FloQast
FloQastReviews from AWS customer
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Amazing Tool
What do you like best about the product?
User friendly reconcilliation tool for businesses.
What do you dislike about the product?
Minor issue with the formatting, resolved by view changes.
What problems is the product solving and how is that benefiting you?
Centralized location of close files, great checklist for close processes.
Measuring a closing process
What do you like best about the product?
I do like the fact that you can set multiple flows in the app, to monitore the monthle closing of your organization. In addition, you have everything that you need to show the existance of intenal controls in a single tools. Which help you in the wholw audit process, even if that refering to intenal or external ussers.
What do you dislike about the product?
I dislike the fact that there is no way from the app to join in a combinated view the analis from the diferent flows. This limits the view that users like the Controller or the Financial oficers, can have in organization that has multiple segments o rflows.
What problems is the product solving and how is that benefiting you?
Measuring the results, and identify parts of the flow that need to be improved.
Floqast: Simple & Effective
What do you like best about the product?
FloQast is extremely easy and simple to use; while being highly effective. The checklist and reconciliation tools have been a game changer for moving forward our close, in terms of team collaboration, automation of the responsibilities, and holding each other accountable to move through the close process. The variance analysis has also helped tremendously in pulling our accounting function out of just reconciling and into understanding; and the FQ variance analysis reports automatically update each month which means there is no admin work to build monthly. FQ is extremely reliable and never ever has admin issues. It is easy to use and you can learn to become an expert in hours.
What do you dislike about the product?
Licensing is expensive and adding more users means potentially significant incremental costs. The checklist, reconciliation and variance analysis are fairly straight forward and despite how reliable and effective these tools are, the cost feels high.
What problems is the product solving and how is that benefiting you?
Automating roll forward of the checklist and variance analysis. Holding individuals accountable. Completeness and accuracy of steps and reconciled accounts globally.
1 year using FloQast!
What do you like best about the product?
FloQast has been very helpful for organization. Prior to implementing, all of our checklists and reconciliations were in spreadsheets that were sometimes messy or overlooked. FloQast has helped us to be more aware of close deadlines, keeping our files and reconciliations in an easy to find location, and knowing what things we need to improve on. It also helps us better document and be aware of account balances period to period to help prepare for a smoother audit. When we have questions, their support team is quick to respond. When we have provided product feedback, their team members have provided solutions or taken notes to provide to the prduct team for consideration.
What do you dislike about the product?
One main thing that we've mentioned to our FQ Accounting Success Manager is that we'd like to see our checklist and associated reconciliations connected to each other for easier visibility/reminders to complete.
What problems is the product solving and how is that benefiting you?
Seeing clearer due dates, assignments, and reconciliations. This is helping us have a more efficient and transparent close, as well as being more aware of account balances period to period.
Financial Analyst
What do you like best about the product?
I like that I can easily filter my open reconciliations and track my progress for month end close. I like that it's so easy to add my backup in FloQast. A big plus is that I get notified right away if one of my previously signoff reconciliations is out of balance. I give their customer service a gold star. They are very prompt to reply to my emails and follow up after my issue has been resolved.
What do you dislike about the product?
I dislike that sometimes after I upload a new trial balance or change something in a reconciliation, I have to refresh more than once to get the changes to reflect in FloQast.
What problems is the product solving and how is that benefiting you?
Floqast helps with checking the progress of close. It gives me an idea if we are on track to close on time.
Monthly Close Collaboration Streamlined Thanks to FloQast
What do you like best about the product?
The Checklist view helps our team align on the current staus of Close
What do you dislike about the product?
Flux Analysis threshold is set to the account level and not the Financial Statement Line Item level
What problems is the product solving and how is that benefiting you?
Monthly Close, Reconciliations, and Flux Analysis
FloQast has some of the best customer service I have ever experienced
What do you like best about the product?
FloQast has built a robust close management system that is able to handle all of our regularlly occurring needs as a finance team. It has been easy to integrate with our existing systems and the support team has made implementation simple.
What do you dislike about the product?
You get what you get. I commonly run into areas that could be improved or where greater customization would be helpful. But the success managers are very responsive to helping us with roadblocks.
What problems is the product solving and how is that benefiting you?
Organization and standardization of tasks and responsibilities across a variety of global finance teams.
FloQast Product Review
What do you like best about the product?
FloQast is easy and intuitive to use and has been key in cleaning up our month end close process. I love all the new product features and development. The new API has unlocked a lot of potential of integrating our close process into our workflow and data analysis software stack.
What do you dislike about the product?
There is really nothing negative about floqast. As a nonprofit, it would be nice to have the ability to reconcile on multiple levels of GL segments versus just the account. For example: department, program, restriction class, grant code, etc. It would also be nice to have some kind of Excel connector with FloQast and our ERP to automate pulling in transactional data.
What problems is the product solving and how is that benefiting you?
Month end close
FloQast has helped our group organize and shorten our close process.
What do you like best about the product?
Quarterly check ins by the account manager have helped clear up any issues as well as keep the team informed about new or upcoming features.
What do you dislike about the product?
Would appreciate the ability to restrict user access by folder/reconciliation.
What problems is the product solving and how is that benefiting you?
FloQast centralized our document storage and created a seemless way to hold everyone accountable. The transparency between different users/groups has led to a shortening of our close timeline since implementation.
sometimes i find that floqast plays up
What do you like best about the product?
I like that it updates you on the progress of the rec
What do you dislike about the product?
It can play up sometimes and can be frustrating
What problems is the product solving and how is that benefiting you?
I find that sometimes it plays up can be slow.
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