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Unify, Streamline & Automate Accounts Receivable

BeyondTheBlack 2022

3-minute read

Accounts receivable is a critical component of the accounting process but applying payments on time and accurately can be challenging.

Why Companies Must Transform AR Processes

For many companies, it consumes significant resources—including staff time and costly external services—that can extend close cycles and increase unapplied cash. The decentralized nature of the process and the subsequent lack of visibility can further compound the problem. At the same time, an inability to apply payments quickly and accurately can hurt customer experience and negatively impact future sales.

For all these reasons, companies are eager to transform and modernize their accounts receivable processes. Unfortunately, it can be difficult to envision where to start. The desire to change may be there but getting buy-in and building the change management plan can be obstacles that are hard to overcome.

The Leading Solution for Fast, Efficient & Accurate Receivables

That’s where BlackLine comes in with our Modern Accounting Playbook for Cash Application.

Built on our experience advising thousands of organizations, MAP for Cash Application is a proven-practices approach that prioritizes critical accounting gaps to lay out a practical, achievable path to success along each stage of your AR transformation journey.

Our MAP framework identifies areas ripe for transformation and is designed for rapid deployment—for some organizations, it’s in as few as 90 days.

At this year’s BeyondTheBlack, Andy Lilley, BlackLine’s managing director of AR automation, noted, “rapid cash application is one of the fastest and best ways to enhance agility and resilience. BlackLine provides a proven and quick path to automatically applying cash to invoices for companies.”

MAP for Cash Application is a leading-practice solution that:

  • Streamlines cash application organization-wide and provides visibility into your receivables process

  • Automates manual steps, drives consistency, and assures control of your receivables process, releasing capacity to focus on cash collections

  • Leverages powerful software to enable organizations to centralize and automate cash application across the organization through configurable rules-based automation and artificial intelligence

 

Benefits of Transforming Your AR Processes

What does implementing a solution like MAP for Cash Application mean for your organization? Here are just a few of the benefits you’ll realize:

Accelerated Transformation. Quickly adopt critical technology and transform one of the highest-value processes in AR.

Unified Data. Integrate with core systems, like ERPs and bank systems, to automate back-and-forth data flows without needing to manually key data.

Automated Cash Application. Instantly match combinations, including one-to-one, one-to-many, overpay/underpay, deductions, early settlement, discount, and small difference write-offs.

Centralized Visibility. Real-time dashboard views improve decision-making with centralized and automatic AR insights, including DSO (days sales outstanding), bank utilization, cash collection and terms, customer behavior, and payment forecasting.

BlackLine’s Modern Accounting Playbook for Cash Application

Whether you have 5 or 500 finance and accounting employees, BlackLine provides informed expertise with a clear vision and a playbook to modernize accounts receivable.