Improving Invoice-to-Cash Processes with BlackLine

More than ever before, finance teams are under tremendous pressure to operate more efficiently while also delivering improved insights to decision-makers at the top of their organisation. This can prove to be difficult, as many of these teams are operating with the same size of teams and budgets that they have had for years.

These competing factors have led many SAP organisations to look for new strategies that allow them to remain competitive with their competition and even grow. Companies must use every tool at their disposal to improve efficiency by minimising manual and inefficient workflows. One of the areas where organisations can streamline their operations the most is within the invoice-to-cash process.

Improving Invoice-to-Cash

The invoice-to-cash process encompasses the entire customer payment cycle, all the way from invoice to payment. Companies may face several different issues throughout this process, including:

• Siloed data sources – Many companies still struggle with incomplete data sets sitting in different locations. This can make it difficult for organisations to get a full picture of the process.
• Inefficient manual processes – Working with spreadsheets is a recipe for manual errors, whether that is inaccurately entered data or transcription errors that can throw off payments.
• Lack of insights – These manual and siloed data can make it difficult for stakeholders to get an end-to-end picture of their financial standing. This can hamper their ability to steer their organisations the right way.

These invoice-to-cash issues can stack up over time, leading to delays and misunderstandings with vendors and clients. Without accurate information, it can be nearly impossible to efficiently and effectively execute the financial close.

Streamlining Invoice-to-Cash for an Improved Financial Close

More and more, SAP organisations are realising that their invoice-to-cash process is untenable, so they are turning to BlackLine and its Invoice-to-Cash solution. It allows companies to implement improved processes that can directly benefit the health and accuracy of the financial close.

By leveraging intelligent automation, BlackLine helps users invoice, collect, and apply payments faster than ever before. When inefficient workflows are digitally overhauled, they are able to get a full view of the entire invoice-to-cash process by integrating and verifying all data sources.

This solution also provides decision-makers with reports and analytics on payment data, helping them make decisions more proactively. When data is more readily available, companies can enhance cash flow predictability and better manage their liquidity.