“Our accounting is split between Lisbon and Porto with 25 people controlling, checking and manually managing the close processes. This means we struggle to be efficient and consistent each period close” explains Carlos Norte, Accounting Manager, EDP Valor. “We have 2 versions of SAP and knew that we had to have a system that would provide a template approach to ensure compliance with our policies and procedures. We wanted a software that could offer us a solution today but partner with us as we grow. BlackLine fit the bill as we could implement the software process by process.”
EDP Valor opted to start their transformation with Account Reconciliations. Within a very short period of time over 50% of the reconciliation work was auto certified, the time saving will allow the team to focus on the next phase, automating the journal entry process.
Carlos knew that as SAP is the primary ERP for EDP Valor the integration between BlackLine and SAP was a critical element in the decision to partner with BlackLine. This integration will allow, in the near future, the real-time posting and automation of journals, workflow and task management to really get ROI from the investment. With 9000 journals being posted manually the ability to automate a high percentage of these will be where the company realizes the most benefit in getting time back to focus on the high value accounts where the risk for a business lies.