Sep 27, 2011, 02:57 ET
LOS ANGELES, Sept. 27, 2011 /PRNewswire/ -- Financial software provider BlackLine Systems has been named to Software Magazine's prestigious annual list of the 500 largest software and service providers in the world. The Software 500 survey, now in its 29th year, also ranked BlackLine the No. 7 fastest growing company in the $10 to $30 million revenue range.
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 2011 ranking is based on total worldwide software and services revenue for 2010.
"The 2011 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $541.5 billion worldwide for 2010, representing approximately 10 percent growth from the previous year's list," says John P. Desmond, editor of Software Magazine and Softwaremag.com.
BlackLine revenues were up by 50 percent in both 2009 and 2010. The company also is already recording strong growth in 2011, with its sales team closing nearly as many new deals in the first six months of 2011 alone as in the entire calendar year 2010. The 2009 growth follows three sequential previous years where the company's revenues doubled.
BlackLine continues to add clients at an aggressive pace with a long list of global companies already on board including AT&T, Boeing, Costco, eBay and Northrop Grumman.
"The Software 500 helps CIOs, IT managers and other technology decision-makers research and create a short list of business partners," Desmond adds. "It is a quick reference of vendor viability. The online version is searchable by category, making it what we call the online catalog to enterprise software."
The complete Software 500 survey, methodology and supporting articles will be available online soon at www.softwaremag.com.
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
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