In 2019, Proctor Loan Protector was on the verge of rapid growth. While still reliant on spreadsheets to manage complex reconciliations, the treasury team felt they were holding the company back with manual processes that couldn’t scale during its period of rapid expansion.

“Our processes were highly manual and weren’t scalable,” says Cyndi Dorsey, treasury director. “We’d maxed out our spreadsheet capabilities.”

The lack of automation stood in the way of the team’s “path to success,” says Alan McAnally, CFO.

“We knew our existing process wouldn’t be able to support a rapidly growing business. Fiduciary bank accounts have to be reconciled within the bank account at the loan-level detail. We were moving two to three billion transactions through clearing accounts, manually. Our solution was no solution.”

The team wanted to “move faster,” increase accuracy, and decrease risk. A neighboring fintech suggested BlackLine. “BlackLine would help us automate and enable scalability. It also integrates with Kyriba, our treasury management solution,” says McAnally.

During implementation, the team not only engaged consultant Clearsulting as an external project manager, but also brought on board numerous in-house stakeholders. “We invited a broad group, including our CEO and the leader of IT, to work with us during implementation. We wanted everybody’s input. This was one project we knew we couldn’t do alone,” says McAnally.