At the core of every efficient business lies their Enterprise Resource Planning (ERP) system, with ongoing management and maintenance often spearheaded by the accounting department. Accountants require an ERP system that contains the necessary tools and integration sets to manage the business without resulting in redundant activities. At FloQast, we understand the power an industry-leading ERP system with over 50+ years of experience, such as SAP, can offer organizations to drive efficiencies.
When leveraging SAP alongside FloQast, there are even greater capabilities to standardize, organize and automate all facets of the accounting operations cycle – from tracking operational activities such as payroll and sales tax to managing your full month-end close process and reporting, FloQast offers SAP clients a unique set of workflow and automation services that are unsurpassed in the market. It’s why we are honored to have hundreds of accountants already using FloQast in conjunction with SAP today.
Moving to cloud-based systems is a standard these days, but how do you begin? Coupling a natively developed cloud solution, like FloQast, alongside ECC provides accountants with a path to easily adopt a cloud system. For our S/4 HANA clients already on the cloud, automating their accounting processes becomes even more seamless. Our standardized checklist workflow templates can further simplify the process in moving to a cloud-based system without a full overhaul to your existing processes. Adoption of any system is critical – we just want to help. The Road to Hana begins now.
“Doesn’t SAP already automate the close for me?” is a very fair question. We’ve heard it from several of our SAP clients before realizing how FloQast differs from the Closing Cockpit. With our focus purely being on the Financial Close, we offer a dynamic task management service to capture 100% of all tasks relevant to complete the close. FloQast ReMind, fully integrated to our checklist, can also perform many of these tasks on behalf of the accountant offering teams a new level of efficiency. Throw in our ability to automate and ascertain completeness of reconciliations and it becomes clear FloQast and SAP result in many unlocked benefits.
It’s no surprise accounting teams require a standardized and consistent close process yet often need the ability to easily modify operations as the business grows and scales. FloQast has achieved this best-of-both-worlds approach by offering unique automation tools that contain the controls needed, but are quick to deploy and require minimal to no IT maintenance.
Our industry-leading Reconciliation Management platform provides transaction matching services that doesn’t require users to build and maintain “pass rules” – let our machine learning do the work for you, making matches in seconds.
Managing the close by focusing on material reconciling items? Avoid double data entry by having FloQast automatically retrieve reconciling items from supporting documents and generate a global reconciling items report to understand which adjustments need to be booked.
More than just a repository to house reconciliations – FloQast provides a consistent folder structure to serve as the foundation for a repeatable process. Tasks are standardized by due date and assignee with automated alerts to notify appropriate parties when an action is needed. Upon the beginning of each period, let FloQast automatically rollforward the folder structure, task list and reconciliations allowing the team to begin subsequent period activities instantly without worrying about standardization.
“With competing solutions, you have to move all balance sheet account reconciliations from Excel into a pre-built reconciliation platform. It was extra work to put something into a close management tool for account reconciliation purposes and then take it out (and back into Excel) for internal distribution to non-accounting business partners. Our team liked that FloQast was a user-friendly layer on top of existing Excel-based reconciliations. We did not need to implement an unnecessary full-scale process change. FloQast made for an intuitive implementation with a tool our team already uses.”
Corporate Controller, Ironwood Pharmaceuticals