LOS ANGELES, May 06, 2020 (GLOBE NEWSWIRE) -- FloQast, a provider of close management software created by accountants for accountants to close the books faster and more accurately, today announced a new program that gives BlackLine customers free implementation services so they can be up and running for their next close on FloQast’s award-winning close management platform. The “Every Dollar Counts” program is a lifeline for organizations that have licensed BlackLine but never fully deployed the software or have struggled to fully realize its promised efficiencies. FloQast is rapidly emerging as a clear alternative financial close solution that is easy to use, deploys in weeks with payback in months, and is rated highest in user satisfaction scores.
As businesses reel from the broad economic downturn caused by the ongoing COVID-19 health crisis, many are increasingly taking the necessary steps to prepare for an impending recession. Organizations are reassessing their business plans and looking to reduce costs wherever and however possible. An obvious expense under scrutiny is recurring software subscriptions for underutilized applications that have not delivered the promised benefits and ROI or still have not been fully deployed across the organization due to inherent complexities. In some cases, these solutions have become dreaded “shelfware” and were never deployed at all.
FloQast has replaced BlackLine at more than two dozen companies. Many of these former customers did not fully deploy BlackLine or never reached full adoption within the accounting team and thus failed to realize the automation benefits they hoped for. Since FloQast’s cloud-based close management software first became available, it has rapidly gained a loyal and growing customer base for it’s rapid time to value, ease of use, and widespread team adoption.
In a 2019 G2 Financial Close Product Comparison that compared more than 250 user reviews for FloQast and BlackLine, reviewers reported it took one month on average to implement FloQast’s close management software. By contrast, BlackLine user reviews reported that it took on average five months to implement. In this same comparison, FloQast users reported that the solution paid for itself within eight months while BlackLine users reported it took more than two years for payback. In addition, across every user satisfaction rating measure including Ease of Use, Quality of Support and Ease of Setup, FloQast beat out Blackline.1
“I inherited BlackLine at a previous employer. It was overly complicated and lacked broad adoption by the organization,” said Vincent Gomez, Vice President and Controller of DOSH. “So when I found a solution in FloQast to replace Blackline that integrated with the tools my team already used, was easy to use and would implement quickly, it was a no brainer to make the switch. When I joined my new employer as Controller, one of the first things I did was rollout FloQast again.”
“In uncertain times, every dollar counts,” said Mike Whitmire, co-founder and CEO of FloQast. “One size does not fit all and for many organizations, the complexity of legacy close management software leads to poor user adoption and the promised benefits that drove the purchase are never realized. In any environment, but particularly in the challenging one that we now face, accounting teams require a solution that makes them more productive and their lives easier, and we are committed to making that possible for any organization.”
The Every Dollar Counts replacement program is available to all existing BlackLine licensed customers through June 30, 2020. To learn more about the program and how your accounting team can close faster and more accurately on FloQast, visit www.floqast.com/everydollarcounts.
About FloQast
FloQast is close management software, created by accountants for accountants to close faster and more accurately. On average, accounting teams who rely on FloQast close three days faster. Seamlessly integrated with ERPs and leveraging existing checklists and Excel, FloQast provides a single place to manage the month-end close and gives everyone visibility. The award-winning cloud-based software is trusted by more than 900 accounting departments, including those at Lyft, Twilio, Zoom and The Golden State Warriors. To learn more, visit www.floqast.com and join the conversation on Twitter at @FloQast.
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Contact:
Merrill Freund
BOCA Communications for FloQast
floqast@bocacommunications.com
415-577-8637
1 G2 Financial Close Product Comparison, User Satisfaction Ratings, September 12, 2019 - https://www.g2.com/grid_report/documents/floqast-vs-blackline-product-comparison-report