The Challenge
The Global Finance Operations Division (GFO) of The Coca-Cola Company manages more than 50,000 GL accounts. Yet multiple systems and approaches to the reconciliation process created serious challenges for the global company.
The company began its search for a cloud-based, globally accessible reconciliation solution. Blackline solution was selected.
The company created a global business process lead role to drive implementation in all plants.
Reduced number of employees involved in reconciliation by 55%. Previously, the monthly financial close process required the help of 800 employees across shared services, manufacturing plants, and business units. By using BlackLine, The Coca-Cola Company has reduced the number of employees who were involved in manual and routine reconciliations to 360, a 55% reduction.
Saved $0.6 million per year through increased productivity.
https://www.blackline.com/customers/the-coca-cola-company/
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