BlackLine’s application is a key component of an accurate and efficient financial close with proven ROI. For example, one large food manufacturer used the following justification for purchasing the Financial Close Suite:
This company completed approximately 10,000 reconciliations per month. Each reconciliation averaged, with supporting documentation, five printed pages. As a result, the company counted on printing at least 50,000 pages each month. At a cost of 10 cents per page, taking into account paper, ink, and printer purchasing and maintenance, the cost of a paper-driven reconciliation process was calculated to be at least $5,000 per month.
Purchasing BlackLine was simple. By accessing and certifying reconciliations electronically, the company was able to avoid not just a final printing, but also all intermediate print functions. Having justified the cost of the system by paper savings alone, this manufacturer also realized a number of other benefits, including risk mitigation, reduced labor costs, visibility and transparency into the process.
BlackLine also enables its food and beverage clients to easily assign and manage tasks and checklists; foster collaboration; create, approve, and post manual journals; satisfy SOX requirements; and streamline bank reconciliations with automated transaction matching. BlackLine’s ability to deliver tremendous ROI can make a difference in this competitive industry.
Learn more about BlackLine’s Financial Close Suite and the accounting software many food and beverage companies use.