When the results of an engagement study showed that employees were very unhappy with the company’s existing technology, Western Union began the search for an updated reconciliation solution. “Employees wanted a single, one-stop shop application with templates within the system that they could populate and then attach and send to reviewers,” said Shay Carroll, accounting director GSAS, Western Union.
Carroll and his team received a list of best-in-class vendors from KPMG. “We narrowed the list down to three and had demos from each. Users couldn’t make up their minds, so we asked for a second round of demos,” said Carroll. “We were then down to two, but it was still neck and neck. Users said they wanted to use each application first before deciding.”
The company ran a side-by-side comparison, giving 30 users the same accounts to reconcile in each solution. “We ran another survey after people had used both solutions, and the survey came back with 80% of people in favor of BlackLine,” said Carroll.
Western Union rolled out Account Reconciliations over a period of four months. The company offered training through BlackLine’s university and did six webinars. “Change management is key. Our users had selected BlackLine, so had they skin in the game. We had buy in before we rolled it out,” said Carroll.
Instead of changing all accounts simultaneously, the company did a limited parallel run, adding 20 new accounts every month. “We were impressed by how well it went. I was expecting 12 months of grief. Four months in, we turned off the old system because users just started doing 100% of their reconciliations in BlackLine.”
Improved workflow efficiency and employee productivity; increased compliance to 99.8%; enabled access to all records, from anywhere in the world; gained ability to reconcile in multiple currencies.