FloQast Continues Rapid Growth Through Addition of New Customers, Expansion of Team and 300+ Percent Increase in Revenue
Dec 05, 2016 | By FloQast
Company Adding New Customers at Rate of One Per Day
SHERMAN OAKS, Calif.--(BUSINESS WIRE)--FloQast, Inc., a provider of accounting close management software designed by and built for accountants, announced today that it added more than three dozen new customers in the 2016 third quarter. Additionally, as of September 30, 2016, the Company has grown its workforce by nearly 90 percent and increased revenue by more than 300% year-over-year.
FloQast is currently adding – on average – one new customer per day, as more and more companies recognize how the fast-to-implement, easy-to-use, cloud-based solution helps accounting departments streamline, manage and more efficiently close their books.
During the third quarter, FloQast acquired, among others, the following clients:
- Los Angeles Lakers
- Dixie Group
- Western Dental
With FloQast’s software, accounting professionals can work directly within the familiarity of Excel while reducing time to close by 40 percent, lowering their audit costs and more accurately and easily closing their books with no change to their business processes.
“The addition of these new customers is evidence that more and more leading organizations across myriad industries and of varying size trust FloQast to meet their close management needs. Our increasing client acquisition rate demonstrates that growing companies look to FloQast to speed their accounting close processes and lower costs,” explained Michael Whitmire, FloQast co-founder and chief executive officer.
“The month-end close process for many companies remains a manual, time-consuming process. Knowing there is an alternative that makes daily status meetings, long email chains and late nights in the office a thing of the past, while reducing close time and improving accuracy, is driving FloQast’s rapid growth. Our software is truly helping to transform accounting department operations and the way accountants work,” he concluded.
“With FloQast implemented, everyone in accounting is now on the same page and knows when tasks need to be accomplished and when they are due in order to close the books,” said Matt Southard, Controller at TeleSign. “All our balance sheet accounts are now being reconciled monthly, allowing the team to know if there are any further adjustments necessary before we publish financials to our C-suite/Board of Directors.”
FloQast, with monthly licensing rates starting at $79 per accountant, combines process management, reporting and collaboration into a single, intuitive solution that allows accounting departments to work together to quickly and accurately close their books. By directly integrating with both an organization’s document storage and financial applications, FloQast lets accountants work in Excel while keeping sensitive financial data secure in their own systems. This novel approach enables security, control and flexibility.
FloQast is a leading developer of accounting close management software, built by and for accountants. With FloQast, accounting departments can lower their audit costs and reduce close time by 40% without having to change any of their current business processes, including, among other practices, the use of Excel.
Based in Los Angeles, the Company works with hundreds of organizations, helping them to close their books more quickly, efficiently and accurately, including, among many others, Twilio, Nutanix, Zillow and The Golden State Warriors. To learn more, visit www.floqast.com and join the conversation on Twitter @floqast.