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Capgemini Teams With BlackLine To Help Organizations Streamline F&A

Capgemini, BlackLine To Help Streamline F&A

In an effort to help organizations optimize their accounting and finance procedures, Capgemini has joined forces with BlackLine Inc. for a global strategic alliance. Companies will be able to keep taking in, validating and offering timely as well as correct financial information needed for reporting with the centralization of key financial and accounting (F&A) operations in the cloud platform of BlackLine, according to an announcement.

“This collaboration will play a critical role in the expansion of our finance and accounting capabilities. It is a positive step that enhances Capgemini’s best-in-class Digital Global Enterprise Model, and our Record to Analyze capabilities,” said David Lumley, head of the Finance Powered by Intelligent Automation Practice for Capgemini’s Business Services Global Business Line. “It reinforces our customer-centric approach by driving improved outcomes for today’s rapidly changing business environment.”

Capgemini said it would provide additional flexibility to its customers, as it assists them with transitioning from traditional manual accounting procedures to a modern accounting experience. As it stands, BlackLine and Capgemini are working together on an Capgemini customer based in the United States in the chemical vertical to bolster its utilization of the account reconciliation, journal entry, task management and Smart Close technologies of BlackLine.

BlackLine’s technologies, which are based on the cloud, change F&A by automating, simplifying and centralizing intercompany accounting processes, financial close work and other essential procedures.

Marc Huffman, BlackLine president and chief operating officer, said in the announcement, “As a world leader in digital transformation and technology services with presence in approximately 50 countries and an extremely strong presence in Europe, Capgemini is at the forefront of innovation and well-positioned to address the entire breadth of client opportunities.” Capgemini, for its part, has 270,000 team members in nearly 50 nations.

In separate news, the Competition Commission of India (CCI) gave the go-ahead of the merger of Capgemini and Altran Technologies SA per news last September. The total cash consideration was to come out to €3.6 billion, with the exclusion of net financial debt per news at the time.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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