FloQast Recognized by Gartner for Capabilities in Cloud Financial Close Solutions
Oct 16, 2018 | By Blake Oliver
Gartner, the leading provider of research and analysis on the global information technology industry, recently gave FloQast the highest cumulative score for vendors in Lower Midsize Organization in its scoring for its 2018 Critical Capabilities for Cloud Financial Close Solutions* report published back on August 8, 2018.
FloQast scored highest amongst vendors in the Lower Midsize Organization use case with a 4.14 out of 5 rating and second highest among in the Business Unit use cases.
So what’s the lower mid-market and why does that matter? Gartner considers the lower mid-market as organizations with annual revenues between $50-$500 million and that are headquartered and have the majority of their operations in a single country. That’s roughly 38,000 businesses in the U.S. alone, some of which will eventually go public, get acquired by larger companies, or acquire/merge with others. But all of them have accounting needs and one size doesn’t fit all.
What we’ve found is that the legacy accounting solutions out there are focused on the needs of large enterprise-level organizations. This means there are more resources needed to be allocated to implement, replace and train employees on new software. Resources that are more limited in growing companies or those may even use a third party resource for their accounting needs. FloQast’s architectural approach focuses on integrating with existing tools rather than replacing them. The benefit: no lengthy implementation and ramp-up is fast and efficient.
What this means for current and potential midmarket accounting teams: Integrating our close management software is quicker and more efficient as well as 30-50 percent less costly than competitive financial close products.
Want to see for yourself how FloQast can help your team close faster and more accurately—and do so for less cost than others? Register to see a live demonstration and we’ll show you how.
*Gartner Critical Capabilities for Cloud Financial Close Solutions, John E. Van Decker, Christopher Iervolino, Published: 8 August 2018
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