FloQast launches AI agent builder

Accounting software provider FloQast announced that users can now craft their own AI agents through natural language prompts, alongside several new AI-based capacities for the platform. 

Announced during its annual TakeControl event, the agent builder sits inside the company's Transform solution, which houses other AI agents developed by FloQast. The builder allows users to create and manage their own custom agents with no coding required, which gives them the ability to automate specific, unique workflows that address their specific needs and challenges. People start by describing their processes and methods in a conversational interface on the left hand side of the screen, walking the AI through the steps the user wants the agent to perform. The model learns from the user and applies the steps it was instructed to follow.

Oftentimes with automation tools, people usually know the inputs (because they put them there) and the outputs (because they see the results) but not the middle part, where the AI actually performs the work. FloQast's solution, on the other hand, provides real time visibility into the agent's activities as they are happening, as well as logs their actions for auditability and oversight. 

The Muse

"They can understand [the agent's processes] step by step and audit some of this stuff in real time. A lot of the problems with the workflow automation tools that are out there on the market is typically this middle piece is a complete black box. You push data in, you get data out at the end of the day, but auditability has not really been top of mind," said Chris Sluty, co-founder and chief product officer for FloQast, during a live briefing. 

He added that every agent requires human-in-the-loop review to verify and ultimately sign off on an agent's work. For instance, an agent could be instructed to fetch data from its spend management platform, compare it to information from the firm's ERP, calculate average daily values, calculate expenses, map those expenses, and then fetch a standard journal entry template, after which point the human is prompted to review and approve the process so far. After confirming the output, the agent would then send this journal entry to the firm's journal entry management product with the relevant documentation. The human then reviews this journal entry and, ultimately, pushes it back to the ERP. 

"AI Agent Builder is a transformative tool that greatly improves the day-to-day productivity of accounting teams," said Chris Sluty, co-founder and chief product officer for FloQast. "Teams can now easily create, test, and manage custom AI Agents that meet their specific business needs with no coding required, all while maintaining full control with human-in-the-loop review. This is about empowering every team member to drive real business impact," he said in a statement. 

The goal with these agents, he said during the briefing, was to help transition accountants from preparers to reviewers, which he said would help alleviate the profession's ongoing talent crunch. 

"If you need to do more with less with your team, how do we have the agents do the work and move your existing preparers to that first level of review so that [they can have] the peace of mind that you know this automation is working correctly period over period, and that auditability is top of mind," he said. 

In addition to the agent builder, FloQast also announced an AI detection feature that continuously monitors general ledger (GL) transactions and flag errors ahead of the close using custom or AI-suggested rules; an AI testing feature that uses AI to intelligently read and add annotations to supporting documentation and provide a first pass on pass/fail conclusions for internal audits; and an AI variance analysis feature that automatically detects and explains material variances in real-time, then traces them back to source transactions for flexible, dimensional reporting.

"FloQast is using AI to elevate accountants and evolve the role for the better, enabling preparers to become strategic reviewers and equipping professionals with the tools and intelligence they need to thrive in this new era," said Mike Whitmire, co-founder and CEO of FloQast. "Our mission is not to displace accountants, but to empower them. It's about ensuring accountants own this transformation, lead the charge, and bridge the talent gap. This is how, together, we create the future of accounting we all want and need."

Finally, there were also a few non-AI related enhancements announced. This includes integration with Workday GL, comprehensive audit testing that goes beyond Sarbanes-Oxley Act (SOX) testing to support risk and operational audits, and a report builder that makes audit-ready reports with a pivot-like interface that provides complete drill-through visibility to all your source transaction data.