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:
SiriusXM, so BlackLine’s cloud deployment and software-as-a-service
subscription model fit with SiriusXM’s purchasing requirements.
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.
were sure to arise in developing the solution it needed.
Purchasing hardware for its accounting department was not an option for
- 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
- Commitment to the customer. SiriusXM go the sense that BlackLine
would be a reliable partner to help it overcome the challenges that
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
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