Company placed highest on the ability to execute axis in the Leaders quadrant for second year in a row; also recognized for completeness of vision
Financial controls and automation software company BlackLine, Inc. (Nasdaq: BL) has been named by Gartner as a Leader for the second year in a row, with Gartner positioning BlackLine in the Leaders quadrant of its recently released “Magic Quadrant for Cloud Financial Close Solutions.”
In the July 26, 2018 report*, the world’s leading technology research and advisory company placed BlackLine highest on the ability to execute axis in the report for the second consecutive year. BlackLine also was recognized for completeness of vision, which includes market understanding; marketing strategy; sales strategy; offering (product) strategy; business model; vertical/industry strategy; innovation; and geographic strategy.
“We are once again gratified that a firm of Gartner’s caliber and reputation has recognized BlackLine. We feel that it validates us as a leader and innovator in this continuously evolving space,” Therese Tucker, CEO, BlackLine, said. “As a pioneer of cloud solutions to automate the financial close, we believe BlackLine is clearly aligned with where companies are going―best-of-breed tools designed from the ground up for Finance and Accounting that transform the financial close and other key processes.”
As defined by Gartner, “Financial close (FC) solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle. The FC market includes the following components: financial consolidation; financial reporting; reconciliation management; close management; intercompany transactions; and disclosure management.”
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In the report, Gartner notes that “During the past two years, the FC market has shifted from mature on-premises offerings to cloud solutions as finance application leaders sought improvements in FC capabilities, enhanced cost control/efficiencies, greater application flexibility and shorter time to value. In addition to providing these advantages, cloud FC solutions are typically easier to use and manage than the previous generation of on-premises offerings. Topics such as the timing of cloud conversions, cloud vendors’ product roadmaps and cloud product selection now account for nearly all of Gartner’s client advisory conversations about FC.”
“From day one, our commitment has always been to customer success. For Finance and Accounting leaders, we feel this recognition should provide the evidence they need to embrace BlackLine with confidence, knowing that we’ll work to provide world-class solutions and service as we partner with them in their finance transformation journeys,” added Ms. Tucker.
To access a complimentary copy of the complete report, please go here.
*Gartner “Magic Quadrant for Cloud Financial Close Solutions” by John E. Van Decker, Christopher Iervolino, 26 July 2018. The “Magic Quadrant for Cloud Financial Corporate Performance Management Solutions,” published in June 2017, has been renamed “Magic Quadrant for Cloud Financial Close Solutions.”
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.