BlackLine’s March 2022 Roundup

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4-minute read

This monthly BlackLine update is published to keep you informed of customer success stories, upcoming events, helpful resources, best practices, and thought leadership from the leading cloud financial close solution.

In the News

ERP Today: BlackLine Acquires Financial Management Software Provider FourQ Systems

Last month, BlackLine announced the acquisition of FourQ Systems, a leader in intercompany financial management technology. The deal further strengthens BlackLine’s position with the office of the controller and enhances their intercompany automation capabilities.

“Intercompany accounting is one of the biggest distractions for finance and accounting for multinational corporations…F&A must become more agile to respond to constantly evolving market dynamics and regulatory needs—but they’re often buried in tactical transactional work and intercompany disputes. Intercompany challenges are not new but with increasingly complex global business models and regulatory scrutiny, demand for intercompany transformation is higher than ever,” said BlackLine CEO Marc Huffman of the acquisition.

Customer Story

Atlantic Union Bank

With over 100 branches throughout Virginia, Atlantic Union Bank Bio struggled with paper-driven manual processes that left their reconciliations decentralized. Numerous paper binders and mounting storage costs became nearly impossible to manage. After evaluating two solutions, BlackLine won over the team.

After implementation, Atlantic Union was able to decrease storage costs, ease their audits, and increased productivity without increasing headcount. As the organization has continued to grow their business, BlackLine’s functionality has scaled along with their business.

BlackLine Magazine

Choosing the Right Accounting Software for Your CFO Tech Stack

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In a guest blog, BlackLine Solution Provider Partner Revelwood explores the shift in the Office of Finance from selecting all-in-one solutions for accounting, financial planning, and more to building a CFO tech stack, with best-in-breed tools from a variety of vendors.

Today’s finance leaders recognize that stand-alone systems can be much more efficient as the software vendor is focused on a specific function of the business, like the controllership.

Before selecting an accounting solution, organizations should look at their current processes, while also considering future growth of the business to select a platform that will best serve current and evolving needs.

Best Practices

Future of Accounting in 2022: Advancing in an Evolving World

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As we move into a new year, it’s a good time to align F&A capacity and resources with your organization’s strategic initiatives. How can accounting capitalize in 2022?

These are the keys to the future of accounting:

  • It’s not about the hours in a day—it’s how you use them. How can you optimize your team’s time?

  • Automation is key to showcasing your true value, and top talent expects a more modern way to work.

  • Innovating with cloud-based accounting technologies because F&A needs access to information even in a remote or hybrid environment.

  • A profound F&A mindset shift has led to expanded expectations which have transformed the once change-adverse area of the business.

  • Skills for future F&A professionals are critical, as amid the Great Resignation, F&A professionals are joining organizations where they can utilize their analytical skills.