Accounting automation software leader BlackLine, Inc. today announced new products as well as updates to its flagship cloud platform designed to further enable Finance & Accounting (F&A) departments to transform and modernize their operations. The new features and solutions will be unveiled this week in front of more than 15,000 registrants at BlackLine’s annual global user conference BeyondTheBlack™ 2020: The Modern Accounting Virtual Experience.
Highlights of BlackLine’s enhanced platform functionality and new offerings include:
BlackLine Cash Application to Simplify the Order-to-Cash Process
BlackLine is launching BlackLine Cash Application. Using AI and machine learning, BlackLine Cash Application enables organizations to manage cash flow and cash collection in real time, simplifying the order-to-cash process by automating both the collection and allocation of customer cash. The launch marks BlackLine’s entrance into the accounts receivable automation market following the acquisition of Rimilia, a leader in the category.
BlackLine Account Analysis to Mitigate Risk in High-Volume Accounts
BlackLine Account Analysis is a new solution that helps organizations proactively manage risk by automatically analyzing transactions in complex, high-volume accounts. Exceptions, such as aged items, are surfaced with clear action plans so they can be investigated, explained and resolved by Accounting team members who can add notes, comments and documentation in a fully auditable workflow. So much of this work is done today in spreadsheets as part of a traditional reconciliation process that often leads to errors. Account Analysis enhances BlackLine’s complete end-to-end reconciliation automation suite by enabling an even deeper level of detail, categorization and resolution of exceptions and errant transactions. (General availability 2021.)
Read More: Global FinTech Series Interview with Gary Hagmueller, Chief Executive Officer at CLARA analytics
New User Interface to Help Drive Finance Performance Management
BlackLine is upgrading its user interface (UI) across the entire platform in an effort to create a more intuitive and streamlined user experience. The new UI is based on a library of elements that are deployed across the application, giving visual cues for the most important and commonly used items on any given page while assuring ease of use for all users. BlackLine has also completely redesigned the Unmatched Transaction interface to simplify the process of manually matching transactions, speeding up decision-making and saving time.
Read More: The Future of Small Business Lending Is Here– And It’s Digital!
