BLACKLINE DELIVERS 140% ROI FOR QUEST DIAGNOSTICS
New case study from Nucleus Research highlights benefits of BlackLine's cloud software to streamline accounting processes
November 7, 2019 — BOSTON — Nucleus Research has published a case study showing solutions from financial automation software leader BlackLine (Nasdaq: BL) delivered 140% ROI for its customer Quest Diagnostics, with payback in 9.6 months.
Nucleus found that Quest Diagnostics “realized time savings and increased productivity across all of its accounting teams as they transitioned away from methods using paper and Microsoft Excel spreadsheets. BlackLine’s prebuilt workflows and user roles enabled Quest Diagnostics to process much larger amounts of financial data more quickly and with higher accuracy.”
Quest Diagnostics empowers people to take action to improve health outcomes. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, employing 46,000 employees.
Key benefits highlighted in the case study include:
“Quest’s deployment of BlackLine underscores the importance of data management in today’s business world,” said Andrew MacMillen, analyst at Nucleus and author of the report. “Because its financial data is centralized in a single tool, Quest can execute variance analysis on all of its subsidiaries at the same time and evaluate how and why the company is growing.”
- Increased user and team productivity. BlackLine’s functionalities have enabled Quest’s accountants to save time on matching and reconciling the hundreds of accounts in the company’s general ledger.
- Increased organizational visibility. By consolidating all of its financial data into one tool, Quest can now analyze the performance of the entire company instead of each individual business unit.
- Culture change. BlackLine’s prebuilt workflows have enabled Quest to define clear roles for each of its accountants, allowing teams to specialize and collaborate on tasks as needed.
See the full report at: https://www.blackline.com/assets/docs/uploads/blackLine-ROI-case-study-quest-diagnostics.pdf
About Nucleus Research
Nucleus Research is a global provider of investigative, case-based technology research and advisory services. We deliver the numbers that drive business decisions. For more information, visit NucleusResearch.com or follow us on Twitter @NucleusResearch.