New Customer Attractiveness Scoring provides organizations with flexible models that assess credit worthiness to reduce risk and identify revenue opportunities
LOS ANGELES, Oct. 13, 2022 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL) has unveiled Customer Attractiveness Scoring, new capabilities in its AR (accounts receivable) Intelligence solution designed to provide real-time insights into the risk profile and behavior of an organization's customer base.
Using behavioral insights gleaned in real time during the cash collection and management process, companies can better identify customers who are at risk of defaulting on and/or delaying payments and reduce the risk of debt going bad. BlackLine's added capabilities also will help organizations to better identify customers whose credit risk is minimal, allowing companies to raise credit limits for those who demonstrate consistent payment behavior, thereby becoming a better partner to the business.
As concerns over inflation and an impending economic recession persist, the ability to tap into powerful insights around payment behaviors could help to significantly improve an organization's cash flow. Additionally, as the cost of borrowing continues to rise, companies are looking internally for ways to release working capital to invest elsewhere, without having to borrow from financial institutions. In fact, accordingto the The Hackett Group's report, "2022 Working Capital Survey", the 1,000 largest public companies in the US had almost $1.7 trillion tied up in excess working capital in 2021. As a result, The Hackett Group recommends large companies review and fine tune their credit risk management and collections management processes to capture changing payment behaviors and minimize exposure to bad debt.
Unlike credit risk profiles provided by credit agencies, BlackLine's Customer Attractiveness Scoring shows customer risk based on payment behavior as it's happening, providing the most up-to-date assessment of risk, specific to the trading relationship, instantly to credit teams. Customer Attractiveness Scoring features the following capabilities:
"Given evolving global economic conditions, companies are under increasing pressure to maximize their cash positions, meaning they are spending more time scrutinizing cash flow metrics, such as credit risk management and collections management processes. In fact, we are now seeing executives being asked to report on cash flow and working capital as much as on earnings and revenues," said Andy Lilley, managing director and head of Global AR at BlackLine. "With cash management more critical than ever, we are seeing more customers looking to BlackLine for intelligent insights, as businesses look to harness real-time data and powerful analytics to improve critical decision-making across the enterprise."
The new Customer Attractiveness Scoring sits within BlackLine'sAR Intelligence solution, which enables customers to manage financial risks and opportunities by providing access to real-time, actionable data, which helps them understand their customers' financial behaviors and use the information to impact strategic and operational decision-making. Customer Attractiveness Scoring is generally available now as part of BlackLine AR Intelligence at no additional charge.
Kevin Permenter, research director, Financial Applications, IDC, added: "Navigating the current economic headwinds means looking for ways to free up working capital, and the best way to release working capital is to better manage cash. One of the best ways to do this is by accurately assessing credit risk in real time; after all, global economic uncertainty goes hand in hand with rapid and unexpected changes to business conditions. Therefore, the more information an organization has about customer behavior in a timely fashion, the better they can assess this risk and minimize exposure to bad debt. As such, BlackLine has developed a potentially impactful product feature with BlackLine's Customer Attractiveness Scoring which is specifically designed to help companies better navigate a tough financial environment."
For more information on BlackLine's market-leading AR automation solutions, please go here.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting processes are not sustainable. BlackLine's cloud-based financial operations management platform and market-leading 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, accounts receivable and intercompany accounting processes, helping large enterprises and midsize companies across all industries do accounting work better, faster and with more control.
More than 4,000 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 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 around the world including Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Singapore and Sydney. For more information, please 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," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans 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.
SOURCE BlackLine
See the rest here:
- Tasker updated with powerful new Android 15 automation features - Android Police - May 17th, 2024 [May 17th, 2024]
- Exploring Stereo Imaging and Automation at the Machine Vision Summit - Novus Light Technologies Today - May 17th, 2024 [May 17th, 2024]
