FLOQAST
FloQast specifically targets a crisis currently plaguing the US market: the significant accounting talent gap. With the number of accounting graduates falling behind economic demand, and more accountants retiring or leaving the profession entirely, Mike identifies three primary methods organisations are using to bridge the void:
• Outsourcing: shifting transactional accounting functions to offshore locations
• Technological Investment: utilising software to drive efficiency gains
• Labour Inflation: pushing existing teams to work excessive, unsustainable hours
“ This is the reality of the industry today,” Mike notes. However, these trends are exactly what prompted FloQast to act. As excessive hours create a cycle of burnout and low retention, AI offers a human-centric path forward.
“ We build technology that automates repetitive work,” Mike explains.“ It allows accountants to think critically, be more strategic and ultimately, be more impactful. We want to move people out of spreadsheets and manual reconciliations so they can focus on high-value initiatives that impact the business’ bottom line.”
For Mike, FloQast’ s mission transcends mere efficiency – it is about fundamentally evolving the nature of accounting work itself to ensure the profession remains viable and vibrant. floqast. com