BlackLine Introduces Accounts Receivable Insights Product

Accounting software provider BlackLine, Inc. has debuted its BlackLine AR Intelligence offering, which lets clients control financial risks and opportunities through access to live and actionable data, according to a Thursday (April 1) announcement.

Over $187 billion in payments were applied via its BlackLine Cash Application last year, and clients can receive business insights by adding BlackLine AR Intelligence.

Dashboards show data like customer behavior insights. This includes sales and performance information like invoiced sales by month and cash by month along with the difference between them.

In addition, the dashboards offer the capacity to provide an outlook for weekly collections and “measure accuracy by using real-time customer payment behavior,” according to the announcement.

Other types of data shown on the platform include days sales outstanding (DSO), bank utilization, sales ledger analysis and payment terms versus cash collected.

“BlackLine AR Intelligence provides our customers with a deep understanding of the financial risks and opportunities within their customer bases, unlocking data either previously not available to them or that took days and weeks to generate manually,” Kevin Kimber, managing director of BlackLine’s global accounts receivables business unit, said in the announcement.

Kimber noted that BlackLine AR Intelligence provides live analysis that helps the accounts receivable (AR), order-to-cash departments and credit management departments in addition to high-level stakeholders like the office of the controller, the chief financial officer (CFO), treasury and the CRO/sales workforce.

BlackLine AR Intelligence is “one of several AR automation offerings to come,” according to the announcement.

The news comes as BlackLine purchased artificial intelligence-based cloud system Rimilia to grow BlackLine’s functionalities into AR automation.

BlackLine CEO Marc Huffman said that AR is “the single largest asset for most businesses” and that Rimilia’s capacity “to unlock working capital and reduce risk is top of mind for today’s controllers and CFOs.”

BlackLine also recently collaborated with Capgemini to streamline financing and accounting functionalities.