- Yellow.ai unveils Email Automation feature for streamlined support - IT Brief New Zealand - March 4th, 2024 [March 4th, 2024]
- Automation in Biopharma Industry Propels Market Growth with Emerging Trends - Global Forecast to 2028 - Yahoo Finance - March 4th, 2024 [March 4th, 2024]
- Ginkgo Bioworks: Pioneering Healthcare's Future with Drug Development Automation - BNN Breaking - March 4th, 2024 [March 4th, 2024]
- Inspiring cloud automation - The Register - March 4th, 2024 [March 4th, 2024]
- Clinical Lab Automation Market to Reach $3.72 Billion by 2030 Amid Technological Advancements - PR Newswire - March 4th, 2024 [March 4th, 2024]
- #ETFutureForwardME: Hiring and onboarding right with AI and automation, ETHRWorldME - ETHRWorld Middle East - March 4th, 2024 [March 4th, 2024]
- How Document Digitization, Process Automation Can Help Rebuild Trust - GovCIO Media & Research - March 4th, 2024 [March 4th, 2024]
- Iraq's Customs starts using ASYCUDA automation system in Umm Qasr - Iraqi News - March 4th, 2024 [March 4th, 2024]
- Robot Software Market: Powering the Future of Automation ,Analysis and Forecast 2023-2029 - WhaTech - March 4th, 2024 [March 4th, 2024]
- ImageSource Unveils ILINX AI for Intelligent Process Automation - PR Newswire - March 4th, 2024 [March 4th, 2024]
- The Evolving Landscape of APIs: Integration, Automation, and AI - EnterpriseTalk - March 4th, 2024 [March 4th, 2024]
- Gen AI isn't the only tech driving automation in banking - Finextra - March 4th, 2024 [March 4th, 2024]
- Navigating the Future: The Shift Towards Level 3 Automation in the Automotive Industry - Medriva - March 4th, 2024 [March 4th, 2024]
- Automation and Controls Market is Rapidly Growing with Huge Application Scope and Opportunities by 2030 - EIN News - March 4th, 2024 [March 4th, 2024]
- Winning the Game: Essentials skills to survive AI, LLMs and Automation - DataDrivenInvestor - March 4th, 2024 [March 4th, 2024]
- Industrial Metrology Market Set to Hit $17.96 Billion by 2030, Driven by Automation and Quality Demand - BNN Breaking - March 4th, 2024 [March 4th, 2024]
- Automation tools Archives - Milwaukee Community Journal - The Milwaukee Community Journal - March 4th, 2024 [March 4th, 2024]
- Industrial Automation Market to Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth - EIN News - March 4th, 2024 [March 4th, 2024]
- Lutra AI launches to make building automated AI workflows easy - SiliconANGLE News - December 9th, 2023 [December 9th, 2023]
- AI meets materials science: the promise and pitfalls of automated discovery - VentureBeat - December 9th, 2023 [December 9th, 2023]
- SPS Fair 2023 - The Latest Industrial Automation Trends - IoT Analytics - December 9th, 2023 [December 9th, 2023]
- Top WorkTech News From the Week of December 8th: Updates from Infor, Automation Anywhere, IFS, and More - Solutions Review - December 9th, 2023 [December 9th, 2023]
- Nividous and RCG Global Services Focus on Empowering Healthcare and Life Sciences Organizations with Intelligent ... - PR Newswire - December 9th, 2023 [December 9th, 2023]
- Automation and Communication to Streamline Deliveries - Supply and Demand Chain Executive - October 27th, 2023 [October 27th, 2023]
- Future of Employment in an Era of Automation - Drishti IAS - October 27th, 2023 [October 27th, 2023]
- From legacy to automation: Spirent's impact on network validation - ETCIO - October 27th, 2023 [October 27th, 2023]
- Genghis Grill Partners with Flybuy on Off-Premises Automation - FSR magazine - October 27th, 2023 [October 27th, 2023]
- Q&A: Workday exec talks hospitality and automated, scalable finance - Smartbrief - October 27th, 2023 [October 27th, 2023]
- Home Automation Market Size to Worth Around USD 788.33 BN by ... - InvestorsObserver - May 15th, 2023 [May 15th, 2023]
- Network automation market set to surge over the next decade - ChannelLife Australia - May 15th, 2023 [May 15th, 2023]
- Mitsubishi Electric agrees strategic investment in Otto Motors to ... - Robotics and Automation News - May 15th, 2023 [May 15th, 2023]
- Roots Automation Introduces InsurGPT - the World's Most Advanced ... - PR Newswire - May 15th, 2023 [May 15th, 2023]
- Research Shows Ways Digital Print and Automation Power Profitability - Printing Impressions - May 15th, 2023 [May 15th, 2023]
- Rockwell Automation Inc. stock outperforms market on strong trading day - MarketWatch - May 15th, 2023 [May 15th, 2023]
- Is It Too Late To Consider Buying Presto Automation Inc. (NASDAQ:PRST)? - Yahoo Finance - May 15th, 2023 [May 15th, 2023]
- U.S. Companies Embrace Automation and Digitization - CPAPracticeAdvisor.com - May 15th, 2023 [May 15th, 2023]
- Byron Centers SpartanNash Ups Customer Service with Robotic ... - DBusiness - May 15th, 2023 [May 15th, 2023]
- Why KYC automation is key to business growth strategies - FinTech Magazine - May 15th, 2023 [May 15th, 2023]
- Leading Ireland & UK Industrial Automation company NeoDyne ... - Process & Control Today - May 15th, 2023 [May 15th, 2023]
- Automation Testing Market: Industry Overview, Size, Share and ... - Digital Journal - May 15th, 2023 [May 15th, 2023]
- Accelerate your speed of business with IBM Event Automation - IBM Newsroom - May 15th, 2023 [May 15th, 2023]
