ZoomInfo Turns to FloQast to Drive Optimum Financial Efficiency and Transparency
LOS ANGELES, June 23, 2020 (GLOBE NEWSWIRE) -- FloQast, a provider of close management software created by accountants for accountants to close the books faster and more accurately, today announced that ZoomInfo, the global leader in go-to-market (GTM) intelligence solutions, utilized FloQast to help streamline and establish important financial processes for its finance and accounting teams in advance of the company’s much-anticipated IPO, which it completed on June 3, 2020.
Prior to evaluating FloQast’s financial close solution, ZoomInfo had explored numerous technologies for accelerating and improving the accuracy of the monthly close of its financials, and none met its strict requirements. With the company about to enter the long run-up to an IPO, Dave Witty, Director, Financial Systems at ZoomInfo, identified FloQast as the ideal, cost-effective solution his team required. Within two months, FloQast helped cut ZoomInfo’s monthly close from on average 30 days to five, providing a foundational technology for its short term accounting requirements and critical infrastructure to ideally prepare it for a successful IPO.
“ZoomInfo had FloQast up and running within two weeks, which is unrecedented for any software I have used in my 20-year career, and this included integrating it with our ERP system,” said Witty. “Once it was deployed, users were trained within sixty minutes, and we saw value out of it from day one. To this day, I have not had one single help desk request, which is a testament to FloQast’s intuitive features.”
With the onset of shelter in place requirements in advance of the IPO date, new challenges faced the accounting team. As its workforce adapted to remote work, the ZoomInfo team rapidly evolved existing processes to ensure efficiency, transparency for leadership, and maintain IPO readiness despite a challenging business environment.
"FloQast supported ZoomInfo’s seamless move to a work-from-home policy while maintaining complete control and visibility into our accounting close,” said Witty. “It’s allowed us to stay on schedule with our close, even after transitioning 1,300 employees to a work-from-home policy."
“With the myriad of financial and regulatory requirements and increased scrutiny that come with going public, finance and accounting teams need to start building the infrastructure that will support these years in advance,” said Mike Whitmire, CPA*, CEO and co-founder of FloQast. “Putting in place close management software to streamline the month-end close to enforce a uniform process and its controls is becoming a cornerstone for accounting teams at any business with plans to go public.”
Learn why the world’s fastest growing companies are choosing FloQast close management software to close faster and more accurately at www.floqast.com/products.