FloQast
FloQastReviews from AWS customer
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Staff Accountant
What do you like best about the product?
A great tool that makes month-end flow by like a breeze. Never forget to update any schedule or reconcile any account!
What do you dislike about the product?
Nothing, I love everything about it! It has solved all the problems we used to face a t month end.
What problems is the product solving and how is that benefiting you?
Month-end close. FloQast has made month-end close very smooth.
Recommendations to others considering the product:
Stay up to date with the the software's updates to maximize use from it.
Ditch the Excel spreadsheet as your close calendar
What do you like best about the product?
Having the close & monthly tasks in one central place and not having to keep track of which spreadsheet is the most current closing schedule
What do you dislike about the product?
FQ is pricey just for Calendar / Tasks and for Reconciliations. If you want to use any other added features it will cost you more
What problems is the product solving and how is that benefiting you?
Closing Calendar / Monthly Tasks
Reconciliation tracker, posting of support, and review of reconciliations
Reconciliation tracker, posting of support, and review of reconciliations
Reconciliations Made Easy with Floqast but with some Limitations.
What do you like best about the product?
FloQast has many user-friendly features that make the closing process a breeze. My favorite part of FloQast is how easy it is to create month-end checklists. Adding new GL accounts into the reconciliation process can be done in bulk or one at a time, which makes the reconciliation process straight forward.
What do you dislike about the product?
FloQast is still pretty slow when it comes to the syncing process. It will take anywhere from 1-5 minutes to sync the cloud folders with Floqast. Another limitation is the size limit of files that Floqast can read. If you have any Excel files over 20MB, Floqast will not be able to find the "#FQ" and therefore, it will not reconcile. These limitations are not deal-breakers but are issues that slow down employees that are not fully trained on how Floqast works. Hopefully, these issues will be patched out in the future.
What problems is the product solving and how is that benefiting you?
One of the benefits of Floqast is having a well-defined closing process. Employees know what they need to complete and when so when they leave the company, the admin can reassign their duties to the newer employees.
Great Organizational Tool
What do you like best about the product?
FloQast helps keep the team on track during close and makes account reconciliations much easier.
What do you dislike about the product?
In the few months we've been using the product, I haven't found anything I dislike yet.
What problems is the product solving and how is that benefiting you?
We previously tracked close progress through Excel worksheets and this is much more efficient. We had hard copies of account reconciliations and kept them in a binder but now everything is electronic. I used to manually check the list of accounts against paper recs to make sure none were missing but now FloQast shows this information at a glance.
It took less than a month from the time we signed the contract to go-live and everyone we worked with was very helpful.
It took less than a month from the time we signed the contract to go-live and everyone we worked with was very helpful.
Thankful to fantastic FloQast
What do you like best about the product?
The best part for me to use this software is the less stressful close as I can count on FloQast to remind me what is pending, what is off-balance, where my team may need help, and performance analysis post-close.
What do you dislike about the product?
I wish to add artificial intelligence to pick obvious errors in recon.
What problems is the product solving and how is that benefiting you?
Month-end Checklist, Reconciliation, Reminder, Month End progress
Excellent
What do you like best about the product?
The multiple checklist items you can have. Notifies you on the things you are the reviewer, set certain notifications and not all—easy updating or changes to be made.
What do you dislike about the product?
Sometimes I sign off, and it doesn't sign me off after I refresh. My notes will disappear as well. If there is a time restriction, then log me off, then me having to do things twice.
What problems is the product solving and how is that benefiting you?
Recons are more effortless and have no email approvals; sign-offs are approvals by reviewers. Everything is in one place instead of searching for items. Performance and time productivity have increased for many users.
Really complete and easy to understand.
What do you like best about the product?
Its really complete and its a good checklist to make sure everything is on it.
Easy to learn. And all of your team or company can participate on it.
Easy to learn. And all of your team or company can participate on it.
What do you dislike about the product?
I dont dislike anything. Honestly I think everything works correctly.
What problems is the product solving and how is that benefiting you?
the whole team. communication between partners. having all of the information gathered in 1 place.
Recommendations to others considering the product:
I really recommend the implementation of FloQast to the company. It will improve processes.
Long Time FloQast User
What do you like best about the product?
Very intuitive and easy to use, which is important when getting people to update it often. Can be used for regular closes, reporting and other processes.
What do you dislike about the product?
It's gotten a little more complicated as features have been added. Also, I wish it could link to files on my network rather than Box or OneDrive.
What problems is the product solving and how is that benefiting you?
Primarily, it adds order to our chaos. It helps people clearly see what they have to do and when as opposed to them just "doing" which drives accountability.
Great solution
What do you like best about the product?
Provides structure to the monthend close
What do you dislike about the product?
There is no iPad app and the solution does not work on an iPad browser.
What problems is the product solving and how is that benefiting you?
An organised structured accountable monthend close across multiple subsidiaries.
Growing Features; Responsive Team
What do you like best about the product?
FloQast provides a singular place for us to manage our close and compliance activities. It integrates well without ERP (Intacct) and works in our cloud storage environment (OneDrive). The controls surrounding entity access are excellent, and the integration with Excel was a great implementation efficiency feature. We didn't have to recreate our reconciliations to work in the new environment.
What do you dislike about the product?
Compliance management is in its infancy, so there is a lot to be desired. The product team is working hard and collecting feedback from users on what would be useful with this core service. There isn't currently a uniform task/reconciliation numbering convention which makes interdependency and change management a little cumbersome.
What problems is the product solving and how is that benefiting you?
FloQast has helped us reduce our close and reconciliation time by more than 50%. It also has enabled us to have better first drafts of our 10-Q filings because of the accuracy of our interim reconciliations. This efficiency has also allowed our team to free up time for process improvements.
Recommendations to others considering the product:
The core functionality is solid and additional functionality is developed for multiple releases per year. This company and its services are in active, iterative development. The price point is excellent! This product will transform your close timeframe!
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