FloQast: How AI Transforms Accounting & Finance Functions

Chief Financial Officers are navigating talent shortages, rising expectations from CEOs and boards and increasingly complex global operations. But in this increasingly complex environment AI allows teams to keep pace.

Mike Whitmire is the Co-Founder and CEO of accounting transformation platform FloQast and has first-hand experience of this transformation. With a background spanning audit work at Ernst & Young and private industry accounting at Cornerstone OnDemand, a software-as-a-service company, Mike knows accounting’s pain points all too well. 

This is what inspired the creation of FloQast. Founded in 2013, the platform initially focused on month-end close and reconciliations for technology-forward companies. Today, FloQast employs more than 800 people across offices in Los Angeles, Chicago, New York, London, Sydney and San Francisco and has evolved from a close management solution into a comprehensive accounting transformation platform.

FloQast’s growth journey reflects the behaviour of its customer base. Controllers began using the platform to manage every workflow, not just month-end close, which Mike likens to effectively hacking the application for broader purposes.

“A fifth of our customers had hacked FloQast for at least one non-close workflow,” Mike explains. “So we said, all right, let’s lean into that.”

What followed was FloQast Ops, an offering that allows teams to manage any accounting workflow.