FloQast Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS TOP 500 Market Report

FloQast Strengths, Domain Expertise, and Key Differentiators

FloQast is a cloud-based accounting automation platform designed to streamline financial close processes. Its key strengths include AI-powered automation for tasks like reconciliations and compliance, and a user-centric design that integrates seamlessly with tools like Excel and Slack. Built by accountants, for accountants, it offers solutions such as FloQast Close, FloQast Ops, and FloQast Compliance Management to automate end-to-end accounting workflows. The platform's cloud-native architecture ensures scalability and security, supporting businesses of all sizes. FloQast is recognized for its innovative approach to accounting operations, making it a trusted choice for global teams.

FloQast Recent Developments

FloQast expanded its accounting automation and compliance capabilities by launching AI-driven features such as automated bank-integrated reconciliations, real-time subledger integration, and rules-based sign-offs. It also introduced tools for managing fixed and amortizable assets and integrated customizable dashboards with business intelligence solutions. Enhancements to its Compliance Management solution include proactive risk assessment, support for major compliance frameworks, and automated internal audit processes. The platform now integrates with Microsoft tools like Visio, SharePoint, and Word to streamline documentation and collaboration. FloQast also released its unified Accounting Transformation Platform, combining various modules like Close, Compliance, and Ops, with new features for journal entry management, transaction matching, consolidation, and third-party integration through its FloHub.

FloQast Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying FloQast applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of FloQast and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FloQast Accounting Operations Platform, which includes FloQast Close, FloQast Ops, and FloQast Compliance Management customers.

FloQast Key Enterprise and Cloud Applications

FloQast Accounting Operations Platform, which includes FloQast Close, FloQast Ops, and FloQast Compliance Management

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FloQast Direct vs Indirect sales

FloQast Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified FloQast Customers

No. of FloQast Customers: 3000

No. of FloQast Enterprise Applications Customers: x

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FloQast serves over 3,000 customers globally, including major organizations like Twilio, Zoom, Snowflake, and the Los Angeles Lakers, across diverse industries such as gaming, retail, healthcare, and technology. Its platform has helped clients like Entain automate their month-end close and reconciliation processes, reducing time and improving team satisfaction. Similarly, a.k.a. Brands integrated FloQast's Compliance Management solution to streamline financial close and compliance processes, enhancing agility and reducing audit burdens.

FloQast Market Opportunities, M&A and Geo Expansions

FloQast has been expanding its international presence, particularly in Australia and New Zealand, where it established a new headquarters in Sydney to better serve regional clients. This expansion supports its efforts to strengthen its foothold in key global markets and offer localized solutions.

The company continues to innovate its platform by introducing new features, such as Variance Analysis and Compliance Management solutions, that meet the evolving needs of accounting professionals.

Alongside these innovations, FloQast has also experienced leadership changes, with new executives bringing fresh perspectives to drive growth and guide the company through its next phase of expansion. These strategic moves have positioned FloQast to continue its upward trajectory in the accounting automation space.

FloQast Risks and Challenges

Users have reported difficulties integrating FloQast with existing accounting systems, particularly when aligning its workflows with unique organizational processes. The platform's limited customization options may necessitate additional IT resources or workarounds, potentially leading to inefficiencies and increased costs.

The transition from manual to automated accounting processes can be met with resistance from staff accustomed to traditional methods. Overcoming this inertia requires comprehensive training and change management strategies, which can be resource-intensive and time-consuming.

FloQast is exploring the incorporation of artificial intelligence to enhance its platform's capabilities. However, integrating AI presents challenges, such as ensuring data accuracy, maintaining compliance, and managing the complexity of AI models, which could impact the platform's reliability and user trust.

FloQast Ecosystem, Partners, Resellers and SI

FloQast has developed a partner ecosystem that supports its accounting automation platform through various collaborations with consulting firms, technology providers, and system integrators. Notable partnerships include PwC UK and PwC Germany, where their consulting expertise is combined with FloQast's technology to help streamline financial close processes and improve compliance in the EMEA region.

Technological partnerships with AWS, Microsoft Excel, and Slack contribute to enhancing FloQast’s capabilities in scalability, security, and user experience. Additionally, collaborations with firms such as Riveron, CFGI, and Serrala provide specialized services in areas like technical accounting and financial automation.

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: