FloQast
FloQastReviews from AWS customer
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Visibility, Delegation & Organization
What do you like best about the product?
My favorites features are the dashboard and the organization of the tasks and reconciliation schedules. At a glance I can see how far we are into the close process and then I can drill down to see which areas (cash, AR, AP etc) are completed or delayed. Not only can I view the areas, but I can further see which user is up to date or behind schedule which is a great people management tool as well.
The Excel reconciliation schedules are organized and all located within the system so I don't have to hunt for them on our internal server. The schedules roll forward into the next month very easily. As a reviewer, it is easy for me to review the completed schedules online, complete with PDF support as needed, and either ask questions via the review notes or approve the schedule as is.
The Excel reconciliation schedules are organized and all located within the system so I don't have to hunt for them on our internal server. The schedules roll forward into the next month very easily. As a reviewer, it is easy for me to review the completed schedules online, complete with PDF support as needed, and either ask questions via the review notes or approve the schedule as is.
What do you dislike about the product?
I have used this tool for about three months and so far have not yet found anything that I dislike.
What problems is the product solving and how is that benefiting you?
Accountability of assigned tasks has improved. We formerly had our tasks on an Excel list but this list was easily misused-resorted incorrectly, rows accidently deleted or written over. FloQast prevents this from happening. Any user can see where we are at, who did what, and who didn't do what. This improved teamwork.
FloQast created efficiency by being able to pull any reconciliation schedule and provide it to the auditors. We could also provide the auditors with proof of when it was completed and reviewed with the time and date stamp.
FloQast created efficiency by being able to pull any reconciliation schedule and provide it to the auditors. We could also provide the auditors with proof of when it was completed and reviewed with the time and date stamp.
Recommendations to others considering the product:
I first heard of FloQast during an IMA (Institute of Management Accountants) continuing education webinar about streamlining the month end close. I recommended implementing this product to my company's CFO. He saw the benefits and the rest was history. I could not imagine functioning without FloQast going forward. The implementation did not take a lot of time. The support team at FloQast is great to work with. We had several role transitions due to turnover and it was simple to add the new users and reassign the tasks. The new users commented on how easy it was to use, how easy it was to find what tasks were assigned to them and to know when the tasks were due.
FloQast has been amazing, from the initial setup to the software itself. There's nothing better.
What do you like best about the product?
Everything really. To list a few: The ability to sync with Box or equivalent. The ability to refresh a single account reconciliation balance from NetSuite without having to refresh the entire trial balance or source documents. The filters on task assignments.
What do you dislike about the product?
No tener la opción de fechar retroactivamente un elemento cerrado en la lista de verificación si simplemente olvidaste marcar un elemento cuando era debido.
What problems is the product solving and how is that benefiting you?
Faster close with extreme accountability of adhering to a close cycle.
Recommendations to others considering the product:
Choose FloQast. It will be the best decision you ever made with regards to managing your close process.
Big FloQast Fan
What do you like best about the product?
It's user-friendly and requires very little training. I am an executive-level accounting consultant and was hired to tackle several month-end issues for a tech company in Silicon Beach. My final project was to implement FloQast for the company and everyone loved it.
What do you dislike about the product?
Nothing comes to mind. I do look forward to a future release with capabilities that allow administrators to give auditors specific access to the company's data and reconciliations.
What problems is the product solving and how is that benefiting you?
Consolidation and streamlining of our month-end process. Controller can quickly see where the month-end process is at.
Recommendations to others considering the product:
If you compare to ART SkyStem or another competitor, it will be immediately obvious that FloQast is a superior product.
Best Software for Accounting Close Process
What do you like best about the product?
Ease of Use - User Friendly / Very flexible to attain our specific goal / Very reliable (wherever you are at work/home) / Improves work efficiency tremendously / Software maintenance is at the minimum.
I don't see any side-effects on this product (well though product for the Accountants) - excellent job on keeping the financial information intact and with integrity!
Build effective communication and TEAMWORK!
I don't see any side-effects on this product (well though product for the Accountants) - excellent job on keeping the financial information intact and with integrity!
Build effective communication and TEAMWORK!
What do you dislike about the product?
Need a bit of improvement on some of the functionalities we have observed which is not currently producing the way we wanted.
What problems is the product solving and how is that benefiting you?
Track all reconciliations and organized them.
Improve work efficiency.
Build effective communication within the Accounting Team.
Financial Integrity.
Reliable data.
Improve work efficiency.
Build effective communication within the Accounting Team.
Financial Integrity.
Reliable data.
FloQast has simplified close procedure, streamlined reconciliations, and provided ample visibility.
What do you like best about the product?
The reconciliation process is by far the best feature for our team. Being able to auto-reconcile specific accounts, and gain visibility into potential issues with others has made reviewing much smoother than our previous software. With the click of a button, FloQast sees the most up to date information from our GL and we have instantaneous insight into problem areas.
What do you dislike about the product?
