Many automotive organizations have far-reaching subsidiaries or divisions. These locations often have different ERP instances, bank files, currencies and reconciliation procedures, so managing a single, coherent process is extremely difficult.
One of BlackLine’s automotive clients has many different ERP instances from an array of vendors around the world. By using BlackLine, they were able to eliminate the tedious, error-prone process of manually tracking all of this data. Instead, information is automatically mapped into BlackLine and their reconciliations are pre-populated with accurate, relevant data. With the click of a button, they can drilldown to a certain entity or report at an aggregate level. And because BlackLine is a SaaS solution, it is available anytime, anywhere, so it can be used by teams around the world. This, along with the application’s multi-currency and multi-language capabilities, makes international deployments simple and easy.
Other automotive companies have a large number of intercompany transactions that they must manage each month. For this, BlackLine’s Transaction Matching module is crucial. This rule-driven tool automatically reconciles millions of transactions in minutes, leaving preparers with only their exceptions to address.
BlackLine’s automotive clients have also been active in applying BlackLine’s solution to their processes in creative ways. To learn more about all of BlackLine’s modules, see the Financial Close Suite.