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BlackLine has been named a Leader in the IDC MarketScape for Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment.
The IDC MarketScape report emphasises the growing need for automating Accounts Receivable (AR) as a crucial part of end-to-end invoice-to-cash operations, aiming to enhance accuracy and drive business value.
BlackLine's position as a Leader was determined by IDC's analysis of vendor capabilities, strategic vision, buyer impressions, and user feedback.
The report notes, "BlackLine offers a connected, modular, end-to-end invoice-to-cash solution that speeds up processes, eliminates double work, and removes silos between teams by providing immediate access to useful information and data."
The IDC MarketScape highlights the effectiveness of BlackLine's unified and scalable platform, stating, "The company's SaaS account receivable solution is delivered on a unified platform. This means that its invoice-to-cash modules are integrated seamlessly. Real-time data sharing eliminates silos and fosters collaboration and efficiency. By leveraging all available information, BlackLine empowers users to gain deep insights, optimise processes, and clinch deals with unmatched effectiveness."
Kevin Permenter, Senior Research Director of Financial Applications at IDC, commented, "Automating AR processes not only accelerates cash flow but also reduces errors and enhances customer relationships, positioning enterprise organisations at the forefront of financial management innovation."
He added, "BlackLine's current capabilities and vision for future-ready financial operations reflect a deep understanding of the end-to-end challenges faced by the office of the CFO. The company demonstrates dedication to continued investment in innovation to meet the evolving needs of its customers. For these reasons, we consider it a Leader in this category."
The report advises organisations to "consider BlackLine when searching for a unified platform that supports the entire AR process end to end with simple configurability and easily self-serviced functionality."
Andy Lilley, Invoice to Cash Managing Director at BlackLine, stated, "We believe this achievement reflects the value our comprehensive platform brings. BlackLine empowers thousands of companies to achieve future-ready financial operations with unified and accurate data, optimised processes, and real-time insights powered by automation and AI."
Therese Tucker, BlackLine Co-CEO and Founder, expressed, "We are honoured to be recognised by the IDC MarketScape as a Leader in AR Automation Applications for the Enterprise. The fact that this recognition comes so quickly on the heels of our position as a Leader in the IDC MarketScape: Worldwide Office of the CFO Record to Report 2024 Vendor Assessment we believe underscores our continued investment in customer-centric innovation to solve the challenges facing the Office of the CFO."
