US-based accounting software company FloQast has launched an AI-powered Accounting Transformation Platform to introduce new efficiencies in accounting automation.
Reported as being ‘designed by accountants for accountants’, the platform encompasses the entire FloQast solution portfolio, including FloQast Close, FloQast Compliance Management, and FloQast Ops.
It introduces new AI workflows that enhance value across the accounting journey, from optimising and automating the close to connected compliance and integrated record-to-report functions.
Built from deep industry expertise and direct customer feedback, the platform is a result of over a decade of innovation, bolstered by recent AI advancements, the company claims.
It responds to the evolving market demands, regulatory changes, and the increasing need for accounting leaders to deliver more with less resources amidst a talent shortage.
The integration of AI into the platform provides a competitive edge, driving efficiencies and insights for organisations and accounting teams and helping improve decision-making.
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By GlobalDataFloQast CEO and co-founder Mike Whitmire said: “We’re launching the FloQast Accounting Transformation Platform at a time when the accounting profession faces unprecedented challenges.
“With the number of practicing CPAs declining and fewer new professionals entering the field, the pressure on accounting leaders to do more with less has never been greater. This platform is designed to meet that reality head-on, using the power of AI to create solutions that not only streamline and automate critical processes but also enhance the strategic value of accounting teams within their organizations.
“In today’s landscape, the ability to drive operational excellence isn’t just a competitive advantage—it’s essential for future business success.”
The company’s new release includes three fresh solutions: FloQast Journal Entry Management, FloQast AI Transaction Matching, and FloQast Consolidation.
Additionally, FloHub, a central hub for third-party applications, has also been introduced.
The launch also features significant updates to existing offerings, enhancing the platform’s overall efficiency.
