FloQast
FloQastReviews from AWS customer
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Floqast
What do you like best about the product?
The ability to organize and maintain checklist for daily/monthly/annual tasks
What do you dislike about the product?
There are too many extra things built in that are provided but not currently being utilized, this can affect the billing.
What problems is the product solving and how is that benefiting you?
organize our closing checklist and maintianing our accounting recs
FloQast reconciliation and flux variance review
What do you like best about the product?
It syncs with NetSuite in real time. Streamline the reconciliation and flux variance process
What do you dislike about the product?
The upload template format always a challenge
What problems is the product solving and how is that benefiting you?
It removes the manual reconciliation and flux variance process
Great Product, Great Support
What do you like best about the product?
The team that has been assigned to us has been so helpful in each part of the process. From implementation to expanded services every step has been incredibly easy. Stepping into using FloQast is incredibly simple and we have put all of our repetitous and project tasks on this platform. We use this every single day.
What do you dislike about the product?
I love everything about FloQast. There is really nothing negative to say about it.
What problems is the product solving and how is that benefiting you?
FloQast was really important for making all of our processes uniform around close and having a central place to find our closing documents.
Additional time needed to maintain in FQ
What do you like best about the product?
Live data refresh directly from accounting system
What do you dislike about the product?
Amortization and depreciation not having new additionsl directly fed, unlike autorec. Commentaries under variance analysis module only in plain text form, does not support screnshots/attachments where helpful since our team uses the report for presentation purposes.
What problems is the product solving and how is that benefiting you?
Checking for completeness of tasks and reconciliations. Before this, we had tracked everything on Excel.
Great Platform
What do you like best about the product?
Ensure accountability. Easier to review and manage financial close.
What do you dislike about the product?
Certain functions could be enhanced such as for auto completeness checking for new accounts
What problems is the product solving and how is that benefiting you?
Ensure proper documentation and assurance of being reviewed. Easier to track for global accounting with multiple subsidiaries.
FloQast has streamlined our Monthend Close
What do you like best about the product?
FloQast has so many great features, one of my favorite features is the workflow status where you can see % completion of reconciliations prepared, % completion of reconciliations signed off and whats overdue. It allows management to quickly see whats overdue and track the whole teams performance easily
What do you dislike about the product?
I havent encountered an issues with FloQast so far
What problems is the product solving and how is that benefiting you?
Floqast has helped us to reduce the number of days we are spending on MEC each period end. The way balances in Sage auto-sync with FloQast means we can always keep on top of our reconciliations. If a balance changes after a reconciliation has been signed off, both the preparer and reviewer of that reconciliation will receive a notification from FloQast letting them now that the reconciliation is now out of balance. It has also helped speed up the approval process whereby approvers can now click a link in FloQast and this will automatically take them to the supporting workpaper behind the reconciliation.
Great product, good service
What do you like best about the product?
Easy to keep track of close dates and close statuses. Custom tasks on the checklist make tracking workflows very easy and task analytics are great. Customer service is always promt and great at providing a solution.
What do you dislike about the product?
While there plenty of good online training options a few more/more detailed options would be nice. Also attachment file sizes are capped, which can cause issues sometimes
What problems is the product solving and how is that benefiting you?
Our old service wasnt doing what we needed and FloQast fit into our needs perfectly
A brilliant system you can tell is written by accountants
What do you like best about the product?
I think the system is a great tracking tool for completing an accurate set of accounts. The ability to have teams prompts when reconciliations go out of balance, and the ability to add all working documents to the system is great. It makes tracking the completion of the accounts file much quicker, and gives the ability to track and monitor colleagues areas of responsibility. I can add notes and assign them to particular employees, and be notified when they resolve these. The reduction in printing and all cost savings will be vast, not to mention the improved environmental impact of saving paper.
What do you dislike about the product?
At this time I haven't come accross anything that I would particularly say I dislike about the system.
What problems is the product solving and how is that benefiting you?
Moving from paper based to electronic. Most of our work was already saved electronically but for the purpost of an accounts file was still paperbased. Now the file is on Flowast, all documents are saved and able to be viewed quickly and easily.
Easy to use
What do you like best about the product?
FQ was introduced 3 months ago in our company, very easy to learn. We use FQ for monthly reconciliation with multiple files, that we can store directly on one drive. I appreciate clear interface and the comment feature improving preparer-reviewer communication.
What do you dislike about the product?
The default amount of notifications is flooding my inbox, I am yet to find out if these can be somehow filtered.
What problems is the product solving and how is that benefiting you?
Reconciliation is now taking less time than before, comments are useful for providing tips and immediate feedback.
Lack of vision and strategy makes me cautious
What do you like best about the product?
Easy to implement and fits with current processes. Customer support is responsive and helpful. Sales team was great working with during onboarding.
What do you dislike about the product?
FloQast was strong when they were the only other option from Blackline. Over the past couple of years they've seemed to focus on creating new SKUs to get more money from customers without adding a lot of value to their core product. This has allowed other companies like Numeric to pass them in functionality including how they're incorporating AI. Hopefully things can turnaround for FloQast.
What problems is the product solving and how is that benefiting you?
Helped us focus on getting recons done as part of the close process. Better format for the close checklist rather than excel how we were previously tracking close.
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