Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world’s largest database of clinical lab results, their diagnostic insights help identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States and employs 46,000 employees.
Quest Diagnostics deployed BlackLine to streamline and modernize its accounting processes. The company realized time savings and increased productivity across all of its accounting teams as they transitioned away from methods using paper and Microsoft Excel spreadsheets. Nucleus found that BlackLine’s prebuilt workflows and user roles enabled Quest Diagnostics to process much larger amounts of financial data more quickly and with higher accuracy. Since implementing BlackLine, Quest Diagnostics has seamlessly carried out multiple company acquisitions without expanding its accounting staff.
Quest’s accounting teams were leveraging a combination of Microsoft Excel spreadsheets and paper filing systems to fulfill its monthly financial close obligations. Employees had difficulty tracking the status of account reconciliations, a challenge which was compounded as the company made acquisitions and added general ledger accounts. Before closing the books each moth, Quest’s employees would run a trial balance to identify areas that were not reconciled and needed more work. This process was both time and labor intensive and could not be supported as a permanent practice.