LOS ANGELES, April 2, 2020 /PRNewswire/ -- BlackLine, Inc.
(Nasdaq: BL) today announced the broad launch of its 'Modern
Accounting Playbook' (MAP), a solution package based on leading
practices to help midmarket companies get up and running quickly on
BlackLine's market-leading accounting automation platform and guide
them through a proven process to achieve a stress-free financial
close. The company also announced it will offer complimentary
MAP implementation services until June
30, 2020 for a limited number of midsize organizations
to help reduce their financial burden and close with confidence in
this difficult economic environment.
BlackLine MAP makes the move to modern accounting achievable for
midsize companies by helping them realize the greatest value in the
shortest amount of time. By applying a combination of native
cloud technology, a vast library of pre-configured best-practices
templates, and a highly optimized delivery model, BlackLine MAP can
drastically reduce implementation times and accelerate
time-to-value.
"Our BlackLine implementation was very straightforward," said
Jade Lee, director of corporate
accounting at HashiCorp, a multi-cloud infrastructure automation
software company ranked No. 4 on the 2019 Forbes Cloud 100
list. "I've been implementing systems for many years, and
this was one of the most organized and smooth-running
implementations I've ever experienced."
BlackLine MAP is a repeatable, packaged process complete with
all the knowledge and leading practices needed around ERP
integration, data extraction, close checklists, ready-to-go
reconciliation templates, close task tracking, reports, dashboards,
approval flows and more.
"We've created a curated playbook for rapid success, based not
only on our experience working with so many market-leading
companies, but also on our own growth path from boot-strapped
business to Nasdaq-listed entity," said Marc Huffman, BlackLine's president and
COO. "With MAP, we're providing a guided process that shaves
time off the close, slashing workloads and bolstering financial
statement integrity, quickly."
Despite uncertainty facing many of today's organizations, one
thing remains certain—businesses still rely on Finance &
Accounting (F&A) to deliver an accurate picture of financial
health. F&A is now also tasked with adjusting to a
distributed workforce. BlackLine MAP can help on both these
fronts by guiding teams to achieve a collaborative and continuous
close from wherever they're working, without sacrificing
productivity in their F&A departments.
After following BlackLine's leading practices approach and
getting up and running, companies will be well poised to further
modernize their F&A function. As their business evolves,
they won't have to 'rip and replace' to a new solution.
BlackLine will grow with them.
"After MAP's core foundation is in place, we guide the customer
on how to approach each growth milestone they may encounter," added
Mr. Huffman. "So when a customer needs to automate more
accounting processes as business volume and complexity increases or
tackle more advanced needs to prepare for significant milestones
like an IPO, acquisition or venture-capital round, there's never a
gap from demand to delivery."
As the cloud financial close market leader, BlackLine has helped
thousands of companies solve business challenges and scale for
growth. Many leading midsize companies and organizations
including the American Medical Association, Clif Bar, HashiCorp, Impossible Foods, the
Institute of Internal Auditors, Philz Coffee, Postmates and
Travelzoo are already realizing the benefits of using BlackLine to
automate and modernize processes in F&A – closing faster with
more accurate results.
BlackLine was recently recognized as a 2020 Gartner Peer
Insights Customers' Choice for Cloud Financial Close
Solutions. Here's what users in other midsize companies are
saying about BlackLine, taken from the 249 reviews at the Gartner
Peer Insights website:
- "BlackLine has helped us go from manual Excel processes to an
integrated quarterly close process using a uniform reconciliation
format in just a few simple steps." – Senior Accountant,
Manufacturing, company size < $50M
- "Everything was professional and expedient. Great
experience. Our implementation consultant was very easy to
work with and support over the years has been wonderful." – CFO,
Miscellaneous industry, company size $50M–250M
- "We've been using BlackLine for 10 years and can't imagine
going anywhere else because they continue to improve their
technology and support our emerging needs." – Accounting
Supervisor, Services, company size $250-500M
- "I absolutely love BlackLine! They make reconciling
balance sheet accounts much less time consuming so I can direct my
time toward other things." – Senior Accountant, Energy &
Utilities, company size $500M–1B
- "BlackLine has been a great business partner with us. Our
project implementation team has been very helpful and always there
with us every step of the way." – Assistant Corporate Controller,
Manufacturing, company size $500M-1B
To learn more about BlackLine MAP or schedule a meeting with a
BlackLine expert, go here.
About BlackLine
Companies come to BlackLine, Inc.
(Nasdaq: BL) because their traditional manual accounting processes
are not sustainable. BlackLine's cloud-based solutions and
market-leading customer service help companies move to modern
accounting by unifying their data and processes, automating
repetitive work, and driving accountability through
visibility. BlackLine provides solutions for financial close
management, accounting automation, and intercompany governance,
helping large enterprises and midsize companies across all
industries do accounting work better, faster, and with more
control.
More than 3,000 customers trust BlackLine to help them close
faster with complete and accurate results. The company is the
pioneer and recognized Leader in Gartner's 2019 Magic Quadrant for
Cloud Financial Close Solutions. Based in Los Angeles, BlackLine also has regional
headquarters in London,
Singapore and Sydney. For
more information, please visit blackline.com.
BlackLine Forward-looking Statements
This release may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify forward-looking statements by terminology such as
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"believe," "estimate," "predict," "intend," "potential," "would,"
"continue," "ongoing" or the negative of these terms or other
comparable terminology. Forward-looking statements in this release
include statements regarding our growth plans and
opportunities.
Any forward-looking statements contained in this press release
are based upon BlackLine's current plans, estimates and
expectations and are not a representation that such plans,
estimates, or expectations will be achieved. Forward-looking
statements are based on information available at the time those
statements are made and/or management's good faith beliefs and
assumptions as of that time with respect to future events and are
subject to risks and uncertainties. If any of these risks or
uncertainties materialize or if any assumptions prove incorrect,
actual performance or results may differ materially from those
expressed in or suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to, risks
related to the Company's ability to execute on its strategies,
attract new customers, enter new geographies and develop, release
and sell new features and solutions; and other risks and
uncertainties described in the other filings we make with the
Securities and Exchange Commission from time to time, including the
risks described under the heading "Risk Factors" in our Annual
Report on Form 10-K. Additional information will also be set
forth in our Quarterly Reports on Form 10-Q.
Forward-looking statements should not be read as a guarantee of
future performance or results, and you should not place undue
reliance on such statements. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
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