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
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,"
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these terms or other comparable terminology. Forward-looking
statements in this release include statements regarding our growth
plans, strategies 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
