BlackLine Positioned As A Leader In Gartner 2018 Magic Quadrant For Cloud Financial Close Solutions

Company placed highest on the ability to execute axis in the Leaders quadrant for second year in a row; also recognized for completeness of vision

News provided by

BlackLine

Aug 06, 2018, 09:00 ET

LOS ANGELES, Aug. 6, 2018 /PRNewswire/ -- Financial controls and automation software company BlackLine, Inc. (Nasdaq: BL) has been named by Gartner as a Leader for the second year in a row, with Gartner positioning BlackLine in the Leaders quadrant of its recently released "Magic Quadrant for Cloud Financial Close Solutions."

In the July 26, 2018 report*, the world's leading technology research and advisory company placed BlackLine highest on the ability to execute axis in the report for the second consecutive year. BlackLine also was recognized for completeness of vision, which includes market understanding; marketing strategy; sales strategy; offering (product) strategy; business model; vertical/industry strategy; innovation; and geographic strategy.

"We are once again gratified that a firm of Gartner's caliber and reputation has recognized BlackLine. We feel that it validates us as a leader and innovator in this continuously evolving space," Therese Tucker, CEO, BlackLine, said. "As a pioneer of cloud solutions to automate the financial close, we believe BlackLine is clearly aligned with where companies are going―best-of-breed tools designed from the ground up for Finance and Accounting that transform the financial close and other key processes."

As defined by Gartner, "Financial close (FC) solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle. The FC market includes the following components: financial consolidation; financial reporting; reconciliation management; close management; intercompany transactions; and disclosure management."

In the report, Gartner notes that "During the past two years, the FC market has shifted from mature on-premises offerings to cloud solutions as finance application leaders sought improvements in FC capabilities, enhanced cost control/efficiencies, greater application flexibility and shorter time to value. In addition to providing these advantages, cloud FC solutions are typically easier to use and manage than the previous generation of on-premises offerings. Topics such as the timing of cloud conversions, cloud vendors' product roadmaps and cloud product selection now account for nearly all of Gartner's client advisory conversations about FC."

"From day one, our commitment has always been to customer success. For Finance and Accounting leaders, we feel this recognition should provide the evidence they need to embrace BlackLine with confidence, knowing that we'll work to provide world-class solutions and service as we partner with them in their finance transformation journeys," added Ms. Tucker.

To access a complimentary copy of the complete report, please go here.

*Gartner "Magic Quadrant for Cloud Financial Close Solutions" by John E. Van Decker, Christopher Iervolino, 26 July 2018. The "Magic Quadrant for Cloud Financial Corporate Performance Management Solutions," published in June 2017, has been renamed "Magic Quadrant for Cloud Financial Close Solutions."

Gartner Disclaimer
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, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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. 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 Statement
This press release contains forward-looking statements. These statements may relate to, but are not limited to, expectations of future operating results or financial performance of BlackLine, Inc. ("BlackLine" or the "Company"), the calculation of certain key financial and operating metrics, capital expenditures, introduction of new solutions or products, expansion into new markets, regulatory compliance, plans for growth and future operations, technological capabilities, and strategic relationships, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. 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. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.

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 that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. These risks and uncertainties are described in greater detail under the heading "Risk Factors" in the filings we make with the Securities and Exchange Commission ("SEC") from time to time, which are available on our website at http://investors.blackline.com and on the SEC's website at www.sec.gov. Except as required by law, BlackLine does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

SOURCE BlackLine