Leveraging BlackLine’s cross-product Functionality and Improving Financial Close Efficiency

SiriusXM considered a number of solutions including products from Oracle, Trintech, and Chesapeake Systems in addition to BlackLine. SiriusXM decided to work with BlackLine to build the capabilities it needed for several reasons:

  • Cloud-based. Purchasing hardware for its accounting department was not an option for SiriusXM, so BlackLine’s cloud deployment and software-as-a-service subscription model fit with SiriusXM’s purchasing requirements.
  • Modern user interface. Some of the solutions SiriusXM considered had user interfaces that were relatively dated.
  • Sophistication. Other solutions SiriusXM considered were too simplistic, and even though BlackLine’s solution was also not able to do everything that SiriusXM needed out-of-the-box, the company was confident that BlackLine could build out the capabilities to handle the volume and complexity that SiriusXM required.
  • Commitment to the customer. SiriusXM go the sense that BlackLine would be a reliable partner to help it overcome the challenges that were sure to arise in developing the solution it needed.

Upon selecting to work with BlackLine, SiriusXM spent the better part of 18 months working with the vendor to build out the solution to handle the volume of transactions that SiriusXM experienced. Ultimately, SiriusXM was able to match over 7 million transactions with 99.9 percent accuracy.

ERP

Oracle

Region

Canada

United States

Company Size

Enterprise

BUSINESS IMPACT

Automated approximately 50% of its journals; achieved 99.9 percent accuracy in matching automation process; configured rules that enable low-risk accounts, journals, and task certification; simplified financial close; reduced the time it takes to reconcile accounts and reports for decision-makers and compliance

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