Brighthouse to Share Its Accounting Journey at SAPInsider Financials 2020

As one of the largest providers of annuity and life insurance in the US, Brighthouse Financial has a long-term focus. They separated from MetLife to become an independent company in 2017 and set out to build a world-class infrastructure of people, processes, and systems.

This marked the beginning of their journey to modern accounting, and they’ll be sharing their story at SAPInsider Financials on March 17 at 3:50 pm. Here’s how they began fulfilling their mission of getting better every day.

Brighthouse selected SAP S/4HANA as their ERP foundation and identified the need for a complementary solution to modernize the accounting processes that were still manual.

Brighthouse ultimately chose BlackLine because it aligned well with SAP, and its robust capabilities would enable visibility, compliance, and automation for their accounting processes. They also wanted a runway to continuously improve and knew that BlackLine’s solutions could adapt easily and allow for future improvements and growth.

Like many other customers, Brighthouse started utilizing some BlackLine functionality at the beginning of their journey.

They implemented BlackLine’s Account Reconciliations and Task Management functionalities, which laid a foundation of visibility and controls, with certifications and month-end close calendar management, for their roughly 200 BlackLine users.

BlackLine’s Transaction Matching solution was the next step in their journey. By the middle of 2019, Brighthouse successfully brought in eight different data sources and over 7 million lines of data to address some of the most manual processes, including cash reconciliations, some clearing accounts, and intercompany accounting.

Brighthouse is planning to expand its use of BlackLine further in 2020, including using the Journal Entry functionality. From there, they will continue to optimize and identify additional use cases for automation as the business becomes ready.

Like many other customers, Brighthouse started utilizing some BlackLine functionality at the beginning of their journey.

They implemented BlackLine’s Account Reconciliations and Task Management functionalities, which laid a basic foundation of visibility, controls, certifications, and month-end close calendar management for their roughly 200 BlackLine users. BlackLine’s Transaction Matching solution was the next step in their journey.

By the middle of 2019, Brighthouse successfully brought in eight different data sources and over 7 million lines of data to address some of the most manual processes, including cash reconciliations, some clearing accounts, and intercompany accounting.

Brighthouse is planning to take advantage of additional automation functionality in 2020, including the Journal Entry functionality. From there, they will continue to optimize and identify additional use cases for automation as the business becomes ready.

Join us at SAPInsider Financials 2020 to hear the rest of this story directly from Brighthouse Financial on March 17 at 3:50 pm. They’ll be sharing even more of the impactful results they’re achieving as they move to modern accounting.