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Fast and Efficient
What do you like best about the product?
First software implementation I've done that was as easy as they made it sound, and stuck to the original timeline. Implementation took minimal hours from our team, and the efficiencies/visibility we obtained was worth it! Also, our Directors love having the user dashboard where they can easily track the Close status.
What do you dislike about the product?
The sync between FQ and Box.com was a bit confusing for our team. The training should over-emphasize the need to dowlnoad the local version of Box.com to each user's computer (File Explorer for Windows). Our team was having some confusion/trouble until they added the local access to the Box.com files. I created a step-by-step guide for our team regarding how to download... but this should be provided by FQ for your users in advance.
What problems is the product solving and how is that benefiting you?
We just had our first month-end close using FQ, but eventually it will allow us to easily see efficiencies and decrease our # of days it takes to close the books. This will lead to more timely information for our company to make better strategic decisions!
Recommendations to others considering the product:
None - it's as easy as it looks!
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Absolutely Fantastic
What do you like best about the product?
I have never been more impressed with any product that assists with close more than I am with FloQast. It reduces the manual work to track tasks, manually reviewing that reconciliations match the trial balance, reduces sign-off time, and provides so many other time saving features that I cannot remember them all. I must also say how much risk of mistakes is reduced for the individual performing the reconciliation and for the reviewer. The rate at which improvements and added features are implemented is very impressive - I have never seen a company put out so many meaningful features and improvements so quickly and seamlessly.
What do you dislike about the product?
Much utility could be added both for close and non-close tasks if items could be assigned not just by work-day or hard date, but also by certain days of the week. Such as being able to assign a checklist item that occurs each Monday in a month. You could do this in FloQast but it would require adjusting the work-day or hard dates each month. This is a very minor item though and one that is not necessarily within the scope the product is built to handle.
What problems is the product solving and how is that benefiting you?
We have used FloQast to track close in a much more assured, expedient manner. It is much easier to manage the progress of the close cycle, faster to sign-off on completed reconciliations and review them, far less risk that a task or reconciliation will be forgotten, it is quite easy to adjust FloQast for changes within the company, and many others that I am sure I am forgetting.
Recommendations to others considering the product:
If you use Excel or another "manual" process to track your close - switch to FloQast as soon as possible. The FloQast team is great with implementation and the benefits are amazing.
Floqast Fan!
What do you like best about the product?
We initially were interested in Floqast to help when balances are signed off on and a journal entry changes them later in the close, an alert is sent out so the preparer can update their reconciliation to match the new GL balance. However it has helped us expedite our close by being able to identify consistently late tasks and address these bottlenecks.
What do you dislike about the product?
There isn't anything I can think of that I dislike, the company is constantly asking customer for feedback so if there is is a feature you want you can pass that info along.
What problems is the product solving and how is that benefiting you?
Floqast has given visibility into the close easily without having a close meeting, constantly updating a spreadsheet, etc.
Wonderful Close Management Solution
What do you like best about the product?
I love the visibility that FloQast provides to all users. It's great to have all close-related items in one place, with a requirement they be checked off when completed and reviewed to ensure that nothing slips through the cracks. The document roll-forward is a great feature, as is the ease of reviewing reconciliations and related workpapers directly from the portal. The implementation and set-up was also a very good experience and my entire team was quickly able to adopt the software.
What do you dislike about the product?
My team and I have been using FloQast for 3 months now, and have not run into anything we dislike. The only thing I could think of that could use improvement was the constant manual re-uploading of the trial balance but they are already testing out a fix.
What problems is the product solving and how is that benefiting you?
Switching to FloQast from a very manually updated Excel checklist has improved our transparency, accountability, and overall management of monthly close. I also think it has naturally improved many of our processes and as we continue to use it, will help keep us consistently audit-ready.
Recommendations to others considering the product:
FloQast eliminates so much of the administrative work required when you just keep an Excel checklist or something similar, and also eliminates a lot of error and missed reconciliations when you are relying on memory and messy processes to complete everything. It helps you and your team stay accountable for tasks, and stick to your goals. My team has experienced great success using FloQast and are only a few months in. I would definitely recommend following through with a demo of the product if you are even slightly interested.
Great at keeping our end of month close on track!
What do you like best about the product?
This tool really allows us to keep on track for our end of the month close.
I really like the ability to have assigned people for each task and approvers. Those tasks all roll up to the larger project task list and % complete.
The ability to ask questions and add notes to each task makes it easy to collaborate.
I really like the ability to have assigned people for each task and approvers. Those tasks all roll up to the larger project task list and % complete.
The ability to ask questions and add notes to each task makes it easy to collaborate.
What do you dislike about the product?
While its a great tool, the UI could be cleaned up a bit. Also, if there were integrations to other tools like Salesforce so that things could be pulled in, that would be great!
What problems is the product solving and how is that benefiting you?
We have really streamlined the close process with this tool.
Recommendations to others considering the product:
Give it a try if you have a lot of people and tasks that you need to manage on a monthly basis.
Great for Month-End Close Managers!
What do you like best about the product?
We've been using Floqast for the past 4 months and have loved it. Converting over from shared excel spreadsheets that showed our team's progress through close, Floqast has been great. The implementation was extremely fast and they did most of the work for us. We love the fast filter options, ability to roll forward the checklist month to month with updates in between if needed, reconciliation feature which syncs directly to our GL system.
