FloQast
FloQastReviews from AWS customer
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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!
Excellent Tool to Manage Your Close
What do you like best about the product?
FloQast gives me (Corporate Controller) the ability to monitor my staffs progress on our financial close at all points during the close. It is fully integrated with our accounting G/L and makes storing and organizing backup documentation extremely easy. The analytics tool allows me to understand where the hold ups are occurring and where we might potentially need to allocate more resources.
What do you dislike about the product?
Could use some enhanced features. It has been somewhat difficult to gain full adoption from my team as they aren't used to logging into a new software. While it's a great tool to organize our close, the features of the product are still somewhat basic.
What problems is the product solving and how is that benefiting you?
I was trying to get off Excel to manage our close and something that was integrated with our Accounting G/L. FloQast was easy to implement and centralized all of our close tasks in one software. It helps us organize, monitor and analyze all the processes involved in closing our books.
Surprisingly Effective New Product
What do you like best about the product?
I really like the hash-tag capabilities because it makes reconciliations seamless.
What do you dislike about the product?
I wish I could rename folders within the application.
What problems is the product solving and how is that benefiting you?
The product helped our team effectively transition from a quarterly close to a monthly close process.
Recommendations to others considering the product:
The tool's greatest strength is it's flexibility. Reconciliations are still performed in Excel (which is the life blood of accounting) yet can be organized and tracked in real-time using FloQast's easy-to-use dashboard interface. You get as much out of the product as you put into it. The more time you devote into integrating the Company's processes into your FloQast account, the better your end result will be come audit time.
FSCP improvements. #FloQast
What do you like best about the product?
The ability to instantaneously obtain status information on the FSCP.
What do you dislike about the product?
Review notes are not linked to a particular cell in the reconciliation.
What problems is the product solving and how is that benefiting you?
We have less status meetings. My team is meeting their deadlines.
Recommendations to others considering the product:
Its a great program that provides real time information and helps with our review process.
Great tool to streamline month-end close
What do you like best about the product?
Floqast significantly helped us reach our month-end close deadline of 5 business days. With the checklists and users, we are easily able to see where we stand and what still needs to be completed. We put in some time to make sure we have a solid checklist with proper due dates relative to our procedures and that has helped immensely. Also, Floqast provides an easy place to store and tie out reconciliations to our GL.
What do you dislike about the product?
There isn't much I dislike. I think it could use some new features, although I'm not exactly sure what to suggest. I just feel like it's been essentially the same product for a few years now.
What problems is the product solving and how is that benefiting you?
Our close prior to Floqast was a little messy. Once we fully adopted the product and had it set up with everything we needed, it has helped us hit our close deadline on time every month.
Recommendations to others considering the product:
Make sure you really put the time into setting up a good checklist and you will see the benefits.
Really impressed!
What do you like best about the product?
The user interface is fresh, welcoming, and inviting. I can glance at the dashboard and instantly know what needs my attention.
What do you dislike about the product?
I am looking forward to MORE! The product is exactly what it was promised to be, but I can't wait for more features so that I don't have to implement other solutions to do something that I know FloQast can do better.
What problems is the product solving and how is that benefiting you?
The monthly close and review process has improved substantially. The checklists and sign-offs in FloQast provide real time communication which frees up my team to do other tasks. The auto-reconciliation feature has decreased preparation and review time.
Recommendations to others considering the product:
Don't be intimidated by implementation. The FloQast team delivered what they promised regarding implementation.
Great enhancement to our close process
What do you like best about the product?
FloQast streamlines the entire close process and provides excellent visibility and accountability to all involved. The interface is intuitive and very user friendly. The notes feature allows for easy tracking of review comments and documentation. The FloQast team is also very knowledgeable, attentive, and enjoyable to work with.
What do you dislike about the product?
I have been using the product for about 3 months and am very satisfied.
What problems is the product solving and how is that benefiting you?
Prior to implementing FloQast we had an very manual reconciliation and close process. Reconciliations were printed, signed by hand, and maintained in a binder. The close calendar was maintained in excel. This resulted in a large administrative effort each month. Since implementing FloQast we have been able to remove almost all of the administrative work. This has allowed people to focus on closing faster and spending their time on value added activities.
Recommendations to others considering the product:
I recommend you do a Demo.
Great software with even better customer service
What do you like best about the product?
The software is great and really filled a need for our company in streamlining the period-end close process and providing transparency to all members of the finance and accounting team. The software is very user friendly. In addition, we really like the customer service they have provided. They did a tremendous job of communicating with our team throughout the implementation process and providing training. We have had questions subsequent to going live and their team has responded very quickly and always found a solution. Lastly, they appear to be a company that is always looking for ways to build in more features and make the software more robust.
What do you dislike about the product?
Nothing to dislike. Initially our update times for account balances were taking a long time; however, the Floqast team solved the issue and they take less than 30 seconds now.
What problems is the product solving and how is that benefiting you?
We have eliminated the risk that an account reconciliation is not prepared or signed off. Our close process has been a lot smoother since getting on the Floqast platform. Also, Floqast has eliminated the need for our team to have daily meetings to discuss status of items.
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