BlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists. The company's financial close management solutions also include journal entry that allows users to generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing. In addition, it offers accounts receivable automation solutions, which include cash application, credit and risk management, collections management, disputes and deductions, team and task management, and AR intelligence solutions. Further, the company provides intercompany workflow that stores permissions by entity and transaction type thereby ensuring both the initiator and the approver of the intercompany transaction are authorized to conduct business; intercompany processing, which records an organization's intercompany transactions; and netting and settlement that generates a real-time settlement matrix, which shows the balance of transactions. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. BlackLine, Inc. was incorporated in 2001 and is headquartered in Woodland Hills, California.
BlackLine was founded in 2001 by Therese Tucker, a former CTO at SunGard Treasury Systems. The initial goal was to help customers replace their use of Excel with a suite of accounting software.The company functioned with no outside funding until 2013 when the private equity firm, Silver Lake Partners invested more than $200 million in the company.Blackline reached an agreement to form a strategic alliance with the financial consulting firm McGladrey, in 2015. As part of the alliance, the companies began offering a business process as a service platform.The company's IPO was October 28, 2016; they're listed on the Nasdaq under the symbol BL.
In September 2016, the company acquired its European competitor, Runbook for $34 million.Runbook marketed a dashboard software application program for SAP; before it was acquired by Blackline.The software's "automation of recurring financial processes" adds "visibility and transparency" and strengthens "internal controls and compliance documentation" of data maintained by SAP.
In 2018 Blackline reached an agreement with SAP for the latter "to resell BlackLine's .. cloud-based finance and accounting solutions" as part of "SAP Solution Extensions."
In October 2020, the company acquired UK-based accounts receivable automation company Rimilia for $150 million.Rimilia's cloud-based SaaS platform "uses AI to accurately apply payments to customer's invoices with any ERP system".
our mission is to be at the forefront of this technology movement by creating the tools that deliver real-time, actionable insights that drive dramatic improvements in efficiency to the accounting and finance organization.
Our vision is to create lasting partnerships with our clients, transforming finance, accounting and compliance with an expanding suite of cloud-based software and technology.
Mr. Peter Hirsch (Chief Technology Officer)
Mr. Patrick Villanova (Chief Accounting Officer & Controller)
Mr. Mark Woodhams (Chief Revenue Officer)
Ms. Karole Morgan-Prager (Chief Legal & Admin. Officer and Sec.)
Ms. Alexandra Geller (VP of Investor Relations)
Mr. Andres Botero (Chief Marketing & Strategy Officer)
Ms. Kimberly Uberti (VP of Global Corp. Communications)
Recognition and Awards
BlackLine won 1 award in 2017. In 2017, BlackLine won for Best Companies in Los Angeles. Based on 458 ratings and 40 participants, employees at BlackLine are satisfied with their work experience. The overall culture score, 76/100 or B+, incorporates employee ratings based on their feedback on the Perks And Benefits, Executive Team, Retention and more.