In a world where accounting teams juggle month-end closings, audit preparations, and compliance requirements, finding ways to streamline financial processes is more crucial than ever. That’s where FloQast enters the picture. If you’re part of a finance team that struggles with manual reconciliations, disorganized documentation, or inefficient close processes, you understand the frustration these challenges bring. Missed deadlines, audit headaches, and the constant worry about accuracy can keep any accountant up at night. Let’s explore how FloQast addresses these pain points and whether it might be the solution your team needs.

Introduction to FloQast

What is FloQast and its Purpose?

FloQast is a close management and accounting workflow automation platform designed specifically for accounting teams. Unlike traditional accounting software that focuses on bookkeeping, FloQast complements your existing ERP system by providing a collaborative workspace to organize, standardize, and accelerate the financial close process.

At its core, FloQast aims to solve the inherent challenges in month-end closings by centralizing documentation, automating reconciliations, and creating clear workflows for accounting teams. It acts as a dashboard that gives both executives and staff visibility into the close status, ensuring accountability and improving accuracy.

The platform was created by accountants for accountants, which is evident in its design that addresses real-world pain points in financial workflows. FloQast integrates with popular ERPs and cloud storage solutions to create a unified system that eliminates the need for spreadsheet tracking and constant status update meetings.

Who is FloQast Designed For?

FloQast caters primarily to mid-market and enterprise accounting departments, though businesses of various sizes can benefit from its capabilities. The platform is especially valuable for:

• Corporate accounting teams struggling with month-end close efficiency
• Controllers and CFOs seeking better visibility into close processes
• Accounting managers who need to delegate and track tasks across team members
• Organizations preparing for audits or IPOs that need well-documented financial processes
• Companies with remote or distributed accounting teams requiring collaborative tools

While small businesses with basic accounting needs might find FloQast more robust than necessary, growing companies experiencing the pains of scaling financial operations will appreciate how the platform streamlines collaboration and documentation.

Getting Started with FloQast: How to Use It

Getting up and running with FloQast follows a structured implementation process:

1. Initial setup: The FloQast team works with your organization to understand your current close process, chart of accounts, and team structure.
2. Integration configuration: FloQast connects with your ERP system (like NetSuite, Sage Intacct, or Oracle) and cloud storage solutions (like Google Drive, OneDrive, or SharePoint).
3. Close checklist creation: Your recurring close tasks are organized into a customized checklist with assignments and deadlines.

4. Reconciliation setup: The system is configured to automatically match your trial balance with supporting documentation.
5. Training: Your team receives training on using the platform efficiently.
6. Go-live: FloQast becomes your central platform for managing the close process.

The typical implementation takes 4-6 weeks, though this varies based on the complexity of your accounting structure and processes. Once implemented, users access FloQast through a web-based interface where they can view their assigned tasks, upload documentation, and mark items as complete.

FloQast’s Key Features and Benefits

Core Functionalities of FloQast

FloQast’s platform offers several key functionalities that transform how accounting teams approach the month-end close:

1. Close Management

• Task tracking with due dates and assignments
• Real-time dashboards showing close progress
• Automated reminders for pending items
• Historical tracking of close times and bottlenecks

2. Documentation Management

• Centralized repository for supporting documents
• Version control for reconciliation files
• Standardized naming conventions
• Links between documents and financial statement line items

3. Reconciliation

• Automated tie-outs between trial balance and reconciliations
• Variance analysis with highlighting of significant changes
• Review notes and sign-offs within the platform
• Balance sheet fluctuation analysis

4. Compliance and Controls

• SOX compliance documentation
• Audit trail of all activities
• Review workflows with approvals
• Risk assessment tools

5. Integrations

• Direct connections to major ERPs (NetSuite, Sage Intacct, Oracle, SAP)
• Integration with cloud storage (SharePoint, Google Drive, Box)
• Export capabilities to Excel and other formats

Advantages of Using FloQast

The implementation of FloQast typically yields several measurable benefits for accounting teams:

Beyond these quantifiable benefits, users report less stress during month-end, improved work-life balance for accounting staff, and better strategic decision-making due to faster financial information availability.

Main Use Cases and Applications

FloQast supports several key accounting workflows:

Monthly/Quarterly Close Management
The platform’s primary use case is streamlining recurring close processes by centralizing tasks, documentation, and communication. Teams can track progress in real-time, identify bottlenecks, and gradually optimize their process.

Audit Preparation
FloQast creates a well-organized trail of documentation that makes audit preparation considerably less stressful. When auditors request support for specific accounts, teams can quickly locate the relevant reconciliations and documents.

