"The platform provides sufficient reconciliation time savings, is cost effective, has low ongoing maintenance for user community, and requires very little IT involvement.”
When evaluating potential new solutions, Aviva Canada had several requirements. Any new technology had to provide expanded–and versatile—functionality in automated account reconciliations, account matching, reporting, and support services. In addition, the solution had to have low ongoing maintenance costs, including minimal IT involvement, and ease of usability to operate in a secure data environment. Finally, the solution needed to offer a single, safe repository for all reconciliation data that was accessible.
Aviva Canada partnered with BlackLine for several key reasons. While other vendors offered automated reconciliation functions, matching, and workflow, only BlackLine had built-in dashboards, a workflow that enabled seamless authorization, and user-defined business rules—all at half the cost of the competitor. In addition, BlackLine integrated seamlessly with Oracle with only minimal in-house IT support. References from other BlackLine clients finalized the decision. “We heard very good references from three of BlackLine’s existing clients,” said Amanda Lam, vice president, finance operations, at Aviva Canada. “We knew with BlackLine we could position Aviva Canada as a pioneer and drive a better reconciliation process within all Aviva companies.”
Saved more than $9k in 2014 (with expected $86k in savings for 2015), auto-certified 66% of reconciliations, improved customer service, limited time spent on non-value added work, improved visibility by creating a central repository for all reconciliations.