Case Study: Citiq achieves faster, more efficient month-end close with FloQast

Greater Visibility and Close Efficiency Transforming Citiq Prepaid’s Month-End

Citiq Prepaid, a leading South African provider of prepaid electricity and water metering solutions, faced significant challenges due to its rapid growth. Its accounting team was burdened with a manual, 15-day month-end close process reliant on email and spreadsheets, which caused delays, low trust in numbers, and difficulty tracking progress. To streamline workflows and gain visibility, Financial Director Harry O’Connor sought a solution and selected FloQast for its month-end management capabilities.

By implementing FloQast, Citiq gained structure and visibility into its accounting workflows. The solution automated processes and improved communication, which reduced the month-end close time from 15 days down to 9 days. The team also brought over 50 reconciliations into the close process. This efficiency dramatically cut the annual audit time from six months to just two and greatly increased trust in financial data, establishing the accounting team as a company-wide benchmark for performance.

Citiq

Harry O’Connor

Financial Director