his popular Modern Accounting Playbook (MAP) specifically for Cash Application. BlackLine’s MAP methodology provides prescriptive guidance based on best practices derived from BlackLine’s experience working with thousands of enterprises and midsize businesses. MAP for Cash Application helps organizations transform critical processes and gain real-time visibility into AR with BlackLine’s Cash Application and AR Intelligence solutions.
The BlackLine Cash app automatically and intelligently applies customer payments to invoices, achieving an auto-match rate of up to 85%, reducing manual effort, freeing up lines of credit, and allowing AR professionals to focus on risk management and money collection with full visibility and control. BlackLine AR Intelligence automatically analyzes customer behaviors, sales trends, and payment results to make decisions on credit limits, risk policies, collection strategies, and more.
BlackLine’s Modern Accounting Playbook for Cash app combines these powerful solutions with unique expertise to guide clients to quickly implement and automate bill-to-cash processes in as little as 90 days to increase efficiency, save time and reduce risk.
BlackLine Connector for Microsoft Dynamics 365 provide improved connectivity and data integrity
BlackLine has introduced a connector to provide Microsoft Dynamics 365 Finance and Operations customers with confidence that their data on BlackLine’s cloud platform is complete and accurate without additional verification or manual steps. The new connector securely transmits the latest information, automatically retrieves balances and transactions from general ledger accounts, and formats the data into BlackLine’s specifications for import. With BlackLine’s Microsoft Dynamics 365 Connector, accounting and finance teams can gain greater control and visibility over the movement of data from Microsoft Dynamics 365 to BlackLine, resulting in improved data compatibility and greater accuracy.
“Organizations today operate in an unpredictable and highly competitive economic and business landscape with more demand than ever for finance and accounting to focus on risk management, control environments and optimizing workflows. cash,” said Marc Huffman, CEO of BlackLine. “Manual accounting processes are simply not sustainable or suitable for this environment. With our new solution offerings and the introduction of BlackLine Accounting Studio, we want to help our customers fundamentally change the way accounting work is done. With modernized M&A processes, companies will benefit from improved working capital, greater data integrity, reduced risk, and improved visibility and control, which we believe place it in a much stronger position to respond to external challenges.”
BeyondTheBlack is BlackLine’s annual conference that for 14 years has brought together a global community focused on M&A innovation and leadership. New solutions and features unveiled at BeyondTheBlack 2022 follow recent BlackLine introductions AR Intelligence Customer Attractiveness Rating and Tax hyperautomation for MFIs capabilities that will also be showcased at the event.
BeyondTheBlack 2022 is happening now (Monday to Wednesday, November 7e at 9e) at the Bellagio Resort in Las Vegas. A free live stream is available with keynote speeches and selected panel sessions. For more information or to register to attend in person or virtually, visit here.
About BlackLine
companies come black line (Nasdaq: BL) because their traditional manual accounting processes are unsustainable. BlackLine’s cloud-based financial operations management platform and industry-leading customer service help businesses transition to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions to manage and automate financial close, accounts receivable, and intercompany accounting processes, helping large and midsize businesses in all industries do their accounting work better, faster, and with more control.
Over 4,000 clients trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer of the cloud financial close market and recognized as the leader by customers on major end-user review sites including G2 and TrustRadius. BlackLine is a global company with operations in major business centers around the world, including Los Angeles, New Yorkthe San Francisco Bay Area, London, Paris, Frankfurt, Tokyo, Singapore and Sydney. For more information, please visit blackline.com.
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SOURCE BlackLine
