BlackLine Systems Doubles Revenues, Head Count In 2008

COMPANY ALSO SURPASSES 20,000-USER MARK FOR ACCLAIMED ACCOUNT RECONCILIATION, FINANCIAL CLOSE SOFTWARE SUITE

Calabasas, Calif. - March 18, 2009 - In an economy where many companies are scaling back, BlackLine Systems continues to forge ahead, doubling its revenue figures and number of employees in 2008. The financial software provider also has exceeded 20,000 users of its flagship account reconciliation and financial close software suite.

“The bottom line is that a spreadsheet approach to reconciliations no longer reflects a ‘best practices’ methodology for companies,” Therese Tucker, CEO and founder, BlackLine, said. “Because BlackLine helps companies cut costs while improving their internal processes, we were able to show strong growth last year that we expect to carry on this year and beyond. BlackLine can help companies of all sizes by automating their financial close process, saving time, money and headaches in the end.”

To meet the increased demand for its software and ensure customers are kept happy, BlackLine added a number of people to its employee roster in 2008, as well.

“As we grow, it’s critical that we uphold the level of customer satisfaction and service that our long-standing clients have come to know and expect. To this end, we added a number of positions during the year. Amidst a downturn in the economy, we’re happy to be able to create jobs,” Tucker added.

About BlackLine

BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralising and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize enterprises.  Designed to complement ERP and other financial systems, BlackLine’s cloud platform increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation.

BlackLine’s mission is to continuously improve the quality, accuracy and efficiency of Finance and Accounting by centralising key functions 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 Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day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 modernise accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.  To date more than 2,800 companies with users in over 130 countries around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements.

BlackLine is recognized by Gartner as a Leader in its 2019 Magic Quadrant for Cloud Financial Close Solutions.

Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney servicing its 14 global locations.For more information, please visit https://www.blackline.com/.

MEDIA CONTACT:

Ashley Dyer
Sr. Public Relations Manager
P. 818.936.7166
E: ashley.dyer@blackline.com

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