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BlackLine named as Leader in Gartner Magic Quadrant

29 Oct 2019
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BlackLine has been selected by Gartner as a Leader in the 2019 Magic Quadrant for Cloud Financial Close Solutions for the third year running.

Gartner defines financial close (FC) solutions as those that “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.”

In the report, Gartner placed BlackLine highest on the Ability to Execute axis for the third consecutive year. 

BlackLine was also recognised 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 calibre and reputation has recognised BlackLine. We feel this further validates us as a market leader and innovator in this continuously evolving space that we pioneered many years ago,” says BlackLine CEO Therese Tucker.

“In the last year, we cemented a global reseller relationship with SAP and have vastly expanded our ecosystem of strategic consulting and technology partners around the world – enabling us to serve as true strategic advisors to the more than 2,800 customers who trust us for their close automation and other critical processes as they undergo digital transformations in their finance & accounting organisations.”

According to Gartner’s Smarter with Gartner insights, 72% of organisations plan to leverage the cloud for financial applications in the next three years.

“Our platform is purpose built for accountants,” says Tucker.

“From day one, our commitment has always been to customer success.  for finance & accounting leaders, we feel this recognition should provide the evidence they need to embrace BlackLine with confidence and trust, knowing that we’ll work to constantly provide world-class solutions and service.”

BlackLine recently unveiled a new tiered Strategic Alliance program for consulting partners.

The new program combines BlackLine’s existing Affiliate and Enterprise Consulting Partner Programs into a single, expanded and unified BlackLine Alliance Partner Program designed to provide an even greater level of expertise and service to enterprise and mid-market customers undergoing digital financial transformations.

“Strategic partnerships and collaborations are crucial for BlackLine’s long-term success in the Asia Pacific market,” says BlackLine APAC strategic alliances regional director,Victor Ng.

“Through this new program, our valued customers are provided with a tremendous opportunity to work closely with our partners to support their digital financial transformation journeys.”

These alliances are in addition to the reseller agreement with SAP signed last year, where SAP now can resell BlackLine’s market-leading cloud-based finance and accounting solutions to businesses around the world.