Accounting

FloQast Customers Go Live in Less Than 1 Month, See Payback in 8

Oct 16, 2018 | By John Siegel

This article was updated on September 16, 2019 to reflect the latest data from G2’s User Satisfaction Ratings

We’ve got some great salespeople, but they aren’t the best at selling FloQast. Not by a long shot. In fact, our top performers don’t even work in our office! That’s because again and again, our best salespeople are our customers.

While we’re continually soliciting feedback from our customers to improve our close management software, it’s always a nice surprise to see what they’re saying about us behind our backs. We recently discovered that we’re outranking our competition on G2 by a long shot, and we wanted to share the great news.

G2 is the largest peer-to-peer, business solutions review platform that aggregates user reviews for business software. Reviews are authenticated and can’t be altered by the companies whose products are being reviewed, so many buyers use it to research options.

So what exactly did customers have to say?

FloQast Pays for Itself in 8 Months on Average

On average, FloQast users reported an eight-month payback period. A staggering 41% of FloQast users said that their payback period (estimated ROI) was six months or less — which was the fastest time offered as an answer — and, in all, 87% found their estimated ROI to be 12 months or less. In addition to empowering accounting teams to close faster and more accurately, delivering quick ROI is one of the things that gets us most excited.

When compared to our competition, FloQast’s performance set the pace. The competition’s average payback period comes in at just over two years at 25 months, with 13% of customers stated they never got a full payback. Every single FloQast customer reported they had received value within three years, and we’re proud of that!

FloQast Requires Less Than a Month to Go Live

Time to go live is another area where FloQast shines. An impressive 76% of users said that they were able to go live in less than a month (there was even a sizable group who said they went live in less than a day). FloQast received a 92% score in the “Ease of Setup” category. Ease of use is one of our main priorities at FloQast and is recognized with a whopping 96% rating FloQast software for such! We know that our customers’ teams will quickly adopt software that is easy to implement and use.

A long implementation is a costly implementation, and it’s a drain on the accounting team’s enthusiasm for a new application. Our competition, by contrast, only had 6% of customers report that they were able to go live in less than a month. Nearly two-thirds of our competition’s customers took more than three months to go live. As a result, it probably shouldn’t come as a surprise that the competition received only a 74% grade in “Ease of Setup.”

FloQast Users Have a High Level of Satisfaction

When it comes to overall customer satisfaction, the difference between FloQast and the competition is pretty stark. 

When considering all the customer-experience metrics measured by G2, FloQast earned an average rating of 4.8 out of a possible 5. To help buyers better understand the data it compiles, G2 created the G2 Satisfaction Score. The advanced metric uses an algorithm to factor in user ratings and normalizes each measurement so the score is relative to other products. As a result, FloQast earned an amazing 95 on the G2 Satisfaction Score, in comparison to the competition’s 79.

We encourage companies who are considering close management software to learn how our customers are benefiting from FloQast. See real-world examples of how FloQast streamlines the month-end close, helping to manage all the moving parts of your accounting team, eliminating manual ticking and tying, and allowing you to hit deadlines without micromanagement.

This article was updated on September 16 to reflect the latest data from G2 Crowd User Satisfaction

Check Out the Full G2 Crowd Comparison Report

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John Siegel
John Siegel is a Content Marketing Specialist for FloQast. Prior to joining the company, he wrote about Los Angeles-based tech companies for Built In LA. You can follow him on Twitter @JVNSiegel.

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