FloQast
FloQastReviews from AWS customer
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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.
Floqast for your close
What do you like best about the product?
Floqast UI is fairly intuitive. We've been able to customize fluxes in ways we were not able to do in other tools. Audit evidence is clean for review.
What do you dislike about the product?
Floqast is fairly rules based, for example matching tool has to be setup very specifically, not easy to just take your business today and create rules around memos or using AI to determine and remember matches. It also lacks functionality to help us automate, though we are working with them to make this better and we hope to see results.
What problems is the product solving and how is that benefiting you?
Theyre looking into AI though we are yet to see any releases and if they will provide benefits or not.
Extremely positive
What do you like best about the product?
FloQast is easy to implement. The application is very intuitive. After doing the trainings it is easy to navigate and get to work right away in the application.
What do you dislike about the product?
The only thing I dislike is the amount of email notifications from the system. Even customizing the notifications is an all or nothing based on the selections.
What problems is the product solving and how is that benefiting you?
It's centralizing all of our close processes into one tool and providing real time visibility to reconciliation and non-reconciliation processes.
Excellent onboarding and follow through and post live support!
What do you like best about the product?
The dashboard makes it easy to see what is still incomplete.
What do you dislike about the product?
I would like to see the dashboard separate review vs complete items or provide a filter.
What problems is the product solving and how is that benefiting you?
Saving time on reconciliations and to do lists as well as decreasing number of emails related to close.
Simplification and strengthening our processes
What do you like best about the product?
Floqast is a simple to use system which can effectivley consolidate information make it easy to use and readily avilable for auditors. The Floqast team are responsive and read to help and also provide solutions to any additional features and proposals our team may have. Implementation was a positive expierence.
What do you dislike about the product?
I cannot think of any significant downsides of Floqast!
What problems is the product solving and how is that benefiting you?
Visubility of task completion tracking our KPI's and deaslines as well as automating tasks. Floqast is the main system for backup for our annual audit. It also ensures ease of reallocation of tasks during annual leave or role changes.
Great resource for your month end close!
What do you like best about the product?
This is a great tool that allows us to monitor our progress during the month end close and to help employees stay on track and stay accountable to what tasks they are assigned.
What do you dislike about the product?
I dont like that the dashboard currently shows a member as past due or late for the entire day or for all tasks due that day as opposed to just the one or two items they might actually be behind on.
What problems is the product solving and how is that benefiting you?
FloQast is allowing us to stay organized and efficient and keeping team members accountable. This in turn allows us to close the month a bit earlier than before and cut down on the number of days of the close.
FLoQast is a great management tool for our team!
What do you like best about the product?
The ability to make notes on each task and sign off to record when each person completed their taks in that project
What do you dislike about the product?
It would be great to add calendar reminders to the tasks assigned to me becuase the emails sometimes get lost in spam
What problems is the product solving and how is that benefiting you?
FloQast helps our team stay on top of deadlines and communicate status
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