Established a standardized close process that improved consistency and transparency on a global scale.
Enabled team leaders to review team progress easily and ensure accountability across a global team.
Increased overall confidence in financial reporting.
Amit Dolev wanted to know what was working and what wasn’t working with the month-end Close. He wanted to see all the steps in one place — along with key performance indicators — so he and his accounting team could get better and faster.
That’s what got him excited about FloQast.
“My first reaction was ‘Finally!’ instead of doing the same things we’ve been doing over and over — daily to-do lists, status updates, etc.— this was a way to add structure to our operations. I was really excited that there would be a way for us to step back and analyze what we were doing to understand what was working and what could be improved. ” said Amit.
As EMEA Controller for Gong, the Revenue Intelligence leader with 4,000 customers, Amit and his team implemented FloQast in April 2022 to better support the organization’s high growth and ambitious goals.
Amit knew that improving communication — particularly around the month-end Close — could make a big difference for his global team.
“We wanted to create a better way of communicating between the teams, especially regarding the projects we were working on,” said Amit. “It wasn’t so much about communicating that you were done with a certain task: We wanted to implement a tool that would help us streamline our process and make it clear who was working on what, when, and when they were finished.”
Joining the organization following its FloQast implementation, Kim Le, Senior Manager, Corporate Accounting & Reporting, had no experience with accounting workflow automation and admitted that she was unsure how the new tool would impact her onboarding process. Quickly, though, those concerns dissipated as she started using the product daily.
“I had never used a tool like this before, and naturally, starting a new job brings some level of anxiety when you’re trying to understand the close process and procedures specific to each company. In the past, I used to manage my calendar and deadlines in Excel to stay on track. However, with FloQast, everything is outlined on a daily basis, and the level of detail we’ve incorporated into FloQast, where each step is a procedure, has greatly expedited my learning process and helped me grasp the technical aspects of the job quickly.”
Sarah Del Rio, who joined the company at the same time as its Global Controller, also noted that having FloQast in place made her onboarding process simpler while giving her a quicker, more holistic view of how it operated.
“FloQast provided us with a more comprehensive understanding of our Close process, including the tasks and progress of each team member,” said Sarah. “This allowed us to assess roles and responsibilities at a higher level, ensuring we had the right people in the right positions. From an organizational standpoint, this was incredibly beneficial and helped streamline our operations.”
Having used the product for over a year, Kim said she sees FloQast as vital to the team’s success. She shared how it has streamlined their close by identifying duplicative tasks and making their overall close more efficient, accurate and timely.
“I use FloQast daily, and it is an essential tool for our entire team,” said Kim. “We can easily access the checklist and see which tasks are due on the current day or in the near future.”
As a reviewer, Kim focuses on two key areas: items that are ready for assessment and tasks that are overdue. Using FloQast dashboards, she can quickly see the status of open tasks, follow up with the preparers, and address any obstacles they may face in meeting deadlines.
“After the Close, we ensure that all work papers are signed off and completed, conduct completeness checks on reconciliations, and reconcile accounts with balances on the balance sheet,” said Kim. “We rely on FloQast every day for these critical tasks.”
When asked what her favorite feature is, Le doubled down on the “ready to review” filter FloQast offers.
“That filter is my Google Maps for the day,” she said. “It tells me exactly what I need to be doing, and that’s exactly what I need. Having those filters on the checklist portion of FloQast helps me get a pulse on where everyone is with their tasks.”
For every accountant, accuracy is crucial. But with a company growing as fast as Gong, ensuring consistent accuracy became a cause for concern for the team. To remedy this, the team turned to FloQast Reconciliation Management for its account reconciliations.
“FloQast Reconciliation Management is an excellent capability,” said Amit. “Given how much we’ve grown, there was a lot of back-and-forth with numbers changing. Sometimes we would catch them pretty late in the process. With FloQast, we receive timely notifications whenever a number is modified, preventing any miscommunication or missed updates.”
Kim agrees Reconciliation Management has been instrumental considering her role.
“I absolutely love that capability. Before FloQast, I used to run a trial balance multiple times a day, constantly checking for changes. Now, I rely solely on FloQast to alert me whenever a change requires us to revisit our work papers. The email notification is a great addition because I can easily review it every morning.” – Kim Le, Senior Manager, Corporate Accounting & Reporting
When asked if she would recommend FloQast to controllers in similar situations to hers, Sarah Del Rio doesn’t hesitate.
“FloQast makes our team more efficient overall,” said Sarah. “By providing visibility and clarity, it has fostered a culture of accountability. With FloQast, there is no longer a need to constantly track down team members or engage in daily conversations to monitor progress. The platform’s transparency has made it easy to see where everyone stands and hold them accountable for their tasks.”
Amit echoed those sentiments, noting that the confidence FloQast affords him is tremendously valuable.
“FloQast gives me peace of mind knowing everything is in control,” said Amit. “The visibility is so important for a team separated by geography and numerous time zones, but knowing that the numbers are accurate and nothing is being changed by accident gives me a ton of confidence.”
FloQast is a leading developer of close management software, created by accountants for accountants to close faster and more accurately. Working with accounting teams’ existing checklists and Excel, FloQast provides a single place to manage the month-end close and gives everyone visibility. FloQast customers close on average three days faster. The award-winning solution is trusted by hundreds of accounting departments, including those at Twilio, Zoom, Snowflake, and The Golden State Warriors.
Join the conversation on Twitter @floqast.