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BlackLine Sets New Standard with Addition of Trade Management Capabilities to its Intercompany Financial Management Solutions
An industry first, BlackLine Intercompany now addresses both trade and non-trade transactions, maximizing tax defensibility and increasing regulatory compliance
Intercompany is one of the most complex areas of finance, with audit and tax advisory firm Grant Thornton estimating intercompany transfers at 30 to 40 percent of the global economy or
BlackLine Intercompany solves these problems by harmonizing and unifying data across multiple ERPs, reducing tax filing time and effort and overall close cycles. As global regulatory issues, such as global minimum taxes and e-invoicing take center stage, BlackLine Intercompany provides a line of sight into all transactions, helping to ensure correct taxes are applied across entities and geographies for both the buyer and seller. To date, BlackLine Intercompany has helped numerous Fortune 100 organizations maximize tax reporting efficiency while enhancing regulatory compliance.
"Case studies show that our customers have reduced tax leakage by as much as
This new product enhancement makes BlackLine Intercompany the first and only solution to handle both trade (goods sold as part of a company's usual line of business) and non-trade (services such as allocations, chargebacks, BPO and shared services center billing) transactions, optimized for multi-ERP environments. The new functionality provides multinational organizations with greater tax defensibility and improved transfer pricing policy adherence.
Customers benefit from a range of new functionality, including:
- Increased interdepartmental collaboration via centralized data and workflow
- Increased transfer pricing visibility through billing route configurations
- Enhanced tax defensibility via validation of sales orders and invoices
- Informed, proactive decision-making through exception reporting
"As one of the top causes of financial restatements, addressing and minimizing intercompany transaction errors is critical for organizations to ensure a sound control environment," added Pakel. "The benefits for businesses are clear – less time reconciling which enables a faster close; fewer write-offs for increased profitability; less talent turnover; and improved transfer pricing policy adherence and tax defensibility for regulatory compliance."
The new trade management capabilities are included in
Companies come to
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Ashley Dyer, PR Director, BlackLine, 818-936-7166, email@example.com