BlackLine named Leader of the Gartner Magic Quadrant 2016.
BlackLine, global leader in digitization of accounting and financial functions, announces its nomination by Gartner as one of the leaders in Financial Corporate Performance Management (FCPM). Gartner has put BlackLine into the “Leaders” quadrant, in the new category of its Magic Quadrant 2016: FCPM Solutions.
In this report, published on 31 May 2016, the leading global consultancy and research company for new technologies sees BlackLine, supplier of “pure player” cloud systems as a leader for “the thoroughness of its vision” and its “implementation capacity”. These two criteria cover particularly market understanding, marketing strategy, commercial strategy, product strategy, geographical and vertical strategy, operational model and business innovation.
This new Magic Quadrant is the result of “developments in the commercial performance management market, divided into two segments: management of financial performance (Financial CPM – FCPM) and management of strategic performance (Strategic CPM – SCPM)”, according to Gartner, which defines the components of an FCPM solution as “accounting and financial processes supporting the success of a financial close and including reporting and financial consolidation elements, as well as optimisation of enhanced financial control and automation (EFCA).”
We are very proud that a business of the size and reputation of Gartner should have chosen BlackLine as one of the leaders of this fast-changing sector”, says Therese Tucker, BlackLine’s CEO. “As a pioneer in financial corporate performance management, we are always attentive to the problems that business encounter and are determined to offer them suitable cloud solutions to handle them. Our solutions are specially developed for finance and accounting, allowing organisations to simplify their financial close processes, making them more efficient.” The report emphasises that “FCPM solutions offering is moving ever closer to cloud soltuions, giving a shorter profitability time, greater ease of use and more flexibility. The option of having cloud solutions which come with guaranteed support is a recognised market need.” Gartner expects that “between now and 2019, over 30% of new software investment from the 100 main suppliers will be entirely cloud-based, unlike hybrid solutions.”
“From the outset we put our customers’ success at the heart of our work. We feel this nomination confirms expectations of the finance and accounting divisions in their confident choice of BlackLine, knowing we will accompany them throughout their FCPM process” finishes Therese Tucker.