Following this announcement, BlackLine introduced its new e-Invoice Presentment and Payment (EIPP) capabilities. The addition of the new offerings represents a new step into the company’s development strategy, following its acquisition of partner Data Interconnect. The firm is a provider of electronic invoicing services and software, as well as global compliant invoicing solutions, based in the United Kingdom.
BlackLine’s accounts receivable (AR) platform is powered by artificial intelligence (AI) and it was developed in order to leverage intelligence automation to improve the manner in which clients and users collect cash in a more efficient and secure way, as well as to unleash working capital.
Through the process of using its new e-Invoice Presentment and Payment capabilities, BlackLine aims to add an optimised value to its Invoice-to-Cash software application. In addition, the company will focus on providing extensive functionality to its customers, by automating and modernising account receivable operations.
Included in the newly acquired EIPP is the ability to generate, send, and monitor invoices in multiple e-invoice formats, through the use of a suite of delivery channels, as well as increased compliance with the evolving and demanding e-invoicing regulations that change depending on countries and regions around the world.
Payers will be given the possibility to conveniently and securely access and download invoices through a safe, branded, and customer invoice set of portals. This feature aims to optimise the overall self-service capabilities and to make the process faster and more convenient for users. The improved financial flexibility will take place with the ability to service inbound client payments through a range of different payment channels and methods.
According to the press release, in addition to the e-Invoice Presentment and Payment (EIPP) capabilities, BlackLine’s unified AR automation services currently also include Cash Application, Collection Management, Dispute Resolution, Credit and Risk Management, Task Management, as well as analytics that can be leveraged to power data-driven decision-making on credit limits, collections strategies, risk policies, and more.
As AR automation represents an important component of any modern accounting or digital finance development journey, the EIPP solutions will be leveraged to enable customers with the capability to drive further operational growth in their accounts receivable organisations. Furthermore, BlackLine will focus on meeting the needs, expectations, and demands of its users, while remaining compliant with the requirements and laws of the industry at the same time.
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