With Rimilia, Blackline strengthens its market position in controlling by enabling end-to-
End automation of the cash lifecycle is advanced and greater data integrity is ensured. With the acquisition, Blackline expands into an adjacent area by enabling financial close automation through AR-
automation is supplemented.
This will also accelerate Blackline's long-term plan for finance and accounting transformation and modernization. Rimilia provides accounts receivable automation solutions, enabling companies to control cash flow and cash collection in real time. Using artificial intelligence (AI) and machine learning, the SaaS platform simplifies the order-to-cash process by automating both the collection and allocation of funds.
"With most companies using traditional and repetitive manual processes for order-to-cash management, our customers and partners have long asked for a solution that provides better cash and liquidity management. This is especially important during difficult economic times", says Marc Huffman, president and COO of Blackline.
"With this acquisition, we are meeting that customer need."
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