LOS ANGELES, Sept. 10, 2013 /PRNewswire/ -- Demonstrating 60 percent growth in 2012, enterprise-class financial software company BlackLine Systems has been recognized by Software Magazine for the third year in a row as one of the "largest and best performing" software and services providers in the world. In addition to making the prestigious Software 500, BlackLine also took the No. 4 spot for the fastest-growing company in the $10 to $30 million category worldwide, confirming the growing demand in the marketplace for the company's flagship SaaS-based account reconciliation and financial close software.
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium-size to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing. The 2013 Software 500 ranking is based on total worldwide software and services revenue for 2012.
According to the report, overall revenue for Software 500 companies in 2012 reached $672.9 billion, up 4.5 percent from last year. The complete 2013 Software 500 list can be found in the print edition of the Fall issue of Software Magazine and also online here.
Under CEO and Founder Therese Tucker's direction, BlackLine revenues have increased more than 50 percent annually for the past six years and are on track to grow by at least that pace in 2013, with revenues up more than 55 percent in the first half of 2013 compared to the same period last year. The company has seen substantial revenue increases since moving to a Software-as-a-Service (SaaS) business model in 2008.
Some of the new BlackLine clients that have come on board in 2013 include:
- Pan-European insurance provider Achmea
- Worldwide insurer Aflac
- U.S. media giant Hearst Corporation
- The Nasdaq OMX Group – the world's largest exchange company
- Australian mobile/broadband communications leader Optus
- Leading home and real estate marketplace Zillow
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 six years in a row, joining the ranks of such companies as Jamba Juice, Microsoft and Patagonia.
About BlackLine Systems
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. With more than 75,000 users in over 100 countries, 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, Melbourne, New York City 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