Implementing Controls and Standardization in Global Businesses across 14 Countries

Mark Koolis, power segment assistant controller at Hubbell Inc., and his team searched for a software solution that would enable them to standardize, automate, and simplify the close process while simultaneously increasing visibility. When the decision came down to two vendors, BlackLine and a competitor.

“While the competitor said they could tweak things for us, customize this and that because our users wanted to retain that ability, we knew that was exactly what we were trying to avoid. We wanted our people in the United States, China, and other countries to do reconciliations in the same way. We didn’t want them to be able to change the process to fit their preferences,” said Koolis. “BlackLine offered us both control and standardization, which was critical to ensuring a squeaky clean balance sheet.”

The decision to partner with BlackLine was also influenced by BlackLine’s commitment to both customer service and continuous innovation. “The BlackLine Community is a perfect example of how BlackLine is focused on meeting customers’ wants and needs. With BlackLine, we knew that we weren’t simply buying a product to help our business with account reconciliations. We were partnering with a company that was invested in improving our overall financial close process from beginning to end.”

Industry

ERP

Region

Global

COMPANY SIZE

Enterprise

BUSINESS IMPACT

Implemented strong controls and process standardization, increased visibility, reduced risk, ensured accountants performed tasks correctly and on time.

DOWNLOAD SUCCESS STORY

Why BlackLine

Koolis and his team searched for a software solution that would enable them to standardize, automate, and simplify the close process while simultaneously increasing visibility. When the decision came down to two vendors, BlackLine and a competitor.

“While the competitor said they could tweak things for us, customize this and that because our users wanted to retain that ability, we knew that was exactly what we were trying to avoid. We wanted our people in the United States, China, and other countries to do reconciliations in the same way. We didn’t want them to be able to change the process to fit their preferences,” said Koolis. “BlackLine offered us both control and standardization, which was critical to ensuring a squeaky clean balance sheet.”

The decision to partner with BlackLine was also influenced by BlackLine’s commitment to both customer service and continuous innovation. “The BlackLine Community is a perfect example of how BlackLine is focused on meeting customers’ wants and needs. With BlackLine, we knew that we weren’t simply buying a product to help our business with account reconciliations. We were partnering with a company that was invested in improving our overall financial close process from beginning to end.”

The Results

Implemented strong controls and process standardization across multiple business units. Prior to BlackLine, Hubbell’s local offices performed reconciliations in vastly different ways. Today, with BlackLine, Koolis and his team know that the close is standardized across all business units, regardless of location, language, or currency. “BlackLine has strengthened our internal control environment. When we’re talking account reconciliations, the bread and butter of our balance sheet, it’s really about standardization and simplification. With BlackLine, we can do it the same way everywhere across the globe,” said Koolis. “We don’t just talk about SAP or HFM anymore. We talk about BlackLine, too. It’s become part of our culture.”

Increased visibility. With BlackLine, Koolis and his team can now instantly see where they are in the close process, without waiting hours for a report from a business unit in a different time zone or country. “We have real-time visibility now,” said Koolis.

Reduced risk. By implementing BlackLine in over 40 businesses, 5,000 GL accounts, and 200 users, Hubbell increased not only consistency of process but accuracy overall. “Previously, we were exporting from our local ledger and uploading into HFM. There was always the risk that numbers could be manipulated,” said Koolis. “With BlackLine, we’ve eliminated the majority of the reconciliation that happens at the local levels. We’ve automated much of the process and enhanced our reconciliation quality and supporting documentation. It’s made our audit team very happy.”

Ensured accountants performed tasks correctly and on time. Hubbell’s highly localized close processes meant that Koolis and his team had little visibility into accountant performance. “Before BlackLine, I didn’t know if everyone was doing what they were supposed to be doing. I wasn’t impressed with the reconciliations or with the support provided to clarify account balances. There was more work upfront because everyone was doing the same thing a different way, and most times didn’t have the supporting documentation readily available. With BlackLine, we’ve strengthened our internal control environment.”