LOS ANGELES – Sept. 27, 2011 –Financial software provider BlackLine Systems has been named to Software Magazine’s prestigious annual list of the 500 largest software and service providers in the world. The Software 500 survey, now in its 29th year, also ranked BlackLine the No. 7 fastest growing company in the $10 to $30 million revenue range.
The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers, targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing. The 2011 ranking is based on total worldwide software and services revenue for 2010.
“The 2011 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $541.5 billion worldwide for 2010, representing approximately 10 percent growth from the previous year’s list,” says John P. Desmond, editor of Software Magazine and Softwaremag.com.
BlackLine revenues were up by 50 percent in both 2009 and 2010. The company also is already recording strong growth in 2011, with its sales team closing nearly as many new deals in the first six months of 2011 alone as in the entire calendar year 2010. The 2009 growth follows three sequential previous years where the company’s revenues doubled.
BlackLine continues to add clients at an aggressive pace with a long list of global companies already on board including AT&T, Boeing, Costco, eBay and Northrop Grumman.
“The Software 500 helps CIOs, IT managers and other technology decision-makers research and create a short list of business partners,” Desmond adds. “It is a quick reference of vendor viability. The online version is searchable by category, making it what we call the online catalog to enterprise software.”
The complete Software 500 survey, methodology and supporting articles will be available online soon at www.softwaremag.com.
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/.