Pure-Play Cloud Provider Recognized as a Leader, Acknowledged for Completeness of Vision and Ability to Execute
Financial controls and automation software company BlackLine today announced that it has been named by Gartner as a Leader for Financial Corporate Performance Management (FCPM) Solutions, with Gartner positioning BlackLine in the Leaders Quadrant of its just-released Magic Quadrant for FCPM Solutions- a newly created Gartner category.
In its May 31, 2016 report, the world's leading information technology research and advisory companyrecognized BlackLine, a pure-play cloud provider, as a Leader for its "ability to execute" and its "completeness of vision," which includes market understanding; marketing strategy, sales strategy, product strategy, geographic strategy and vertical/industry strategy; business model; and innovation.
The new Gartner Magic Quadrant "is the result of the evolution of the Corporate Performance Management (CPM) market, which has produced two segments: Financial CPM (FCPM) and Strategic CPM (SCPM)." Gartner defines the components of an FCPM solution as "supporting financial accounting processes to achieve a corporate financial close, including financial reporting and consolidation and Enhanced Financial Control and Automation (EFCA)."
"We are gratified that a firm of Gartner's caliber and reputation has recognized BlackLine as a leader in this rapidly developing space," Therese Tucker, CEO, BlackLine, said. "As a pioneer in Financial Corporate Performance Management, we believe BlackLine is clearly aligned with where companies are going best-of-breed cloud solutions designed from the ground up for Finance and Accounting that transform the financial close with efficiency and ease."
The report notes that "FCPM offerings continue to shift toward cloud-based solutions that deliver a shorter time to value and improved ease of use while improving agility. The ability to provide cloud-based solutions and demonstrate experience with supporting these solutions is now a generally accepted requirement in this market." Gartner predicts that "by 2019, more than 30 percent of the 100 largest vendors' new software investments will have shifted from cloud-first to cloud-only implementations."
"From day one, our commitment has always been to customer success. For Finance and Accounting leaders, we feel it's the evidence they need to embrace BlackLine with confidence, knowing we'll partner with them in their FCPM journey," added Ms. Tucker.