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ESSA - automating the admin of closing each month
What do you like best about the product?
It's very simple to use and administer. It takes about 5 minutes per month to roll the next period; everything else is automated. It was really quick and easy to implement. Great ESSA opportunity for accounting organizations.
What do you dislike about the product?
You can't attach PDF's or other support to the rec; needs to be embedded in excel, which is a pain.
What problems is the product solving and how is that benefiting you?
Floqast makes the rec process simple. It is easy to review recs, efficient to give comments, and great controls (sign off, automatically removes signoff if balance changes). Great tool to speed up close process and eliminate the manual task of tracking recs nad completeness.
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Close Management Process Enhancer
What do you like best about the product?
Being able to monitor our entire team's close management process has assisted us with completing a 4-day close and allowed us to stay on track with our international teammembers.
What do you dislike about the product?
The only thing that can be challenging is the delay in updating trial balances, which is driven by our system integration (not FloQast).
What problems is the product solving and how is that benefiting you?
FloQast makes it easier to identify balance sheet variances prior to our month-end close meetings, so we are aware of all reconciling items.
Intuitive product with amazing product and customer service teams
What do you like best about the product?
I love how easy it is to use Floqast. If I'm ever unsure about something, the help center is easy to search and always gets me to the answers I need. I also love how open the product team is to feedback. I feel really confident in using the product knowing they are continuing to iterate and build, even after a prodcut has been released.
What do you dislike about the product?
Right now I think "AI" is a really hot topic and everyone is trying to be first to the market with AI features. I personally do not think this is the best use of the product team in the variance analysis. There are other core features lacking in variance analayis. I would love to see an easier interface to add accounts, check completeness, etc. similar to that in the reconcillations module. Fluxes are exteremly nuanced when done correctly and I do not think AI would be able to write an accurate flux.
What problems is the product solving and how is that benefiting you?
Ease of understading what tasks need to be completed in order to close the books.
FS Investments Michael Annocki
What do you like best about the product?
FloQast makes closing month end more efficient and gives users the ability to track upcoming items with ease.
What do you dislike about the product?
Not much, the only thing is that certain members with basic permissions do not have the ability to create recurring tasks/ rename tasks.
What problems is the product solving and how is that benefiting you?
Closing times, we are using FloQast to more efficiently track the close process.
First time user, overall really good experience
What do you like best about the product?
I like how all of the account recs can be accessed straight from Floqast - good way to centralize where everything is saved and give everybody visibility into the status of close related tasks.
What do you dislike about the product?
The emails are pretty agressive (is the all caps "YOU" really necessary)? But more just something we laugh about as a team.
What problems is the product solving and how is that benefiting you?
We have 10 different companies and it's been hard getting visitbility into everybody's close process. Floqast has helped us do that.
Exc plataforma
What do you like best about the product?
correct balance are displayed, friendly plataform
What do you dislike about the product?
they should have training in spanish, support in spanish
What problems is the product solving and how is that benefiting you?
see the reality accounting
Helped us stayed organized!
What do you like best about the product?
We keep all tasks in one space and we can see what is due. Also the filter function to see tasks that are assigned to myself.
What do you dislike about the product?
When there are multiple hashtags left on the reconciliation file, the system not able to identify where the hashtags are located.
What problems is the product solving and how is that benefiting you?
1. Organization
2. Signed off
3. SOX Controls
2. Signed off
3. SOX Controls
Floqast is a GAME CHANGER for month end. It makes the entire process more simplified.
What do you like best about the product?
I love the ability to go through each Gl account and verify completeness and accuracy fo account details. Makes the entire close process much cleaner and easy to follow. Nothing gets missed!
What do you dislike about the product?
Occassional delays at month end in the refreshing when docs are added. I assume the bandwith of users is multiplied at month end making the entire system slower. I generally just leave and come back to it at a later time if the refresh is slow.
What problems is the product solving and how is that benefiting you?
No items are missed. It basically creates a ste-by step process to follow and easy access for the reveiwer to see any one offs or discrepancies.
All-In-One Month-End Close Management Tool
What do you like best about the product?
- Ease of use and easy for new team members to pick up
- Internal controls built in with team member sign-offs
- Helpful and quick responses from account managers
- Export features of FloQast and report generations
- Internal controls built in with team member sign-offs
- Helpful and quick responses from account managers
- Export features of FloQast and report generations
What do you dislike about the product?
-Limitations to team member roles; allowing a team member to control their checklist for just 1 subsidiary rather than apply their role to all subsidiaries.
What problems is the product solving and how is that benefiting you?
Previously, we were tracking month-end close using Excel. FloQast has replaced this and provided us with integrated internal controls for sign-offs and reviews. We've also added the FQ Reconcilations tool, and love how we can see all rec's at once and quickly identify whether any need to still be reconciled. It gives us greater assurance over our financials.
FloQast has helped us with our close timeline and efficiency!
What do you like best about the product?
Having a clear work flow of our monthly tasks as a team. I don't have to personally message my teammates now to see when things have been completed so I may start my work.
What do you dislike about the product?
toggeling between different periods in the month.
What problems is the product solving and how is that benefiting you?
Efficient and streamlined close process. Communications between departments and employees in the same department. Knowledge sharing and review of reconciliations. Alerts of when a reconciliation is out of balance and ties directly to our books in Netsuite.
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