Mergers, Acquisitions, Partnerships - March 2022

Redefining intercompany accounting

With FourQ, BlackLine is expanding its existing automation capabilities for intercompany accounting.

Global trade, mergers and acquisitions and ever-changing tax regulations are causing increasing headaches for global F&A teams. As a result, intercompany accounting - the management of financial
transactions between separate legal entities belonging to the same group - has become a major challenge for the valuable F&A resources of multinational companies and has moved into the global spotlight. The complexity inherent in the intra-group management of finance creates an unsustainable operating environment for companies seeking to modernize their F&A operations.

With the acquisition of FourQ, BlackLine can further reduce complexity between the companies and support clients in implementing an effective global tax strategy. "Intercompany accounting is one of the biggest hurdles for the finance and accounting departments of multinational groups"says Marc Huffman, CEO of BlackLine. "Finance and accounting must become more flexible in order to be able to react to the constantly changing market dynamics and regulatory requirements."