Financial Controls and Compliance
For companies subject to SOX or other regulatory requirements, FloQast provides documentation of review processes, segregation of duties, and control procedures.

Remote Team Collaboration
With distributed accounting teams becoming more common, FloQast creates a virtual workspace where team members can collaborate regardless of location.

Mergers and Acquisitions Support
During M&A activities, FloQast helps standardize accounting processes across entities and provides transparency into the financial close process.

Exploring FloQast’s Platform and Interface

User Interface and User Experience

FloQast’s interface is designed with accountants in mind, focusing on clarity and efficiency rather than flashy design elements. The platform is organized around a few core views:

Dashboard View
The dashboard provides an at-a-glance status of the current close cycle, displaying completion percentages, overdue tasks, and upcoming deadlines. Managers can quickly identify bottlenecks or areas requiring attention.

Close Calendar
A calendar view shows the timeline of close tasks, helping teams understand dependencies and plan resource allocation effectively.

Task Management
Individual users have a personalized view of their assigned tasks, due dates, and dependencies, making it clear what they need to focus on each day.

Reconciliation Review
This section enables users to compare trial balance figures with supporting documentation, highlighting any discrepancies that require attention.

The user experience is generally praised for its intuitive design that requires minimal training for accounting professionals to understand. The interface prioritizes functionality over aesthetics, which aligns well with the preferences of its target users.

Platform Accessibility

FloQast is a cloud-based SaaS platform accessible through:

• Web browsers: The primary access method, optimized for Chrome and other major browsers
• Mobile view: While not a fully-featured mobile app, the platform is accessible on mobile devices for quick status checks
• Email notifications: Users receive alerts about tasks and deadlines without logging into the platform

The platform maintains high availability standards with minimal downtime, which is crucial for accounting teams working against tight deadlines. Single sign-on (SSO) options and role-based access controls ensure that team members have appropriate access levels to financial information.

FloQast Pricing and Plans

Subscription Options

FloQast operates on a subscription model with pricing primarily based on the size of your accounting team and selected feature set. While FloQast doesn’t publish specific pricing on their website, the subscription structure typically includes:

Standard Plan

• Core close management functionality
• Basic integrations
• Standard support
• Suitable for smaller teams with straightforward close processes

Plus Plan

• Advanced reconciliation features
• Enhanced compliance tools
• Expanded integration capabilities
• Better for mid-sized teams with more complex requirements

Premier Plan

• Full feature access including advanced analytics
• Premium support with faster response times
• Custom implementation services
• Designed for larger enterprises with sophisticated needs

Annual contracts are the norm, with discounts available for longer-term commitments. Implementation fees are typically separate from the subscription cost and vary based on the complexity of your accounting structure.

Free vs. Paid Features

FloQast doesn’t offer a free version of their platform, though they do provide:

• Free demos and consultations
• Trial periods for evaluation (usually time-limited)
• Educational resources and webinars accessible without purchase

All core functionality requires a paid subscription, which aligns with FloQast’s positioning as an enterprise-level solution rather than a freemium product.

FloQast Reviews and User Feedback

Pros and Cons of FloQast

Based on user reviews and industry analysis, here’s how FloQast’s strengths and limitations stack up:

Pros:

• 🔹 Significant time savings during month-end close (commonly reported at 20-50%)
• 🔹 Excellent organization of supporting documentation
• 🔹 Strong integration with major ERP systems
• 🔹 Clear visibility into close status for management
• 🔹 Responsive customer support with accounting expertise
• 🔹 Continuous feature improvements based on user feedback

Cons:

• 🔸 Implementation requires commitment and time investment
• 🔸 Premium pricing compared to simpler task management tools
• 🔸 Some users report a learning curve for team adoption
• 🔸 Customization sometimes requires professional services support
• 🔸 Mobile experience not as robust as desktop version

User Testimonials and Opinions

Users consistently highlight FloQast’s impact on their close processes:

“We reduced our close time from 20 days to 5 days within six months of implementing FloQast. The visibility it provides into bottlenecks was game-changing for our team.”
— Controller at a mid-size tech company

“The audit trail and documentation organization alone justified the cost. Our auditors commented on how much more efficient the process was compared to previous years.”
— CFO at a manufacturing business

“The initial setup required commitment, but the FloQast team was with us every step of the way. It’s transformed how we collaborate across our global accounting team.”
— Accounting Manager at a multinational corporation

Industry review sites typically show FloQast with 4.5-4.8 out of 5 stars, with particularly high marks for ease of use and customer support. The platform scores well in categories like “Likelihood to Recommend” and “Return on Investment.”

