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Floqast Review April 2020
What do you like best about the product?
Easy to track your own task list as well as others. Clarity and visibility
What do you dislike about the product?
Too many email reminders- it is easy enough to log in and see status of items so no need for reminders
What problems is the product solving and how is that benefiting you?
Track your progress towards month end deadlines. lets you focus on tasks at the right time. allows comments for reviews
Recommendations to others considering the product:
Intergrates with other software- Great for teams where oversight/ tracking and analytics is required
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FloQast
What do you like best about the product?
Checklist feature acts as a to-do list. It also reminds you if anything is past due by sending you an email. The system also sens you an email to prepare you for what is coming up on your checklist. I recently started using the reconciliations feature and I really like it so far. It pulls real life data from our software Loan Vision, which makes it easy to know the amount I am reconciling. I like that there are filters. You can filter your checklist by things that are "due today" or that are "ready for your review", etc.
What do you dislike about the product?
I don't set tasks on Floqast so not sure if this is possible, but I know sometimes the due dates are off, so it would be nice if we could somehow program it to fall under the correct dates each month based on our calendar
What problems is the product solving and how is that benefiting you?
Keeping my tasks organized and staying on track. You are able to know what your day looks like and can plan ahead. You are able to see what you have completed so far and what you need to work on for the rest of the month which helps with planning ahead. Once the preparer is done with their work, the approver is notified to approve the task.
Very useful tool for organizing your month-end closing schedules.
What do you like best about the product?
The best part about FloQast is that it clearly lays out the tasks that need to be completed in order to close, who is responsible for completing those tasks, and in what sort of time frame after month-end.
What do you dislike about the product?
There really isn't anything to dislike. FloQast is a very simple, yet very effective tool. There is no unnecessary baggage to dislike.
What problems is the product solving and how is that benefiting you?
We appreciate FloQast the most when it's audit time. We're able to create read-only user access for our auditors so that they're able to access the needed schedules. It also helps to have everything organized in the FloQast folder structure.
Using FloQast for the month-end close is life changing!
What do you like best about the product?
I love everything about FloQast but I will have to say the ease of use is my favorite. This enabled the entire team to adopt the software quickly and ensure high user engagement. As a Controller, I also like that I have one dashboard for all our entities and I can quickly see what entities are on time and which are running late.
What do you dislike about the product?
While I love everything about FloQast, I can't wait for it to have drag and drop for file uploads.
What problems is the product solving and how is that benefiting you?
Our previous system for month-end closing had no controls. Any team member could delete a checklist item or mark any other team member's task as completed. I had to copy the project monthly for us to use the checklist for the new month and there was no way to do reconciliations. The software was not built for month-end or accounting teams. We now have the benefits of strict sign-offs and automatic creation of our folders, checklists and account reconciliations.
Controller that implemented FQ in organization
What do you like best about the product?
How the tool organizes the close process and ensures reconciliations are complete for all accounts
What do you dislike about the product?
Adding new accounts would be easier if there was a duplication feature. Also, if there was a way for the tool to extract bank recs from the ERP into the tool that would be so cool
What problems is the product solving and how is that benefiting you?
Faster more organized close
Great Product For Month End
What do you like best about the product?
Makes it simple and all of my accounts are properly reconciled
What do you dislike about the product?
wish it was more automated. its a great product just some more scripting
What problems is the product solving and how is that benefiting you?
Just my month end
Recommendations to others considering the product:
Make the switch. Your finance department will be better and more organized because of it
Finance Manager - Start Up
What do you like best about the product?
checklist and recons as required items, that system shows what remains to be completed, all in one place, so there is less for me to micro manage in too many lists
What do you dislike about the product?
figuring out the use of shared drive to make recons easier to upload from month to month
What problems is the product solving and how is that benefiting you?
Problems solved: not missing items at monthend Benefits: all in one place, easy to see what item remain open, fairly easy to modify checklists as business monthend needs change
We own and control our month close!
What do you like best about the product?
Evidence of review of reconciliations and direct link to reconciliation supporting documents. Being able to track status of checklist tasks, reconciliation performed, and review notes. Flux Analysis is also a great feature!
What do you dislike about the product?
When all checklist tasks and reconciliations are completed, it takes a while for the dashboard to refresh in order to close.
What problems is the product solving and how is that benefiting you?
Being able to review 100s of reconciliations in a centralized platform with links to a central shared folder solved our time management problem significantly.
Recommendations to others considering the product:
If you want to make things easier for Auditor review, this software will make your life much easier!
Senior Director and Assistant Controller
What do you like best about the product?
Its a very easy software to use and meets all our needs for reconciling close to 700 accounts across 30 entities.
What do you dislike about the product?
To be honest, everyone in my team loves it and we don't have any reservations about Floqast.
What problems is the product solving and how is that benefiting you?
Reconcilation for all balance sheet accounts for all our international businesses. Super easy to use and the customer service is top notch. I use Customer Service regularly and they get back to me right away with answers. One of the best if not best customer service I have ever experienced at a firm. Love the system. Now we need to look into Floqast Flux Analysis module to see if it meets our needs.
FloQast has been a great tool to manage your close with multiple team members.
What do you like best about the product?
The ability to see exactly where the close is each month. Managing multiple clients it is very easy to understand where each one is with there respective deadlines. This helps us across our portfolio of clients.
What do you dislike about the product?
Only downside with FloQast is it does not directly integrate with most systems yet for loading TB's. This is coming down the pipeline so this will not be an issue soon enough.
What problems is the product solving and how is that benefiting you?
We are able to keep an efficient and timely close on all of our clients in our portfolio. This helps managers understand where each close is without having to dig into each clients system each time.
Recommendations to others considering the product:
This is an awesome tool to help you be organize and efficient in monthly closes especially with large teams. You can keep notes in this system to see historical items so if you do have turnover it is easier for someone to pick up and start going. It has helped us get our lower level staff more organized while learning the consulting environment for multiple clients.
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