Building on a Strong Foundation: How FloQast Compliance Management Supports A.K.A. Brands’ Compliance Function
In the fast-paced finance and accounting world, keeping up with regulations and ensuring a smooth Close are crucial organizational processes. With its Close operating smoothly, a.k.a Brands jumped at the opportunity to try out FloQast Compliance Management. Let’s take a look at how FloQast helped the Director of SOX Compliance and Head of Internal Audit at a.k.a Brands, Brandon Peters, optimize processes, streamline compliance efforts, and boost efficiency.
Revolutionizing Accounting Processes
FloQast’s influence stretched beyond SOX compliance, positively impacting a.k.a Brands’ accounting procedures. With FloQast’s close management capabilities in place, the finance team optimized their close process and achieved greater efficiency.
“FloQast’s close task checklist and real-time progress tracking transformed our close process,” he said. “We can proactively identify and address bottlenecks promptly, resulting in a faster and more efficient close.”
One of the standout features of FloQast is its cloud-based nature, enabling seamless collaboration among team members, regardless of their location.
“FloQast’s platform promotes seamless collaboration within our finance team,” said Peters. “No more lengthy email chains or manual reconciliations. We can all work together in real-time, ensuring everyone is on the same page and reducing the risk of errors or miscommunications.”
Moreover, FloQast’s automated reconciliation feature significantly simplified a.k.a Brands’ accounting operations. By seamlessly integrating with their ERP system, FloQast automated the data extraction and matching process for reconciliations. Peters elaborated, “FloQast’s automated reconciliation feature saved us valuable time and effort. It improved accuracy and freed up our finance team to focus on more strategic initiatives, rather than getting bogged down in manual data entry and matching.”
Enhanced SOX Compliance
Complying with the Sarbanes-Oxley Act (SOX) can be daunting, requiring meticulous attention to detail. Thankfully, Peters discovered a resource with FloQast Compliance Management.
“FloQast provided us with a centralized platform to manage all our SOX controls, making tracking, monitoring, and documenting control activities easier,” he said. “It improved coordination and communication among team members responsible for control execution and testing.”
Thanks to FloQast, a.k.a Brands’ compliance team gained better visibility and improved communication channels.
“FloQast’s customizable dashboards and automated reminders significantly enhanced our control management,” he said. “We can now monitor control tasks’ progress effortlessly and ensure they are completed on time, reducing the risk of non-compliance and potential penalties.”
Unlocking Accounting Excellence: FloQast’s Impact on a.k.a Brands’ Future
The successful implementation of FloQast Compliance Management at a.k.a Brands revolutionized their accounting practices. It empowered Peters to streamline compliance efforts and enhance control management. He concluded, “FloQast has been a game-changer for our compliance and accounting processes. It provided us with a centralized platform for SOX controls and optimized our close process, resulting in increased efficiency and faster time-to-close.”
If you’re looking for a solution to simplify compliance management, streamline your close process, and drive efficiency, the a.k.a Brands case study exemplifies the transformative power of FloQast. As the Peters put it, “FloQast has become an essential tool for our finance and accounting teams. It empowers us to achieve greater compliance and operational efficiency, allowing us to focus on driving business growth.” Dive into the case study to learn more about how FloQast can empower your finance and accounting teams to achieve similar success.