BlackLine Expands Accounts Receivable Automation Solutions with e-Invoice Presentment and Payment (EIPP)

Rhea-AI Summary

BlackLine, Inc. unveils expansion to its accounts receivable automation solutions portfolio, introducing e-Invoice Presentment and Payment (EIPP) capabilities.

Positive

• BlackLine's AI-powered AR automation platform helps customers collect cash faster and unleash working capital.
• Newly acquired EIPP capabilities include generating, sending, and monitoring invoices in diverse e-invoice formats, enhancing self-service capabilities, and offering financial flexibility with versatile payment channels.

Negative

• None.

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."

For more information, please go here.

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. 

BlackLine Forward-looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans and opportunities.

Any forward-looking statements contained in this press release are based upon BlackLine's current plans, estimates and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company's ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in our Annual Report on Form 10-K.  Additional information will also be set forth in our Quarterly Reports on Form 10-Q.

Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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SOURCE BlackLine

FAQ

What is BlackLine's newly acquired capability?

BlackLine has acquired e-Invoice Presentment and Payment (EIPP) capabilities.

How does BlackLine's AI-powered AR automation platform benefit customers?

BlackLine's AI-powered platform helps customers collect cash faster and unleash working capital.

What are the highlights of BlackLine's EIPP capabilities?

The highlights include generating, sending, and monitoring invoices in diverse e-invoice formats, enhancing self-service capabilities, and offering financial flexibility with versatile payment channels.

What other solutions are included in BlackLine's unified AR automation solutions?

BlackLine's unified AR automation solutions include Cash Application, Credit and Risk Management, Collections Management, Dispute Resolution, Task Management, and analytics.

What did Therese Tucker, co-CEO of BlackLine, say about AR automation?

Therese Tucker stated that AR automation is a critical component in any modern accounting or digital finance transformation journey.