WOODLAND HILLS, Calif., April 14, 2011 /PRNewswire/ -- Financial software provider BlackLine Systems reported its strongest quarter on record in Q1, with its sales team closing half as many new deals in the first quarter of 2011 alone – traditionally the slowest time of year for software sales – as in the entire calendar year 2010 (which also was a strong growth year for BlackLine).
Amgen Inc., Belkin and Telus Corporations are among the new subscribers which join an already impressive list of BlackLine clients such as AT&T, Boeing, Northrop Grumman and United Airlines. The company also added a strong contingent of Australia-based organizations during the quarter, supporting the growing demand in the APAC (Asia-Pacific) region for the company's account reconciliation and financial close software.
"We've spent years building a reputation for delivering high ROI to our clients; client satisfaction is our No. 1 priority," Therese Tucker, CEO of BlackLine, said. "Our incredible growth and performance in Q1, which is typically a slow quarter, is a direct result of that focus."
BlackLine revenues were up by more than 50 percent in both 2009 and 2010. The 2009 growth follows three sequential previous years where the company's revenues doubled under Tucker's direction.
Leading global accounting and consulting firms Deloitte, Ernst & Young and KPMG also are among a growing list of organizations with representatives who have become 'BlackLine Certified Implementers' since BlackLine began offering the implementation training course just last year. BlackLine also tripled its head count in the last year and a half, adding jobs in the local community.
Accounting Today, Deloitte and Red Herring have each recognized Tucker recently for her accomplishments in building and growing the software company. Accounting Today named her to its '10 Worth Watching' list of 'pioneers in the accounting profession.' BlackLine ranked 61st nationally, 3rd in LA on Deloitte's 2010 Technology Fast 500(TM). And, 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.
Most recently, the San Fernando Valley Business Journal honored Tucker as a 'Woman of the Decade' for her continuous accomplishments over the years.
In addition to APAC, BlackLine is also aggressively expanding into Europe. In February the company held its first-ever European User Group Meeting in Dublin to serve the company's rapidly growing base of clients in the region. This coming June, BlackLine will be presenting alongside SAP at the SAP Financials Europe show in Amsterdam.
Founded in 2001, 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. For more information, please visit www.blackline.com.
SOURCE BlackLine Systems