The BlackLine Intercompany Hub provides a centralised real-time system that allows organisational units to raise, approve, review and reconcile intercompany transactions in any currency and in any geographic location. This removes the biggest bottleneck in the intercompany reconciliation task list and replaces it with a fully integrated process.
The BlackLine Intercompany Hub solves this by acting as an organisational ‘clearing house’ for all intercompany transactions. This can be across geographic locations, different currencies and can operate as near to real time as required. This hub provides connect-ability between the disparate systems in use around the organisation.
The Intercompany Hub is interfaced with all the organisational ERP systems and is the source for all intercompany transactions thus ensuring automatic balancing between entities. Currency rates can be drawn from the ERP system to ensure the correct rates are used. Processing can be real-time to ensure timely entry of transactions into the records. Invoices, journals and other documentation are available with standard and customisable templates that are then auto-generated by the system and posted to the relevant entity’s ERP system. Full complexity is included in terms of accounting for currencies, taxation and other requirements.
This central hub provides all the controls required for regulatory and business processes and also provides full auditability. Visibility of the global operations can also be seen from this single system.