Reviews from AWS Marketplace
0 AWS reviews
-
5 star0
-
4 star0
-
3 star0
-
2 star0
-
1 star0
External reviews
External reviews are not included in the AWS star rating for the product.
Enables an effective and efficient close process. Easy to use and configure.
What do you like best about the product?
Powerful and efficient close tool. Ease of setup, configuration and use. Allows for greater workflow, delegation, and level-loading of work. My primary focus is actually external (SEC) reporting and I've used FQ to extensively to assign tasks and gather data to be used not only in the monthly close process, but also in the quarterly SEC reporting process. I also like the fact that we can use single sign-on to log in to the software, rather than having to have a separate username and password to log in to the software each time you use the software. I also like the color schemes and the design of the software. It is really just a nice, sleek software to use on a monthly basis. Plus, I like that it is a cloud based software which means lower capital cost and greater access to the platform without having to be in the office.
What do you dislike about the product?
Although there are several notification/communication features, I would appreciate greater flexibility in notifications regarding when tasks are assigned, changed, or completed. But other than that, I do not have many other dislikes about the product.
What problems is the product solving and how is that benefiting you?
Use FQ to gather data and assign tasks for our quarterly external (SEC) financial reporting process. We also use the software as a repository for documentation that supports our journal entries, monthly close steps, trial balances, and quarterly external (SEC) reporting processes. We also delegate and approval all of our close tasks. Realized big efficiency gains.
Recommendations to others considering the product:
FloQast is a great software, that has the potential to improve both the efficiency and effectiveness of your monthly close process.
- Leave a Comment |
- Mark review as helpful
FloQast brings order to the close process
What do you like best about the product?
We love how FloQast has helped with a more detailed and thorough closing task list. We struggled with communication and accountability on tasks with teams working from multiple locations to close one set of books. FloQast is a very intuitive software to use. We were up and running with no issues on our first close. I can now spend my time coaching and developing the team and processes, instead of trying to keep track of everyone's progress.
What do you dislike about the product?
I really have nothing to add here. We use, and like, all the features of FloQast.
What problems is the product solving and how is that benefiting you?
The biggest problem I wanted to solve was communication. We used to track closing tasks and GL reconciliations on a spreadsheet. Visibility and accountability were lacking.
Secondly, I was concerned that GL reconciliations were not being opened again if a balance changed. Since FloQast is integrated, if a balance changes the reconciliation is automatically re-opened. The responsible staff receive an email alerting them to the change in balance.
Secondly, I was concerned that GL reconciliations were not being opened again if a balance changed. Since FloQast is integrated, if a balance changes the reconciliation is automatically re-opened. The responsible staff receive an email alerting them to the change in balance.
Recommendations to others considering the product:
Buy it. The confidence I have in our close process is unbelievably enhanced due to our addition of FloQast.
Made Close so easy to manage!
What do you like best about the product?
It's a toss up between my favorite features. I love the quick view into where we stand with close and the ability to "check things off" my close list. The fact that it is internet based also means we can work from anywhere and check on the status at any time. I don't have to wait until my staff is back from lunch to see if they have finished their assigned tasks.
But I also love the effectiveness of the reminders of what is outstanding or even late! Accountants don't like being told they are behind on something or have missed a step, we are somewhat of a perfectionist group, so getting those reminders helps motivate users to get things done.
The addition of the graphs also gives a quick glance into how the close is going and where there are problems. The trends allow you to see how you've improved over time. They also just added a feature of projected close, which really helps when communicating with upper management about where things stand.
But I also love the effectiveness of the reminders of what is outstanding or even late! Accountants don't like being told they are behind on something or have missed a step, we are somewhat of a perfectionist group, so getting those reminders helps motivate users to get things done.
The addition of the graphs also gives a quick glance into how the close is going and where there are problems. The trends allow you to see how you've improved over time. They also just added a feature of projected close, which really helps when communicating with upper management about where things stand.
What do you dislike about the product?
The only thing I could say here is maybe the UI could be streamlined. FloQast is very adaptive and constantly adding new features, but the UI is kind of clunky. They do a fantastic job of listening to their end users and incorporating that into the produce. Now that so many features have been added, the UI is getting a little busy and could use some touch ups.
What problems is the product solving and how is that benefiting you?
We have taken our close from 20 plus days down to under 10. And the reconciliation process has been amazing! We were able to give our auditors access which freed up a LOT of our time. Since we already had all of the reconciliations done and the appropriate sign offs, we did not have to provide as much information during the field work. Plus, they could go back and access FloQast after field work was completed, which mitigated the back and forth.
Recommendations to others considering the product:
If you need a product that will transform your close process, FloQast is it! Are you tired of keeping up with spreadsheets or documents that multiple people are trying to update at once? FloQast allows you to have real time information and as many users can be in there as you want. The filters and folders allow you to focus in if need be, or you can have a more macro level view by looking at the whole picture. The recent enhancements to graphs make it easy to know immediately where you are for the month and the trends let you look back and show improvement and find those problem areas that might need rearranging to make close run more smoothly.
Think outside the box when you are using FloQast. It can be used for managing other projects as well, not just close. We also use it to manage our payroll team and all of the checklist items that they do. This means I have one place to see how payroll and close is going and that is a HUGE relief!
