BlackLine Q3 Revenues up Over 50% as Global Brands Accelerate Adoption of Leading Finance Controls and Automation Platform; Company Surpasses 100,000 User Mark
Applied Materials, Atlantis Casino, Bureau Veritas, Cloud Peak Energy, Elsevier, KFC GB, Kmart Australia, La-Z-Boy, Louisiana Pacific Corp., Web.com among new clients to sign on to use BlackLine in Q3
LOS ANGELES, LONDON and SYDNEY – Oct. 16, 2014 – Leading finance controls and automation software company BlackLine has reported its revenues are up more than 50 percent for the first three quarters of 2014 compared to the same period a year ago as global companies continue to accelerate adoption of BlackLine’s cloud platform for finance controls and automation. BlackLine also announced that its user count surpassed the 100,000 mark during the third quarter.
BlackLine’s unique platform provides a host of tightly integrated applications and packaged solutions that automate and accelerate the financial close and other key accounting and finance processes. Leading companies of all sizes are now integrating finance controls and automation solutions as part of their efforts to transform legacy, back-office operations into world-class, modern finance organizations with greater efficiencies and reduced compliance risk.
Applied Materials, Atlantis Casino, Resort & Spa, Cloud Peak Energy, La-Z-Boy, Louisiana Pacific Corp. and Web.com are just a few of the new BlackLine clients that signed on during the last quarter in North America. BlackLine is also seeing solid growth in the EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific) regions, recently adding Elsevier and KFC in the United Kingdom and Bureau Veritas in France, as well as GPC Asia Pacific and Kmart Australia in APAC.
The new brand name organizations join an already impressive list of more than 900 BlackLine client companies around the world.
BlackLine was created to automate highly repetitive, manual accounting and finance tasks—tying up all the loose ends to liberate accountants to apply their talents to more strategic pursuits. The company’s introduction of its pioneering account reconciliation software in 2005 signified the development of an entirely new category of business technology, one erasing the drudgery, inefficiency and risk inherent in the previously manual, spreadsheet-based process, while offering unparalleled visibility into the underlying financial data.
Since then, BlackLine has added many new automated functions to its cloud-based technology platform, many created in tandem with the company’s enterprise-level and mid-market customers. Today, this robust platform comprises a variety of packaged solutions and key enabling technologies efficiently addressing multiple Finance and Accounting needs. The enormous amount of time accountants previously invested in manual exercises can now be reinvested in value-added activities, ensuring data transparency, enhanced controls and the integrity of data for reporting and compliance purposes.
BlackLine has made the Software 500 list of the world’s “largest and best performing” software companies for the past four years and the prestigious Inc. 500/5000 for the past seven years in a row, joining the ranks of such companies as Jamba Juice, Microsoft and Patagonia.
In addition to strong revenue growth, BlackLine also quadrupled its headcount in the past few years, adding jobs in the United States, United Kingdom and Australia.