London Calling: FloQast Opens First International Office to Support Global Expansion
The FloQast team has a secret we’ve been sitting on for over a year now, and today’s the day we share it.
In early 2020, the board officially approved a plan to expand operations to Europe with a United Kingdom headquarters, a core team of veteran FloQast employees, and plans to hire. Then, COVID-19 hit, and the plan was put on hold as the team — like the rest of the planet — waited to see the outcome of the global pandemic.
Today, after a year of tremendous growth, we’re excited to announce the opening of our London office to fulfill the rapidly growing demand for accounting workflow automation software in Europe, the Middle East, and Africa [EMEA].
“Opening a new London office is huge for FloQast because it signifies our rapid growth across the board,” said Mike Whitmire, CPA*, CEO and co-founder of FloQast. “As the FloQast platform continues to grow with new features and innovations, so does our customer base around the world. Building out our global workforce and footprint with a physical office is the next logical step to give our EMEA-based customers the same high level of support that we offer here in the U.S.”
Heading the expansion is Adam Zoucha, vice president and EMEA managing director at FloQast, and FloQast’s first business development representative. Recently, I spoke with Adam about the process, how they selected the team to support it, and what made London the best possible choice for international expansion.
What excites you most about the expansion overseas?
What excites me most is the vast opportunity. We have never proactively sold to Europe, the Middle East, and Africa (EMEA), but the market pulled us in with inbound requests and comparisons to legacy vendors. Prospects and customers showed us there is an appetite for FloQast and our philosophy: By accountants, for accountants. FloQast already services some of the largest, fastest-growing companies in the world that have overseas finance functions, so it is also an opportunity to better service our existing client base with a local presence.
When was it decided that you would be leading FloQast’s expansion to EMEA?
The expansion plan was presented to the board for approval in February 2020 and was approved enthusiastically. Of course, then COVID-19 happened and we paused the initiative. During that time, the demand for an accounting workflow automation solution to allow departments to work better remotely increased substantially. We see this need continuing to grow as most companies approach a hybrid remote workforce going forward.
From a personal standpoint, our CEO Mike and I had been discussing my move to Europe and heading the EMEA expansion for about a year-and-a-half. Being able to transfer the U.S. Direct Sales team to such an experienced leader like Jill Cooper really allowed me to focus on the expansion and planning for EMEA.
How did the company select LA-based FloQast employees for relocation to the UK?
The biggest focus for FloQast was to select employees that embodied our culture to bring to the London head office. It is a hand-selected group that offers expertise in all facets of the customer life cycle. Collectively, we bring almost 20 years of FloQast experience between four LA employees moving to London … and that’s for a company that is only seven years into existence, so it shows the dedication of these specific team members.
What made London the right location for the first non-American FloQast office?
London was a natural choice based on our current client base and the wealth of accounting and SaaS talent available. We’re a unique company in that we employ accountants in all customer-facing roles, so being able to draw from the major accounting firms in London was a plus.
In addition to leading FloQast’s overseas expansion, you were also FloQast’s first business development representative. How fulfilling is it to be in the position you’re at now considering you joined the company when there were just a handful of employees in a rented house?
Sometimes it’s difficult to slow down and reflect on how much success we have had; there’s certainly a larger, long-term goal in mind that all of our executives and investors share. All that said, being present — and contributing to — the company’s growth is extremely fulfilling and I attribute it largely to the great hiring we have done over the years. You can only go so far by yourself, so being able to trust the team at FloQast — from a world-class engineering org to each of the customer-facing departments — has really paid dividends. We may not be the oldest in this space, but it’s clear now FloQast is the leader and fastest growing based on customer response, so there’s a lot to be said for such an active customer base that has shaped so much of the product over the years. We’re excited about the early hires in London to take a similar path and own our success in EMEA together.