BlackLine Positioned as a Leader in Gartner 2019 Magic Quadrant for Cloud Financial Close Solutions

Company placed highest on the Ability to Execute axis in the Leaders quadrant
for third year in a row; also recognized for Completeness of Vision

LOS ANGELES, Oct. 23, 2019 /CNW/ - Leading financial controls and automation software company BlackLine, Inc. (Nasdaq: BL) has been named by Gartner as a Leader for the third year in a row, with Gartner positioning BlackLine in the Leaders quadrant of its recently released "Magic Quadrant for Cloud Financial Close Solutions."

In the Oct. 21, 2019 report*, the world's leading technology research and advisory company placed BlackLine highest on the Ability to Execute axis for the third consecutive year.  BlackLine was also recognized for Completeness of Vision, which includes market understanding; marketing strategy; sales strategy; offering (product) strategy; business model; vertical/industry strategy; innovation; and geographic strategy.

"We are once again gratified that a firm of Gartner's caliber and reputation has recognized BlackLine. We feel this further validates us as a market leader and innovator in this continuously evolving space that we pioneered many years ago," Therese Tucker, CEO, BlackLine, said.  "In the last year, we cemented a global reseller relationship with SAP and have vastly expanded our ecosystem of strategic consulting and technology partners around the world – enabling us to serve as true strategic advisors to the more than 2,800 customers who trust us for their close automation and other critical processes as they undergo digital transformations in their Finance & Accounting organizations."

As defined by Gartner, "Financial close (FC) solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle.  The FC market includes the following components:  financial consolidation; financial reporting; reconciliation management; close management; intercompany transactions; and disclosure management." 

"Gartner research shows that 72 percent of organizations have plans to leverage the cloud for financial applications in the next three years."**

"Our platform is purpose built for accountants.  From day one, our commitment has always been to customer success.  For Finance & Accounting leaders, we feel this recognition should provide the evidence they need to embrace BlackLine with confidence and trust, knowing that we'll work to constantly provide world-class solutions and service," added Ms. Tucker.

To access a complimentary copy of the complete 2019 report, please go here.

*Gartner "Magic Quadrant for Cloud Financial Close Solutions" by Robert Anderson, John E. Van Decker, Greg Leiter, 21 October 2019.  This report was previously titled "Magic Quadrant for Cloud Financial Corporate Performance Management Solutions." 

**Smarter With Gartner, "3 Things to Know Before Moving Financial Applications to the Cloud", May 20, 2019, https://www.gartner.com/smarterwithgartner/3-things-to-know-before-moving-financial-applications-to-the-cloud/

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About BlackLine 
BlackLine, Inc.'s (Nasdaq: BL) cloud-based solutions automate, centralize and streamline financial close operations, intercompany accounting processes and other key Finance and Accounting processes for large enterprises and midsize organizations.  Designed to complement virtually all financial systems including SAP, Oracle and NetSuite, BlackLine increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation from within a single, unified cloud platform.  

More than 2,800 companies with users around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements.  Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney.  For more information, please visit www.blackline.com.

SOURCE BlackLine

Media Contact: Ashley Dyer, PR Director, [email protected], 818.223.9008