BlackLine Announces Reseller Agreement With SAP®

SAP to resell BlackLine's market-leading cloud-based finance and accounting solutions as SAP® Solution Extensions

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Nov 01, 2018, 16:05 ET

LOS ANGELES, Nov. 1, 2018 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL), a leading provider of financial automation solutions that enable Continuous Accounting, today announced it has entered into a reseller agreement with SAP® (NYSE: SAP). Under the terms of the new agreement, SAP will have the ability to resell BlackLine's market-leading cloud-based finance and accounting solutions to businesses around the world.

"SAP has been a long-time partner; from very early on, they understood that organizations worldwide could close faster with more control, visibility and confidence by adding BlackLine to their SAP Financials offerings," said Mario Spanicciati, BlackLine's chief strategy officer. "It's a very powerful statement by SAP that they have now decided to sell and support our solution directly. We believe this new agreement represents an opportunity to expand our global footprint even further."

BlackLine's cloud platform complements the functionality provided by SAP ERP Financials solutions, including the SAP S/4HANA® Finance solution, bringing enhanced control and automation to Finance & Accounting departments worldwide.

SAP is adding BlackLine solutions to its pricelist, enabling SAP account executives to sell them worldwide with the same processes, contracts, incentives and conditions as the rest of the SAP portfolio. SAP also will provide customer support.

"We are excited to offer BlackLine's cloud-based products to help businesses streamline the financial close process by replacing manual, error-prone accounting processes with a controlled, secure, end-to-end solution," said Martin Naraschewski, senior vice president, general manager, Head of Line of Business Finance for SAP. "This reseller agreement with BlackLine will make it easier than ever for SAP's global customers to adopt and benefit from leading financial close technology."

Though hundreds of companies already run BlackLine alongside SAP, BlackLine is ERP-agnostic, integrating with more than 30 different leading source systems, allowing BlackLine's rules automation engines and analytics to be applied to a wide variety of finance and accounting operational processes.

For more information on BlackLine and SAP, go here.

About BlackLine
BlackLine is a provider of cloud-based solutions that 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 and midsize organizations. The company is recognized by Gartner as a Leader in its 2018 Magic Quadrant for Cloud Financial Close Solutions and as a pioneer in the cloud market for enhanced financial control and automation.

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. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities, BlackLine helps companies modernize accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.

More than 2,400 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.

BlackLine Forward-looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans and opportunities.

Any forward-looking statements contained in this press release are based upon BlackLine's current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company's ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission on March 8, 2018. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2018.

Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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SOURCE BlackLine