BlackLine Revenue Growth Tops 50%
Company surpasses 1,000-client mark as leading brands embrace BlackLine’s Modern Finance Platform in 2014: British Gas, Elsevier, Hubbell, JetBlue, Kmart Australia, Sky City and T-Mobile on Board
LOS ANGELES, LONDON and SYDNEY – Jan. 29, 2015 – Leading finance controls and automation software company BlackLine today announced 2014 year-over-year revenues were up more than 50 percent as global companies of all sizes accelerate adoption of the company’s ‘Modern Finance’ cloud platform for finance controls and automation.
BlackLine also recently announced it has surpassed the 1,000-client mark as a number of new mid-size and enterprise organizations embraced the BlackLine financial automation platform in 2014 including British Gas, Elsevier, Hubbell, JetBlue, Kmart Australia, Sky City Entertainment and T-Mobile. These new customers join an already impressive list of BlackLine client companies around the world that are using the leading cloud platform to transform their existing Finance and Accounting departments into leading-edge Modern Finance organizations.
BlackLine provides a host of tightly integrated applications and packaged solutions that automate and accelerate the financial close and other key accounting and finance processes – from within a single, unified cloud-based platform. 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.
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’s revenues have been up more than 50 percent annually on a consistent basis since the company’s inception. BlackLine has made the Software 500 list of the world’s “largest and best performing” software companies for the past four years, the Deloitte Technology Fast 500™ for the past five 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, the United Kingdom and Australia and is on track to open additional European offices in 2015.
BlackLine is the leader in Enhanced Finance Controls and Automation software and the only provider today offering a completely unified cloud platform—built from a single code base—that supports the entire close-to-disclose process, as well as a host of other key accounting and financial processes. BlackLine’s Finance Controls and Automation Platform increases business efficiency and visibility, while ensuring the highest degree of balance sheet integrity.
Delivered through a scalable and highly secure cloud model, BlackLine empowers more than 1,000 global companies to reduce the time and resources required to execute month-end closing with unparalleled accuracy, fueling confidence throughout the entire accounting cycle. With more than 100,000 users in over 100 countries, BlackLine complements existing Corporate Performance Management (CPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems. Although BlackLine is ERP-agnostic, the BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution — joining the ranks of fewer than 40 other software offerings globally that are endorsed by the enterprise application software leader. BlackLine also is an SAP Gold Partner, Oracle Gold Partner and participates in the partner programs of NetSuite and several other ERP providers. Company headquarters are in Los Angeles, with offices in Atlanta, Chicago, London, Melbourne, New York City and Sydney. For more information, please visit www.blackline.com.