FloQast
FloQastReviews from AWS customer
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Highly recommend as it's communication and organization is amazing!
What do you like best about the product?
I love how organized Floqast is with the folder structured to match your balance sheet. All your reconciliations to your balance sheet are within the proper folder makes it so easy to review each month and find corresponding support. In addition, I like that you are alerted of any changes made to balances after they have been signed off on.
What do you dislike about the product?
There isn't much I do not like, however once in a while it can be a little slow at updating or pulling information from our accounting software and reconciliations.
What problems is the product solving and how is that benefiting you?
We are more organized, catch backdated transactions, and are more efficient. I also love our communication within the system as it's easy to find if you ever need to reference it later.
Streamlined Our Close and Strengthened Controls
What do you like best about the product?
We have used FloQast for two years and have seen significant software improvement, both in utility of the application but also in the addition of value added features that have enhanced our close, both from a timing perspective, but also from strengthening of our controls over financial reporting. Add-ons such as Flux Analysis have been welcomed features for our organization. We are a public company so having a grounded ledger account understanding of changes in balances is critical. Other features such as appointing preparers and reviewers on a quarterly or annual basis (rather than monthly) have allowed us to focus on the proper cycling for reconciliations (key v. non-key) during a quarter. Lastly, the technical support we have received from FloQast has been tremendous. Our emails to TS are received and responded to within hours if not within minutes. We are pleased with FloQast as it fits well within our twelve person accounting group and has been, as I said previously, a game changer.
What do you dislike about the product?
I previously voiced a dislike to the lack of analytics, an area that FloQast has addressed and truly sought to add value to its customers. My one continued callout, and one I do not think FloQast is looking to action relates to optimizing screens so that FloQast can be used on a mobile device. Having the ability to review on my phone is critical, but is currently challenging as the application is not optimized. Navigating from screen to screen is clumsy as a result, and at times frustrating. Given the mobile age that we live in, having mobile functionality is important especially to reviewers who can execute their responsibilities at a point and time of choosing.
What problems is the product solving and how is that benefiting you?
Historically we had a close process that lacked accountability for deadlines and uniformity in presentation of reconciliations. Our close process is uniform in approach, which allows for cross-training opportunities during close. We also leverage FloQast with our auditors, which has reduced the amount of time we incur on PBC list items. Auditors have access to pull reconciliations, as needed, and have the ability to test controls around our financial close without having to burden our staff with requests.
Recommendations to others considering the product:
While FloQast is not the largest vendor in the financial close space, it is a very stable platform and incredibly easy to use and update. The organization continuously looks to improve the offering by expanding the tools we have (flux analysis, reconciliation, etc.) to close and monitor close. We find the application to be fairly and competitively priced for the value we receive.
FloQast is a great application
What do you like best about the product?
FloQast helps us organize and manage our month-end close and provides visibility to all team members of current status and open items.
What do you dislike about the product?
There isn't much to dislike about FloQast.
What problems is the product solving and how is that benefiting you?
FloQast has helped us streamline and speed up our month-end close process.
Meets our needs and more
What do you like best about the product?
Ease of use for Admin and all users to make changes to the Checklists as well as the Reconciliations module.
What do you dislike about the product?
Cannot effective date the actual date a checklist item was completed. Only allows user default to today's date.
What problems is the product solving and how is that benefiting you?
Checklist does a great job of tracking all the 200+ tasks that are needed to perform our month-end close.
Recommendations to others considering the product:
FloQast is continually releasing enhancements to this product. I look forward to see all the advancements they make in the near future.
Easy and efficient way to gain transparency into close process
What do you like best about the product?
Ease to add tasks and filter on open items
What do you dislike about the product?
Time it takes to sync from reconciliations / general ledger
What problems is the product solving and how is that benefiting you?
Able to track close progress and keep everyone accountable
Excellent Technology for Managing the Close Process
What do you like best about the product?
I love the workflow, the reminders, the approval, sign-offs, integration with Netsuite, basically everything!
What do you dislike about the product?
Looking forward to new features such as adding links and maybe procedures?
What problems is the product solving and how is that benefiting you?
Efficiency and accuracy with the close. We are much more efficient with our 3 global operations as a result of Floqast.
Recommendations to others considering the product:
This tool will improve your close management and drive a faster close with your users.
Easy tool, why didn't I think of this first!
What do you like best about the product?
One stop shop for all month end close management. Organization of all the recons and being able to track that easily, best part is when something goes out of balance you are notified .
What do you dislike about the product?
The connector with Google Team Drive and not having the ability to lock down folders like BOX has.
What problems is the product solving and how is that benefiting you?
Manage month end close and knowing where the team is at any point during month end. Trimming days off month end close.
New product-Flux analysis tool will be a nice tool when there a bit more features, as we do that in Excel now.
New product-Flux analysis tool will be a nice tool when there a bit more features, as we do that in Excel now.
Making the accountants life easy!
What do you like best about the product?
Checklist and Recons are the best features - gives real time status of close process. Plus the frequent upgrades to the tool with cool features show this is not the best yet
What do you dislike about the product?
Roll over of the checklist from one period to the other can be a bit tedious. Filtering options are a bit limited - i want to be able to filter multiple entities or multiple accounts
What problems is the product solving and how is that benefiting you?
Providing real time status of close, finding areas to shorten close
Simple and user friendly software for a Quick close.
What do you like best about the product?
As an administrator, I like how easy it is to make changes to recs, checklist and users.
What do you dislike about the product?
I wish it had an option to pull in more data, or have a drill down feature to see subsidiary and vendor information.
What problems is the product solving and how is that benefiting you?
Organized and efficient close process. Having a real-time watch on the status keeps the process moving smoothly.
Floqast Review
What do you like best about the product?
Floqast non solum miras notas pro computis habet, sed etiam eximium servitium. Ut familia tractamur et quaestiones nostrae semper responsa immediata habent. Maxime autem, auditores nostri hoc quoque amant et recensiones nostras multo facilius faciunt. Super usor amicus et certus.
What do you dislike about the product?
Refreshing credentials, would like to see some more reports, only pulling in current month activity than balance.
What problems is the product solving and how is that benefiting you?
Audits, monthly/quarterly closes. Assist our team with their responsibilities and review. Communication is best using FloQast.
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