LOS ANGELES, Sept. 19, 2012 /PRNewswire/ -- Demonstrating 51.6 percent growth in 2011, financial software provider BlackLine Systems has been recognized by Software Magazine for the second year in a row as one of the largest and 'best performing' software and service providers in the world. In addition to making the prestigious Software 500 (now in its 30th year!), BlackLine also took the No. 6 spot for the fastest-growing company in the $10 to $30 million category worldwide.
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.
"The Software 500 helps CIOs, senior IT and business managers and IT staff research and create their short list of business partners," says John P. Desmond, editor, Software Magazine. "The Software 500 is a quick reference of vendor viability. And the online version is searchable by category, making it what we call the online catalog to enterprise software."
The 2012 Software 500 ranking is based on total worldwide software and services revenue for 2011.
"The 2012 Software 500 results show that revenue growth in the software and services industry was again healthy, with total Software 500 revenue of $643.6 billion worldwide for 2011, representing approximately 17 percent growth from the previous year's list," adds Desmond.
The complete 2012 Software 500 list can be found in the commemorative print edition of the Fall issue of Software Magazine and also at www.softwaremag.com.
Under CEO and Founder Therese Tucker's direction, BlackLine revenues were up by 50 percent in 2010 and 2011 and are on track to grow by at least that pace in 2012. The company has seen substantial revenue increases since moving to a Software-as-a-Service (SaaS) business model in 2008.
Tucker's passion, persistence and effort have paid off with BlackLine ranking No. 15 on the 2012 list of the '50 Fastest' Women-Owned/Led Companies in North America, as reported in The Wall St. Journal. In 2011, BlackLine was named a Red Herring 100 Global Winner – recognizing the company as one of the 'most innovative and promising' tech ventures in the world. BlackLine also has made the prestigious Inc. 500/5000 list for the past five years in a row.
BlackLine Systems was the first to develop and offer a commercially available Balance Sheet Account Reconciliation solution. An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process to help improve financial controls for companies of all sizes. BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.
BlackLine offers clients its enterprise-class software in a simple and secure OnDemand/SaaS platform. With a proven track record and a commitment to customer success, BlackLine seeks to reduce the burden the financial close places on accounting and finance professionals.
BlackLine headquarters are in Los Angeles, with offices in Atlanta, Chicago, London, New York City, Portland, Ore. and Sydney to serve the company's growing global client base. For more information, please visit www.blackline.com.
Director of Corporate Communications
SOURCE BlackLine Systems