Case Study: Union Bank & Trust achieves 61% ROI and streamlines account reconciliations with BlackLine

Streamlining Reconciliations & Replacing an Inefficient Manual Process

Union Bank & Trust, a Richmond, VA-based bank with more than 100 branches, faced an inefficient, paper-heavy reconciliation process: teams tracked reconciliations in printed Excel binders that were transported between departments, stored off-site, and consumed significant time and materials. The bank’s goal was to centralize reconcilements in a single system to eliminate manual handling, reduce storage and supply costs, and improve review efficiency.

Union deployed BlackLine with a strategic implementation partner, loading more than 50% of accounts within six months, using a custom close schedule and account grouping to fit its needs. The change let finance staff reconcile more accounts without adding headcount, sped up audits, and cut storage and printing costs; Nucleus quantified an average annual benefit of $124,500, a 61% ROI, a 2.1-year payback, and a 3-year IRR of 33%.

Union Bank & Trust