FloQast Releases Connect 2.0 to Improve Accounting Practices for Companies That Rely on Traditional ERP Systems
Sep 26, 2019 | By GlobalNewswire
FloQast Now Seamlessly Connects to Oracle, SAP, Workday and Other On-Premise ERP Systems, Spurring Accelerated Adoption of Close Management Software Among Larger Organizations
LOS ANGELES, September 26, 2019 — FloQast, the leading provider of close management software created by accountants for accountants to close the books faster and more accurately, today announced the release of FloQast Connect 2.0 to provide organizations with frictionless connectivity between on-premise ERP systems and cloud-based close management software. Connect 2.0, a Robotics Process Automation (RPA) connector for on-premise ERP solutions connects with almost all on-premise ERP systems to seamlessly share General Ledger data and account notifications within FloQast. The release of an enhanced version of the FloQast Connect 2.0 is in direct response to the increased demand for the company’s close management software by organizations that rely on Oracle, SAP, Workday and other on-premise ERP systems.
Despite the rapidly growing adoption of cloud applications across every department in every organization, many companies continue to rely on on-premise ERP systems to manage their back office operations. As a result, data within these legacy systems is often times siloed, and access to it is restrained by kludgy workarounds. With Connect 2.0, FloQast is removing these bottlenecks to empower organizations to securely unlock their data to streamline and improve monthly business processes.
Connect 2.0 provides accounting teams with a secure and automated way to seamlessly integrate transaction data within existing on-premise ERP systems with FloQast’s cloud-based close management software. Teams can configure Connect 2.0 to automatically update their ERP data in FloQast as often as every 30 minutes. This is particularly important for companies that have grown through acquisitions, and have multiple ERP systems. With Connect 2.0 organizations can now:
- Connect with almost any ERP, including Oracle, SAP, Workday, Microsoft Dynamics, Yardi and hundreds of others. Files are stored securely on the company’s chosen cloud storage provider via secure FTP.
- Manage multiple Trial Balance files across all business units, international subsidiaries global currencies and ERP systems.
- Obtain near real-time updates such as automated email notification when accounts are out of balance after one or more sign-offs have already been logged in FloQast.
“Accounting teams that rely on FloQast for their month-end close typically close three days faster than they did without us,” said Mike Whitmire, CPA*, co-founder and CEO of FloQast. “However, when general ledger data is locked away in on-premise ERP systems, organizations are forced to find workarounds for getting to the data that can erode the efficiencies gained using a solution like FloQast. With Connect 2.0, FloQast is providing a secure, automated way to tap into on-premise data, ensuring accounting teams realize the full value of our close management platform.”
“The complexities of our global business require an enterprise General Ledger, which today largely remains in on-premise systems,” said, Bich-Thuy Tran-Minh, director of accounting assurance, GlobalLogic. “FloQast Connect is the ideal approach for tying our Oracle system with FloQast’s close management solution to streamline our accounting processes, optimize our monthly close and make my life way easier, too!”
To learn more about FloQast Connect 2.0, visit www.floqast.com/products.
FloQast is close management software, created by accountants for accountants to close faster and more accurately. On average, accounting teams who rely on FloQast close three days faster. Seamlessly integrated with ERPs and leveraging existing checklists and Excel, FloQast provides a single place to manage the month-end close and gives everyone visibility. The cloud-based software is trusted by more than 750 accounting departments, including those at Twilio, DocuSign, Zillow and The Golden State Warriors. To learn more, visit www.floqast.com and join the conversation on Twitter at @FloQast.