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FloQast is a great tool!
What do you like best about the product?
It is very east to use and has the capabilities of segregating our close process into various workflow (such as reporting, SEC, close) which allows for efficient use of our team's time during the busiest period of our month.
What do you dislike about the product?
There is really nothing I can think of at this time.
What problems is the product solving and how is that benefiting you?
Time and responsibility management is one of the main things FloQast is solving for my team.
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FloQast is an invaluable tool!
What do you like best about the product?
Real time analytics on progress of data analytics. It synchronizes with our accounting system. Very easy/clear to use (book-keepers to tech savvy controllers can manage using it). One stop shop for all support results in easier audits. Implementation was also a breeze. And last but not least, the customer support is second to none - they are AMAZING. They are always there for you (you won't need it frequently), but this team is very bright, motivated, and always willing to help.
What do you dislike about the product?
Cost - somewhat of a high barrier to entry for smaller companies but you will quickly understand the value in it.
What problems is the product solving and how is that benefiting you?
This tool is invaluable for my company where we have multiple branches. Myself and my corporate controller can monitor the progress of close, identify problem areas, follow up and offer assistance when we see that a close hasn't started, and set expectations on deliverables based on everyone's status. Having this project tool is saving us a lot of confusion and headaches, and allowing us all to work more cohesively together. Love this product so much!
FloQast has been very beneficial to our Accounting Team!
What do you like best about the product?
I love the auto matching feature and the auto amoritization feature. It makes our bank reconciliations so quick and easy!
What do you dislike about the product?
I wish that the auto matching feature for bank reconciliations could handle the large amount of checks that we issue. Sometimes it matches the wrong check to what actually cleared the bank. So we have to double check FloQast "automatching" capibilities.
What problems is the product solving and how is that benefiting you?
Our close deadline moved from 21 days to 3 day close. Having FloQast has made a 3 day close so dueable!
Floqast is great at managing your monthly close process
What do you like best about the product?
Organizes all the accounting duties of monthly close into one easy to use platform.
What do you dislike about the product?
Sort functions, by month or by person could be improved.
What problems is the product solving and how is that benefiting you?
Organizing a large remote workforce into one place to coordinate monthly close process.
Floqast Review
What do you like best about the product?
It keeps out team organized and accountable
What do you dislike about the product?
There availability to customize out instance to our individual needs
What problems is the product solving and how is that benefiting you?
managing a system of accountability and auto reconciliation
Floqast- overall a great addition to our organization
What do you like best about the product?
Floqast has helped our organization improve immensely. We have cut down close time, while improving visiblity for all team members.
What do you dislike about the product?
Dashboarding could be improved for managers that manage multiple workflows. (cross functional teams)
What problems is the product solving and how is that benefiting you?
Floqats has helped us improve our overall close time by reducing the number of days to complete our close process. We have increase visibility for both users and managers, giving us a better overall picture of team status. We utilize FQ for our external auditors, giving them direct access to our reconciliations and SOX controls.
FloQast Makes Organizing The Close Process SO MUCH Easier!
What do you like best about the product?
Prior to using FloQast, we had all of our close checklist items in Google Sheets. It was difficult to maintain and lacked a clean timeline view of when items were occurring throughout the close. Amounts were being reconciled manually from Excel to our ERP (Netsuite) and it took a lot of additional time from the team to show that this was occurring appropriately. Once we implemented FloQast, all of these problems went away! We have great visibility into when tasks and reconciliations are occurring, who is doing them, and where the bottlenecks are. The ability for FloQast to systematically ensure that the Excel reconciliations agree to our ERP and remain in balance has been a game changer for reviewers. I would recommend FloQast to anyone who is looking to streamline and optimize their close process!
What do you dislike about the product?
A feature should be added to set reconciliation signoff thresholds at the currency level (for all currencies you are using). Right now the system only allows 1 blanket amount and this is problematic if the intention is to set an USD equivalent threshold across all currencies, and certain Fx rates vary drastically from the USD (e.g. COP). I realize you can use the reconciliation upload template to set thresholds at the account level, this is burdensome though, and it would be better if you could enter a threshold amount on the backend within the admin settings in the tool.
What problems is the product solving and how is that benefiting you?
FloQast is allowing us to have better visibility into our close process and identify bottlenecks.
I use it for month end processing
What do you like best about the product?
I reveiw the timeline daily with my team. I shows our progress
What do you dislike about the product?
The process to reset my password is not automated
What problems is the product solving and how is that benefiting you?
Tracking tasks, reconcilitaions and progress of month end close
Must have month-end close software
What do you like best about the product?
FloQast is integrated with NetSuite which allows real-time feedback on all reconciliations required for our mothly close. This allows me and my team to have accurate balances and monitor any changes as they occur. The dashboard also allows me to see how my team is pacing on their checklist items and reconciliations.
What do you dislike about the product?
Since we have multiple enties, refreshing all the supporting docs is a little slower than I would like.
What problems is the product solving and how is that benefiting you?
FloQast ensures that all of my balance sheet accounts across multiple entities are monitored, reviewed and reconciled on a monthly basis. The Checklist fucntion also allows me and my team to complete all of our monthly/quarterly/yearly tasks as they should be.
Accounting Manager
What do you like best about the product?
What I like best about Floqats is it's ability to help organize and centralize our close process activities. Further, being able to analyze our KPIs in regards to our Month End Closes helps us idnentify areas of efficiency and effectiveness to further bolster our process.
What do you dislike about the product?
To be honest there is nothing I really dislike about Floqast. Evertyhing works smooth the only thing I would say is getting set up with our business sytems.
What problems is the product solving and how is that benefiting you?
Helping organize our team's repsonsiblities in the financial close and identifying areas to work and improve on.
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