Busting stereotypes about the accounting profession might not be the primary objective of Mike Whitmire, co-founder and CEO of FloQast. But he did a pretty good job of that when I spoke to him about FloQast Accounting Workflow Automation Software, which is all the rage on SAP Store. Mike is understandably proud of the fact that many of FloQast’s 600+ employees, including the sales team, have accounting backgrounds. ”They’re dynamic people,” Mike said – subject-matter experts who speak the customers’ language.

 

And I will contend that FloQast’s brand diverges wildly from the typecast CPA as staid, stiff, and conservative. To give you an idea, videos on the FloQast YouTube channel spoof “Titanic” – a noncompliance disaster – and the office at monthly close time, a zoo complete with monkeys and parrots.

 

Streamlining and Simplifying

 

The theme is that FloQast is designed to streamline all the downstream accounting processes that feed into the upstream workflow: payroll, audits, compliance reporting, earnings calls and everything else that impacts the company’s financial picture. The downstream processes, Mike explained, are the work of individuals often operating in silos to reconcile inputs from multiple sources. “There are so many nuanced details involved in the month-end close,” he commented. “It’s a terrible manual thing, and the deadlines are non-negotiable.” FloQast automates these workflows and provides visibility into every task with at-a-glance updates in a single dashboard. In short, the software unifies accounting operations, integrating with SAP ERP and SAP S/4HANA Cloud for a single central source of truth.

 

Educating and Entertaining

 

As for the lighthearted tone of the messaging, Mike remarked, the intent is to engage customers and prospects, educate and entertain viewers, and help FloQast recruit talent. Who wouldn’t want to work for a company whose homepage promises that you can “laugh, learn, and earn with FloQademy”? FloQademy is a free, on-demand CPE/CPD learning portal with courses designed by accountants – another offering of this multifaceted company.

 

The emphasis on all this great content is not a coincidence. Mike grew up in Los Angeles, aspiring to a career in film production. That ambition actually took him east to Syracuse University in upstate New York, which has an outstanding Film and Media Arts program. Once there, however, he gravitated toward accounting. But he retained his interest in performing arts and strongly believes in the power of storytelling in the business setting.

 

Thus, he took a huge risk, as he tells it, to start FloQast Studios, a full-scale production house dedicated to creating content for FloQast. In 2020, he went way out on a limb to convince a highly skeptical board of directors to support the venture. But in Mike’s mind, “We have a unique advantage in L.A with all the acting talent. And during the pandemic, they needed work.” To date, the creation of FloQast Studios has resulted in the production of the comedy series PBC, among other creative projects, including a twice-monthly educational podcast, featuring Mike himself.

 

Thinking and Building Big

 

How did Mike get from his job in accounting to founding a tech startup? Simple: He felt the pain of these tedious manual processes himself and recognized an opportunity. “I had no software development skills and knew nobody,” he readily acknowledges. But he connected with Amplify, a startup accelerator that helped direct him in the hunt for a co-founder and chief technology officer. Mike clicked with Cullen Zandstra, the perfect fit for the role, and they brought on Chris Sluty, a friend and fellow accounting major of Mike’s from Syracuse, as co-founder and chief product officer.

 

From the beginning back in 2013, the team had big goals to build a sizable company with large-enterprise customers; Mike was familiar with that world thanks to a previous role with EY. They were successful in landing venture-capital funding that would enable the company to scale quickly. Of course, they had to come up with a name for their young initiative. “We started with ‘FlowCast,’ trying to combine workflow and forecast. We liked the sound of it,” he recalled. But the domain was too pricey. Switching to the odd spelling was the trick. “It looks brilliant in hindsight, because the product has broadened its reach beyond month-end closing; now it can forecast dates of tasks and deliverables.”

 

Integrating and Collaborating with SAP

 

Today, FloQast works with more than 2,400 accounting teams, including many that run SAP software. A formal partnership with SAP, with certified product integration with SAP ERP and SAP S/4HANA, enables FloQast to offer customers a seamless experience and help them make the transition to the cloud. The partnership also supports FloQast in aligning with SAP’s corporate strategy, while inclusion on SAP Store provides visibility and sales opportunities.

 

Here's how you can find out about how creative accounting teams are working smarter with FloQast Accounting Workflow Automation Software on SAP Store.