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Easiest System to Use and Great Presentations
What do you like best about the product?
I enjoy the UI and UX of the website. I am admin, though I do not specialize in IT. My role at my company is senior accountant. So easy to navigate and make changes. We recently added flux analysis program to our recon susbscription, and the presentations from the reports are very nice and easy to follow. No more manual processes! We are implementing to add one more feature to our subsriction called Remind. We are looking forward to the email campaigning and time this will save us. Highly recommended!
What do you dislike about the product?
Integrating Oracle Fusion is not easy. We are still pushing TB to recons manually. This has more to do with Oracle than FQ. Chart of Accounts do not have an integration either, and when we have 20+ ledgers, it's time consuming to update each one manually.
Sometimes the close/flux module get mixed up and users don't easily understand how to get back to the recons. I am able to help with this and in reality, just takes practice and training. Otherwise, I don't have much else to dislike about FQ.
Sometimes the close/flux module get mixed up and users don't easily understand how to get back to the recons. I am able to help with this and in reality, just takes practice and training. Otherwise, I don't have much else to dislike about FQ.
What problems is the product solving and how is that benefiting you?
We could not use ARCS with Oracle Fusion. That system was poorly designed and time consuming. This saves a lot of time and is easy to use. The reporting is also much easier to follow.
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FQ
What do you like best about the product?
Ease of use, including ability to onboard new members without a lot of instruction from managers.
What do you dislike about the product?
Some of the structure limitations. For example, if we have one reconciliation that is prepared for multiple accounts, it would be ideal to be able to select all the accounts that recon is for, rather than uploading it multiple times into the various folders. For a couple examples, we have one bank account reconciliation export from our ERP that shows subledger compared to GL balance and covers all bank accounts (foreign and US). We have to load that same recon doc into all folders in all entities.
What problems is the product solving and how is that benefiting you?
Tracking workflows across multiple teams and centralizing close tasks. Previously we were using a Google sheet, which was limited and hard to protect from updates and changes.
Good management tool
What do you like best about the product?
-it updates automatically with data from our ERP;
-we can leave comments;
-we have checklists, documents attached and reconciliations;
-it send notifications
-we can leave comments;
-we have checklists, documents attached and reconciliations;
-it send notifications
What do you dislike about the product?
- There are links to documentos, but they always open on the browser, they're not able to open on desktop;
- In the folders tab, the list of months and folders automatically closes when we switch to another months/mother folder. It would be nice to leave them open as I open them or close them as I want;
- The spaces between items are too big and the fact that I can't hide the Reviewers makes it bigger. I would like to see as many items as I have assigned as I can and the way it is there's too many blank spaces, meaning I cannot look at a larger scale of pending items.
- In the folders tab, the list of months and folders automatically closes when we switch to another months/mother folder. It would be nice to leave them open as I open them or close them as I want;
- The spaces between items are too big and the fact that I can't hide the Reviewers makes it bigger. I would like to see as many items as I have assigned as I can and the way it is there's too many blank spaces, meaning I cannot look at a larger scale of pending items.
What problems is the product solving and how is that benefiting you?
Floqast is tracking the work and recording reconciliations for audit purposes and notifying changes to prevent leaving outdated information
Accountant
What do you like best about the product?
Transparency between Management and Employees.
What do you dislike about the product?
The homepage is no helpful to me. I wish it would show me my tasks/recons/notes/out of balance items that would allow me to click through to get to the other tabs.
What problems is the product solving and how is that benefiting you?
Transparency between management and staff, time effectiveness.
Great software for tracking close
What do you like best about the product?
The best features about FloQast is having a checklist for monthly close items. Being able to track all tasks and set due dates is really helpful when working on month-end close. The Variance Analysis is also a great feature for reviewing month of month variances. Very user friendly and easy to get support from account reps.
What do you dislike about the product?
One down side we've encountered is having to group some of our GL accounts to the respective location for month or month analysis.
What problems is the product solving and how is that benefiting you?
FloQast helps us reconcile specific accounts and track close tasks instead of having to use speadsheets.
5 months in - comments good and bad
What do you like best about the product?
The best part about FloQast is their customer service - it is the best. They listen, they want to help, they want to partner and seek a solution. The implementation went well with the initial team. Now on "steady state" they continue to partner and work through next steps for optimizing the tool.
