FloQast
FloQastReviews from AWS customer
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FC Review
What do you like best about the product?
how easy is to work on reconciliations MoM and how it´s linked to the workbook so you can access easily
What do you dislike about the product?
I would like to be able to create multiple steps for one task
What problems is the product solving and how is that benefiting you?
track tasks and recons, with this managers have an idea of the status
Recommendations to others considering the product:
Great way to tack monthly tasks and save time asking of how things are going
Amazing project management tool
What do you like best about the product?
I like the option to create separate workflows for the different tasks performed in a team - Ex: Month Close Workflow, Financial Reporting Workflow. I also love that it integrates with Netsuite to provide Auto reconciliation to all the Balance Sheet accounts and we get notified when things are updated after they have been reviewed.
What do you dislike about the product?
That I can not rename folders or add them. That I cant overwrite certain things (like if the preparer is out, and they didn't check off their task, it stays open until that person is back even if the task is completed)
What problems is the product solving and how is that benefiting you?
Auditors requesting proof of a preparer/reviewer flow. Confirming that all accounts tie to reconciliations performed during the month. Knowing that the system will flag accounts that have been deemed "reconciled" and closed for the month if they are updated.
It is a great tool to organize and track the month end close practice.
What do you like best about the product?
You can quickly review outstanding items on your checklist and action as needed. It is easily customizable to your company and I love the notifications when things are due or ready for review. The reconciliation back to the source file is also insightful and provides a one-stop-shop to make sure accounts are in balance. It is also great that you can set up alerts to let you know if something gets out of balance. It is a wonderful tracking tool.
What do you dislike about the product?
It would help if you could mass update due dates or when refreshing the reconciliations it refreshes all months. You currently have to refresh one month at a time.
What problems is the product solving and how is that benefiting you?
Fixing reconciliations quicker because we are made aware as soon as it is out of balance. We now have one place to review reconciliations and make sure things are clean and balanced. It also helps us stay on task with the checklist and ensure things are being completed on time.
Highly recommend - especially for those needing more transparency
What do you like best about the product?
I love the ability to ensure all of our accounts are reconciled and know if a late entry requires us to revisit a previously completed rec. When I joined the company, we lacked this visibility and lacked an efficient way to know when late entries were impacting balances.
What do you dislike about the product?
There are a few product suggestions we've made - for example, the structure when you operate in multiple subsidiaries is not ideal (organized by sub vs process).
What problems is the product solving and how is that benefiting you?
For someone who is a bit of a control freak, I get the visibility I need without feeling like I have to micro-manage, or give the impression I am. We can stay organized via the checklist process, and at anytime, get great analytics on progress.
Takes The Guesswork Out Of Deadlines
What do you like best about the product?
The ease of use is one of the best FloQast features
What do you dislike about the product?
I would like to view the checklists of other team members that are peers.
What problems is the product solving and how is that benefiting you?
Allows remote employees to pace themselves and stay on track with prioritizing projects with various priority levels and competing deadlines.
Recommendations to others considering the product:
Great tool
Fully user Floqast review
What do you like best about the product?
I like the ability to keep track of close tasks and check them off one by one. The ability to focus on what is due by day and to leave comments for any issues is great.
What do you dislike about the product?
sometimes the website can be glitchy with items not wanting to update. Being able to change the flux settings so immaterial items will be left out of the flux analysis.
What problems is the product solving and how is that benefiting you?
being able to keep track of the close and review process. ability to save time from the organization of floqast and being able to keep track of tasks so they can be completed on time and thoroughly.
Recommendations to others considering the product:
Great way to keep track of tasks and recons.
Floqast Review
What do you like best about the product?
The functionality between linked accounting systems, for example having the NetSuite balances pull into FloQast for the reconciliations saves us a lot of time around month-end and enhances our controls as well! FloQast also always has phenomenal support when questions or issues need to be resolved. They are extremely timely in their responses and when is there no solution sometimes, they are always willing to put our request into the product team as feedback to hopefully see our ask in the future.
What do you dislike about the product?
Not much to say here as FloQast is a great system, however, it would be nice if you could place anchors on PDF files so that those files could be used as an alternative to excel files. This could save some time during our ME process.
What problems is the product solving and how is that benefiting you?
We have buttoned up our controls related to many financial statement areas, such as adding additional controls and allowing for further documentation and evidence of review on those areas. Another important one was related to ensuring we have all of our GL accounts reconciled. The completeness check has been a life saver here!
Recommendations to others considering the product:
Make sure to use all of FloQast's functionalities as they have many useful tools on the platform that will help increase the efficiency and effectiveness of your company's financial reporting process. Continue to speak with their reps as they are great and offer advice on different components that will be beneficial to your business. Their reps will take your feedback and give it to their product teams for future implementations.
Floqast - simple tool for a complex close
What do you like best about the product?
FloQast is easy to implement. Their team makes implementation a breeze. The connection with NetSuite and Google Drive is flawless. The tool is easy to setup and gets your close process streamlined very quickly.
What do you dislike about the product?
Some of the settings are hard to find, for example, sometimes you need to have all subsidiaries selected to find some setting options. But once you know where these settings are it isn't a huge deal. The other slight pain point is when you have duplicate hashtags in different files, it is sometimes are to find them to correct.
What problems is the product solving and how is that benefiting you?
FloQast has helped us shorten the close process. It also helps us stay more organized and requires us to tie out every single balance sheet account. Always having functional work papers in the same place every month is extremely helpful.
Recommendations to others considering the product:
I've been using FloQast for a few years and it is the best month-end close tool I've used.
Fast implementation and easy to use tool
What do you like best about the product?
I love how easy it is to use FloQast. The interface is pretty intuitive and easy to understand. I like how easy it is to add new items and edit old existing items.
What do you dislike about the product?
The disappearing icon for notification can be hard to find if you don't know it's there. I can understanding why it disappears so it doesn't look cluttered but it does take people getting use to it.
What problems is the product solving and how is that benefiting you?
We have more visibility of the status of close items and easier to communicate/track status on open items (via slack or notes in FQ). Useful addons of notifications when items are done help minimize overcommunication.
Fantastic FQ
What do you like best about the product?
I like how FloQast interfaces with One drive so your reconciliations are in real-time. As an example, I think its easier for the preparer to use excel when reconciling accounts, with FQ you can take the reconciliation out of the browser and into an excel document and since you're connected to one drive everything saves instantly.
What do you dislike about the product?
I think if you have reconciling items turns on then you do not need the difference function turned on as well. Reconciling items should be the difference or variance between the rec and the GL balance.
What problems is the product solving and how is that benefiting you?
FloQast is helping us solve our outstanding reconciling items. For approvers and reviewers, it allows them to look at the big picture of where everything is during the close process.
Recommendations to others considering the product:
Highly recommend FloQast for monthly reconciliation and task scheduling purposes.
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