**Calabasas, Calif. – April 27, 2010—**Leading global IT industry research firm Gartner has named financial software provider BlackLine Systems in its “Cool Vendors in Risk Management and Compliance, 2010,” report. BlackLine is one of three companies called out in Gartner’s 2010 report which highlights vendors that “offer solutions that are certainly relevant to risk management and compliance, but might not immediately spring to mind when thinking of GRC (governance, risk and compliance) solutions.”
The analysis on BlackLine is given by renowned Gartner analyst John E. Van Decker.
“Reconciliations are the major time-consumer tasks during the close process, and deploying a solution focused on this may lead to a shorter period close,” Van Decker stated in the report. “Finance organizations, coordinated with IT, that are seeking to automate and control the financial close process, and to improve financial governance, and enterprises in which there is little appetite for capital expenditure projects should consider a Software-as-a-Service (SaaS)-based product that provides a lower entry point.”
The BlackLine Financial Close Software Suite is deployed in an OnDemand/SaaS environment and includes modules for Balance Sheet Account Reconciliations, Task Management, Journal Creations, Transaction Matching, Variance Analysis and Consolidation Integrity Manager.
“Inclusion in the Gartner report reinforces that there is a huge untapped market for software that complements existing ERP (enterprise resource planning) and GRC platforms by automating the account reconciliation process,” Therese Tucker, CEO of BlackLine, said. “Virtually all companies, big or small, have to reconcile accounts. BlackLine automates the entire process, giving accounting and finance executives greater control and visibility, while reducing costs and risk, and increasing efficiencies.”
The complete report is available to Gartner clients at www.gartner.com.
**About Gartner’s Cool Vendors Selection Process
Gartner’s listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose.
Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn’t do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner’s interest or curiosity in approximately the past six months.