FloQast
FloQastReviews from AWS customer
0 AWS reviews
-
5 star0
-
4 star0
-
3 star0
-
2 star0
-
1 star0
External reviews
1,385 reviews
from
External reviews are not included in the AWS star rating for the product.
Outstanding Close Management Platform
What do you like best about the product?
Simplicity - FloQast is very straightforward and leverages our excel workbooks
What do you dislike about the product?
One potential improvement we'd like to see added in the future is a dependency feature.
What problems is the product solving and how is that benefiting you?
FloQast helps us manage our close process to make sure no steps are missed, ensure that reviews take place, and that our G/L accounts reconcile to our workbooks.
FloQast is a game changer
What do you like best about the product?
FloQast is more than a tool to manage reconciliations. Positioned correctly in your finance function, it is a command and control tool.
I have used FloQast at the centre of a finance transformation of a basketcase. In a period of a few months it has assisted with supporting a redistribution of responsibilities amongst the team, improve month-end management, reduced days to report, with a significant improvement in the accuracy and completeness of our workpapers and results.
I have used FloQast at the centre of a finance transformation of a basketcase. In a period of a few months it has assisted with supporting a redistribution of responsibilities amongst the team, improve month-end management, reduced days to report, with a significant improvement in the accuracy and completeness of our workpapers and results.
What do you dislike about the product?
They do not use a test database so it is important to understand your target design or when you understand the full potential of the platform, it may lead to rework.
What problems is the product solving and how is that benefiting you?
Financial close practices, an extensive range of deliverables for reporting to management, board, shareholder and financiers, plus quarterly dividends, debt payments for each asset in our portfolio. Its checklist functionality has enabled me as CFO to be able to monitor the state of all key milestones in a complex business on a monthly, quarterly and annual basis in a manner that was very difficult in an excel environment.
There are other products that do the month-end reconciliation function well, but no others that also combine task, responsibility and deliverable monitoring in a manner designed for a CFO / Finance leader.
There are other products that do the month-end reconciliation function well, but no others that also combine task, responsibility and deliverable monitoring in a manner designed for a CFO / Finance leader.
Excellent tool with amazing features
What do you like best about the product?
I like that all of our reconciliations are in one shared folder! Previously, we had them saved all over the drive and it is also helpful within floqast you can click a link and a google sheet verison of the rec is available at all times. The checklist and sign off features are great too. This helps us keep up with what tasks are still pending and the timining of the sign offs to let us know if we need to adjust our checklist.
What do you dislike about the product?
With Floqast AutoRec feature there are some limitations. I have noticed that it has a hard time matching items that aren't 1:1 as far as amounts so if on the debit side there were 3 items that made up 1 item on the credit side, it's doesn't function as well as I would like since we have many of these cases with our Revenue.
What problems is the product solving and how is that benefiting you?
Organization, compliance, timeliness, more efficient processes.
Accounting Manager with Reconciliation, Checklist, Variance Analysis, Reporting & Compliance modules
What do you like best about the product?
The direct integration with our NetSuite ERP and the ability to refresh our balances on an ad-hoc basis is great. We often have last minute adjustments, so to be able to update our Reconciliations or Variance Analysis as soon as those are posted in NetSuite helps us. Other systems only refresh on a periodic schedule, so it's nice not to have to wait for that to occur to update our records.
Setting up new rec's/checklist items is easy and the process is very intuitive which helps when we have employee turnover or changes in roles. Being able to set checklist items at varying frequencies is great, since we have tasks that are performed daily/weekly/bi-weekly/monthly etc.
Setting up new rec's/checklist items is easy and the process is very intuitive which helps when we have employee turnover or changes in roles. Being able to set checklist items at varying frequencies is great, since we have tasks that are performed daily/weekly/bi-weekly/monthly etc.
What do you dislike about the product?
The biggest downside is the files being stored as Google Sheets, rather than MS Excel. Many of our schedules are built is MS Excel using functionality that Google Sheets does not have, or is not great with maintaining, i/e linking between documents, pivot tables and complex formulas. If a file is opened directly from Floqast it opens as a Google Sheet, corrupts the file and automatically saving it, creating the potential for losing hours of work since the files have to be re-created
What problems is the product solving and how is that benefiting you?
Ensuring all account reconciliations are completed each period that we require by having everything in a single repository, rather than having to manually compare our financial statements to files stored in a shared folder.
FQ provides what we exepected
What do you like best about the product?
- FQ provides what we exepected
- user friendly
- can selfseve
- great, personal support when required
- user friendly
- can selfseve
- great, personal support when required
What do you dislike about the product?
