In this edition, we feature the work of FloQast, a disruptor in the Record-to-Report industry. As with many of the top innovations we cover in this series, the company’s inception was rooted in the founders’ frustrating first-hand experiences of managing some of the most manual, repetitive, and unproductive process steps of the financial close. Co-founder Mike Whitmire, who now refers to himself as a “lapsed CPA,” recognized the need for a more effective way of handling close activities, thus giving birth to the company.
The Record-to-Report process is a dynamic and rapidly evolving field that addresses the gaps that have been left by legacy CPM (Corporate Performance Management) and consolidation systems that have dominated the vendor landscape for nearly two decades.
Drawing on his extensive industry and audit profession experience, Mike Whitmire and his colleagues have revolutionized how the end-to-end close process and compliance is automated, managed, and controlled in the cloud. The result is innovative, adaptable, and highly configurable solutions that can cater to the complexities of even the most demanding multinational corporations, while also providing a more streamlined approach for mid-market companies.
In this showcase, we have handpicked three distinct areas that we consider are particularly exciting and ground-breaking. It’s an exciting opportunity to explore some of the most innovative and game-changing developments in finance processes that are currently making waves in the industry.