SunTrust’s first step was bringing all reconciliations under a single umbrella. The shared services team was responsible for creating a shared services group that was expanded to include the preparation and review of reconciliations for all balance sheet accounts.
Yet centralization created new challenges. “Once we had moved from being decentralized to centralized, we suddenly had a need for increased visibility into the status of the reconciliation: the process, the preparer, and the reviewer,” said Shakora.
It was that need for visibility that led SunTrust to BlackLine. “Visibility was a significant selling point for us and what prompted us to choose BlackLine over other vendors,” said Shakora. “BlackLine’s technology has given us the ability to see all of our reconciliations in one place and report on that, and see how our open items are aging.”