May 28, 2016 8:12 AM ET

Internet Software and Services

Company Overview of BlackLine Inc.

Company Overview

BlackLine Inc. develops and markets enterprise-class software to automate and control the entire financial close process. The company offers Account Reconciliations that automates and standardizes the reconciliation process; Journal Entry, a journal entry management system that allows the client to create, review, and approve journals then electronically certify and store them with various supporting documentation; Transaction Matching that streamlines and automates detail-heavy reconciliations, such as bank reconciliations, credit card matching, intercompany reconciliations, and invoice-to-PO matching; and Task Management that provides a Web-based command center to manage accounting and fin...

21300 Victory Boulevard

12th Floor

Woodland Hills, CA 91367

United States

Founded in 2001





Key Executives for BlackLine Inc.

Founder, Chairman of The Board and Chief Executive Officer
Chief Financial Officer
Age: 47
Vice President of Operations
Chief Strategy Officer
Executive Vice President
Age: 67
Compensation as of Fiscal Year 2015.

BlackLine Inc. Key Developments

BlackLine's Platform for Finance Controls and Automation Features Data Analytics, Support for Mobile, and Enhanced Intercompany Hub

BlackLine announced its latest platform release featuring a number of new products and features designed to enable Finance & Accounting (F&A) departments to benchmark team performance, improve visibility into global operations, and enhance communication and collaboration across their entire organizations. Key products included in the release are BlackLine Insights, benchmark analytics software that gives CFOs, controllers and accountants the real-time data needed to benchmark, analyze and improve the efficiency and performance of mission-critical F&A processes; BlackLine Mobile, which provides near real-time dashboard reporting and the ability to approve and check the status of account reconciliations from a mobile device;, a site that provides near real-time visibility into BlackLine's uptime and performance; and Intercompany Settlement, an enhancement of BlackLine's Intercompany Hub, the enterprise-class clearinghouse for intercompany transactions. BlackLine Insights is a new solution that aggregates data from the activities of BlackLine customers around the world. Built on BlackLine's unified cloud platform, Insights integrates with every BlackLine product to deliver summary statistics, usage information and deep, accounting-focused analysis. Drawing upon the anonymized and dynamic data resulting from actions taken by BlackLine users, Insights helps CFOs and controllers measure their team and organizational performance and compare themselves against their peer group based on various industry benchmarks. BlackLine Mobile allows users to monitor and approve reconciliations directly from their mobile devices with near real-time views into the current certification state of reconciliations. In addition to visibility into the status of reconciliations, core features such as quick filters for Key Accounts and user-specific "My Views" facilitate reconciliation management from mobile devices. BlackLine Mobile is available on both iOS and Android. Intercompany Settlement is the latest feature of the BlackLine Intercompany Hub. The intercompany reconciliation process, when handled manually, can require hundreds of employees within a large organization and countless hours of time. Typically, once a preliminary reconciliation has been completed, companies attempt to settle the transaction via a transfer of funds. The resulting settlement matrix, complete with partial payments, can take a significant amount of work to create, primarily due to the collaborative nature of the process. Because of the complexities involved, intercompany transactions are one of the most frequent sources of uncertainty for F&A. Following the recent release of automated invoice generation, the Hub now helps global or multi-entity enterprises monitor settlement matrices associated with entities throughout their entire organizations, giving CFOs a global view of what their various entities owe to each other. BlackLine's Intercompany Settlement is an example of how continuous accounting can transform a rote, manual, low-level process into near real-time information that can be used as a strategic management tool for the CFO. The latest BlackLine release also includes new features for enhanced reporting functionality, increased collaboration abilities and more streamlined work flow. BlackLine Insights, BlackLine Mobile App, and Intercompany Settlement are currently available to BlackLine customers.

BlackLine Announces Executive Changes

BlackLine announced the appointment of former Infor executive Joseph Awad as senior vice president, EMEA, to oversee the company's rapid business growth in the region. Awad is a seasoned financial software industry veteran with a successful 30-year track record, much of this time spent in leadership roles throughout the EMEA region. At ERP (enterprise resource planning) applications software leader Infor, he most recently held the position of vice president, EMEA Financial Solutions. In this position, he was responsible for direct and indirect channel sales, while overseeing operations for a business unit with more than 10,000 customers in over 60 countries throughout the region. Awad previously held sales and management positions at Geac Computer Corporation and Dun and Bradstreet Software. The company also announced that Mario Spanicciati, former executive director for EMEA and executive vice president of Operations, has been appointed to the role of chief strategy officer. Spanicciati has worked alongside company CEO Tucker since 2004 and headed up the company's EMEA operations, launched in London in January of 2013. In his new position, Spanicciati will be responsible for strategy and alignment across the entire global organisation, driving strategic partnerships and building out alliances worldwide.

BlackLine Announces Appointment of Karole Morgan-Prager as Chief Legal Officer

BlackLine announced the appointment of Karole Morgan-Prager as the company's chief legal officer. In this role, Morgan-Prager will oversee BlackLine's legal functions on a global basis. Morgan-Prager brings more than 25 years of legal experience to BlackLine, with special expertise in corporate finance and securities matters, investor relations, internal audit, corporate development and public company governance, disclosure and compliance issues. Prior to joining BlackLine, Morgan-Prager was vice president of corporate development, general counsel and corporate secretary at The McClatchy Company, advising management at the leading news and information provider on general business, employment, investor relations, debt financing and public company disclosure, compliance and securities matters.

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