FloQast Company and Background Information

About the Company Behind FloQast

FloQast was founded in 2013 by Mike Whitmire (CEO), Chris Sluty (COO), and Cullen Zandstra (CTO). The founding team’s background in accounting (Whitmire is a CPA with Big Four experience) gave them firsthand insight into the challenges of the month-end close process.

The company is headquartered in Los Angeles, California, with additional offices and remote employees across the United States and internationally. FloQast has shown consistent growth, raising multiple rounds of funding from investors including Norwest Venture Partners, Insight Partners, and Polaris Partners.

Key milestones in the company’s history include:

• 2013: Founded in Los Angeles
• 2015: Raised Series A funding of $6.5M
• 2017: Series B funding of $25M
• 2019: Reached 750+ customers milestone
• 2021: Secured $110M Series D funding at a valuation over $1.2B
• 2022: Expanded internationally with EMEA operations

The company has received recognition through various awards, including:

• Inc. 5000 list of fastest-growing private companies
• Forbes Cloud 100 Rising Stars
• Great Place to Work certification
• Various accounting technology innovation awards

FloQast has maintained its focus on the accounting close process while gradually expanding its product capabilities to address adjacent workflows in the finance department.

FloQast Alternatives and Competitors

Top FloQast Alternatives in the Market

Several software solutions compete with FloQast in the close management and accounting workflow space:

1. BlackLine (https://www.blackline.com/)
   • Enterprise-focused financial close management with broader capabilities in reconciliations and compliance
   • More extensive feature set but often at a higher price point
   • Stronger in large enterprise deployments
2. Trintech Cadency (https://www.trintech.com/cadency/)
   • Comprehensive R2R (record-to-report) solution
   • Strong in risk management and compliance
   • Typically targets larger organizations
3. Vena Solutions (https://www.venasolutions.com/)

• Excel-centric approach to financial close and planning
• Combines close management with budgeting and forecasting
• Popular with Excel-focused finance teams

4. AuditBoard (https://www.auditboard.com/)
   • Focuses on SOX compliance and audit management
   • Has expanded into operational audit and risk management
   • Strong compliance-focused alternative
5. Oracle Account Reconciliation Cloud (https://www.oracle.com/erp/financials/accounting-hub/)
   • Native integration with Oracle ERP
   • Part of broader Oracle ERP ecosystem
   • Better fit for existing Oracle customers

FloQast vs. Competitors: A Comparative Analysis

When comparing FloQast to alternatives, several distinctions emerge:

FloQast differentiates itself through:

• Focus specifically on the close process rather than broader financial operations
• Design by accountants for accountants
• Faster implementation timelines
• Strong integration with cloud storage for documentation
• Balance of functionality and ease of use

The best choice depends on your organization’s specific needs:

• Choose FloQast if you want a focused close management solution with quick implementation
• Choose BlackLine if you need comprehensive reconciliation capabilities for a large enterprise
• Choose Trintech if risk management and compliance are primary concerns
• Choose Vena if your team has strong Excel preferences and needs planning capabilities

FloQast Website Traffic and Analytics

Website Visit Over Time

FloQast’s online presence has shown steady growth, reflecting increased interest in accounting automation solutions. According to public data from web analytics tools:

• The FloQast.com website typically receives 150,000-200,000 monthly visitors
• Traffic has grown approximately 20-30% year-over-year
• Seasonal peaks occur during traditional close periods (January, April, July, October)
• The blog and resource sections draw significant traffic from accounting professionals

Geographical Distribution of Users

FloQast’s market presence is strongest in North America but has been expanding internationally:

• 🇺🇸 United States: ~75% of website traffic
• 🇨🇦 Canada: ~8% of traffic
• 🇬🇧 United Kingdom: ~5% of traffic
• 🇦🇺 Australia: ~3% of traffic
• 🌍 Rest of world: ~9% of traffic

This distribution aligns with the company’s business expansion strategy, which has focused primarily on North American markets while gradually increasing presence in Europe and the Asia-Pacific region.

Main Traffic Sources

FloQast attracts website visitors through multiple channels:

• Organic search: ~40% (primarily from accounting workflow and close management related searches)
• Direct traffic: ~25% (indicating brand recognition)
• Referral traffic: ~15% (from accounting publications, partners, and industry sites)
• Social media: ~10% (LinkedIn being the strongest channel)
• Paid search/advertising: ~10% (targeted campaigns for accounting professionals)

The relatively high proportion of organic and direct traffic suggests strong brand awareness within the accounting community and effective content marketing strategies.

