Nucleus Research, a global provider of ROI-focused technology research and advisory services, today published a case study showing BlackLine, Inc. (Nasdaq: BL), a leading provider of cloud software that automates and controls the entire financial close process, delivered 379% ROI for its customer Red Wing Shoe Company, Inc., with payback in 4.8 months.
Nucleus found that after deploying BlackLine’s Tasks, Reconciliation, Journal Entry, and Transaction Matching solutions to streamline its finance and accounting processes, Red Wing Shoe Company’s corporate finance, retail finance, and accounting teams achieved significant productivity gains, with savings valued at over $1.2M each year.
Red Wing Shoe Company, Inc. is a premium quality work and safety footwear brand. Founded in 1905, the American company manufactures and retails its shoes, and operates its tannery along with two domestic manufacturing facilities. Red Wing Shoe Company currently distributes its products to over 100 countries and over 4,000 U.S. retail locations, including company-owned, dealer-owned, and branded stores.
“Red Wing Shoe Company’s legacy accounting system lacked standardization and controls and as the company grew, managing the financial processes became increasingly inefficient and laborious,” said Isaac Gould, analyst at Nucleus and author of the report. “BlackLine enabled Red Wing Shoe Company to achieve organizational visibility by unifying all its finance and accounting processes and data in a single location, as well as implement standardization and controls over its workflows.”
Key benefits highlighted in the case study include:
- Increased productivity from reduced workloads. BlackLine’s Account Reconciliations enables accountants to reduce the number of reconciliations by creating account and cost center combination groupings. Red Wing Shoe Company reduced the volume of monthly account reconciliations by over 7,000.
- Time savings from streamlined tasks. With BlackLine’s platform, Red Wing Shoe Company has built standardized workflows to facilitate and automate its finance and accounting processes, saving staff, managers, and directors a total of 1,500 hours each year, which they can dedicate to other value-adding tasks.
- Improved organizational visibility. By unifying its finance and accounting information under BlackLine’s platform, Red Wing Shoe Company’s employees now have access to a central repository for all financial close activities.
See the full report at: https://nucleusresearch.com/research/single/blackline-roi-case-study-red-wing-shoe-company/
About Nucleus Research
Nucleus Research is a global provider of investigative, case-based technology research and advisory services. The company’s ROI-focused research approach provides unique insight into the actual results technology solutions deliver, allowing organizations to cut through marketing hype to understand real operational value and select or renew the best technology solution for their environment. For more information, visit NucleusResearch.com.