FloQast
FloQastReviews from AWS customer
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FQ Review
What do you like best about the product?
My favorite function is the flux analysis portion. It makes it easy to add comments on necessary parts of the month-end close. Compared to my experience with your competitors, I feel that there is more functionality in this portion
What do you dislike about the product?
I wish the layout could be more customizable and there are additional filters for tasks such as "tasks due within X many days" instead of just "due today" and "late"
What problems is the product solving and how is that benefiting you?
Floqast has helped our company organize our month-end close processes, tasks, and account reconciliations. The daily email reminders and slack integration have ben extremely helpful
Saves so much time!
What do you like best about the product?
I love how easy it is to use and how simple the application is. The flux analysis is a valuable tool to document and review financial statements. Last-minute entries are no longer an issue with Floqast- our reconciliations always tie out to the trial balance.
What do you dislike about the product?
It would be nice to roll forward all folders at once. In addition, the flux analysis requires you to refresh each entity individually, which can be time-consuming when you have multiple locations. Also, if someone leaves and/or goes on maternity leave, and you need to switch their tasks/reconciliations to someone else you have to do it one by one. It would be nice to mass update.
What problems is the product solving and how is that benefiting you?
Floqast let's us know our reconciliations always tie out to the trial balance. We no longer worry about someone making a last-minute entry because FloQast tells us what accounts are out of balance.
Financial reporting
What do you like best about the product?
It is very good for the timeline tracks and late-day reminder.
What do you dislike about the product?
Webinars were as fun as prior years before COVID. I miss the fun quality goodies from FQ.
What problems is the product solving and how is that benefiting you?
I realized FloQast is like personal time management who reminds me where I am and how many projects are in the queue. Especially close to the end of month I got sidetracked by other projects, FQ's reminder keeps me on track.
Recommendations to others considering the product:
Log in and check your process more frequently to manage your timeline better.
Floqast has been a great tool and has helped stream line our close process and make things easier
What do you like best about the product?
I like checking off items in the Checklist,it makes me feel accomplished. Additionally, it automatically links to NetSuite so it's easy to refresh and get updated balances. Also the support team has been really great and helpful whenever I need them.
What do you dislike about the product?
Not being able to edit or delete a comment once it's posted on a checklist item. It can only be deleted by admin and that seems like something simple that a user should be able to do.
What problems is the product solving and how is that benefiting you?
Project and time management. Additionally being able to work simultaneously and not have to worry about only having one person in a file at a time (in terms of the checklist instead of it being in excel). Also being able to easy go back to another month and reference something
Review
What do you like best about the product?
User interface is clear and easy to follow. Floqast has been very helpful with keeping track of month end close tasks and BS reconciliations
What do you dislike about the product?
Not being able to directly edit tasks/ descriptions as a user. Tasks can be updated but only by the person with admin access. It would be helpful if there was a way to edit directly and submit for approval.
What problems is the product solving and how is that benefiting you?
keeping track of month end close tasks
FQ is user friendly, Excel friendly and has a massive storage unit. Suited for all Accounting use.
What do you like best about the product?
The matching aspect is the best, it saves time.
What do you dislike about the product?
The hiccups in the portal, especially during EOM
What problems is the product solving and how is that benefiting you?
Bank recs, central communication tool, info saver etc.
Would be killer app except for.....
What do you like best about the product?
The close analytics and the usage of the tool as a control mechanism which makes the auditors happy.
What do you dislike about the product?
The Flux functionality needs improvement. Customizing the layout requires helpdesk intervention and is contrained in certain aspects. Rather than just showing two columns, it should have have at least 6 so that the accounting team can view the trends for all accounts over the trailing 6 months. Explaining Flux between consecutive months or quarters (i.e. two columns) is fine but requires the professional to toggle back and forth between NS to include trend (and run rates) in the analytics discussion.
What problems is the product solving and how is that benefiting you?
Shortening the close by identifying the bottlenecks.
Recommendations to others considering the product:
Request that Flux be more robust!
Overall good
What do you like best about the product?
1. Automatic roll forward of supporting documents
2. Completeness check
3. Integration with NS
4. Folder/ organisation features
5. Reconciliations with supporting documents all in one place
6. Can filter by due today, late, unreconciled or ready for review. Very thoughtful
2. Completeness check
3. Integration with NS
4. Folder/ organisation features
5. Reconciliations with supporting documents all in one place
6. Can filter by due today, late, unreconciled or ready for review. Very thoughtful
What do you dislike about the product?
1. Sometimes slow, especially during month-end when multiple users are working simultaneously
2. Constant reminders in the form of emails - especially when there are a lot of accounts and if accounts go out of balance
3. The integration with slack could be slightly more fine-tuned
2. Constant reminders in the form of emails - especially when there are a lot of accounts and if accounts go out of balance
3. The integration with slack could be slightly more fine-tuned
What problems is the product solving and how is that benefiting you?
1. Helps drive close tasks in a more focused and guided manner
2. Able to keep all related communication, docs and signs off in one place
3. Can use analytics to help identify issues
2. Able to keep all related communication, docs and signs off in one place
3. Can use analytics to help identify issues
Great Analytical Tool!
What do you like best about the product?
It is an overall very useful and practical tool. I like using it for our monthly closes and especially the analytics that we perform monthly, quarterly, and anually.
What do you dislike about the product?
Nothing in particular. Would love more frequent updates and addition to the platform.
What problems is the product solving and how is that benefiting you?
We are easily able to perfom flux analysis with Floqast. We can easily monitor and track our monthly closes to be able to find bottlenecks and whatnot.
FloQast is a great tool to track close tasks and progress, even has a built in Flux analysis module!
What do you like best about the product?
I like how FloQast can pull GL data and reconciliation file data to automatically show whether or not accounts are in balance. Once an account is in balance FloQast offers a simple "completed" button to mark the account as reconciled - presto one item off the list!
What do you dislike about the product?
Often when we have made journal entries and want to check if balances now reconcile between the GL and our rec file in FloQast, we have to wait 10+ seconds for the reconciliation module to refresh, the same happens for the Flux analysis module. Sounds silly, but anytime something takes more than 10+ seconds in today's day and age it can feel a bit annoying to wait for. Fairly minor complaint though, overall I really like FloQast!
What problems is the product solving and how is that benefiting you?
More easily keeping track of monthly close tasks and far easier way to track team progress.
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