When we created FloQast, our goal was to help accounting departments close the books faster. Over time, however, we found many clients end up using our close management software for more than just managing the month-end close.
“We use FloQast to do everything from handling the reconciliations, to what procedures need to be done, and use it for documentation around the audit,” says Jerry Raphael, VP of Finance at Stack Overflow.
Accounting During Rapid Growth
Headquartered in the heart of Lower Manhattan, Stack Overflow offers developers ways to add skills and grow as professionals. Since 2008, the company has accrued an impressive following, with more than 50 million developers visiting its site each month.
Rapid growth meant Raphael needed to identify a tool the accounting team of six could use to close the books faster.
“When you’re in there crunching numbers, the best tool that you have in your toolbox is Excel,” admitted Raphael. Because FloQast integrates with Excel, the Stack Overflow team can keep using their most reliable tool. “We would not have used a software that wasn’t compatible with the tools that we currently have.”
The Right Fit at the Right Time
After seeing a FloQast demo at the Sage Intacct Advantage conference, Raphael knew there was a fit.
“It was extremely easy to use,” said Raphael. “It’s made a real difference for our close process.” That “real difference” meant that almost immediately, the team was able to cut their close time in half — from 22 days down to just 10. As Robyn Wertman, Director of Accounting, put it, FloQast “…gives us more days in our month.”
Best of all, Raphael said “…one of the biggest benefits for me is I’m able to sleep at night. I know that my accounts are reconciled. I’m audit ready.”
To learn more about their journey from a three-week to a ten-day close, download this case study.