Mid-Sized Enterprises Often Struggle to Adopt AI-Driven Financial Tools

Digital finance transformation leader BlackLine’s cloud platform and customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions to manage and automate financial close, intercompany accounting, invoice-to-cash, and consolidation processes – inspiring, powering, and guiding large enterprises and midsize businesses on their digital finance transformation journeys.

Jeremy Ung is the company’s CTO, and he oversees BlackLine’s global technology direction with an emphasis on enhancing BlackLine’s solutions for the Office of the CFO through connected data and AI-powered platforms that will accelerate the company’s ability to scale and continuously deliver customer value. In an exclusive interview with CiOL, Jeremy shares his perspective on the evolving finance-tech landscape, the power of AI, and how BlackLine is shaping the future of digital finance.

You joined BlackLine as CTO a year ago. What have been your biggest takeaways and challenges in this role so far?

One of the most significant takeaways has been reaffirming that people remain at the heart of driving successful transformation—AI is here to enhance decision-making, not replace human expertise. Additionally, the depth and complexity of financial transformation have been eye-opening. It doesn’t just affect CFOs; it also has far-reaching implications for technology teams, requiring strong alignment and adaptability. Bridging the gap between finance and technology has been both a challenge and a key opportunity.

How is digital finance perceived today? Do CFOs get the technological empowerment they need, or is there a disconnect in financial transformation efforts?

The landscape of digital finance is shifting towards autonomous finance, where AI-driven decision-making and data-centric strategies are redefining financial operations. According to the EY report How GenAI is Transforming Financial Services in India 2025, Generative AI is expected to increase productivity in financial services by 34% to 38% by 2030, with banking operations seeing the highest gains of up to 46%.

This transformation extends beyond traditional automation—such as risk forecasting and anomaly detection—to AI-powered predictive finance and self-optimizing financial operations. These systems do more than recommend actions; they execute them with human oversight, enhancing efficiency and agility.

Historically, digital transformation has prioritized areas like supply chain optimization, customer experience, and IT modernization, often leaving finance teams constrained by outdated processes and siloed data. Many CFOs still view AI and automation as IT-led initiatives rather than essential components of their financial strategy. As a result, finance teams often respond to digital trends rather than drive them.

The key shift now is ensuring CFOs have the autonomy and authority to lead AI-driven transformation. By equipping finance leaders with AI-powered, self-service tools, organizations can bridge the gap between CIOs, CTOs, and CFOs, reduce IT dependency, and empower finance teams to make real-time, data-driven decisions with greater confidence and precision.

From your experience, do CIOs and CFOs work closely together, or is there still a disconnect? How does BlackLine approach financial transformation?

There is often a disconnect between CIOs and CFOs, as financial transformation has traditionally been viewed as an IT initiative rather than a strategic function of finance. While CIOs manage enterprise systems and data flows, CFOs rely on this data for reporting and decision-making. This siloed approach creates inefficiencies, forcing finance teams to depend on IT for access to critical financial data.

At BlackLine, we are bridging this gap by empowering CFOs with AI-powered, self-service financial automation tools. By reducing reliance on IT, these solutions enable finance leaders to access insights directly and streamline operations. We are moving beyond rule-based automation to AI-driven financial intelligence, where AI not only detects anomalies but also recommends and executes financial actions with human oversight.

A key part of our strategy is predictive AI, which helps CFOs transition from reactive to proactive financial management. AI-driven insights allow them to anticipate cash flow fluctuations, compliance risks, and inefficiencies before they escalate. To address data fragmentation, BlackLine unifies financial data from multiple ERP systems, cloud platforms, and legacy infrastructures into a single AI-powered hub, ensuring consistency and visibility.

By providing low-code and no-code AI tools, we enable finance teams to configure reconciliation, anomaly detection, and reporting independently. With AI-powered risk and compliance management ensuring transparency, BlackLine is redefining digital finance—bridging the CIO-CFO gap and driving a more intelligent, data-driven future.

