FloQast
FloQastReviews from AWS customer
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FloQast - One of our favorite CAS tools
What do you like best about the product?
That it’s connected to our Sage Intacct balances and the scorecards of % complete of close to share the knowledge with the whole team.
What do you dislike about the product?
Needs a little more automation to roll over schedules. That we can’t roll up lots of client’s info to see an accountant’s console of % closed by each client in one spot.
What problems is the product solving and how is that benefiting you?
A standard way to do month end close. We know ahead of time where we are on every month end close.
FloQast has continually kept our close on track!
What do you like best about the product?
1 central place for everyone in our global accounting team to track progress and ensure our financials are clean/understood.
What do you dislike about the product?
Cant sort within the system (have to export to excel)! I would love to be able to sort on the various fields for both checklist and reconcilitiations
What problems is the product solving and how is that benefiting you?
We dont miss anything. For accounting, that is essential. In addition, our processes flow correctly, in the right order. That way the team understands dependencies and executes on the right items at the right time.
Recommendations to others considering the product:
Its the best close management software out there that I know of. Simple, easy to use, and adds immediate value.
Excellent organization tool for accounting close and reconciliation processes
What do you like best about the product?
Floqast automatically sets up your accounting close tasks and calendar based on established rules (e.g. A/P closes each month on the 5th business day). These may be customized as monthly, quarterly or annual recurring events. Dashboard reporting provides easy monitoring of your close progress, especially handy when your team is larger than just a couple of people. Floqast "enforces" a much appreciated centralized organization of supporting files. Lastly, having task or account reconciliation signoffs gives supporting internal control documentation. Auditors love using the tool...I give them full access.
What do you dislike about the product?
I would like for Floqast to "automagically" integrate with Planful- we have to manually update the chart of accounts and balances in Floqast. This is not a cumbersome process but is a quick manual task that we would love to see automated.
What problems is the product solving and how is that benefiting you?
Floqast facilitates communication across diverse geographic locations; we have more confidence that all accounts are reconciled and task completed for an accurate accounting close; and our audit preparation is much easier and faster.
Recommendations to others considering the product:
Floqast was extremely easy to implement. We completed installation in three weeks...start to finish.
Great for Keeping Organized
What do you like best about the product?
I am a fan of checklists and this is a great software for them. I like that it is customizable based on your individual tasks and can be linked to QB to import necessary data.
What do you dislike about the product?
It's slow to update when tasks are complete so occasionally takes some time to reflect in the software that the month is ready to be locked once complete.
What problems is the product solving and how is that benefiting you?
It is a real easy way for our organization to stay connected with each other on what tasks have been done and which ones still need completing with the majority of us telecommuting. It gives some assurance that tasks have been completed because preparers are having to sign off with their login to say they have done the tasks.
One stop shop of the status of our close.
What do you like best about the product?
Well controlled, easy to use and very intuitive.
What do you dislike about the product?
I love all of the functionality in Floqast. My dislike is not being able to control the look and feel of the dashboard - mainly there is too much space between the lines. I wish we could have a "condensed" view to see more of the items on each page.
What problems is the product solving and how is that benefiting you?
We were previously tracking close in google sheets. There was no control over how items were tracked and controlled. We now have one team member that can update the checklist. In this way we can ensure that we get a clear and consistent view of our close. This tool allows us to remain focused on what we need to do and when. Before we used Floqast we had NO cadence of our close. We now close in 10 days and are on track to cut to 5 days by the end of 2020. Floqast was a huge part of this improvement.
Recommendations to others considering the product:
Floqast can be used as a step by step process document for all of the procedures needed to close the books. Many of our teams use it to document all steps needed to complete tasks. We have also set up document folders that house policies and other documents.
Floqast has been a game changer for our close process!
What do you like best about the product?
Everything is tracked in one place which really helps the team stay organized and only have to go to one place. The analytics and visuals are great for management to see our progress.
The system adds controls to the checklist and reconciliation process that are otherwise hard to manage.The alerts when recons go out of balance are huge!
The setup and updates are easy. Even for mass changes, the upload tool is very user friendly.
The support team we have is super responsive and helpful.
The system adds controls to the checklist and reconciliation process that are otherwise hard to manage.The alerts when recons go out of balance are huge!
The setup and updates are easy. Even for mass changes, the upload tool is very user friendly.
The support team we have is super responsive and helpful.
What do you dislike about the product?
Nothing comes to mind. Floqast has been really positive for our organization. Being able to edit the checklist and now recons directly on the page we are working on has also been a big time saver as the admin of the account.
What problems is the product solving and how is that benefiting you?
The biggest problems we are solving are around organization and tracking. In addition, having everything in one tool saves time and confusion for all parties.
Exceptional Month-end Close Tool
What do you like best about the product?
FQ give me the ability to see our close progress at a consolidated level and drill down to the reconciliations and supporting detail. This was sorely needed for our close process before we added FQ.
What do you dislike about the product?
I'm hoping for some revisions to the notes and the back-and-forth exchange between reviewer and accountant. My ultimate hope is to move any/all of our reconciliation review Q&A process out of emails and into FQ. However, the current notes make it slightly difficult to completely make the transition.
What problems is the product solving and how is that benefiting you?
We are managing our close process and timing more effectively with FQ. Also, one of the greatest benefits has been knowing that as the GL balances are changing through the close the recs are kept in balance. Prior to life with FQ, recons would be approved and then never touched again until the following month, despite balances changing after that initial sign-off. We now have peace of mind that is no longer taking place.
FloQast keeps me on track
What do you like best about the product?
it really keeps me on track with my recurring reconciliations and tasks. I like the updates when something is out of balance and the review notes to tag my colleagues.
What do you dislike about the product?
There's not much to dislike about it, if I have to pick something, I would say some of the analytics are a bit lacking.
What problems is the product solving and how is that benefiting you?
We didn't have ownership of accounts before using FloQast, but this forces the issue and has really helped keep our books organized.
Great way to track tasks and reconciliations
What do you like best about the product?
My favorite part of FloQast is the transparency to our accounting leadership so we can see exactly where everyone is in the month-end close process. We've found several other uses for Checklists and love it! I can't say enough about the client services team...they always take great care of us.
What do you dislike about the product?
I wish we could import budget numbers and have monthly variance reports. The existing flux analysis that compares month-over-month is not helpful for my company which is why we did not purchase that component. The software is also cost prohibitive to roll this out to other departments in our or
What problems is the product solving and how is that benefiting you?
I which we could have a little more flexibility on due dates as we have WEEKLY tasks that we are having to bandaid into FloQast and it doesn't always work correctly. Would also like to be able to pick certain days of the week for due dates. Overall, the checklists are great and keep us on task....just need a few more options to be a 100% win.
Useful Tool
What do you like best about the product?
Single place to manage close checklist and track status, forces rigor and consistency in format and structure.
What do you dislike about the product?
Can't quite get the views I'd like, not a deal breaker.
What problems is the product solving and how is that benefiting you?
Significant increase in upward visibility on close status and scope, valuable now and will be more valuable as we scale.
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