3 Benefits of Integrating Kyriba & BlackLine

Blog contributed by Clearsulting

For forward-looking organizations, embracing technology is often a no-brainer. It helps eliminate manual tasks and human error, making room to focus on strategic tasks that add value. However, individual software solutions may only solve a portion of the puzzle. For companies seeking a true end-to-end treasury and accounting solution, it’s important to consider tools that work together to automate the full process, not just one part.

Enter Kyriba and BlackLine—two tools with unique capabilities that, with the proper setup, can integrate seamlessly to enhance treasury, accounts payable, intercompany, and accounting workflows. There’s no better match for end-to-end cash management, payments, and reconciliation.

We wanted to share why we think so—but also let you in on what one of our integrated clients has to say. Transformation Leader and client Joe Hogan speaks highly of these three capabilities.

Even though bank data is standardized via MT940, CAMT, and BAI2 formats, there’s still a level of nuance on how different banks present data within those frameworks. That means when you’re pulling these numbers for cash management and reconciliation purposes, you’ll be on the hook to decipher the distinction between data points.

Instead, routing your transaction data through Kyriba, regardless of format, allows for one single output that you can leverage for any processes down the line. And, in BlackLine, the flow is already there: routing bank data seamlessly for operational and period-end reconciliation purposes. Not to mention, you’ll only need to integrate your banks once!

Joe Hogan: “The benefit here is a single ‘black line’ instead of a ‘black web.’ Your treasurer controls all inflows and outflows to and from banks thanks to Kyriba’s functionality. And you can rely on that same pipe of bank data in BlackLine, simplifying your integration framework.”

That’s right. We’ve seen scenarios where Treasury pays for the same data that Accounting and Finance is requesting. We’ve also seen Accounting manually pulling portal information and paper statements to avoid the cost of electronic versions that your Treasury department has been receiving all along! Instead of feeding separate files to BlackLine and your Treasury Management System (TMS), Kyriba will route one consolidated file—saving you from duplicative cost.

Joe Hogan: “Besides cost alone, this level of process integration and alignment forces Treasury and Accounting to talk to each other. This design all but eliminates the risk of new bank accounts going unnoticed or unreconciled.”

If your bank data is being procured independently by your Treasury department and separately by your Accounting and Finance department, that’s double the risk of error within your data flow architecture. Look to systematic control (enter BlackLine and Kyriba) to strengthen confidence in your data.

Joe Hogan: “Treasury and control. TREASURY AND CONTROL! Liquidity will be better managed from end-to-end. These process areas will no longer be siloed functions—they will work more collaboratively and ensure cash is properly controlled at an entity level.”

If you’re curious what an integration might look like for you, check out our eBook: Your Intercompany Walkie-Talkie.

Clearsulting’s innovative problem-solving and proven technology workflows help finance leaders embrace digital to become better business partners. Acting as a link across your business, we connect your vision with the processes, technology, and systems that yield success. Our services take a digital-minded approach to push your business further.