What is BlackLine’s strategy in India, and why is this market important?

India is a key market for BlackLine, both as a hub for technology innovation and as a rapidly expanding customer base. The country’s digital transformation, particularly in financial services, presents a significant opportunity for AI-driven automation. Our recent expansion in Bangalore reflects our long-term commitment—not just as a sales hub, but as a centre for global product innovation and customer engagement.

At the core of our strategy is establishing Bangalore as a global development centre. Unlike traditional offshore support functions, this centre is designed to drive end-to-end product innovation, leveraging India’s deep tech talent and startup culture. By fostering a culture of ownership, creativity, and entrepreneurship, we aim to build a world-class technology team shaping the future of AI-powered financial automation.

Beyond technology development, India is a crucial market for customer engagement. As multinational corporations (MNCs) and local enterprises increasingly adopt cloud-native, API-driven financial automation, BlackLine is positioning itself as a strategic partner in their transformation. To meet growing demand, we are rapidly scaling operations. Over the next three to five years, we envision Bangalore evolving into an independent global development centre with full ownership of product areas and customer success functions.

How are AI and ML shaping digital financial transformation? Can you share real-world use cases?

AI and machine learning are reshaping digital finance, moving beyond traditional automation to AI-driven decision-making and autonomous operations. These technologies not only streamline manual processes but also empower finance teams to predict risks, identify anomalies, and optimize workflows in real time. BlackLine is driving this transformation by embedding AI into financial processes to enhance accuracy, efficiency, and strategic decision-making.

One of AI’s most significant applications is automating the financial close process. AI-driven systems streamline reconciliations, journal entry management, and variance analysis, reducing manual effort and improving accuracy. Unlike rule-based automation, AI continuously learns from historical data to detect patterns and flag discrepancies before they escalate.

Risk detection is another critical area. Machine learning models analyze vast financial datasets to uncover anomalies that may indicate fraud, accounting errors, or inefficiencies. By identifying irregularities early, organizations can proactively maintain financial integrity and compliance. AI-powered predictive analytics also help finance teams anticipate regulatory risks, ensuring they stay ahead of evolving compliance requirements.

Beyond compliance, AI enhances decision intelligence. Generative AI provides finance leaders with real-time insights and predictive forecasting, enabling more informed strategic decisions. By consolidating fragmented financial data across ERP, treasury, and payment systems, AI breaks down silos, creating a seamless digital finance ecosystem. BlackLine’s API-driven AI tools further streamline workflows, ensuring finance functions operate with greater agility, insight, and confidence.

How is BlackLine making AI-driven financial tools more accessible to mid-sized enterprises?

Mid-sized enterprises often struggle to adopt AI-driven financial tools due to limited IT resources, expertise, and budget constraints. Unlike large corporations with dedicated finance and technology teams, they need solutions that are both powerful and easy to implement. As a global leader in financial automation, AI-driven decision-making, and data intelligence for the Office of the CFO, BlackLine is committed to making AI-powered finance solutions accessible, scalable, and cost-effective.

A key way BlackLine enhances accessibility is through pre-built AI workflows. Instead of requiring complex configurations, we provide ready-to-use AI-driven workflows for reconciliation, journal entries, and variance analysis. These solutions accelerate deployment, reduce manual effort, and allow finance teams to focus on strategic tasks.

Scalability is crucial for mid-sized businesses, which need solutions that grow with them without heavy infrastructure investments. BlackLine’s cloud-native architecture enables seamless adoption of AI-powered financial tools. Additionally, our partnerships enhance data interoperability, making it easier for mid-sized companies to connect financial data with AI-driven insights for better decision-making.

BlackLine is committed to investing in reliable AI that delivers real business value. Featured investments include agentic AI experiences such as Insights Agents, Summarization Agents, and Conversational Querying Agents. These will autonomously handle routine financial tasks, improving efficiency without requiring dedicated IT teams. Our AI-driven compliance tools also proactively identify risks, helping mid-sized enterprises navigate regulatory complexities with confidence.