Think outside the box when you are using FloQast. It can be used for managing other projects as well, not just close. We also use it to manage our payroll team and all of the checklist items that they do. This means I have one place to see how payroll and close is going and that is a HUGE relief!
Intuitive interface and easy to customize
What do you like best about the product?
Everything is so intuitive and straightforward with FloQast. Even when new features come out I can quickly start using them.
What do you dislike about the product?
I wish there was a way to customize my view of the page. Each account row takes up a lot of screen real estate and my personal preference would be to make the view more compact.
What problems is the product solving and how is that benefiting you?
One of the greatest benefits is that if the GL balance changes (i.e. someone books a late entry) I am notified systematically because the recon goes out of balance. With manual tracking of recons in my prior life, I often had unpleasant surprises when reviewing the recon and discovering the balance had changed.
It's the bee's knee's
What do you like best about the product?
I enjoy how easy it is to navigate the site and access the data I'm looking for.
What do you dislike about the product?
A few too many promotional e-mails- otherwise I love it!
What problems is the product solving and how is that benefiting you?
I've had problems seeing my accounts all at a glance and Floqast gives me that option!
Facilitates close process
What do you like best about the product?
Integration with general ledger system for easy reconciliation and review. Ability to create checklists and document review within the tool.
What do you dislike about the product?
I have no complaints about the Floqast product
What problems is the product solving and how is that benefiting you?
Single tool for close process documentation and management intergrated with general ledger for easy tracking.
easy and accurate
What do you like best about the product?
easy to rollforward workbooks month to month
What do you dislike about the product?
there can be incorrect ending balance pulls from time to time
What problems is the product solving and how is that benefiting you?
account reconcilations. I no longer have to house data within multiple excel worksheets to be printed off and manually signed.
Month End - FloQast
What do you like best about the product?
FloQast makes the close process easier. We can store all of our information within FloQast, easy to roll forward, auto bank rec feature significantly decreases the amount of manual time spent matching up line items. I like the analytics portion of FloQast, like you see projected month end close end dates and it lets you see who is behind and on what area. For example, we can see that the AR information does not change that much but our Inventory process takes a longer time to close out. There is a team communication tool that allows you to talk within FloQast (but it sends you an automatic email so you don't miss anything) . FQ is constantly updating FQ to make it better for the user.
What do you dislike about the product?
I dislike that you cannot make notes to a checklist item besides the main description of the task.
What problems is the product solving and how is that benefiting you?
One of the problems that we solved with FloQast is the bank rec time on large accounts, it went down significantly. Another area where FQ really helped was staying organized and seeing who is where in their close process. We can now see exactly where out close process is being bottle necked.
Floqast Is Invaluable
What do you like best about the product?
A simple solution to an age old accounting issue. Analysis of the balance sheet is required "prior" to an effective close. For years, I have heard accountants profess that there is just not enough time to do so during the limited time available for the closing process. I interpret this as "I just don't have time to get things right". Floqast eliminates that excuse.
What do you dislike about the product?
The only issue I have encountered is an occasional problem with file maintenance. I understand that this is a necessary evil for control and security
What problems is the product solving and how is that benefiting you?
Simply ensures that we validate our balance sheets each month.
Faster and Better Close with Floqast
What do you like best about the product?
Floqast lets us see exactly where we are within the close process. I know what tasks are coming due for myself and my team, which allows me to better manage delays or other challenges that come up. At any point in time, I can see where my team may be falling behind schedule without having to spend time on status meetings that further slow down the close process. The reconciliation function allows me to continue to use existing processes and spreadsheets that I have already customized to meet my needs, which made implementation faster and easier than expected. The review note functionality is simple to use, and emails from the system notify me when something needs my attention, so I can spend my time and energy focusing on tasks at hand. It is simple to add files or links to checklists or notes.
What do you dislike about the product?
You can find other platforms that offer more automation and other features, but if you're looking for an easy to implement, straightforward product to help you better monitor the close process and to document your reviews and approvals of close tasks, Floqast accomplishes it in a simple-to-use package.
What problems is the product solving and how is that benefiting you?
Our goal was not really to close faster but to do a better job of making sure we did everything we were supposed to do to close the books each month. Floqast helps us do that. We are monitoring all of our month-end close processes in real time and creating and keeping evidence of our internal controls. Checklists tasks are created, responsibilities are assigned and due dates are set, so our entire team knows what is expected as a part of month-end close. In turn, each team member knows what they need to focus on each day and can manage their time more effectively during the busy periods of close.
Floqast is especially useful when navigating absence or turnover within your accounting team. As a manager, I can trust that the tasks that need to be reassigned or covered are all included in my checklist because I have a single source-of-truth for what needs to be completed. Reassigning can be done in bulk or task-by-task and supporting files can be attached so they are easily accessible to new workers.
Floqast is especially useful when navigating absence or turnover within your accounting team. As a manager, I can trust that the tasks that need to be reassigned or covered are all included in my checklist because I have a single source-of-truth for what needs to be completed. Reassigning can be done in bulk or task-by-task and supporting files can be attached so they are easily accessible to new workers.
Recommendations to others considering the product:
Get buy-in from your team members who will be using the product. If they can see how Floqast will help them save time and energy, the move to using Floqast will be smoother.
showing 991 - 1,000