Calabasas, Calif. – February 22, 2010 – Despite a difficult economy in 2009, BlackLine Systems has seen a 50 percent increase in annual revenues over the prior year for its flagship account reconciliation and financial close software. The 2009 growth follows two previous years where the company’s revenues doubled under CEO Therese Tucker’s direction.
“The proven return on investment that BlackLine provides to its clients has made BlackLine a ‘must have’ for accounting and finance departments, despite cuts in other areas,” said Tucker. “The number of new clients in Q4 was our second highest ever.”
Some of the new clients added in 2009 include Unified Grocers, Four Seasons, Rackspace, Express Jet and Hawaiian Airlines.
Additional accomplishments from the past year include a healthy expansion of professional staff across all areas, with a focus on training, support and implementation; the completion of an unqualified SAS 70 Type II audit, verifying both the security of client data as well as the quality of BlackLine’s scalable business processes; and an updated website that reflects the company’s proficient approach to delivering value via software as a service (SaaS).
BlackLine was also the recipient of numerous accolades in 2009, including a No. 113 ranking on Inc. Magazine’s list of the fastest-growing private companies in the United States, a No. 6 spot on the Los Angeles Business Journal’s (LABJ) list of Fastest-Growing Private Companies in the Greater Los Angeles region, recognition as a finalist in two categories from the Stevie Awards for Women in Business, and multiple prestigious product awards for ROI (return on investment) from Nucleus Research.
“We believe that 2010 will be a banner year for BlackLine,” added Tucker. “Our focus remains on taking care of clients and delivering software that provides them with extraordinary value.”
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/.