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, Inc. (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://nucleusresearch.com/research/single/blackline-roi-case-study-quest-diagnostics/

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.

About BlackLine

BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralising and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize enterprises.  Designed to complement ERP and other financial systems, BlackLine’s cloud platform increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation.

BlackLine’s mission is to continuously improve the quality, accuracy and efficiency of Finance and Accounting by centralising key functions within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities. BlackLine helps companies modernise accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.  To date more than 2,800 companies with users in over 130 countries around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements.

BlackLine is recognized by Gartner as a Leader in its 2019 Magic Quadrant for Cloud Financial Close Solutions.

Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney servicing its 14 global locations.For more information, please visit https://www.blackline.com/.

MEDIA CONTACT:

Ashley Dyer
Sr. Public Relations Manager
P. 818.936.7166
E: ashley.dyer@blackline.com