Case Study: OTC Markets, Inc. cuts month‑end close time by 50% and eliminates data‑entry errors with Binary Stream Subscription Billing Suite

OTC saves 15 days per month on financial statements with Binary Stream

OTC Markets Group, an American financial market providing price and liquidity information for nearly 10,000 OTC securities, faced an outdated, fragmented back-office made of Softrax, SBT and Excel that relied on manual processes and caused frequent data-entry errors, slow month-end closes, and limited reporting access. To meet auditor and shareholder requirements they selected Binary Stream’s Subscription Billing Suite integrated with Microsoft Dynamics to replace their patchwork systems and provide onsite implementation, training and support.

Binary Stream implemented Subscription Billing Suite embedded in Dynamics to automate contracts, billing, revenue recognition and reporting, eliminating duplicate entry and giving real-time data to sales, service and executives. The Binary Stream solution drove measurable gains: 0 average monthly data-entry errors, ~50% reduction in time to produce month-end financial statements (now within 15 days), reporting sped from as much as nine days after month end to two days, invoices generated within 24 hours, and more than 120 hours saved per month.

OTC Markets, Inc.

Michael A. Scocca

Controller