Case Study: Haven Savings Bank achieves 900 hours/month time savings and 99% on-time GL reconciliations with BlackLine

Saving 900 Hours Every Month & Achieving On-Time Completion of Reconciliations

Haven Savings Bank, a New Jersey community bank, faced an outdated, manual close process: accountants relied on paper notes and multiple Excel files, daily reconciliations took about 45 minutes each (Federal Home Loan Bank work nearly an hour daily), and limited visibility and coordination often delayed month-end closings.

The bank implemented BlackLine (Account Reconciliations, Transaction Matching, Task Management, Journal Entry and Variance Analysis) with a consultant-led rollout and staff training. Within two closes they automated matching and reconciliations, standardized processes, and streamlined journal entry—saving up to 900 hours per month on one account, reconciling 99% of GLs before close, improving morale, and freeing staff for more value-added work.

Haven Savings Bank

Thomas Buthorn

VP, Controller