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Simply put, FloQast is amazing and gives me confidence in our close process!
What do you like best about the product?
Fast and easy implementation, amazing at managing our close process, and give us confidence in our reconciliations. It's so amazing, I've implemented at 3 different companies.
What do you dislike about the product?
No dislikes. FloQast gives me everything I need and gives me confidence in managing close.
What problems is the product solving and how is that benefiting you?
Faster close, and it gives me great dashboards insights that tells my team exactly what we need to do and when to do it.
Recommendations to others considering the product:
Do it, you won't regret it! It was super fast and easy to implement, it's amazing at managing our close process, and it give us confidence in our reconciliations. It's so amazing, I've implemented at 3 different companies and wouldn't hesitate to implement it again at future companies. Additionally, I love referring FloQast Every chance I get, whether it's at a conference, or a CPE event, or just networking with former colleagues or peers, I never hesitate to tell them about the advantages of using FloQast over competitor SaaS based products such as Blackline. I had a horrible experience with Blackline at the first company I was looking for close management software. The Blackline experience was so bad, I had to find another solution, which is what led me to FloQast. I've now referred as many peers i can refer, and I will continue doing so.
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Flo(Qast) your way through close ;)
What do you like best about the product?
For all of the controllers and accounting managers manually tracking the close... just stop. There's a better way. Modern accountants are forced to add value beyond closing the books.
What I like most about FloQast is it allows the team to hold themselves accountable - freeing up the team to work on more value add work. It also encourages neat and tidy file storage. Gone are the days where I ask my direct reports where the deferred rent schedules are.
What I like most about FloQast is it allows the team to hold themselves accountable - freeing up the team to work on more value add work. It also encourages neat and tidy file storage. Gone are the days where I ask my direct reports where the deferred rent schedules are.
What do you dislike about the product?
I'm a fan of everything FloQast. The team is amazing to work with and they are constantly making the product more robust.
What problems is the product solving and how is that benefiting you?
We now have proper swim lanes/ownership distribution. It provides clarity on who is doing what and when. That frees up the team to have fewer check-ins and spend more time getting things done. As a result, our close cycle continues to become more efficient.
Recommendations to others considering the product:
Best bang for your buck. The support team is fantastic. Adoption is very quick!
Floqast has answered and always delivered our Closing needs!
What do you like best about the product?
I truly enjoy the organization of it all
What do you dislike about the product?
There is nothing that I dislike about Floqast
What problems is the product solving and how is that benefiting you?
Our main problem that we are solving with Floqast is the amount of time we spend on month end. Since using Floqast we have been able to drop our ME close time from 12 BD to 7 BD. Also, holding everyone accountable to completing their monthly tasks. Before Floqast we also never had a review process in place, now we do which I think has cleaned up our accounting a great deal
Recommendations to others considering the product:
My recommendation is to definitely review all month end tasks and who will be doing them before uploading that into Floqast.
Does well what is is meant to cover and is easy to pickup
What do you like best about the product?
Reconciliations all use Excel but don't require specific format so really easy to train and use
What do you dislike about the product?
System security is not ideal. Have to create separate entities in system to segregate security which can create administrative issues and force to go between a lot of entities.
What problems is the product solving and how is that benefiting you?
FloQast has become our one source of truth for close documentation around all 3 of our entities. Entities are not on same core systems which has also given us the ability to see all close documentation in one place.
Recommendations to others considering the product:
Be sure you take the time to think about how your company will use the software so that as you roll out and train you are not changing processes on the users. FloQast seems to push to implement quickly and than adjust as you go. While that can be done, I believe it confuses users. Take the time to figure out how you want to implement before rolling out.
Great customer service
What do you like best about the product?
The FloQast support is the fastest and most responsive support team I've ever worked with from a vendor. Answers are quick and helpful. The experience far surpasses the support teams of other companies we work with.
What do you dislike about the product?
Some necessary functionality that could enhance the user experience is still in development. Since we've been on FQ, several new features have been pushed out that make using the product better, but there are still more on the way.
What problems is the product solving and how is that benefiting you?
In our start-up environment where the speed of change is lightning fast, FQ helps us stay on top of the close and identify new areas and accounts requiring attention. It allows the accounting team to hold ourselves accountable to close, and also allows us to hold other operational teams accountable for their workflow steps as well. It provides great visibility into progress across the organization.
Recommendations to others considering the product:
N/A
Organize your close and minimize close time with FloQast
What do you like best about the product?
FloQast eliminates the need for excess meetings and spreadsheet tracking for the monthly close process, while improving the accuracy of account reconciliations.