Frequently Asked Questions about FloQast (FAQs)

General Questions about FloQast

What exactly does FloQast do?
FloQast provides close management software that helps accounting teams organize, manage, and track their month-end close process. It centralizes documentation, automates reconciliations, and provides visibility into close status, helping teams close faster and more accurately.

Is FloQast a replacement for our ERP system?
No, FloQast complements your existing ERP system rather than replacing it. It integrates with your ERP to pull trial balance data while adding workflow management, documentation organization, and reconciliation capabilities that most ERPs lack.

How long does it take to implement FloQast?
Most organizations can implement FloQast in 4-6 weeks, though this varies based on complexity. The implementation process includes integrating with your systems, setting up your close checklist, and training your team.

Feature Specific Questions

Which ERP systems does FloQast integrate with?
FloQast integrates with most major ERP systems, including but not limited to NetSuite, Oracle, SAP, Microsoft Dynamics, Sage Intacct, and QuickBooks. Custom integrations can be built for other systems.

Can FloQast handle multi-entity consolidations?
Yes, FloQast supports multi-entity environments with capabilities for managing separate close processes while providing consolidated visibility. It can handle different charts of accounts across entities.

Does FloQast work with our existing document storage system?
FloQast integrates with common cloud storage platforms like Google Drive, OneDrive, SharePoint, and Box. It links your existing documents to the appropriate reconciliations without requiring you to migrate files.

Pricing and Subscription FAQs

How much does FloQast cost?
FloQast pricing is typically based on the size of your accounting team and selected features. While specific pricing isn’t published, subscriptions generally range from $10,000 to $50,000+ annually for most mid-market companies.

Is there a free trial available?
FloQast generally doesn’t offer self-service free trials but provides demonstrations and consultation sessions. In some cases, they may offer a limited pilot program for qualified organizations.

What’s included in the subscription?
Subscriptions typically include software access, regular updates, standard support, and basic training. Implementation services, premium support, and custom integrations may incur additional costs.

Support and Help FAQs

What kind of support does FloQast provide?
FloQast offers multiple support channels including email, phone, and a customer portal. Response times vary by subscription level, with premium tiers receiving faster service.

Is training included with FloQast?
Basic training is typically included during implementation. Additional training for new team members or advanced features may be available through FloQast University or for additional fees.

How often does FloQast release updates?
FloQast typically follows a regular update schedule with minor releases every few weeks and larger feature updates quarterly. As a cloud-based solution, updates are automatically applied without requiring customer action.

Conclusion: Is FloQast Worth It?

Summary of FloQast’s Strengths and Weaknesses

Key Strengths:

• Significant time savings in the close process (typically 20-50%)
• Improved visibility and accountability across accounting teams
• Strong documentation organization that simplifies audits
• Intuitive interface designed specifically for accountants
• Reliable ERP integrations that maintain data integrity
• Continuous improvement based on accounting user feedback

Key Limitations:

• Higher price point may be prohibitive for smaller organizations
• Requires commitment to implementation and process change
• Some advanced customizations need professional services support
• Primary focus on close management rather than broader accounting functions
• Mobile experience less robust than desktop counterpart

Final Recommendation and Verdict

FloQast delivers exceptional value for mid-market and enterprise accounting teams struggling with inefficient close processes, lack of documentation organization, or visibility challenges. The platform’s ROI typically manifests through:

1. Time savings – Both in overall close duration and accounting staff hours
2. Reduced audit costs – Through better documentation and preparation
3. Error reduction – By ensuring all accounts are reconciled and reviewed
4. Improved work-life balance – By streamlining month-end stress
5. Better decision-making – Through faster financial information availability

For organizations with at least five accounting team members and monthly/quarterly close cycles, FloQast typically provides returns that justify its investment within the first year. Companies with simpler accounting needs or very small teams might find the solution more robust than necessary.

The ultimate question is whether your accounting team’s efficiency, accuracy, and documentation challenges warrant investment in a specialized close management platform. For most mid-sized and growing organizations facing close process pains, FloQast represents a valuable solution that addresses real accounting workflow challenges with a platform designed by people who understand the profession.

If you’re considering FloQast, start with a demonstration and consultation to evaluate how the platform might address your specific accounting workflow challenges. Most organizations find that the initial time investment in implementation pays dividends through smoother, faster, and less stressful close cycles for years to come.