- sometimes takes longer to update balanxces with big size support file
- MoM variance analyses - would be useful to see prior month commentry
- P&L account grouping can be done only via upload file instead directly in FQ
- MoM variance analyses - would be useful to see prior month commentry
- P&L account grouping can be done only via upload file instead directly in FQ
What problems is the product solving and how is that benefiting you?
Easy to follow on Month end tasks, progress, reconciliations, completnes and managing support files
FloQast is a useful tool that helps me stay on top of my tasks
What do you like best about the product?
FloQast helps me stay on top of my tasks through the Checklist and email notifications of my upcoming tasks.
What do you dislike about the product?
I wish FloQast would cover a broader set of accounting functions. I work in financial reporting so my use of FloQat is limited to the monthly close process. I do not use FloQast for any of my financial reporting needs (such as consolidation and financial report generation) and I use other tools for that instead.
It would've been nice to have everything in one place under FloQast (both monthly close and financial reporting features).
It would've been nice to have everything in one place under FloQast (both monthly close and financial reporting features).
What problems is the product solving and how is that benefiting you?
FloQast helps reduce the tediousness of the close by having everything in one place (close, recoconciliation, variance analysis).
We've also been able to use FloQast signoffs as audit evidence, which is great and is easy to pull when asked. The signoffs identify the preparer and the reviewer as well as the signoff date, which is something our auditors want to see.
We've also been able to use FloQast signoffs as audit evidence, which is great and is easy to pull when asked. The signoffs identify the preparer and the reviewer as well as the signoff date, which is something our auditors want to see.
FQ Review
What do you like best about the product?
I like the user friendly checklist and documentation tools. It makes the close process easily repeated and scalable.
What do you dislike about the product?
I think the implemtation process could use a bit of refinement. Maybe using a standard template instead of trying to merge current documentaiton with desired outcome.
What problems is the product solving and how is that benefiting you?
It improved sommunication and documentation of close procedures much easier and streamlined.
FloQast
What do you like best about the product?
We chose FloQast (FQ) over alternative solutions primarily to ensure and improve upon our 1) SOX compliance (Evidencing controls, Reconciliations and Variance Analysis (Flux)) and 2) month end close efficiency.
Easy to use - good user interface and user experience
Smooth implementation - we had great support from FQ team through implementation (and from CFGI as their preferred implementation partner), and ongoing customer support as we use and improve the use of FQ.
The integration with Oracle R12 took thought, time and effort to set up, but has worked very well since implentation. Other cloud ERP systems should more easily integrate.
Easy to use - good user interface and user experience
Smooth implementation - we had great support from FQ team through implementation (and from CFGI as their preferred implementation partner), and ongoing customer support as we use and improve the use of FQ.
The integration with Oracle R12 took thought, time and effort to set up, but has worked very well since implentation. Other cloud ERP systems should more easily integrate.
What do you dislike about the product?
The Variance Analysis tool could be improved further. FQ do continue to improve the tool, and appears to be listening to customer feedback.
What problems is the product solving and how is that benefiting you?
We chose FloQast (FQ) over alternative solutions primarily to ensure and improve upon our 1) SOX compliance (Evidencing controls, Reconciliations and Variance Analysis (Flux)) and 2) month end close efficiency.
Active User & Admin
What do you like best about the product?
We use FQ for monthly close management (checklist/recon tracking) and variance analysis. I enjoy how easy it is to modify as our needs change as a growth company. Their customer support team meets with us quarterly and is 100% willing to help when I can't figure out how to do something. Love their free CPE!! CPE is not only focused on their product but on accounting world in general! I think this speaks volumns to their "by accountants for accountants" pitch!
What do you dislike about the product?
We don't use a lot of there other offerings and sometimes it gets a little sales pitchy...I 100% get that this is their job. I will take this as part of our quarterly meetings as the live attention/focus is nice.
I did give a few suggestions to our CSM on their auto reconcilation amortization function as I found Excel to be easier in my use case. (I have not tested this function in 6+ months).
I did give a few suggestions to our CSM on their auto reconcilation amortization function as I found Excel to be easier in my use case. (I have not tested this function in 6+ months).
What problems is the product solving and how is that benefiting you?
Tracking/Controls/Sign Offs
Best Decision
What do you like best about the product?
Ease of implementation and use. Ability to add numerous subsidiaries. Ability to copy checklist tasks easily or update assignments. Easy to download reports for auditors and SOX compliance.
What do you dislike about the product?
Wow, that is a hard one. FloQast recently removed the function to make favorite subsidiaries in the viewing sort.
What problems is the product solving and how is that benefiting you?
Allows team members around the globe a central and easy way to see what they are assigned, due dates, what is completed and what is open.
showing 291 - 300