FloQast Launches FloQast Ops Best Practice Checklists To Deliver Financial Information And Audit Readiness With Greater Speed and Accuracy
Ready-to-go workflow checklists connect the Financial Close to upstream and downstream Finance and Accounting Operations
July 27, 2022 (LOS ANGELES) — FloQast, a provider of accounting workflow automation software created by accountants for accountants, today announced the addition of Best Practice Checklists to its FloQast Ops solution. These workflow checklists are a ready-to-go blueprint for Finance and Accounting teams that have automated the Financial Close but seek even greater velocity and accuracy to deliver financial information and audit readiness.
FloQast Ops Best Practice Checklists empower accounting teams to improve visibility and efficiency for critical areas in Finance and Accounting operations:
- With FloQast Ops Best Practice Checklists, cross-functional teams can collaborate on upstream processes like Accounts Payable (AP), Payroll, and Commissions to help streamline the process and avoid fire-drill follow-ups.
- Similarly, the Best Practice Checklists allow teams to collaborate on downstream processes like Financial Reporting, Financial Planning and Analysis and capture evidence, review, and sign-off for later audit support. Teams receive immediate insight into the status of the Financial Close and have a centralized place to collaborate and capture audit evidence.
- Lastly, teams are given more visibility into compliance downstream processes like Tax and audit preparation (PBC) and have the ability to collaborate with the teams performing the work.
The checklists are available to FloQast’s customers at no charge, making it easy for accountants to implement best practices in their operations.
“FloQast’s new Best Practice Checklists are an invaluable resource for teams looking to further streamline their Close process and their ability to quickly deliver financial information,” said Mike Whitmire, co-founder, and CEO of FloQast, inactive CPA. “Developed from working with hundreds of Finance and Accounting teams, we believe these checklists implemented with FloQast Ops will help teams get a leg up on increasing visibility, collaboration, documentation, and automation in areas both up and downstream from the Financial Close.”
A recent Ventana Research study showed that a fast, clean Close remains an unmet need for many organizations. The quarterly Close is the most challenging, with just over 20% closing in 4 business days or less. The same study showed that providing timely information continues to be a challenge for accounting teams, with fewer than one-third of organizations reporting the ability to provide timely information, with many responders reporting somewhat timely.*
Many FloQast customers are already implementing FloQast Ops to automate their Financial Close and further transform their Finance and Accounting operations. More than 650 FloQast customers use FloQast Ops to manage over 50,000 checklist tasks and 80,000 sign-offs related to workflows outside of the Financial Close.
To see FloQast Ops and the Best Practice Checklists in action, join us at FloQast’s virtual user conference TakeControl on September 21-22, 2022. For more information on FloQast Ops Best Practice Workflow Checklists:
FloQast delivers workflow automation software enabling organizations to operationalize accounting excellence. Trusted by more than 1,800 accounting teams – including Twilio, Los Angeles Lakers, Zoom, and Snowflake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline processes such as automated reconciliations, documentation requests, and other workflows that impact the month-end Close, financial reporting, and payroll, and is consistently rated #1 across all user review sites. Learn more at FloQast.com.
FloQast Director of Corporate Communications
* Ventana Research 2022 Dynamic Insights Report