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FloQast - Affordable Alternative to Blackline
What do you like best about the product?
Quick to learn, easy to implement, various features that can be added or not included based upon your needs with a much more afforable tag than Blackline.
What do you dislike about the product?
New features are rolling out often which do have a beta period to work out any kinks. They don't always seem to be useful, however they may be more useful for other industries.
What problems is the product solving and how is that benefiting you?
Easier organization and keeping everyone on track month end tool.
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Streamlined the Closing Process with Great Efficiency
What do you like best about the product?
FloQast has streamlined our close process in several ways:
1) FloQast allows us to create custom checklists that ensure that we don't miss anything. The checklists can be updated anytime change is needed.
2) The reconciliation process was a game changer for us. Coming from manual spreadsheets to FloQast introduced us to fantastic tools like Auto-Rec and the Amortization Schedule for prepaids.
3) FloQast allows us to set deadlines and view the status of those deadlines with the analytics tool. This is another way that it keeps us on track.
In summary, FloQast has changed the way we close the month, reconcile accounts, and stay on schedule with due dates. We are very happy with it!
1) FloQast allows us to create custom checklists that ensure that we don't miss anything. The checklists can be updated anytime change is needed.
2) The reconciliation process was a game changer for us. Coming from manual spreadsheets to FloQast introduced us to fantastic tools like Auto-Rec and the Amortization Schedule for prepaids.
3) FloQast allows us to set deadlines and view the status of those deadlines with the analytics tool. This is another way that it keeps us on track.
In summary, FloQast has changed the way we close the month, reconcile accounts, and stay on schedule with due dates. We are very happy with it!
What do you dislike about the product?
The reliance on Microsoft OneDrive has created minor issues at times. Because our reconciliations are saved on a shared drive, we occasionally lose connectivity. We can usually troubleshoot this on our own in less than 5 minutes, and rarely need IT assistance doing so.
What problems is the product solving and how is that benefiting you?
FloQast took a very manual process, with very large and complex spreadsheets and streamlined our reconciliation process. This has reduced the amount of time it takes to close the month and allows our employees to move on from month-end close much faster.
Game Changer
What do you like best about the product?
FloQast has demonstrated industry leading qualities from start to finish. In the sales portion of the experience, FloQast members shared genuine interest in helping us solve problems rather than just pushing us to signing a contract. Once implementation begun, we were assigend a rep that helped us not only set up the product, but guided us in a way to also think critically about how our business practices could evolve throughout. The implementation was incredibly easy and our rep kept me (as an admin) in the loop throughout to ensure I was able to continue supporting the software once the implementation phase had concluded. FloQast takes customer feedback seriously and rolls out additional features frequently based on feedback received. In total, after 6 months of use, the time to complete our close has decreased by 60% and we are more confident in the accuracy of the underlying data than ever before.
What do you dislike about the product?
FloQast is incredibly flexible and our company has been able to find many "work arounds" for some complex hurdles and reporting requirements. My only critique of FloQast would be having a larger pool of comprehensive "out of the box" solutions.
What problems is the product solving and how is that benefiting you?
Our company had a problem with enforcing standardization across multiple entity types and reporting requirements, while also encouraging efficiencies. FloQast has not only allowed us to create standardization, but encourage cross training (i.e. people from different teams can easily help with one-off tasks by following the layout in FloQast). We have also been able to evaluate the close process in terms of completion timelines to identify bottleneck processes that need additional atention.
Good Close Management Product
What do you like best about the product?
It helps our team stay organized during month-end closes.
What do you dislike about the product?
We had issues with prior-year balances not updating once we hit February 2024.
What problems is the product solving and how is that benefiting you?
Notification when rec balances change is very helpful.
Seamlessly integrates with your accounting system and keeps your team on track!
What do you like best about the product?
