FloQast, Inc., a provider of close management software created by accountants, has released robotics process automation (RPA) connectors for on-premise ERP solutions, providing an automated and easy way to make trial balances available in the cloud.
The new capabilities, called Cloud Connect, simplify corporate accounting teams’ reconciliations processes by eliminating the manual aspects of running and uploading of reports. Providing near real-time access to business data and historical snapshots over time, FloQast helps better organize, categorize and increase the accessibility of on-premise ERP data to improve the month-end close accuracy and process. For organizations that rely on traditional on-premise business applications, Cloud Connect offers a stepping stone to the improved efficiencies of cloud computing.
FloQast’s RPA cloud connectors are initially available for Oracle, and by year-end, will also be delivered for both SAP and Microsoft ERP applications. With Cloud Connect organizations enjoy:
- Set and Forget Settings – No ongoing configuration is required, nor is the running of manual reports that are subsequently uploaded
- Existing Infrastructure Leverage – Accounting teams can use their existing infrastructure by integrating with their cloud storage provider to automatically sync on-premise General Ledger balances in the cloud as often as they wish.
- Historical Data Insight – Since FloQast intelligently stores the trial balances over time, accounting teams can analyze trends and compare different time periods for improved business insight and intelligence.
“We are a large Oracle user with over 20 entities for which we close the books every month,” said Vaidas Birkus, senior vice president and corporate controller, GlobalLogic, a leading digital product engineering services company. “FloQast’s Cloud Connect helps eliminate the time-consuming manual process so that we have up-to-date financial data from our Oracle system automatically. This helps free up my accounting team to focus more on strategic activities that help our business run better.”