FloQast, a provider of close management software created by accountants for accountants to close faster and more accurately, announced Financial Close Product Comparison data from G2 Crowd user reviews that show integrating the cloud-based solution to be 4x faster while providing ROI in almost a third of the time when compared to legacy accounting and finance software.
G2 Crowd, the world’s leading business and software review platform, recently compared user satisfaction ratings of FloQast to that of BlackLine in the financial close vertical. Based upon 151 actual customer reviews, 90+ percent of respondents found implementing FloQast to take less than 30 days versus the legacy competitor’s average of 120 days.
“Legacy accounting solutions oftentimes force companies to change their processes versus integrating with those that are well understood and familiar,” said Michael Whitmire, CPA, co-founder and CEO of FloQast. “Modern, cloud-based close management software by contrast integrates with existing tools and business processes resulting in fast implementation and rapid user adoption.”
A traditionally underserved sector of business, mid-market companies have typically found implementing legacy finance and accounting solutions created for large enterprises to be costly and time consuming. FloQast provides powerful, yet easy-to-use, close management software ideal for midmarket organizations. Rapidly growing companies like Dollar Shave Club, Zillow, Zscaler, SoFi, Okta, Indeed, DocuSign and hundreds of others have turned to FloQast’s modern, cloud-based solution to close their month’s financials quicker and more efficiently. And the accounting industry is taking note.
“Given the increasingly complex accounting environment and the pressure to efficiently close the books in a compressed timeline with accuracy, manual processes and legacy solutions that take months to implement and almost two years to see payback are not an option,” said Gary Klintworth, Managing Director, ARC Consulting. “Modern solutions that are easy to use, quick to implement and integrate with existing tools and systems are the future and FloQast is emblematic of that trend.”
G2 Crowd also found that more than half of user reviews reported recouping their investment in seven months of starting to use FloQast. BlackLine took an average of 20 months as determined by their G2 Crowd user reviews in the comparison. FloQast customers typically close their books up to three days faster and more accurately when implementing the close management software.
To learn how FloQast shortens the month-end close process and increases accuracy, visit www.floqast.com/products and follow on Facebook and Twitter.