Global Testing, Inspection and Certification Organisation, implementation of BlackLine to optimise reconciliation process
The client, a global testing organisation, managed their Balance Sheet reconciliation process through disparate Excel-based spreadsheets across multiple regions. This approach limited visibility for senior management, introduced inconsistencies in reconciliation quality and timing, and made it difficult to identify areas of financial risk or exposure. Additionally, the manual nature of the process created significant workload peaks around key reporting periods.
Continuate recommended and implemented BlackLine Reconciliations and Tasks globally to replace the legacy Excel-based approach. The implementation focused on creating a standardised global design and policy framework for Balance Sheet reconciliations, while leveraging automation and system integrations through the BlackLine D365 connector.
Approach
- Automate migration of historical reconciliations from Excel into BlackLine.
- Integrate BlackLine with Microsoft Dynamics 365 to ensure seamless data flows.
- Establish a global reconciliation policy, embedding best practices and a consistent design across all regions.
- Adopt a risk-based approach to determine reconciliation frequency, ensuring higher-risk accounts received greater scrutiny
- Utilise custom frequency functionality to distribute reconciliation workload more evenly throughout the quarter, reducing period-end peaks.
- Implement auto-certification functionality, achieving approximately 40% automation through standard BlackLine capabilities.
- Enable Task Management within BlackLine to monitor wider close activities and prompt user actions where required.
Outcome
- 40% of reconciliations auto-certified, reducing manual processing time.
- Global standardisation of Balance Sheet reconciliation and policy framework.
- Improved risk management, with real-time visibility of exceptions and exposures.
- Enhanced efficiency through D365 integration and task automation.
- Reduced period-end pressure, enabling a smoother, more sustainable close process
Key systems leveraged