- 3M Brings Innovation to the Manufacturing Supply Chain Environment - MarketScale - May 15th, 2023 [May 15th, 2023]
- Jitterbit Survey Reveals Low-Code Application Platforms Play an ... - GlobeNewswire - May 15th, 2023 [May 15th, 2023]
- Turning value into actions: How leaders can use automation and AI ... - Elite Business Magazine - May 15th, 2023 [May 15th, 2023]
- Automation will combat stagnation | theHRD - The HR Director Magazine - May 15th, 2023 [May 15th, 2023]
- MG Tech Unveils New Palletizer with Yaskawa Cobot and Rockwell ... - Packaging Strategies - May 15th, 2023 [May 15th, 2023]
- How automation technology helped Cainiao deliver more than 200 ... - Parcel and Postal Technology International - May 15th, 2023 [May 15th, 2023]
- IT Priorities 2023: Business automation intensifies as data ... - ComputerWeekly.com - May 15th, 2023 [May 15th, 2023]
- Milking Automation Market Size, Share And Growth Analysis For 2023-2032 - EIN News - May 15th, 2023 [May 15th, 2023]
- Digitise your SMEs for Success: How can HR Automation empower you to Stay Ahead of the Game? - People Matters - May 15th, 2023 [May 15th, 2023]
- Verified acquires Pliance to compliment digital signatures with AML ... - Biometric Update - May 15th, 2023 [May 15th, 2023]
- HireVue acquires Modern Hire to bolster hiring automation capabilities - HR Dive - May 15th, 2023 [May 15th, 2023]
- Advanced thermal imager for industrial automation, inspection ... - AZoM - May 15th, 2023 [May 15th, 2023]
- Warehouse Automation Survey 2023: More robots are coming to a ... - Modern Materials Handling - May 15th, 2023 [May 15th, 2023]
- Agriculture Automation and Control Systems Market Untapped ... - Digital Journal - May 15th, 2023 [May 15th, 2023]
- Himachal Pradesh Government Prioritizes Digitization and ... - TheNewsHimachal - May 15th, 2023 [May 15th, 2023]
- An IT Executive's Guide to Automation - free eGuide - Neowin - May 15th, 2023 [May 15th, 2023]
- Are You Looking for a Top Momentum Pick? Why Rockwell Automation (ROK) is a Great Choice - Zacks Investment Research - February 20th, 2023 [February 20th, 2023]
- Industrial Automation Sensors Market is Predicted to Hit a Revenue of USD 37.76 Billion by Growing with a CAGR of 9.12% During 2022-2028; Growing... - February 20th, 2023 [February 20th, 2023]
- Declining Stock and Decent Financials: Is The Market Wrong About Honeywell Automation India Limited (NSE:HONAUT)? - Simply Wall St - February 20th, 2023 [February 20th, 2023]
- What is Automation? - ISA - International Society of Automation - February 5th, 2023 [February 5th, 2023]
- Free Online PLC Training from AutomationDirect - February 5th, 2023 [February 5th, 2023]
- Investing in Rockwell Automation (NYSE:ROK) five years ago would have delivered you a 65% gain - Simply Wall St - February 5th, 2023 [February 5th, 2023]
- The Robotic Process Automation (RPA) Market size was valued at USD 2.27 billion in 2021 and is predicted to reach USD 18.69 billion by 2030, with a... - January 10th, 2023 [January 10th, 2023]
- Bill would give North Dakota manufacturers a tax break on automation - The Center Square - January 10th, 2023 [January 10th, 2023]
- I just watched McDonald's next step into automation and why are you so mad about it? - ZDNet - January 10th, 2023 [January 10th, 2023]
- What if your colleague is a bot? Harnessing the benefits of workplace automation without alienating staff - The Conversation - January 10th, 2023 [January 10th, 2023]
- Will Hollysys Automation Technologies Ltd (HOLI) Stay at the Top of the Industrials Sector? - InvestorsObserver - January 10th, 2023 [January 10th, 2023]
- Valmet Oyj : to supply automation to three waste-to-energy plants in Sungnam City, Korea - Marketscreener.com - January 10th, 2023 [January 10th, 2023]
- How Automation Can Bridge The Gap Between Internal Operations And Customer Service Excellence - Forbes - December 26th, 2022 [December 26th, 2022]
- The Global Industrial Automation And Control Systems Market size is expected to reach $301.8 billion by 2028, rising at a market growth of 10.0% CAGR... - December 26th, 2022 [December 26th, 2022]
- Introducing the Automation Kit for Power Platform - December 16th, 2022 [December 16th, 2022]
- Salesforce com : Launches Automation Everywhere Bundle to Help Companies Lower Costs, Boost Productivity, and Deliver Success Now - Marketscreener.com - December 2nd, 2022 [December 2nd, 2022]
- ACE Convergence Acquisition Corp. and Tempo Automation, Inc. Announce Closing of Business Combination; Tempo Automation Holdings, Inc. to Trade on... - November 27th, 2022 [November 27th, 2022]
- Global automation major Diebold Nixdorf expands presence in India with Bengaluru facility - The Economic Times - November 27th, 2022 [November 27th, 2022]
- Structural Health Monitoring Market Report 2022: Increasing Requirement for Standardization and Automation for the Repair and Maintenance of Civil and... - November 19th, 2022 [November 19th, 2022]
- The mining automation market size is expected to grow from USD 3.1 billion in 2022 to USD 4.2 billion by 2027; it is expected to grow at a CAGR of... - November 19th, 2022 [November 19th, 2022]
- Cisco study: Network teams look to SDN, automation to manage multicloud operations - Network World - November 16th, 2022 [November 16th, 2022]