BlackLine Expands Accounts Receivable Automation Solutions with e-Invoice Presentment and Payment (EIPP)
Company's integrated Invoice-to-Cash solution, unveiled at BeyondTheBlack™ 2023, automates end-to-end accounts receivable processes to unleash working capital
LOS ANGELES, Oct. 10, 2023 /PRNewswire/ -- Digital finance transformation leader BlackLine, Inc. (Nasdaq: BL) has unveiled an expansion to its accounts receivable (AR) automation solutions portfolio, introducing e-Invoice Presentment and Payment (EIPP) capabilities. The addition of EIPP comes as a result of the company's acquisition of partner Data Interconnect, a pioneering provider of electronic invoicing software and global compliant invoicing based in the UK.
BlackLine's AI-powered AR automation platform uses intelligent automation to help customers collect cash faster and unleash working capital. "By enhancing its EIPP capabilities, BlackLine is adding significant value to its robust Invoice-to-Cash software application, and providing extensive functionality to users looking to automate and modernize accounts receivable operations," said industry analyst Kevin Permenter, research director of financial applications at IDC.
Highlights of BlackLine's newly acquired EIPP capabilities include:
Ability to generate, send, and monitor invoices in diverse e-invoice formats through a multitude of delivery channels
Increased compliance with evolving e-invoicing regulations across various countries
· Payers can conveniently access and download invoices through secure, branded, customer invoice portals, enhancing self-service capabilities
Enhanced financial flexibility with the ability to service inbound customer payments through a range of versatile payment channels
In addition to EIPP, BlackLine's unified AR automation solutions now include Cash Application, Credit and Risk Management, Collections Management, Dispute Resolution, Task Management, and analytics to power data-driven decision-making on credit limits, risk policies, collections strategies, and more.
"AR automation is a critical component in any modern accounting or digital finance transformation journey," said Therese Tucker, co-CEO of BlackLine. "With the addition of EIPP, we are now offering an end-to-end Invoice-to-Cash solution for our clients and enabling them to drive further operational excellence in their accounts receivable organizations."
Tom Dodd-Noble, founder of Data Interconnect, added "BlackLine is a good home for Data Interconnect. Adding our Invoice-to-Cash technology to BlackLine's AR automation platform can deliver even greater functionality and value to customers."
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About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting processes are not sustainable. BlackLine's cloud-based financial operations management platform and market-leading customer service help companies move 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 enterprises and midsize companies across all industries do accounting work better, faster, and with more control.
More than 4,200 customers 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 at leading end-user review sites including G2 and TrustRadius. BlackLine is a global company with operations in Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Singapore, and Sydney. For more information, please visit blackline.com.
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