The standard dashboard is very useful from a reviewer and department head point of view, but our team has provided feedback that it would be very useful to be able to customize the dashboard to make something more meaningful for them. However, the team over at FQ has been in regular contact with us and has been more than willing to hear our suggestions for future features.
What problems is the product solving and how is that benefiting you?
We have completely solved any unreconciled accounts, and have significantly increased the efficiency of our close process.
Adding close visibility and automation easily
What do you like best about the product?
FloQast has brought us a tool that allows me to have increased visibility to the close while being very easy to use. As a part of a growing company, other areas of the business had scaled but the accounting processes stayed the same. With FloQast, we have real-time visibility into our close checklist and account reconciliation process.
What do you dislike about the product?
We were one of the first to use the OneDrive integration. There were a few hiccups in getting started but it has been nothing but smooth sailing ever since.
What problems is the product solving and how is that benefiting you?
We had a lack of visibility into the close process. With FloQast, we have a very easy place to check and see how the close is coming. We also had limited visibility into our account reconciliation. Wiht FloQast, we have been able to increase the number of recs we are doing while making it easier to complete some of them with auto-reconciliation.
Recommendations to others considering the product:
We looked at competitors but ultimately decided on going with FloQast. Several key things we considered were the ease of implementation, not having to change many processes, and being able to get the product live quickly. We were to complete the implementation and go-live within a few weeks.
CPA Firm with a BPO Practice, looking to continually improve our services to the non profit sector
What do you like best about the product?
We started with FloQast at the beginning of 2016. We are currently running service delivery for 20 clients on the tool. Ultimately this will be our main production engine, driving standardized service delivery and process efficiencies.
Our engagement teams that have used the tool are big fans. FloQast facilitates efficient delegation and review for our team that is increasingly spread across the world serving clients who are spread across the country.
We view FloQast as an essential component of our outsourcing play and are excited to check back in with this forum as its impact matures in our business.
Our engagement teams that have used the tool are big fans. FloQast facilitates efficient delegation and review for our team that is increasingly spread across the world serving clients who are spread across the country.
We view FloQast as an essential component of our outsourcing play and are excited to check back in with this forum as its impact matures in our business.
What do you dislike about the product?
FloQast was not initially programmed for specific use by a BPO. To the credit of their ability to listen and hustle, they have made significant changes for the benefit of businesses like ours. They have made strides in our ability to monitor our performance across multiple clients and have many ideas in the queue for future advancement. We appreciate their responsiveness to our input.
What problems is the product solving and how is that benefiting you?
We partnered with FloQast as part of a move to improve service delivery through standardization. The early returns are very good, we can delegate and track delivery of our statement of work much better than we could in the past.
Recommendations to others considering the product:
BPO users of the cloud based tools supported by FloQast should strongly consider this solution. Advantages include monitoring performance, course correcting when necessary, documenting reviews, and driving efficiency.
FloQast is an easy to use tool that helps streamline processes
What do you like best about the product?
FloQast has a simple layout that makes it very easy to use the product. This tool allows you to easily create checklists and track the status throughout the close process. Additionally, for reconciliations an automatic email will be sent to you when it is out of balance. The sign off tool is great to allow you to assign tasks to specific individuals and help implement controls by assigning preparers and reviewers.
What do you dislike about the product?
One aspect of FloQast that is more time consuming is if you need to add a preparer or reviewer, you have to re-add all the individuals to the specific task.
What problems is the product solving and how is that benefiting you?
The largest benefit is that it has made transitioning team roles and responsibilities to new team members easy and has made the overall close process more efficient.
Recommendations to others considering the product:
FloQast is a great tool and I highly recommend implementing it if you would like to make your processes simple and efficient.
Wish we had implemented FloQast a year ago!
What do you like best about the product?
The training, implementation support, and ease of use are three of the highlights about using FloQast. We were up and running within a minimum amount of time on our part. The outcome far outweighs the few hours of pre-work to begin using the software.
What do you dislike about the product?
Personally, there isn't anything I dislike!! However, the rest of the team is surprised how easily and quickly I can now follow up with them!
What problems is the product solving and how is that benefiting you?
Both our external auditors and executive team have commented that the completeness of the month-end close checklist, timing of reconciliations and standardization of templates were below minimum standards. FloQast solved these issues and more in the first month after implementation.
Recommendations to others considering the product:
See above comments. I highly recommend!
FloQast
What do you like best about the product?
FloQast has helped increase the transparency in our overall close process and keep key stakeholders updated on progress. It assists in finding where bottlenecks are occurring so we can redeploy resources as necessary and ensure timelines are met. Reconciliations are centralized and completion / review status is easily viewed.
What do you dislike about the product?
Nothing material we dislike. There are features they are currently developing related to the reconciliation functionality which will be nice to have once released.
What problems is the product solving and how is that benefiting you?
Ensure close deadlines are met
Electronic reconciliations w/ sign off capabilities
Ease of updates to close tasks based on vacation & holiday schedules / staffing changes
Electronic reconciliations w/ sign off capabilities
Ease of updates to close tasks based on vacation & holiday schedules / staffing changes
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