The Red Wing Shoe Company, an American footwear company, has been named a winner in the 2020 Nucleus Research ROI Awards after automating processes with BlackLine’s cloud-based modern accounting platform.
The company achieved 379% ROI automating processes with the platform, according to a study by global technology research and advisory services firm Nucleus Research.
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 gains, with payback in just 4.8 months and savings valued at over US$1.2M a year coming from increased productivity from reduced workloads, time savings from streamlined tasks and improved organizational visibility.
Founded in 1905, Red Wing Shoe Company is a premium quality work and safety footwear brand, currently distributing products to over 100 countries including at more than 4,000 US retail locations.
“Red Wing Shoe Company’s legacy accounting system lacked standardization and controls and as the company grew, managing their finance and accounting processes became increasingly inefficient and laborious,” said Isaac Gould, Analyst at Nucleus Research 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.”