BlackLine Systems Reports Strongest Quarter on Record
COMPANY SIGNS THREE TIMES AS MANY CUSTOMERS FOR ACCOUNT RECONCILIATION, FINANCIAL CLOSE SOFTWARE IN Q2 AS COMPARABLE QUARTER A YEAR AGO; INCREASES REVENUES 45%
Calabasas, Calif. - September 1, 2009 - Financial software provider BlackLine Systems reported its strongest quarter on record in Q2 – increasing revenues by 45 percent and signing three times the number of customers as it did in the comparable quarter a year ago. The new subscribers, including Fortune 500 powerhouse Unified Grocers, along with Four Seasons and Express Jet, join an already impressive list of BlackLine clients such as AT&T, Northrop Grumman and eBay.
BlackLine also expanded its staff during the quarter, adding a number of jobs in the local community. Many of the new additions are either CPAs by trade and/or have come to BlackLine following lengthy and successful tenures with other software industry leaders. Several new hires also have prior experience using BlackLine software and bring best practices thinking and a client perspective to the company.
With a strong performance in Q2, BlackLine continues its rapid growth and has now doubled revenues in each of the past two years.
BlackLine’s suite of account reconciliation and financial close applications saves valuable time and reduces the strain on accounting and finance departments during the close period. The software also ensures timely and accurate reporting, while giving managers the ability to better control these key financial processes.
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 and are an integral component of 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 effort the financial close places on the CFO. For more information, please visit www.blackline.com.
Director of Marketing
Kimberly Uberti for BlackLine