Streamlining Efficiency with FloQast Journal Entry Management at Pearl

When Pearl (formerly JustAnswer), a global expert marketplace, started preparing for anticipated growth and potential IPO readiness, the accounting team hit a wall. The Excel spreadsheets and manual workflows that had worked fine during their startup days were becoming a nightmare as the company scaled, and Andy Pfertner, Controller at Pearl, knew something had to change.

The team was drowning in inefficient processes, spending countless hours on tedious tasks that left little room for strategic work. Worse yet, auditors were flagging their manual documentation as inadequate, putting their IPO timeline at risk. That’s when they implemented FloQast, and the rest is history.

When Excel Spreadsheets Become Your Worst Enemy

Before FloQast Journal Entry Management (JEM) entered the picture, Pearl's journal entry process was a maze of Excel files scattered across shared drives. The team would manually create spreadsheets, save them in "in-process" folders, move them to "completed" folders, and hope nothing got lost in the shuffle. It was the kind of system that works until it doesn't.

"Our process was clunky and cumbersome," Andy explained. "Preparers would manually complete Excel forms, save them on the shared drive, and send them for review. Then, someone else would upload the entry into Intacct before another round of reviews. It was a lot of back-and-forth, with plenty of room for delays and errors."

The real wake-up call came when Pearl prepared for their potential IPO. Auditors expressed concerns regarding the manual processes. The scattered documentation and informal approval processes that had been "good enough" for a smaller company suddenly became compliance red flags. The team realized they needed more than just a process improvement – they needed a complete transformation.

Everything Changed on Day One

The moment Pearl implemented FloQast JEM, the difference was obvious. No more hunting through shared drives for the right version of a spreadsheet. No more wondering if someone had actually reviewed an entry. Everything was centralized, tracked, and transparent.

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"We were already seeing improvements on the first day. JEM consolidated everything into one place, making it easier and faster to manage the entire process."

- Andy Pfertner, Controller at Pearl

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The platform's dashboard became the team's command center, showing exactly where every journal entry stood in the approval process. Stephen Schaad, Senior Accountant at Pearl, immediately noticed how much clearer everything became.

"Now, you can easily track outstanding items and address them promptly," Stephen explained. "The dashboard simplifies everything, saving us so much time and effort."

But the real magic happened behind the scenes. All those tedious manual tasks – double-checking uploads, verifying approvals, chasing down missing documentation – simply disappeared. The system handled it all automatically, freeing up the team to focus on work that actually moved the business forward.

The Numbers Don't Lie: 25-30 Hours Back Each Month

Looking to make efficiency gains, Pearl's accounting team realized they were spending 25-30 hours each month on mundane journal entry tasks that added no strategic value. FloQast JEM gave them all that time back, turning an eight to nine day process into just five.

"These were tedious, mundane tasks," Andy said. "Automating them allowed my team to focus on more important work, like improving financial analysis and reducing our close timeline."

The time savings were just the beginning. JEM's built-in approval workflows and automatic documentation meant everything was audit-ready from day one. No more scrambling to piece together approval trails or wondering if proper controls were followed.

"We haven't had an audit yet, but the system is ready for it," Andy noted. "Everything is timestamped and centralized. The difference is night and day – we are never going back to scattered Excel files."

This wasn't just about efficiency; it was about transforming how the entire team worked. Instead of spending their days managing administrative tasks, they could finally focus on analysis, strategic planning, and preparing for the company's next growth phase.

Implementation That Actually Worked

An unexpected surprise was how easy it was to implement JEM. Although they were part of the initial beta program, Pearl's transition to FloQast JEM was remarkably smooth. No lengthy implementations, no consultant armies, no months of system disruption.

"Honestly, it didn't feel like a beta test," Stephen said. "From the start, the workflow was easy to follow, and any minor adjustments were simple to address."

Andy had expected the typical software rollout headaches — user resistance, training challenges, integration issues. Instead, the team adapted almost immediately.

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"I probably expected the implementation to be slightly harder than it was. But it wasn't. Within a week or two, everyone felt comfortable using it."

- Andy Pfertner, Controller at Pearl

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The user-friendly design meant minimal training was needed. Team members could jump in and start using the system without extensive onboarding. This quick adoption was crucial for maintaining momentum during their busy IPO preparation phase.

Building a Foundation for Growth

With FloQast, Pearl finally had the robust accounting infrastructure they needed for their next chapter. The platform's flexibility and integration capabilities gave them confidence they could scale without running into the same operational bottlenecks.

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"It checks all the boxes: close management, reconciliations, journal entries, and audit readiness. It's an all-in-one solution that just gets better over time."

- Andy Pfertner, Controller at Pearl

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For Stephen, the transformation was so complete that returning to the old way of doing things seemed impossible.

"The improvements we've seen with FloQast have been incredible. It's hard to imagine going back to the way we used to do things."

Pearl's experience proves that the right technology can completely transform how accounting teams operate. What once felt like an insurmountable challenge – managing complex journal entry workflows while preparing for IPO-level scrutiny – became manageable with the right tools. For companies facing similar growing pains, Pearl's story shows that meaningful change doesn't have to be complicated or disruptive. Sometimes, the right solution can transform your entire workflow from day one.