What do you dislike about the product?
We do not have anything we dislike about the product thus far!
What problems is the product solving and how is that benefiting you?
We have a goal of shortening and standardizing the close from 10 business days to 6 business days in the next year and half. We love that Floqast has the "analytics" section that shows us how we're progressing towards this goal.
Recommendations to others considering the product:
If you need a tool that's easy to use and doesn't require months of implementation time, I would highly recommend Floqast. Our company is extremely picky about user interface/UX as well since we're in the business of helping our own customers with it, and we highly recommend Floqast in this respect as well.
Makes my life easier!
What do you like best about the product?
I love that I can have all our processes in one location, not spread over multiple to-do spreadsheets. Floqast allows for me to have visibility to other's work - I no longer have to hound people to see if things are done. I like being able to save notes on items month over month. Helps to be able to track changes by going back the month before to see if there was an anomaly in the previous close.
It is extremely easy to change the assigners for tasks and the due dates each month. I thought that would be time consuming, but being able to export, make changes to a spreadsheet and then import the changes makes it happen in a flash. And it is intuitive enough to not change an item that has already been marked as done.
It is extremely easy to change the assigners for tasks and the due dates each month. I thought that would be time consuming, but being able to export, make changes to a spreadsheet and then import the changes makes it happen in a flash. And it is intuitive enough to not change an item that has already been marked as done.
What do you dislike about the product?
One thing that has taken me a bit of time to get used to is figuring out the due dates for items. But once I got that down, it was easy up update month over month.
What problems is the product solving and how is that benefiting you?
The main reason I wanted FloQast was to get all our processes in one place with items assigned to people. Now I can see where people are in the process instead of having to constantly ask or look in Intacct to see if something has been done. Important items aren't falling through the cracks anymore. We had an issue where a team member was all of a sudden out on a family medical emergency. If we had had Floqast back then, the worry/fear of what hadn't been done on their desk would have gone away. It takes a lot of the stress of managing a bunch of people and a lot of tasks very simple.
Recommendations to others considering the product:
If you are looking for a solution help ensure your close is happening how and when it should, FloQast is where it's at. I no longer have to worry about whether I, or someone else, missed something in the month. The cost of it is well worth it - it gives you back time to actually get things done instead of figuring out what has or hasn't been done yet. We use it not only for our close, but also for a monthly task list of other items that need to be done in the month. The system gives you the flexibility to use it outside the normal close-the-books list. A team member recently told me that he didn't have to think about what to do next anymore. He wasn't a list keeper, and now everything is in one spot. There is no more relying on just your memory for important tasks.
Easy to use, excellent user interface, well worth the price
What do you like best about the product?
This close management software allows our company to easily track what has been and has not been completed for each monthly close. I like the ease of use and the ability to import excel files that our ERP system, Sage Intacct, can easily export. The system can reconcile our ERP system to our reconciliations. FloQast incorporates review notes, analytics to identify bottlenecks in the close, and allows for other workflows even outside our close. I liked this system so much that when I moved to another company I tried to convince my new company to use it. We were not able to at the time so I developed my processes around the setup in FloQast and when we were able to sign up for FloQast I was able to easily implement the system.
What do you dislike about the product?
I have not found anything yet that we dislike other than features that may not be available. I like the AutoRec amortization and AutoRec features but it would be nice to develop features surrounding fixed assets in addition.
What problems is the product solving and how is that benefiting you?
FloQast has decreased our setup time each month to compare our reconciliations to our ERP system. The notes in the system have improved our tracking of issues and how they are resolved. We have been able to start developing a more comprehensive checklist that we know will be transparent and easily trackable. We have also been able to spread out the monthly close among multiple employees rather than rely on a few employees to complete the close. This allows us to complete the close more quickly and to leverage other employees' knowledge of their assigned areas when closing.
One of the best workpaper/workflow review tools out there, with excellent people behind the product
What do you like best about the product?
Smooth GUI, easy to use, excellent support
What do you dislike about the product?
No QuickBooks Online integration (yet..)
What problems is the product solving and how is that benefiting you?
Quality Control related to the monthly financial close of our clients.
Recommendations to others considering the product:
If you are tasked with the financial review of a number of organizations, this tool is an excellent solution. We use it to make sure that every document that goes into a monthly close is properly prepared and reviewed. Once implemented, a tool like this can bring quite a bit of efficiency to each month's close. The company is still young and so is the product. They are routinely building in new and updated features and truely seem to listen to their customers. I have nothing but positives to say about FloQast..
One of the most valuable tools I use as a controller. Will never close the books without it again!
What do you like best about the product?
Super easy to use. Super easy to implement. Helps us organize the close or 6 different companies. Account rec features. Easy to make changes to existing close programs. Review notes streamline communication. It is very easy to customize.
What do you dislike about the product?
Nothing. They are constantly tweaking the product to make it better. I am sure there is room for improvement, but overall we are thrilled with this product and what it has done to improve our financial close processes.
What problems is the product solving and how is that benefiting you?
Process and workflow. Making sure we dont miss anything. We have shaved off time of our close and become much more efficient and purposeful in everything we are doing. It also helps to integrate our remote locations into our accounting team to acheive more synergy.
Recommendations to others considering the product:
look at the demo. It works as good as they sell it as!
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