Streamlining Financial Processes: Entain’s Success with FloQast

Automating the Month-End Close

Nicola Patterson, Head of Finance at Entain Australia, embarked on a mission to revolutionise the month-end close process. Initially, Nicola faced the challenge of manually updating Excel spreadsheets each month, a task that was both tedious and time-consuming. She quickly recognised the potential for inefficiencies to hinder the finance team’s productivity.

“Having something like FloQast, which triggers that balances have moved and lets you know that you need to go in and update your rec[onciliation] for review makes everyone a lot happier,” Nicola explained. Additionally, Nicola added that the automation provided by FloQast not only reduced manual intervention but also streamlined the workflow, allowing the team to focus on more strategic tasks.

With FloQast, Entain automated its reconciliation processes, significantly reducing the time spent on manual updates and verifications. This transition resulted in enhanced efficiency and accuracy across the board.

Enhancing Team Productivity and Satisfaction

According to Nicola, FloQast’s implementation had a significant impact on the morale and satisfaction of Entain’s finance team. By eliminating mundane, repetitive tasks associated with month-end close, team members could focus on more value-added activities.

“No one wants to spend time in spreadsheets anymore. We want to think more strategically and how we can plan for the future,” Nicola emphasised. This shift not only increased job satisfaction but also fostered a more forward-thinking approach within the finance department.

The user-friendly interface of FloQast played a crucial role in this transformation, Nicola said. The platform’s ease of use and intuitive design facilitated quick adoption among team members, further enhancing productivity and engagement.

“Having something like FloQast, which triggers that balances have moved and lets you know that you need to go in and update your rec[onciliation] for review makes everyone a lot happier.”

– Nicola Patterson, Head of Finance

Saving Time and Focusing on Strategic Planning

One of the most significant benefits of implementing FloQast was the time saved through automation. Nicola observed that approximately 10 days a year were saved, which could be redirected towards strategic initiatives and planning.

“I would say FloQast probably saves us 10 business days a year in total just through process automation,” Nicola noted. This efficiency gain allowed the team to allocate resources more effectively, ensuring that strategic goals were prioritised and achieved.”

The reduction in reconciliation time not only streamlined operations but also reduced the administrative burden on the finance team. FloQast’s impact on Entain’s processes exemplifies the power of automation in driving organisational success.

Building Strong Support and Collaboration

FloQast’s support network was another aspect that contributed to Entain’s positive experience. The ability to easily access support and build rapport with the FloQast team enhanced the implementation process.

“If we have an issue with FloQast, I’ve got someone that I know is based in Australia who can answer my question within an hour or two,” Nicola shared. “Having someone close by and an actual rapport with the individuals makes a world of difference.”

The implementation of FloQast has marked a significant shift in Entain’s financial operations. By automating manual tasks, Entain has achieved considerable time savings and enhanced productivity, allowing the finance team to focus more on strategic initiatives. The integration of FloQast into their processes has facilitated more efficient month-end close, streamlined reconciliations, and bolstered team satisfaction. This evolution underscores the practical benefits of automation and sets the stage for ongoing improvements in Entain’s financial operations.

“I would say FloQast probably saves us 10 business days a year in total just through process automation. This efficiency gain allowed the team to allocate resources more effectively, ensuring that strategic goals were prioritised and achieved.”

– Nicola Patterson, Head of Finance