Analyst Report
IDC MarketScape: Worldwide Office of the CFO Record to Report 2024 Vendor Assessment
BlackLine Named a Leader
The IDC MarketScape: Worldwide Office of the CFO Record to Report 2024 Vendor Assessment highlights the importance of the Record to Report (R2R) process and evaluates key vendors offering solutions to streamline financial operations. IDC named BlackLine a leader in R2R.
Why Record to Report Matters
The R2R process encompasses multiple financial activities, from data collection and reconciliation to final reporting and compliance. It is critical for:
- Ensuring financial accuracy and reducing reporting errors
- Improving compliance with global regulations, such as Sarbanes-Oxley (SOX) and Anti-Money Laundering (AML) laws
- Enhancing decision-making with real-time financial insights
- Reducing cycle time in financial close, allowing for faster and more efficient reporting
According to IDC’s 2023 Office of the CFO Survey, CFOs have identified revenue recognition, transfer pricing, and financial reporting analytics as top areas for improvement in the R2R cycle. This underscores the need for technology-driven solutions that automate and optimize financial processes.