FloQast
FloQastReviews from AWS customer
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FloQast is the best thing to happen for my month-end close!
What do you like best about the product?
FloQast does an incredible job of helping me keep track of just about every item on my month-end close checklist. Every GL account in every subsidiary can be reconciled through FloQast and it connects directly with my accounting software (NetSuite) so there is no need to switch between both to reconcile.
What do you dislike about the product?
There is very little I dislike about FloQast. My one main complaint can be that the updating and refreshing of accounts can take some time, but this is more a minor annoyance than an issue.
What problems is the product solving and how is that benefiting you?
The efficiency of using FloQast is directly helping us to reduce the number of days required to close each month.
Easy to use
What do you like best about the product?
Reconciliations are easy to set up and monitor. Provide peace of mind knowing if something changes, system will alert you that reconcile is now out of balance.
What do you dislike about the product?
When reconciliations change but still reconcile both preparer and reviewer need to sign off again.
What problems is the product solving and how is that benefiting you?
Tracking progress and timing of close. We know what items are open and impeding progress.
Keeps monthly close streamlined and organized
What do you like best about the product?
It allows you to streamline month end close with ease.
What do you dislike about the product?
I don't see any downsides to using FloQast.
What problems is the product solving and how is that benefiting you?
Solves any organizational challenges that come with the financial close. It also keeps you on time.
A powerful, yet flexible tool to streamline month-end.
What do you like best about the product?
FloQast has transformed our month-end process for the better. Through its workflow platform, reconciliations, and recurring tasks, I am better able to keep tabs on our progress toward close and easily identify what teammates might need additional assistance in getting their work completed. I also regularly use its analytics functions to assess the output volume of various teammates in quantifiable ways, enabling those members to be rewarded in a manner that is commensurate with their contributions.
What do you dislike about the product?
FloQast isn't as "closed loop" a system as some of its competitors, notably BlackLine. FloQast would become even more valuable if it had the ability to build out additional logic pertaining to intercompany reconciliations and other items where both "sides" of the rec live within the accounting system.
What problems is the product solving and how is that benefiting you?
FloQast has help us solve multiple business problems. First, it helped us created a highly standardized and repeatable process for month-end close across our 70+ entities. Then, we were able to identify other operational workflow which benefit from FloQast's checklist and tracking functionality. FloQast have proved remarkably useful in serving as a repository of processes that otherwise ran the risk of living only in the minds of subject matter experts. I will also say that FloQast's continued development and additional functionalities have been spot on for the sort of things that benefit our organization. It seems like every time we ask about a potential enhancement, it is already in the pipeline slated for near-future release.
FQ Review Q3 24
What do you like best about the product?
Organisation
Controls and review checklist
Reconciliations
Quarter/Year end use
Controls and review checklist
Reconciliations
Quarter/Year end use
What do you dislike about the product?
Noting to note at moment. Everything seems to work as hoped.
What problems is the product solving and how is that benefiting you?
Reconciling final numbers
Controls checklist
Accountability and audit trail
Controls checklist
Accountability and audit trail
Enhancing Transparency in Financial Closings
What do you like best about the product?
Customizable checklists and task assignments
Centralized platform for document sharing
Built-in controls and audit trails for every relevant accounting area
Automated reconciliations and reminders tothe other departments
Centralized platform for document sharing
Built-in controls and audit trails for every relevant accounting area
Automated reconciliations and reminders tothe other departments
What do you dislike about the product?
initial setup of Trial balances and might be challenging
Missing features - no flexibility for setting the message dates manually for Remindes
(ICO) reconciliation between entities is not automated yet
Missing features - no flexibility for setting the message dates manually for Remindes
(ICO) reconciliation between entities is not automated yet
What problems is the product solving and how is that benefiting you?
Automated Workflow Management - streamlines the closing process by automating repetitive tasks and ensuring nothing is overlooked
Minimizes errors and ensures adherence to requirements of the internal controllers and external auditors
Minimizes errors and ensures adherence to requirements of the internal controllers and external auditors
Great software with very helpful team
What do you like best about the product?
It's very simple to use and get to grips with. The UI is slick and it has clearly been designed with all the right things in mind. The FloQast team are quick to respond and very helpful, they understand the issues or queries you have from a financial/audit perspective and are great at taking on feedback and further enhancing the product. It quickly became a huge benefit to us rather than another task/process that takes up time.
Implementation was very straightforward, we opted to do it ourselves so that we could gradually add balances to our month end process as we got used to the system, but the team were available for any questions as and when they arose.
Implementation was very straightforward, we opted to do it ourselves so that we could gradually add balances to our month end process as we got used to the system, but the team were available for any questions as and when they arose.
What do you dislike about the product?
There is currently a small issue with the completeness report and recognising different accounting books and their balances, however again the team have been really responsive and have recognised what the issue means and they are working to provide a solution.
Other than that I can't fault it, it's been a great addition to our finance teams processes
Other than that I can't fault it, it's been a great addition to our finance teams processes
What problems is the product solving and how is that benefiting you?
Formalising month end close process and enabling us to achieve a target of reconciling every balance sheet GL code in the portfolio. We now have greater visibility over month end progress, fewer balances overlooked which we anticipate will assist a lot in our first audit post implementation. It is also great for building formalised processes for other finance functions with checklist tasks being used to closely monitor how key tasks are progressing.
Great tool to track tasks and reconciliations
What do you like best about the product?
Great tool to track tasks and reconciliations
What do you dislike about the product?
Need to work better in Auto reconciliations
What problems is the product solving and how is that benefiting you?
Track tasks and reconciliations
FloQast is quite user friendly and has a high degree of functionality
What do you like best about the product?
It has been useful tool in reconciling accounts such as bank accounts with a large number of transactions. Also, good for keeping track of spreadsheet related balance sheet recs.
What do you dislike about the product?
It would be nice if account numbers in a spreadsheet could move across to a different folder within FloQast.
What problems is the product solving and how is that benefiting you?
It is helping to save time with more automated bank reconciliations. It is also helping with the transparency of the balance sheet reconciliation and month end close process.
T Reviews FQ
What do you like best about the product?
The structure and the UI, it makes looking for things very easy.
What do you dislike about the product?
I can't say much. I woudl say the Notes feature is a little bit clunky.
What problems is the product solving and how is that benefiting you?
The problem is organize all this info and FQ aids in that process.
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