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BlackLine, Inc. (Nasdaq: BL) is the premier provider of enhanced financial controls and automation (EFCA) software, dedicated to modernizing the financial close process for businesses worldwide. With its unified cloud platform, BlackLine offers a wide range of solutions that streamline financial operations, ensuring balance sheet integrity and enhancing the accuracy and efficiency of accounting functions.
Recognized as a leader in EFCA and Financial Corporate Performance Management (FCPM) by Gartner, BlackLine serves over 4,400 customers globally, delivering innovative solutions that automate repetitive tasks, unify data, and provide real-time control and transparency. The company's Software as a Service (SaaS) offerings include account reconciliations, variance analysis, journal entry capabilities, and data matching, enabling customers to transition to a continuous accounting model.
Recent achievements include the introduction of the Journals Risk Analyser, an AI-powered tool that provides insights and anomaly detection for journal entries, enhancing compliance and audit efficiency. Additionally, BlackLine's Financial Reporting Analytics solution is now available as an SAP Solution Extension, further solidifying its partnerships and expanding its reach.
BlackLine continues to build on its commitment to digital finance transformation with the appointment of Sumit Johar as Chief Information Officer, bringing over two decades of enterprise cloud and automation experience to the leadership team.
Headquartered in Los Angeles, BlackLine operates in major business centers including New York, London, Paris, Frankfurt, Tokyo, and Sydney, with a mission to lead the market in modern finance solutions and drive innovation for the Office of the CFO.
BlackLine has achieved ISO/IEC 27018:2019 and ISO/IEC 27701:2019 certifications, highlighting its commitment to data security and privacy in cloud services. This accomplishment underscores the company's adherence to advanced international standards for information security management. BlackLine's platforms for financial close and accounts receivable automation are now recognized for their effective data management policies. With over 3,700 customers, BlackLine continues to lead in providing secure cloud-based financial solutions amidst an evolving digital landscape.
BlackLine (Nasdaq: BL) announced its participation in the Raymond James 2021 Technology Investors Conference on December 6, 2021, at 7:30 a.m. PT. The event will be webcast live and archived on BlackLine's investor relations website. BlackLine provides cloud-based solutions aimed at modernizing accounting by automating repetitive tasks and enhancing financial processes. Trusted by over 3,700 customers, the company is recognized as a leader in the financial close market, with offices in major cities worldwide.
BlackLine, Inc. (Nasdaq: BL) expands its partnership with Microsoft by joining the Business Application ISV Connect Program. This collaboration aims to enhance finance and accounting automation for Microsoft Dynamics 365 customers. BlackLine's unified platform will support financial controls and automation, facilitating joint selling alongside Microsoft’s teams. The integration of BlackLine with Dynamics 365 is expected to boost market traction as businesses transition to the cloud. The announcement was made during BlackLine's annual user conference, BeyondTheBlack, attended by over 17,000 participants.
BlackLine, Inc. (Nasdaq: BL) has released findings from a global survey indicating that only 14% of CFOs feel confident in their finance function's skills to support growth over the next five years. Conducted by Censuswide, the survey highlighted that 35% of C-suite executives believe Finance and Accounting is lagging in digital transformation. The survey, involving 1,150 global leaders, emphasizes a critical skills gap affecting finance teams, with 31% of CFOs noting insufficient technology experience within their departments. Future growth will depend on bridging these skill deficiencies.
BlackLine, Inc. (Nasdaq: BL) reported strong financial results for Q3 2021, with total GAAP revenues of $109.4 million, marking a 21% increase year-over-year. However, the company experienced a GAAP net loss of $13.7 million or $0.23 per share. Non-GAAP net income was $15.1 million, slightly up from $15.0 million in Q3 2020. Operating cash flow stood at $17.1 million, while free cash flow fell to $9.8 million. The company added 106 net new customers, bringing the total to 3,704. For Q4 2021, revenue is projected between $113.0 million and $114.0 million.
BlackLine, Inc. (Nasdaq: BL) has launched its next-generation accounts receivable (AR) automation suite, the first unified platform for cash flow optimization. This innovative solution utilizes AI to enhance cash collection and financial operations, targeting a $10 billion+ market for AR automation. In 2021, over $170 billion in payments were processed through BlackLine’s solutions. Company executives emphasize the importance of investing in automation for greater business resilience, especially post-pandemic. Clients report significant improvements in cash application speed and efficiency, with time reductions of over 50%.
On October 26, 2021, BlackLine (Nasdaq: BL) announced the winners of its 2021 Modern Accounting Awards, recognizing organizations that have successfully adopted modern accounting practices. Award recipients include Dentsu International for data unification, FWD Insurance for automating processes, and Flowers Bakeries for enhancing month-end closings. The awards highlight the transformative impact of BlackLine's cloud solutions on financial processes. Winners will be celebrated at the BeyondTheBlack 2021 conference, showcasing their advancements in finance and accounting automation.
BlackLine is set to host its 14th annual user conference, BeyondTheBlack 2021, from Nov. 16 to 18, expecting over 15,000 registrants. This virtual event will showcase best practices in digital finance transformation from more than 20 customers, including Chobani and Heineken, and feature over 100 speakers across 80 sessions. Highlights include discussions on AI in accounting and the presentation of the 2021 Modern Accounting Awards, with up to 22 CPE credits available. BlackLine's solutions aim to modernize financial processes, helping companies achieve faster and accurate results.
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