What do you dislike about the product?
The set-up time, depending on the number of entities/ subsidiaries can be a bit overwhelming. However the customer success team and account representatives make this process as painless as possible.
What problems is the product solving and how is that benefiting you?
We have decreased our close time since first implementation from form 30 to less than 15 days on our old system. We have recently implemented a new accounting system, and FloQast was a great tool that we used to help organize our monthly close in a new system with a new subsidiary organization. We have increased documentation quality and accuracy, the benefits of which we realize when investigating old transactions and preparing for our upcoming audit.
Recommendations to others considering the product:
I highly recommend using FloQast. From implementation to continuous management and updates based on business needs, it has been a pleasure to use.
Great tool for managing monthly close
What do you like best about the product?
No more papers and things are rollforwarded automatically. Can see status of close.
What do you dislike about the product?
Some people still like paper support for the monthly close and harder to share with people with no FloQast license.
What problems is the product solving and how is that benefiting you?
No more paper and better transparency on progress of close.
Streamline the month-end close
What do you like best about the product?
FloQast enhances transparency for outstanding to-dos and unreconciled accounts
What do you dislike about the product?
The success of this tool depends on the full adoption from your team.
What problems is the product solving and how is that benefiting you?
Transparency, visibility, collaboration, completeness in preparation and review of month-end work papers
Great software to keep track of your month-end close
What do you like best about the product?
FloQast provides alerts on tasks that are due so that nothing is missed for the monthly close. It also syncs to your accounting system so that supporting documents are reconciled with the ledger in real time. Once the reconciliation is checked off, any entries to that ledger will create an alert so that late or erroneous entries are caught. It also provides analytics to show the progress of the monthly close, what items are remaining, tasks that are past due, etc...FloQast helps to also save our monthly supporting files shared folders in a uniform format. With the click of a button, you can rollforward prior months supporting files to the current month.
What do you dislike about the product?
Only issue I found was when members were deactivated. Their previously assigned tasks just sit in there and no alert is sent to notify active members.
What problems is the product solving and how is that benefiting you?
Everyone on the team are assigned tasks and reconciliations that they are in charge of. FloQast provides a schedule so that everything needed to properly close the month are completed in the assigned dates. FloQast has definitely shaved a few days off our close and also provides assurance that what we report is correct (in all material respects of course).
Recommendations to others considering the product:
If you want to close the month with a great amount of assurance, FloQast is a must have. It also provides structure to your monthly close by assigning tasks and deadlines to team members so that things are completed when needed.
Floqast- Dermavant Review
What do you like best about the product?
The support team & our client manager are both extremely knowledgeable and there is always a quick turnaround on all the requests we have had.
The ability to update any sort of setting, add new accounts, edit approvers, etc. Instead of having to make changes manually or one at a time, there is the ability to download an excel report, update it and then do a quick upload. We have gone through many changes in our company, and this feature has really been able to save us a lot of time.
The ability to update any sort of setting, add new accounts, edit approvers, etc. Instead of having to make changes manually or one at a time, there is the ability to download an excel report, update it and then do a quick upload. We have gone through many changes in our company, and this feature has really been able to save us a lot of time.
What do you dislike about the product?
When updating reconciliation files, sometimes I have to refresh online multiple times for the changes to update in Floqast.
This has only proven to be an issue when there are last minute entries and we need the changes to reflect quickly to close the books. Aside from that, Floqast does update/refresh those files daily!
This has only proven to be an issue when there are last minute entries and we need the changes to reflect quickly to close the books. Aside from that, Floqast does update/refresh those files daily!
What problems is the product solving and how is that benefiting you?
In the process of getting started with FloQast and having to reconcile all of our GL accounts, we have come across several entries that have incorrectly been booked in the past; giving us the opportunity to correct entries. Based on monthly variances, we have also been able to notice when entries were not booked or were accidentally missed. The real benefit here has really been to have a second check in place by conducting deeper reviews of all our accounts through the submission of our reconciliations!
Recommendations to others considering the product:
To really spend time on the initial integration!
Unfortunately, I was not part of the initial integration with my own company since I came on board after the fact. But once I was on board & scheduled calls/training with our account manager, we were really able to find ways to improve how my company was using Floqast and even found more tools/resources that I didn't even know Floqast provided!
Unfortunately, I was not part of the initial integration with my own company since I came on board after the fact. But once I was on board & scheduled calls/training with our account manager, we were really able to find ways to improve how my company was using Floqast and even found more tools/resources that I didn't even know Floqast provided!
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