LOS ANGELES, June 11, 2020 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL) has been recognized by Software Magazine in its annual ranking of the world's largest software companies, with the accounting automation software leader ranking first amongst those listing SaaS (Software-as-a-Service) as their primary business sector (up from seventh the year before). Overall, the company ranked as the 68th largest software company globally by revenue, moving up from the 275th position in the previous listing. This marks the ninth consecutive year BlackLine has been acknowledged by Software Magazine as one of the largest and best-performing software and services providers in the world and is a testament to the growing demand in the marketplace for the company's cloud-based solutions.
The 'Annual Software Ranking' (formerly known as the 'Software 500') is a revenue-based ranking of 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 2020 list, released in the May 2020/Spring issue, is based on reported total worldwide software and services revenue for 2018. BlackLine has continued on a strong growth trajectory, closing its most recent year (ended Dec. 31, 2019) with revenue growth of 27 percent year-over-year.
As reported in the issue, "In the past, our annual software ranking was known as the Software 500 and ranked 500 software companies globally by software and software services revenue. However, clear market consolidation and fewer private companies willing to divulge revenue data made us reconsider the approach. Today, we debut a more competitive ranking of the top 100 companies by software and software services revenue."
Financial information for the Annual Software Ranking is gathered from a survey prepared by Rockport Custom Publishing, LLC as well as publicly available information. The survey is open to public and private companies, but researchers may not include private companies that do not submit their financial data or release an annual report.
Companies come to BlackLine, Inc. (Nasdaq: BL) because their traditional manual accounting processes are not sustainable. BlackLine's cloud-based solutions and market-leading customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions for financial close management, accounting automation, and intercompany governance, helping large enterprises and midsize companies across all industries do accounting work better, faster, and with more control.
More than 3,000 customers trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer and recognized Leader in Gartner's 2019 Magic Quadrant for Cloud Financial Close Solutions. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit blackline.com.