Spending More Time Analyzing Balances and Reviewing Results

Air Medical Group Holdings LLC (AMGH) knew they needed to significantly automate their close process, yet any new technology had to integrate seamlessly with their existing MAS500 system. As resources across the entire organization were limited, the solution also had to allow for the automated flow of data from and to their ERP without intervention from an already strapped IT team.

The accounting team heard about BlackLine from a consultant who had previous experience with the company’s financial close and reconciliation service. Endorsements from the consultant and SAP—BlackLine is one of fewer than 40 solutions globally endorsed by the ERP leader—led to AMGH implementing BlackLine’s Account Reconciliations and Transaction Matching products.

AMGH now manages their entire close process through BlackLine. Via BlackLine’s MAS500 Connector, accounting teams can easily import general ledger account balances and current rates directly from their ERP. Data is automatically formatted—without any assistance from IT—to be used within BlackLine for reconciliation and transaction matching.

ERP

MAS500

Region

Vereinigte Staaten

Company Size

MidSize

Business Impact

Reduced hours spent on reconciliations by 50%, streamlined schedule preparation, increased visibility.

More Growth in the Playbook

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.”

The Results

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

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