LOS ANGELES, June 30, 2017 /PRNewswire/ -- Financial controls and automation software company BlackLine, Inc. (Nasdaq: BL) has been named by Gartner as a Leader for Cloud Financial Corporate Performance Management (FCPM), with Gartner positioning BlackLine in the Leaders Quadrant of its recently released Magic Quadrant for Cloud FCPM solutions – a newly created Gartner category.
In the June 29, 2017 report*, the world's leading technology research and advisory company placed BlackLine (evaluated exclusively on pure-play cloud solutions) in the highest position for "ability to execute" in the marketplace. BlackLine also was recognized for "completeness of vision," which includes market understanding; marketing strategy, sales strategy, product strategy, geographic strategy and vertical/industry strategy; business model; and innovation.
"We are gratified that a firm of Gartner's caliber and reputation has recognized BlackLine as a leader and innovator in this continuously developing space," Therese Tucker, CEO, BlackLine, said. "As a pioneer in Cloud Financial Corporate Performance Management, we believe BlackLine is clearly aligned with where companies are going―best-of-breed cloud solutions designed from the ground up for Finance and Accounting that transform the financial close and other key processes."
As defined by Gartner, "The components of an FCPM solution support financial accounting processes to help achieve a corporate financial close." The FCPM market includes the following components: "financial consolidation; financial reporting; management reporting, costing and forecasting; reconciliation and close management; intercompany transactions; and disclosure management." "The 'Magic Quadrant for Financial Corporate Performance Management Solutions', which covered both on-premises and cloud solution providers, has been discontinued. It has been replaced by this 'Magic Quadrant for Cloud Financial Corporate Performance Management Solutions', which is considered an entirely new Magic Quadrant." In the report, Gartner notes that "The financial corporate performance management (FCPM) market has shifted from mature on-premises offerings to cloud solutions as finance application leaders have sought improvements in financial close capabilities, enhanced cost control and efficiencies, greater application flexibility and shorter time to value."
"From day one, our commitment has always been to customer success. For Finance and Accounting leaders, we feel this recognition should provide the evidence they need to embrace BlackLine with confidence, knowing we'll provide world-class solutions and service as we partner with them in their finance transformation journeys," added Ms. Tucker.
Gartner predicts that "through 2020, 80 percent of large organizations and 25 percent of midsize organizations in North America and Europe will use cloud FCPM capabilities for financial consolidation and reporting, and enhanced financial control and automation, to replace legacy on-premises systems and manual processes." To download a complimentary copy of the complete report, please go here.
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.
*Gartner "Magic Quadrant for Cloud Financial Corporate Performance Management Solutions" by John E. Van Decker, Christopher Iervolino, 29 June 2017.
BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralizing and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize organizations. Designed to complement virtually all ERP and other 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.
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 modernize accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close. More than 1,800 companies with users in over 130 countries around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements.
Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements include, but are not limited to, expected introduction of new solutions or products, plans for growth and future operations, expectations of future operating results or financial performance, etc. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events, and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward looking statements. These risks and uncertainties include, but are not limited to risks related to our ability to attract new customers and expand sales to existing customers, customers renewing their subscriptions with us, our ability to generate revenue to achieve or sustain profitability, our ability to manage our growth, fluctuations in our quarterly results, and general economic conditions in the markets we serve. Additional risks and uncertainties are described in greater detail under the heading "Risk Factors" in the filings we make with the Securities and Exchange Commission ("SEC") from time to time, which are available on our website at https://investors.blackline.com and on the SEC's website at www.sec.gov. Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/blackline-positioned-as-a-leader-in-gartner-2017-magic-quadrant-for-cloud-financial-corporate-performance-management-solutions-300482718.html