BlackLine Systems Selected as Global 100 Finalist in Red Herring Ranking of the Top Private Tech Companies in the World

CALABASAS, Calif., Jan. 6, 2011 /PRNewswire/ -- Global media company and leading technology industry news source Red Herring has named financial software provider BlackLine Systems as a Finalist for its prestigious Red Herring 100 Global Award – an annual ranking of the 100 most "innovative and promising" private technology ventures in the world.  The Global Award nomination follows BlackLine's mid-year recognition as a Red Herring 100 North America Winner.

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The Red Herring editorial team selected the Finalists from a pool of more than 1,200 leading companies spanning the globe.  The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy and integration into their respective industries.

This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.

"2010 was very difficult but extremely rewarding," said Alex Vieux, publisher and CEO of Red Herring.  "Despite lingering effects of the global economic situation, there are many great companies producing truly innovative and amazing technologies, to the extent that we had a hard time narrowing the pool and selecting the Finalists.  BlackLine shows great promise and therefore deserves to be among the Finalists.  Now we're faced with the difficult task of selecting the Winners of the Top 100 Global Award."

Under CEO Therese Tucker's direction, BlackLine has been on a steady growth path, recently recording two sequential years where the company doubled its revenues.  In 2010, BlackLine added a number of large companies to its client list including H.J. Heinz Co., Diamond Resorts International, StarKist and U.S. Foodservice.

The Finalists are invited to present their winning strategies at the Red Herring Global Forum in Los Angeles, Monday to Wednesday, January 24-26, 2011.  The Top 100 winners will be announced at a special awards ceremony at the event.

About BlackLine

Founded in 2001, BlackLine Systems was the first to develop and offer a commercially available Balance Sheet Account Reconciliation solution.  An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process to help improve financial controls for companies of all sizes.  BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.

BlackLine offers clients its enterprise-class software in an easy to implement OnDemand/SaaS platform.  With a proven track record and a commitment to customer success, BlackLine seeks to reduce the burden the financial close places on accounting and finance professionals.  For more information, please visit www.blackline.com.

SOURCE BlackLine Systems

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