Closing in ERPs

Supercharging Your Microsoft ERP With FloQast’s Accounting Workflow Automation

Nov 08, 2021 | By John Siegel

FloQast Microsoft ERPs

As accounting teams continue to adapt to steadily growing expectations for quicker, more efficient processes and consistently accurate results, leaders need to be able to identify areas that can improve and implement something to do just that. 

For teams relying on Microsoft ERPs, those resources are readily available — if you understand what you’re trying to solve. For many Microsoft ERP users, FloQast is just that solution, offering leaders greater visibility into their teams’ progress, tools to boost those team members’ day-to-day effectiveness, and the ability to maintain audit readiness through it all, so that no one has to scramble when the auditors kick in the door (in a professional way).

Let’s take a look at how you can supercharge your Microsoft ERP using FloQast. 

Transparency Leads to Accountability

It might seem like a different lifetime, but for a long, long time, accounting teams were plagued with a lack of transparency, poor communication, and tribal knowledge. Implementing a cloud-based solution that offers team leaders using Microsoft ERPs insight into progress — or lack thereof — means they can reallocate resources to nip any outstanding/overdue tasks in the bud.

According to Stephen Zagg, Corporate Controller at Zagg, which uses Microsoft Dynamics, FloQast helped him and his team become more strategic over time.

“FloQast has provided greater visibility for the whole financial team and simplified the reconciliation and approval workstream. We can now pre-handle close deliverables to

get ahead of the monthly, quarterly, and annual close curve workstream,” Hayes said. “FloQast aligned well with our supporting file structure, without needing major modifications, and helped stratify reference and delivery of supporting documentation in a simple-to-access way. Centralized views allow us to help identify any outstanding close assignments and the party responsible for their completion.” 

Boosting Efficiency, Adding Flexibility

For years, experts predicted a slow, steady march toward a flexible work environment, one in which teams would employ remote, in-office, and hybrid remote-on-site employees. The global pandemic changed that in an instant, forcing teams to adapt rapidly to adapt all their processes so they could be executed by remote teams. 

For many teams working with Microsoft ERPs, FloQast proved to be the catalyst for the shift, improving communications between functions and streamlining overall efficiency due to the centralized nature FloQast offers.

According to Brenda Arnold, Chief Operating Officer, RevLocal: 

“The quality of the full close process has just been so much better,” said Arnold*. “We’ve knocked at least two days off our close. That’s two days when we can analyze and do more. We can move on to more exciting things.”

Audit Ready, Always

For accounting teams, audit season means double the work: looking back on the year that was while continuing to execute their day-to-day responsibilities. FloQast offers users a way to store supporting documentation and provide clear, concise lines of communication to back them up – allowing teams to simply provide their auditors with access to FloQast instead of round after round of PBC requests. 

A “set it and forget it audit?” Maybe not, but if you can cut the time required to execute an efficient audit, you can lower costs significantly.

“FloQast has become instrumental in providing the bridge between ZAGG’s internal audit functions and the SEC,” said Hayes. “It provides a critical point of reference, the checks and balances necessary to verify that appropriate internal accounting tasks have been completed and ratified.” 

The Bottom Line: FloQast’s Impact on Microsoft ERPs

Boosting team effectiveness, introducing a new level of transparency, and positively impacting the audit experience to reach beyond overall efficiency gains: They can — and often do — mitigate stress and improve employee engagement and retention. 

For Arnold, FloQast has meant more to her team than just improving communication and visibility. It’s offered a new level of fun to accounting processes. 

“How often does the accounting department get the new fun tool?” Asked Arnold. “I definitely think we got our return on our investment.” 

* Interview conducted in 2018 when Arnold was RevLocal’s Controller and Senior Director - Finance and innovation

Unlock the true potential of your Microsoft ERP

John Siegel
John Siegel is a Content Creation Manager 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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