To address the close challenges—and to begin reducing the cost of finance overall—Aker Solutions conducted a maturity assessment. Staff reviewed leading finance practices and compared those to existing ones. Ten improvements were identified as critical, including increasing automation and integration, standardizing processes, enabling financial reporting, and improving the process and timeliness of the close.
To address the close specifically, the finance organization evaluated solutions designed to automate and standardize reconciliations, including SAP, BlackLine, Trintech, and Runbook. When BlackLine and SAP presented a joint offer, Aker Solutions saw an opportunity to increase its return on investment on its existing SAP system. BlackLine itself was also a strategic fit with OneAker, the company’s solutions and business model. Finally, online training via BlackLine U ensured everyone in the finance organization could easily access training as needed.