FloQast

TL;DR

AI-powered platform to standardize, automate, and audit the month-end close.
Automates reconciliations, variance analysis, journal entries, and evidence collection.
Integrates with leading ERPs to deliver audit-ready workflows and global visibility.
Best for mid-market and enterprise accounting teams seeking faster, more accurate closes.

What is FloQast

FloQast is an AI-powered accounting transformation platform that automates the month-end close, reconciliations, variance analysis, journal entry management, and connected compliance. Built by CPAs, it layers on top of your ERP to standardize workflows, elevate preparers into reviewers, and generate audit-ready documentation. As a comprehensive AI Accounting Close & Compliance platform, it helps teams accelerate record-to-report, mitigate risk, and reduce audit costs across a single system.

Key Features

• AI Agents for Accounting: Automates reconciliations, follow-ups, inbox workflows, and task execution to shift staff from manual prep to higher-value review.
• Automated Reconciliations & AI Transaction Matching: Matches thousands of transactions in minutes and flags exceptions so teams focus on discrepancies instead of rote matching.
• AI Variance Analysis (Flux): Scans transactional data to auto-detect variance drivers and draft narrative explanations for period-over-period and budget vs. actual analysis.
• Journal Entry Management: Streamlines creation, approval, and posting of journal entries with standardized controls to ensure completeness and accuracy.
• Global Month-End Close (Checklists): Centralizes checklists and close tasks; AI can generate tailored checklists by industry, size, and stage to standardize processes.
• Close Analytics & Visibility: Provides progress tracking and operational insight into who is doing what and when, improving accountability and reducing cycle time.
• Connected Compliance (Evidence & Risk): Automates evidence collection, supports enterprise risk management, and streamlines audits within a unified, audit-ready hub.
• AI Testing: Applies AI to testing workflows to increase coverage and reduce manual validation effort for controls and reconciliations.
• Integrated Record-to-Report: Accelerates reporting with variance analysis, consolidation, and intercompany capabilities to maintain accuracy across entities.
• Email Workflow Automation (ReMind): Uses AI to draft emails, track responses, and automate document requests, compressing follow-up time across close tasks.
• Extensive ERP Integrations: Connects with NetSuite, Sage Intacct, Microsoft, SAP, Xero, and more to unify accounting workflows across systems.
• Trust, Security, and AI Governance: Built for assurance with enterprise safeguards and ISO 42001 certification for responsible, auditable AI development.

Who is FloQast for?

FloQast is an AI-powered accounting transformation platform that automates the month-end close, reconciliations, variance analysis, journal entry management, and connected compliance. Built by CPAs, it layers on top of your ERP to standardize workflows, elevate preparers into reviewers, and generate audit-ready documentation. As a comprehensive AI Accounting Close & Compliance platform, it helps teams accelerate record-to-report, mitigate risk, and reduce audit costs across a single system.

Key Use Cases & Applications

• Standardizing global month-end close with AI-generated checklists and real-time task tracking.
• Automating bank, balance sheet, and subledger reconciliations with AI transaction matching.
• Producing Flux narratives automatically for financial statement variance analysis.
• Streamlining journal entry preparation, approvals, and posting with embedded controls.
• Automating evidence collection and control testing for SOX and internal audits.
• Accelerating record-to-report with consolidation and intercompany workflows.
• Coordinating document requests and follow-ups via AI-powered email automation.
• Enhancing close analytics and visibility for Controllers and CFOs across entities and regions.

Pros

• Intuitive, accountant-first workflows designed by CPAs reduce change management friction.
• AI-driven automation shifts effort from manual prep to exception review across reconciliations and variance analysis.
• Customer-reported impact includes faster monthly closes and substantial reductions in reconciliation and audit time.
• Modular platform spans close, compliance, and record-to-report, reducing the need for multiple point solutions.
• Strong security posture and ISO 42001 certification support auditability and responsible AI use.

Cons

• Pricing is not public and typically requires a sales-led demo and scoping.
• Value depends on clean data and ERP connectivity; initial connector setup and account mapping take deliberate planning.
• Some advanced capabilities are modular, so organizations may need multiple add-ons to cover all workflows.
• Best aligned to accrual-based, multi-entity environments; very small, simple close processes may find it more than they need.

Pricing Info

Pricing is not publicly available, You need to contact them.