FloQast is easy to use, has flexibility for a lot of scenarios, integrations with Slack, and notifies us when we're behind on something as well as providing analytics and predictions on our close and operational tasks. We were able to get up and running quickly and our reps respond timely to our questions and schedule calls as necessary. This is the tool my team lives in and it's made it a lot easier for me to keep a close eye on how we're doing.
What do you dislike about the product?
I wish we had API access to trigger more in FloQast.
What problems is the product solving and how is that benefiting you?
It keeps my team on track and provides visibility to all of the items that need to be done and when, including review.
Good web-based application for managing and consolidating work across multiple ERP systems
What do you like best about the product?
The notifications when an account goes out of balance allow me to look into any issues promptly (I am a Staff Accountant).
What do you dislike about the product?
The notifications don't specify what actually caused the variance. Additionally, I feel we could use a diagram of which accounts specific accounts roll up into which larger accounts used for consolidation and the overall financial statements, and I don't believe that is available, but I am not responsible for managing the structure of the accounts, so I could be wrong.
What problems is the product solving and how is that benefiting you?
It makes it much easier for our accounting and finance leaders to consolidate our information from multiple entities into one unified statement. As a Staff Accountant, it has helped a bit by providing clarity on role and responsibilities.
Very useful tool for Task management and reconciliations
What do you like best about the product?
The option to send you reminders for the tasks approaching the deadline is great. Keep your accounts reconcilied. Auto amortization option. Integration with the whole team.
What do you dislike about the product?
The auto rec feature isn't that helpful if you have larger data.
What problems is the product solving and how is that benefiting you?
keep our recs on track and the whole checklist on time among the team.
Floqast - A clear and straightforward close management tool
What do you like best about the product?
Floqast gives us a method to show our close progress at both high and detailed levels. It allows us to present our progress to management and identify any gaps in our close schedule.
I also like the ability it gives us to show our external auditors formalized sign off process.
The Floqast internal support team is very quick to respond to tickets. I'm not sure I've ever had such rapid responses.
I also like the ability it gives us to show our external auditors formalized sign off process.
The Floqast internal support team is very quick to respond to tickets. I'm not sure I've ever had such rapid responses.
What do you dislike about the product?
Honestly, there is nothing I dislike about Floqast. It's easy to use and functions as requested.
What problems is the product solving and how is that benefiting you?
Floqast provides our company with a systematic sign off process for close processes and account reconciliations. Prior to Floqast implementation we maintained an Excel workbook for close process signoffs and account reconciliation was performed in individual Excel reconciliations.
Floqast also provides us with accountability as process owners are required to certify completion of tasks.
Floqast provides us with a central repository for important financial documents allowing corporate users and management easy access for review.
Floqast also provides us with accountability as process owners are required to certify completion of tasks.
Floqast provides us with a central repository for important financial documents allowing corporate users and management easy access for review.
FloQast - the extra admin I needed
What do you like best about the product?
My favorite features in FloQast for the reconciliaitons are that I can run a completeness check to ensure all accounts are being included as well as the notification I receive if a reconcilation goes out of balance due to a change in the account balance. The checklists keep my team on track and helped us to achieve a much more timely and consistent close. We use the tool each and every month. It is so easy to use and was seemless to integrate as well. Any questions were answered promptly by customer service, who has gone above and beyond to help us.
What do you dislike about the product?
I know it is in the works for the near future, but the analytics could be more robust if it would allow comparision of more periods.
What problems is the product solving and how is that benefiting you?
FloQast solved our problem of not meeting our closing deadlines and truly reconciling all of our balance sheet accounts.
I love FQ!
What do you like best about the product?
Very user friendly, all reconciliations for all entities in one place is very helpful
What do you dislike about the product?
I don't dislike anything. Sometimes there are glitches and aren't pulling from correct cells in reconciliations, but support teams always help us remediate issues very quickly
What problems is the product solving and how is that benefiting you?
Seeing everyone's reconciliations and financial support in one place. Helps me pull it faster for external parties and doesn't require me to constantly be reaching out to owners of recs and checklist items.
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