VelocityEHS: FloQast Streamlines Processes & Makes Our Team Happier
Mar 13, 2019 | By Blake Oliver
Customers rave about the time they save with FloQast, but time isn’t the only benefit we hear about.
Recently, Krissi Paczolt and Victoria Lett of Chicago-based software company VelocityEHS detailed the impact FloQast has had on their accounting team since implementation.
“Previously, there was no way of keeping track of what tasks were assigned to me, or when my tasks were reassigned to someone else,” said Lett. “Now I can easily pull up a list of my tasks. I’m going home happier. I’m not stressed out anymore.”
A Growing Team with Huge Volume Needs a Better Process
VelocityEHS’s team of 16 handles a large volume of invoices each month — a minimum of 1,100. For this reason, several team members need to help with the monthly close. But a manual process that relied on spreadsheets stored on a shared drive was wreaking havoc. Multiple, conflicting files were being created, and Paczolt, Accounting Manager at VelocityEHS, had to spend time each month trying to organize the chaos.
A complicating factor was that, as a subsidiary of a public company, VelocityEHS is subject to the Sarbanes-Oxley Act (SOX). The manual process didn’t work well with their SOX controls.
“The process was long,” said Lett. “And if there was a note, you couldn’t tell it was there — there was no coordination or collaboration.”
VelocityEHS Shortens Close by Four Business Days
To address these challenges and establish a more sustainable close, the team chose FloQast.
“We were up and running in four weeks,” said Paczolt “Implementation was smooth.”
Once implementation was complete, more people were freed up to help with the close process, eliminating roadblocks that were previously slowing them down. This helped them shorten close time by four business days.
“There aren’t quite as many bottlenecks anymore,” Paczolt added. “Using FloQast has helped us identify what bottlenecks remain and establish why.”
According to Paczolt, FloQast has helps the team identify what bottlenecks remain and work together to solve them before they can compound themselves.
“One of my favorite features is getting emails when the reconciliations are out of balance, which gives me peace of mind,” she said. “I don’t need to worry about any last minute adjustments.”
A Happier Team with Less Stress
One of the most impactful benefits of using FloQast is that it reduces stress.
By creating an organized process, everyone has an accurate view of which tasks are assigned to them, and the person managing the close process can see at a glance which accounts are closed and which remain open. Team members know exactly what they need to do any given day, so they can plan their work without wondering if they’re missing something.
“No more meetings trying to figure out who’s been assigned what,” exclaimed Lett.
Based on her experience using FloQast, Paczolt has become an unofficial evangelist for the brand.
“I definitely recommend FloQast to other companies — I do it all the time,” she said. “I tell them about the benefits: You know when your accounts are out of balance, and you can get a snapshot of where you are in the monthly close.”