BlackLine Named a Leader in Two Categories in New Finance and Accounting Platforms Report
Digital finance transformation leader is the only company recognized for both Invoice to Cash and Record to Report in 2024 ISG Provider Lens™ study
LOS ANGELES, May 13, 2024 /PRNewswire/ -- Global technology research and advisory firm Information Services Group (ISG) has named BlackLine, Inc. (Nasdaq: BL) a leader in two categories – Invoice to Cash (I2C) and Record to Report (R2R) – in its latest Provider Lens™ study that assesses platform providers for their ability to help businesses transform and manage finance and accounting (F&A) operations.
The 2024 ISG Provider Lens™ Global Finance and Accounting Platforms report evaluates the capabilities of 22 providers across two quadrants. BlackLine is the only company identified as a leader in both:
- Invoice to Cash, covering providers that deliver platforms encompassing the entire accounts receivable spectrum, leveraging cutting-edge technology such as AI, machine learning, and robotic process automation to revolutionize how businesses approach receivables, enabling decision-making with predictive analytics, optimizing customer payment behaviors, and ensuring seamless cash flow management.
- Record to Report, covering providers encompassing the entire financial recording and reporting process from the initial recording of transactions and events to delivering financial insights and reports. More than just tools for financial recordkeeping and reporting, these platforms are vital instruments for strategic financial management.
In the report, lead author and ISG analyst Gaurang Pagdi notes, "The emergence of F&A platforms stands at the forefront of innovation, indicating a transformation in how businesses manage their fiscal operations. As organizations grapple with an increasingly complex financial environment marked by global economic fluctuations, stringent regulatory demands, and the push for transparency, such platforms have become indispensable. They facilitate efficiency and provide strategic insight, enabling companies to navigate the uncertainties of financial management with agility and informed foresight."
Pagdi goes on to say, "BlackLine's extended F&A ecosystem enables the modernization of traditional finance operations by delivering cohesive solutions that span critical functions. Its unified I2C platform streamlines invoicing and collections, enhancing cash flow and customer relations. Concurrently, the comprehensive R2R processes automate and refine financial reporting, ensuring accuracy and compliance. This holistic approach not only elevates operational efficiency but also empowers businesses with real-time insights for strategic decision-making, fostering sustainable growth."
ISG Provider Lens™ reports combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. All evaluations feature customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG's continuous CX research.
To learn more about BlackLine's market-leading solutions for I2C and R2R or to view a customized version of the ISG report, go here.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting and finance processes are not sustainable. BlackLine's market-leading cloud platform and 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, intercompany accounting, invoice-to-cash, and consolidation processes – inspiring, powering, and guiding large enterprises and midsize businesses on their digital finance transformation journeys.
More than 4,400 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 is recognized as the leader by customers at leading end-user review sites including G2 and TrustRadius. BlackLine is a global company with operations in major business centers including Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Sydney, Bangalore, and Singapore. For more information, visit blackline.com.
BlackLine Forward-looking Statements
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