The Joint Chiropractic Transforms Its Traditional Month-End Reporting and Close

Founded in 1999, The Joint Chiropractic has grown to a nationwide network of more than 900 chiropractic offices, with the goal of making routine chiropractic more convenient, friendly, and affordable. When accounting leaders wanted to streamline reporting, gain workflow visibility, and speed up the month-end Close, they chose FloQast. The Joint’s accounting team has centralized Close checklists, improved the auditor-accountant relationship, and enhanced accuracy and completeness of financial data and public reporting.

“Any kind of delay or problem with regulatory reporting is a big miss if you miss. FloQast pulls every step into one view so we don’t miss, and we can also easily edit and modify our steps as new regulations come into play every year.”

– Kelly Vargas, Vice President/Corporate Controller, The Joint Chiropractic

The month-end Close, particularly for publicly traded companies, is often a tedious and manual process with precise regulatory requirements, high stakeholder visibility, and rigid deadlines. Accuracy is of paramount importance, while speed and timeliness are critical.

Kelly Vargas knows this reality well. As Vice President and Corporate Controller at The Joint Chiropractic, Vargas and her accounting team of 10 are not only responsible for the month-end Close but also for the SEC, SOX, and outside auditor reporting that goes with it. This growing complexity was the precipitating factor in implementing FloQast.

“The accounting function now spans other departments and data sources that we never had to think about before,” Vargas said. “It’s more complex than ever, and we knew we needed FloQast to manage it, track it, and document every step for audit and accuracy.”

Industry surveys back up this growing need. A 2022 study conducted by Ventana Research showed that only 29% of organizations receive timely information from finance, and another 67% said the data is somewhat timely. Public or private, large or small, finance and accounting teams are responding to the challenge of producing timely data and insights with streamlined workflow and reporting from FloQast.

“From Close ops to reporting, FloQast is our one-stop shop. Tasks and due dates come from the same place, everyone knows what’s going on, and I can make changes to any of it with the click of a button, which not only saves me time but also makes our reporting more accurate and reliable.”

– Kelly Vargas, Vice President/Corporate Controller, The Joint Chiropractic

Centralized and Simplified Signoffs Create Audit and Public Reporting Efficiencies

Vargas and her team must work with auditors monthly, which drives a series of PBC (Provided By Client) lists requiring organization and discipline.

“With numerous PBC lists, it’s hard to know where to begin or how much is done,” Vargas said. “But by tracking reviews and signoffs automatically through FloQast, we create automatic PBC lists which our auditors can access directly with their own logins and reporting views.”

Vargas said regulatory reporting is another area that’s not as stressful as it used to be now that FloQast Close and Ops are in place.

“Any kind of delay or problem with regulatory reporting is a big miss if you miss,” Vargas said. “FloQast pulls every step into one view so we don’t miss, and we can also easily edit and modify our steps as new regulations come into play every year.”

FloQast Orchestrates a Faster, More Confident Close

The success of The Joint has caused growing pains, as well as visibility issues, said Vargas. However, the FloQast user experience and dashboards have been instrumental in team communications and collaboration.

“We don’t worry about who’s doing what or whether we’re using the right Excel file version now,” Vargas said. “The visibility through FloQast saves us time, allows us to collaborate with cross-functional teams, and ultimately helps us close faster to meet our deadlines for our internal and external stakeholders.”

The anxiety and loss of sleep due to uncertainty and delays have also disappeared for Vargas.

“Before, there was a certain amount of just hoping things came together correctly,” Vargas said. “Now, we’ve got schedules, tasks, and status reports that give us peace of mind that we’re on track for an accurate and timely Close.”

Vargas said her productivity as a leader – and her team’s productivity–has also increased across the board.

“From Close to reporting, FloQast is our one-stop shop,” Vargas said. “Tasks and due dates come from the same place, everyone knows what’s going on, and I can make changes to any of it with the click of a button, which not only saves me time but also makes our reporting more accurate and reliable.”

FloQast + AWS

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