BlackLine Home page BlackLine home page
Solutions
Solutions
Financial Close Management
Financial Close Management
Overview
Overview
Account Reconciliations
Account Reconciliations
Task Management
Task Management
Transaction Matching
Transaction Matching
Journal Entry
Journal Entry
Financial Reporting Analytics
Financial Reporting Analytics
Variance Analysis
Variance Analysis
Smart Close for SAP
Smart Close for SAP
Accounts Receivable Automation
Accounts Receivable Automation
Overview
Overview
Cash Application
Cash Application
Credit & Risk Management
Credit & Risk Management
Collections Management
Collections Management
Disputes & Deductions
Disputes & Deductions
Team & Task Management
Team & Task Management
AR Intelligence
AR Intelligence
Invoicing & Compliance
Invoicing & Compliance
Intercompany Financial Management
Intercompany Financial Management
Overview
Overview
Intercompany Non-Trade
Intercompany Non-Trade
Intercompany Balance & Resolve
Intercompany Balance & Resolve
Intercompany Net & Settle
Intercompany Net & Settle
By Organization Size
By Organization Size
Midsize Organizations
Midsize Organizations
Large Enterprises
Large Enterprises
By Industry
By Industry
Banking & Financial Services
Banking & Financial Services
Consumer Products & Services
Consumer Products & Services
Energy & Raw Materials
Energy & Raw Materials
Healthcare & Life Sciences
Healthcare & Life Sciences
Manufacturing
Manufacturing
Retail
Retail
Technology, Media & Communications
Technology, Media & Communications
See All Industries
By ERP
By ERP
SAP
SAP
Oracle
Oracle
Oracle NetSuite
Oracle NetSuite
Microsoft Dynamics
Microsoft Dynamics
See All ERPs
By Topic
By Topic
Environmental, Social, and Governance
Environmental, Social, and Governance
Recruiting & Retaining Top Talent
Recruiting & Retaining Top Talent
Enabling an ERP Transformation
Enabling an ERP Transformation
CFO & CIO Collaboration
CFO & CIO Collaboration
F&A Transformation
F&A Transformation
IPO Readiness
IPO Readiness
Mergers & Acquisitions
Mergers & Acquisitions
Revenue Cycle Optimization
Revenue Cycle Optimization
Regulatory Compliance
Regulatory Compliance
Customers
Customers
Customer Success
Success Stories
Success Stories
Community
Community
Services
Services
Overview
Overview
Professional Services
Professional Services
Training & Education
Training & Education
Customer Success
Customer Success
Transformation Services
Transformation Services
Global Support
Global Support
Resources
Resources
Events
Events
Upcoming Webinars
Upcoming Webinars
On-Demand Webinars
On-Demand Webinars
White Papers
White Papers
Blog
Blog
Accounting Glossary
Accounting Glossary
Developer Portal
Developer Portal
About
About
Company
Company
About BlackLine
About BlackLine
Leadership
Leadership
Diversity, Equity & Inclusion
Diversity, Equity & Inclusion
Environmental, Social & Governance
Environmental, Social & Governance
In the News
In the News
Press Releases
Press Releases
Investors
Investors
Awards & Recognition
Awards & Recognition
Careers
Careers
Partners
Partners
Consulting Alliances
Consulting Alliances
Solution Provider Partners
Solution Provider Partners
Software & Cloud Partners
Software & Cloud Partners
Business Process Outsourcers
Business Process Outsourcers

BlackLine’s May 2022 Roundup

image

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

The Sunday Times: The Future of Financial Operations Management

With rapid change becoming the new normal in today’s volatile economic landscape, finance leaders are placing business agility and resiliency at the top of their list of priorities. Finance and accounting, once viewed as back-office functions, are now tasked with providing consultancy, analysis, planning, and due diligence to ensure sound business decision-making.

Two areas of F&A that are seeing an increased focus by CFOs are accounts receivables, which frees up critical cash on the balance sheet, and intercompany transactions, which are often a bottleneck for global organizations navigating increasingly complex regulations. Many companies have found that automation is a critical piece to streamlining these once overlooked processes.

“Although accounts receivable and intercompany activities are usually segregated in most organizations, the outcomes of these processes are symbiotic—unleashing balance sheet, net income, and cash potential,” says BlackLine CEO Marc Huffman.

Customer/Partner Spotlight

Sensiba San Filippo: Automate High-Volume Transaction Reconciliations with BlackLine

Transactional industries know—ticking-and-tying can often be the most time-consuming component of the month-end. With logic-based rules, BlackLine’s transaction matching engine can accelerate your bank, credit card, Point of Sale, and many other high-volume reconciliations.

After identifying the data sets they need to match, companies can define match and pass rules and ultimately match millions of transactions in just minutes. This allows F&A teams to dedicate more time to strategic and complete reconciliations more accurately in less time.

image

BlackLine Magazine

CFOs Should Scope, Simplify & Automate in Efforts to Reduce Burnout

Amid the Great Resignation, business leaders are looking for ways to increase productivity, while decreasing burnout on their teams. Michael Polaha, senior vice president of finance solutions and technology at BlackLine, says automation is key.

“It goes into the principle of simplifying and eliminating [parts of] the work, as some of these activities are not really necessary for the business, [and automating those that can be] is the best formula [in helping to reduce burnout],” he says.

Finance and accounting are a naturally high-stress area of the business, especially in a post-COVID world. Employees reach burnout after enduring periods of prolonged tension. Automating repetitive and manual processes allows F&A to spend more time interpreting the data, enabling them to play a more strategic and valuable role within the company

image

Best Practices

5 Ways to Make Intercompany Transactions Easier

Did you know over 80% of all global transactions are intercompany? Whether you’re looking to simplify processes, be more tax-efficient, or make cash flow more predictable, understanding what these intercompany transactions entail and how they impact financial statements is the key to unlocking hidden value.

Here are five tips to make intercompany easier:

  1. Identify the Type of Transaction and Set up a Standard Process to Record Them Properly

  2. Create an Agreement, Enforce the Agreement

  3. Drive More Collaboration Across the Enterprise

  4. Push for a Unified Intercompany Technology Environment

  5. Add Automation to Minimize Transactional Accounting