According to independent research, Cox Communications achieved a return on investment (ROI) of 227 percent on financial software from BlackLine Systems.
Cox, the nation’s third-largest cable operator, has deployed BlackLine’s account reconciliation and task management software to streamline its accounts payable, accounts receivable and payroll processes.
While Cox has an Oracle E-Business Suite 11i financials and PeopleSoft payroll ERP backbone across 18 different field locations, each office had developed its own processes and formulas to perform balance sheet account reconciliations for the company’s 30,000 accounts, according to BlackLine. This required manual extractions of data from different applications, such as accounts payable, accounts receivable and payroll, resulting in an inefficient monthly financial close process.
Cox deployed BlackLine’s software modules enterprise-wide to automate its reconciliation process and simplify the monthly financial close. The benefits, according to BlackLine, included improved productivity and less reliance on outside consultants, and better data access and standardization with more insight into financial processes for a faster, more efficient month-end close.
Nucleus Research conducted the case study for BlackLine.
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