67 days ago • Posted by William Ramstein
A FinTech for the long run?
''BlackLine hasn't done too badly this year either, gaining more than 170% at Tuesday's prices, after three years of slower growth. It was one of the beneficiaries of an accelerated shift toward digital and automation brought about by COVID-19. The company offers automated accounting services for large and small businesses that simplify accounting processes such as reconciliations. It has a very specific focus, but at the same time it integrates all of a client's financial applications to make accounting go smoothly. It's also cloud-based, eliminating the need for heavy and expensive hardware. Some 56% of Fortune 50 companies use BlackLine's services, but it's still a fairly small company, taking in $90 million in the third quarter. That's a 21% increase over the prior year, which is healthy, even if not outstanding as far as many (SaaS) companies go.''-- Jennifer Saibil at The Motley Fool