LOS ANGELES – Sept. 9, 2014 – BlackLine has been recognized as a Sample Vendor for Enhanced Finance Controls and Automation Software – a renamed category formerly called Close/Reconciliation Management by global technology industry research leader Gartner. In its Aug. 26, 2014 report entitled IT Market Clock for Financial Management Applications 2014, Gartner analyzes product categories in several financial management software market segments and provides actionable insight for companies as they plan for and prioritize their IT investments in the year ahead. The complete report can be downloaded here.
With regard to the renamed Enhanced Finance Controls and Automation category, the Gartner report states, “These solutions cover many of the functions required to automate the ‘last mile of finance’, that is, the processes required to finalize period-end accounts.” This is an arena in which BlackLine has traditionally dominated. But then Gartner goes on to say, “The close/reconciliation management asset class has expanded over the last year to include a wider range of functionality that extends beyond the month-end close into a broader solution that can enhance the management and control of any finance process throughout the accounting cycle.”
“With this renamed category, we believe Gartner has put a stake in the ground validating the huge need and market opportunity that exists for solutions to automate the whole gamut of accounting and finance processes,” Therese Tucker, BlackLine CEO and Founder, said. “The BlackLine Finance Controls and Automation Suite and Platform fit squarely within Gartner’s new category.”
The report goes on to state, “These [Enhanced Finance Controls and Automation] solutions can be deployed across multiple core financial and financial value chain applications, enabling organizations to improve and better control their finance processes without major investments in the underlying applications.”
“We agree with Gartner’s segmentation analysis and are gratified that a firm of Gartner’s caliber and reputation recognized BlackLine as a sample vendor,” Ms. Tucker added in a recent blog post. “In announcing the renamed category, we believe Gartner has validated not only BlackLine’s vision for finance control and automation technology, but our decision to collaborate closely with customers and partners to bring innovation to market in a timely fashion.”