Als AAA von Northern California, Nevada and Utah Insurance Exchange, auch bekannt als California State Auto Group, begann das Model Audit Rule, das im Januar 2010 realisiert wurde, vorzubereiten, war ihnen bewusst, dass sie die Governance Standards und Bestandteile von Sarbanes-Oxley (SOX) in ihr internes Kontrollsystem integrieren müssen. Sie konnten nicht weiterhin in Microsoft Excel arbeiten und monitoren. Sie brauchten einen compliance-angepassten Prozess, der dem Management Vertrauen in die Qualiät der internen Kontrolle geben würde.
AAA aimed to eliminate financial accounting challenges that are commonplace in most organizations. Their team objective was to rid the department of the use of multiple Microsoft Excel spreadsheets, manual processes, and a variety of independent systems. The ultimate goal was to increase the efficiency of reconciliations, remove delays in posting journal entries to the ERP system, reconcile daily and monthly exceptions, and comply with the Model Audit Rule.
The Insurance Exchange implemented BlackLine Account Reconciliations for balance sheet accounts, and uses Task Management to govern the month-end closing checklist. The auto-certification feature in BlackLine’s Account Reconciliation product helped the Insurance Exchange to achieve an exceptional level of efficiency with intercompany accounts and sub-ledger balances; better than 60% auto-certification. “We used to reconcile manually. Nobody has to review these accounts any longer,” says Jennifer Mash, business systems analyst, AAA Northern California, Nevada and Utah.
In step with Under Armour’s mission of relentlessly pursuing innovation, over the last two years the company has acquired several new mobile app businesses and aptly named this market “Connected Fitness.” For Boyle, these businesses — MapMyFitness (acquired in December 2013), MyFitnessPal and Endomondo (brought on in the first quarter of 2015), and Under Armour’s own app, UA Record — represent not only a new reportable segment, but also three new company codes that operate on completely different non-SAP ERP systems and need to be incorporated into the company’s monthly close process. Using BlackLine, the company has been able to gain visibility into account balances and important information regarding the newly acquired entities. “BlackLine has been really useful in terms of gaining quick visibility into the ending balances in each of the accounts, giving our leadership a chance to review transactional details and key account balances without having full integration of those other ERP systems,” says Boyle. “That will continue to evolve as we go forward.”
Goals: Adopt a less manual and more scalable approach to monthly account reconciliations and book closing processes, as well as journal-entry retention, support, and review
Strategy: Implemented a scalable, automated, cloud-based solution for account reconciliations, journal entry, and financial tasks that integrates with SAP ERP and delivers push-button reporting and real-time access to data
Outcome: Shaved days of work off the desks of Under Armour’s accounting employees, who are now able to spend more of their time analyzing balances, reviewing results, and ensuring relevance and accuracy, rather than monitoring completeness and executing administrative tasks