BlackLine Named A Leader In 2016 Gartner Magic Quadrant For Financial Corporate Performance Management Solutions
LOS ANGELES, June 3, 2016
Financial controls and automation software company BlackLine today announced that it has been named by Gartner as a Leader for Financial Corporate Performance Management (FCPM) Solutions, with Gartner positioning BlackLine in the Leaders Quadrant of its just-released Magic Quadrant for FCPM Solutions– a newly created Gartner category.
In its May 31, 2016 report, the world’s leading information technology research and advisory company recognized BlackLine, a pure-play cloud provider, as a Leader for its “ability to execute” and its “completeness of vision,” which includes market understanding; marketing strategy, sales strategy, product strategy, geographic strategy and vertical/industry strategy; business model; and innovation.
The new Gartner Magic Quadrant “is the result of the evolution of the Corporate Performance Management (CPM) market, which has produced two segments: Financial CPM (FCPM) and Strategic CPM (SCPM).” Gartner defines the components of an FCPM solution as “supporting financial accounting processes to achieve a corporate financial close, including financial reporting and consolidation and Enhanced Financial Control and Automation (EFCA).”
“We are gratified that a firm of Gartner’s caliber and reputation has recognized BlackLine as a leader in this rapidly developing space,” Therese Tucker, CEO, BlackLine, said. “As a pioneer in Financial Corporate Performance Management, we believe BlackLine is clearly aligned with where companies are going―best-of-breed cloud solutions designed from the ground up for Finance and Accounting that transform the financial close with efficiency and ease.”
The report notes that “FCPM offerings continue to shift toward cloud-based solutions that deliver a shorter time to value and improved ease of use while improving agility. The ability to provide cloud-based solutions and demonstrate experience with supporting these solutions is now a generally accepted requirement in this market.” Gartner predicts that “by 2019, more than 30 percent of the 100 largest vendors’ new software investments will have shifted from cloud-first to cloud-only implementations.”
“From day one, our commitment has always been to customer success. For Finance and Accounting leaders, we feel it’s the evidence they need to embrace BlackLine with confidence, knowing we’ll partner with them in their FCPM journey,” added Ms. Tucker.
BlackLine is a leading provider of Enhanced Finance Controls and Automation (EFCA) software and the only one that offers a unified cloud platform supporting the entire close-to-disclose process. BlackLine’s EFCA Platform helps midsize companies and large enterprises improve the accuracy and reliability of their financial reporting, achieve process efficiencies and improve visibility into their Finance & Accounting (F&A) operations. The platform enables customers to move beyond outdated processes and point solutions to a Continuous Accounting model. With Continuous Accounting, real-time automation, controls and period-end tasks are embedded within day-to-day activities, allowing the rigid accounting calendar to more closely mirror the broader business.
Delivered through a scalable and highly secure cloud model and built from a single code base, the BlackLine platform supports many key F&A processes including the financial close, account reconciliations, intercompany accounting and controls assurance, fueling confidence throughout the entire accounting cycle. Through BlackLine’s cloud analytics software, BlackLine Insights, CFOs can access real-time data to benchmark, analyze and improve the efficiency and performance of their F&A organizations. The software utilizes live, aggregated and anonymized data collected from BlackLine customers.
In an era of ever-increasing business complexity, transaction volumes and stringent regulatory requirements, BlackLine’s platform is purpose-built to transform and modernize mission-critical F&A processes—with enterprise-grade accuracy, automation and transparency. More than 135,000 users across 1,400 companies in approximately 100 countries depend upon BlackLine to increase accountant productivity and elevate controls and compliance functions to Modern Finance status.
BlackLine complements existing enterprise systems for Corporate Performance Management, Governance Risk and Compliance and Enterprise Resource Planning. The BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution, joining the ranks of fewer than 40 other software offerings. BlackLine also is an SAP Gold Partner, Oracle Gold Partner, and participates in the partner programs of NetSuite and several other ERP providers.