Company evaluated across 'agility/performance, analytics, complex FC processes support, support and vendor satisfaction, ease of implementation, ease of maintenance/upgrade, ease of use, EMEA/regulatory support, integration, medium FC processes support'
LOS ANGELES, Nov. 14, 2019 /CNW/ - Financial controls and automation software leader BlackLine, Inc. (Nasdaq: BL) has been rated highest in the Large and Global Organizations use cases in Gartner's recently released 2019 Critical Capabilities for Cloud Financial Close Solutions* report.
The report examines the capabilities of 10 vendors/products to meet the needs of organizations in distinct use cases. BlackLine was ranked highest in the Large Enterprise and Global Enterprise use cases and scored No. 2 and No. 3 respectively for Upper Midsize and Business Unit use cases.
"We believe that this acknowledgement, on the heels of our recent positioning by Gartner as a Leader in its Magic Quadrant for Cloud Financial Close Solutions, further validates us as a market leader and true strategic advisor to our valued customers," said BlackLine CEO Therese Tucker. "We are gratified that we've been recognized by Gartner and think this shows that BlackLine is helping global organizations automate and streamline critical Finance & Accounting processes as a key enabler for their broader digital finance transformations."
The Critical Capabilities report is a companion piece to Gartner's 2019 Magic Quadrant for Cloud Financial Close Solutions** in which BlackLine was named a Leader and also positioned highest for 'Ability to Execute' for the third year in a row. To access a complimentary copy of the 2019 Magic Quadrant for Cloud Financial Close Solutions go here.
Gartner estimates that "by 2023, 60 percent of upper midsize organizations (with $500 million to $1 billion in revenue) and large organizations (over $1 billion) will employ cloud-based applications to improve their financial close processes."*
Nearly 245,000 users across nearly 2,900 companies worldwide currently use BlackLine's cloud solutions to increase accountant productivity, reduce risk, elevate controls and compliance functions and modernize their Finance & Accounting operations. In 2018 alone, more than 187 million reconciliations were auto-certified and over 3.5 billion transactions matched by BlackLine customers.
*Gartner "Critical Capabilities for Cloud Financial Close Solutions" by Robert Anderson, John E. Van Decker, Greg Leiter, 11 November 2019.
**Gartner "Magic Quadrant for Cloud Financial Close Solutions" by Robert Anderson, John E. Van Decker, Greg Leiter, 21 October 2019. This report was previously titled "Magic Quadrant for Cloud Financial Corporate Performance Management Solutions."
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
BlackLine, Inc.'s (Nasdaq: BL) cloud-based solutions transform Finance and Accounting (F&A) by automating, centralizing and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large enterprises and midsize organizations. Designed to complement virtually all ERP and other financial systems including SAP, Oracle and NetSuite, BlackLine increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation from within a single, unified cloud platform.
Nearly 2,900 companies with users around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.
For further information: Media Contact: Ashley Dyer, PR Director, BlackLine, 818-936-7166, [email protected]