Every Dollar Counts — Quick Setup, ROI Set FloQast Apart
May 06, 2020 | By John Siegel
As companies reassess their business plans in the wake of the ongoing COVID-19 health crisis, maximizing employee efficiency and cutting costs are top of mind.
By taking the necessary steps to brace for an impending recession, companies are shining the spotlight on the actual value provided by the resources they employ — cutting expenses wherever possible and circling the wagons for what could be a hard fight.
An obvious area for scrutiny is recurring software subscriptions being underutilized by staff — not delivering on promised benefits or ROI. Sadly, in many cases, some of these applications were never actually fully deployed at all.
Businesses implement close management software to bring organization and efficiency to the month-end close. Doing so brings increased confidence for leaders, faster and more accurate financials being reported, and less stress for the accountants working on the heavily-manual process.
Unfortunately, you can’t really improve this process if the chosen solution wasn’t effectively deployed, required too much administration, or was never fully embraced by the team.
“I inherited BlackLine at a previous employer. It was overly complicated and lacked broad adoption by the organization,” said Vincent Gomez, Vice President and Controller of DOSH. “So when I found a solution in FloQast to replace Blackline that integrated with the tools my team already used, that was easy to use and would implement quickly, it was a no brainer to make the switch. When I joined my new employer as Controller, one of the first things I did was rollout FloQast again.”
According to a 2019 G2 Financial Close Product Comparison report comparing more than 250 user reviews for FloQast and BlackLine, reviewers reported it took one month on average to implement FloQast’s close management software. By contrast, BlackLine user reviews reported that it took on average five months to implement. In the same report, users reported that FloQast paid for itself within eight months, compared to more than two years for BlackLine.
“In my mind, FloQast is the only close management software to use, because the price is so reasonable and it does only what you want it to do — there are no superfluous features that come with the platform that end up not being used,” said Amanda Rompola, Senior Accounting Manager at Frontline Education. “FloQast has exactly what I need to manage the close simply and effectively. I’ve sent former colleagues information about FloQast. I told them I don’t know why they’re spending that much money on BlackLine when FloQast exists. The price point is so reasonable that it doesn’t make sense not to try.”
Today, FloQast is announcing a new Every Dollar Counts replacement program that gives BlackLine customers who may have struggled to fully deploy the application free implementation services so that they can be up and running on FloQast for their next month-end close.
“In uncertain times, every dollar counts,” said Mike Whitmire, co-founder and CEO of FloQast. “One size does not fit all and for many organizations, the complexity of legacy close management software leads to poor user adoption and the promised benefits that drove the purchase are never realized. In any environment, but particularly in the challenging one that we now face, accounting teams require a solution that makes them more productive and their lives easier, and we are committed to making that possible for any organization.”
The Every Dollar Counts replacement program is available to all existing BlackLine licensed customers through June 30, 2020.