The tool as a whole is easy to administer and user adoption has been huge largely because it is intuitive and easy to use.
The tool as a whole is easy to administer and user adoption has been huge largely because it is intuitive and easy to use.
What do you dislike about the product?
I fear we are already out of capacity with Floqast. Because of size and grouping limitations (which Blackline did warn me about), we do not have the automation and efficiencies I had hoped to gain. As a note - we are not that big, comparability, in our industry, we are the smallest and not even close to mid-size. So the sizing limitations and workarounds have been bothersome. I did ask these questions in the scoping and was assured we would not have an issue.
The implementation used old checklists. While we were clear a new one was coming, the implementation team was too motivated to start. This resulted in the wrong checklists loaded, we tried to fix multiple times and this resulted in a lot more manual efforts on our side to fix. It is not working as intended but could have been avoided if the implementer listened and said they had a draft during the scoping and we would provide the final.
These limitations are manifesting as we are trying to implement other tools, such as Flux resulting in another workstream and lack of automation or completeness to make it as efficient as it could be. The flux/variance has a way to go before it will save us time. Of highest priority is rolling comments and seeing multiple flux together ( QoQ, Q to Budget, Q to Sequential Quarter) as an example.
The implementation used old checklists. While we were clear a new one was coming, the implementation team was too motivated to start. This resulted in the wrong checklists loaded, we tried to fix multiple times and this resulted in a lot more manual efforts on our side to fix. It is not working as intended but could have been avoided if the implementer listened and said they had a draft during the scoping and we would provide the final.
These limitations are manifesting as we are trying to implement other tools, such as Flux resulting in another workstream and lack of automation or completeness to make it as efficient as it could be. The flux/variance has a way to go before it will save us time. Of highest priority is rolling comments and seeing multiple flux together ( QoQ, Q to Budget, Q to Sequential Quarter) as an example.
What problems is the product solving and how is that benefiting you?
Preparing reconciliations one time vs. multiple times is the biggest benefit of FloQast.
We are now notified of those going out of balance rather than checking reconciliations multiple times during close.
We are now notified of those going out of balance rather than checking reconciliations multiple times during close.
Highly recommended, very helpful with month-end tasks
What do you like best about the product?
Saves my brain of memorizing all my month-end tasks.
What do you dislike about the product?
Nothing i can think of, website works very well.
What problems is the product solving and how is that benefiting you?
Saves all my daily tasks in the website, allow me to customise the dates of compeletion. Provide email alerts to remind.
Intuitive & straightforward implementation and usage
What do you like best about the product?
FloQast is straightforward to implement and easy for users to grasp. Their integration with existing Excel-based reconciliations lowers the time to implement and roll out, and allowed us to achieve value quickly.
What do you dislike about the product?
The integration with our on-prem ERP system has been more challenging that it seems to have needed to be, requiring a new (relatively expensive) layer of middleware to allow FloQast to receive regular trial balance loads.
What problems is the product solving and how is that benefiting you?
We're better organized and have visibility to where our decentralized organization is with the close.
Amazed by smooth implemenation
What do you like best about the product?
Our rep was amazing and the team got us transition and set up with ease. The product fit our needs perfectly.
What do you dislike about the product?
Wish it allows cross company files. We have a variety of interests in several companies. Would be nice to have some consolidation features.
What problems is the product solving and how is that benefiting you?
Allowing my team to gain insight into status of co-workers work and organization of our working papers.
FloQast is the solution we were looking for
What do you like best about the product?
The ease of use. Reconciliations can stay in the format that we were used to. We did not have to conform to a standard format that they dictated.
What do you dislike about the product?
The inability to link across companies. We have 57 companies and numerous intercompany transactions. I simply want to know that they net to zero and then we are in balance. We did find a solution, but it required a third party to pull the balances from our ERPs and push to a consolidated company so we can review and see that they net to zero
What problems is the product solving and how is that benefiting you?
All reconciliations are in a single place. We have a preparer and a reviewer. We have our close checklists also in FloQast with signoffs. As the controller I can look at any reconciliation, check the status of where we are on the close and we can give the auditors access to review our recons instead of gathering and uploading to them.
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