Therese Tucker, BlackLine Systems
Company: BlackLine Systems
Company Description: BlackLine Systems was the first to develop a commercially available Balance Sheet Account Reconciliation solution. An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process for companies of all sizes.
Nomination Category: Management Awards Categories
Nomination Sub Category: Executive of the Year - Computer Software
Nomination Title: Therese Tucker, CEO & Founder
Tell the story about what this nominee achieved since January 1 2010 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
BlackLine Systems is the first company to provide enterprise-wide software applications that automate the entire financial close process.
With 75 employees now on staff, CEO and Founder Therese Tucker boasts a client roster that includes such household names as AT&T, Boeing, Costco, Cox Communications, eBay, Northrop Grumman and United Airlines. And the list goes on. In fact, BlackLine has at least 10 clients in the Fortune 100 and 50 of the Fortune 500!
Leading global accounting and consulting firms Ernst & Young, KPMG and Deloitte are among a growing list of firms with representatives who are now ‘BlackLine Certified Implementers,’ having completed a rigorous training course offered by the company last year. In 2010, BlackLine also entered into a key strategic technology and marketing partnership with global ERP leader SAP.
And Therese started it all 10 years ago when she decided to merge her two talents, technology and finance, into a successful business endeavor. Therese was the sole initial investor in the company. She was comfortably retired from industry giant SunGard Treasury Systems at the time. She didn't need to work; she chose to go back to work and start BlackLine (taking no salary for the first five years!) – a true entrepreneur.
Therese was originally focusing on providing a wealth management solution to First National Bank of Nebraska when a contact there expressed frustration over the company's manual process of reconciling its books. From this initial conversation, BlackLine (as we know it today) was born. Therese went to work developing an automated solution for account reconciliations and re-shifted the company's focus to address the need in this previously un-served market.
BlackLine revenues were up by more than 50 percent in both 2009 and 2010, despite a down economy. The 2009 growth follows three sequential previous years where the company’s revenues doubled under Therese's direction. BlackLine also has tripled its head count in the last year and a half, adding jobs in the local community.
Accounting Today, Deloitte and Red Herring have each recognized Therese recently for her accomplishments in building and growing the software company. In October 2010, Accounting Today named her to its ‘10 Worth Watching’ list of ‘pioneers in the accounting profession.’ BlackLine ranked 61st nationally, 3rd in LA on Deloitte’s 2010 Technology Fast 500™. And in January, BlackLine was named a Red Herring 100 Global Winner – recognizing the company as one of the ‘most innovative and promising’ tech ventures in the world.
Most recently, Therese was honored by the San Fernando Valley Business Journal as a "Woman of the Decade" for her continuous accomplishments over the past several years.
Additional achievements: -Lead411 named BlackLine to its Tech 500 list in 2010 and deemed the company one of Southern California's "Hottest Companies" for 2011 -Red Herring 100 North America Winner – 2010 -Leading analyst firm Gartner honored BlackLine as a ‘Cool Vendor’ in April 2010; the same analyst just wrote another report deeming BlackLine the leader in its space -AlwaysOn Global 250 Finalist – 2010 -Therese named in LABJ ‘Women Making a Difference’ issue – 2010 -No. 113 ranking on Inc. 500 list – 2009
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://www.blackline.com/about-us/awards-recognition/ http://www.blackline.com/news-and-events/press-releases/ http://www.blackline.com/news-and-events/in-the-news/ http://www.blackline.com/archives/2011/03/GARTNER_3-07.pdf
Provide a brief (up to 100 words) biography about the nominee:
Therese Tucker brings more than 25 years in financial accounting and technology development to BlackLine, having previously served as CTO at industry giant SunGard Treasury Systems. As CTO at SunGard, Therese headed up product development for SunGard’s five corporate treasury systems, managing over 200 people in six locations, in four countries. Prior to SunGard, Therese developed Tax Answer Scenarios, a tax planning software product that has been marketed to over 1,000 tax preparers and CPAs annually since 1998.
Therese was recently recognized by Accounting Today as one of '10 To Watch' in the accounting profession.
Therese single-handedly funded BlackLine initially.