Financial Management

BlackLine and Kybria, Collaborate To Accelerate Bank Connectivity

BlackLine, Inc., a leader in accounting automation software, and Kyriba, a global leader in cloud-based finance and IT solutions, announced today that they are collaborating to streamline the digitalization of the Office of the CFO and improve collaboration between Finance and Treasury departments. Through its integrated solutions, the collaboration provides enhanced capabilities for mutual customers by accelerating bank connectivity, improving cash visibility, and allowing more automation within the financial close and accounts receivable processes.

Finance and Treasury leaders need their technology solutions to operate more effectively across both the Finance and Accounting organizations, including Treasury and Risk, at a time when organizational resilience is more essential than ever. BlackLine and Kyriba assist businesses in adapting and responding to changing circumstances by streamlining processes, improving data integrity, optimizing cash and liquidity management, and automating repetitive work to transform traditional close operations.

Customers that use BlackLine in conjunction with Kyriba can expect reduced business-process costs and higher organizational efficiency. Preconfigured bank connections from Kyriba simplify bank reporting, reducing time-to-value for BlackLine clients. In addition, the transaction matching solution from BlackLine can automate up to 95% of bank reconciliations and match millions of transactions in minutes. When combined with Kyriba's robust and pre-built inventory of bank connectors, Blackline clients can simplify bank statement reporting from thousands of institutions worldwide, delivering unparalleled efficiency in their finance and accounting operations.

Kyriba and BlackLine mutual clients now have access to complimentary solutions for bank connectivity, payments automation, and intercompany accounting, guaranteeing value across three main use cases:

• Accelerated Bank Connections and Increased Cash Visibility: Provides BlackLine customers with faster connections via an extensive network of pre-connected, pre-configured banks; time to onboard customers for automated reporting is drastically reduced, while Finance and Accounting receive timely, valuable information for accounts receivable and close processes.

• Accounts Receivable Automation: Using AI-powered automation throughout order-to-cash processes, you can reduce manual activity and collect more cash. Customer payments are seamlessly matched to invoices with intelligent automation, eliminating the need for expensive lockbox services, decreasing days sales outstanding (DSO), and freeing up AR team capacity to concentrate on value-added activities.

• Financial Close Management: Automates data interchange using close financial technologies that reconcile and verify daily and period-end cash and balanced reporting.

About BlackLine
Companies come to BlackLine because their manual accounting processes are no longer sustainable. BlackLine's cloud-based solutions and industry-leading customer service assist companies in transitioning to modern accounting by unifying data and processes, automating repetitive work, and increasing responsibility through visibility. In addition, BlackLine offers solutions for managing and automating financial close, accounts receivable, and intercompany accounting processes, assisting large enterprises and midsize companies across all sectors to do accounting work better, faster, and with more control.

About Kyriba
Kyriba enables CFOs, Treasurers, and their IT counterparts to change how they optimize financial technology solutions, de-risk ERP cloud migration, and unleash liquidity as a dynamic, real-time vehicle for growth and value creation. Kyriba's leading Connectivity as a Service platform integrates internal applications for treasury, risk, payments, and working capital with critical external sources such as banks, ERPs, trading platforms, and market data providers. It has 2,000 clients worldwide, including 25% of Fortune 500 and Eurostoxx 50 companies. Kyriba handles over 1.3 billion bank transactions each year and 200 million payments into 140 countries as part of our Connectivity Platform.

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