FloQast
FloQastReviews from AWS customer
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It takes away the manual to-do list (i.e. Excel) for every month-end close.
What do you like best about the product?
I like FloQast as a tool to remind me what is on my list for every month-end close. It also helps me to keep track if I am behind or if I am missing something. Also the auto reconciliation is wonderful!
What do you dislike about the product?
I don't particularly have any specific dislikes, but some pointers would be that I can sign-offs on reviewers' and sometimes FloQast is not using updated data from NetSuite for some reason.
What problems is the product solving and how is that benefiting you?
FloQast is solving manual work/effort in writing up tasks/lists for month-end close (e.g. using Excel) with just a single click for sign-offs. Moreover, we can check who signed off, at what date, and to what task.
Better and Convenient Project Management and Audit Readiness
What do you like best about the product?
Easier sign-offs procedures and tracking in FloQast for our files. I really appreciate not having to send numerous emails to chase signatures.
Reconciliation to our TB with sign-off controls.
Status summaries.
Well designed and well organized.
The implementation process was smooth.
Reconciliation to our TB with sign-off controls.
Status summaries.
Well designed and well organized.
The implementation process was smooth.
What do you dislike about the product?
Too many notifications for updates to Egnyte / documents that are outside of my area - I wish I could filter notifications.
I love the version control for files but am still apprehensive about losing a document.
Currently, we are missing automation to have a direct data feed to our ERP system.
I love the version control for files but am still apprehensive about losing a document.
Currently, we are missing automation to have a direct data feed to our ERP system.
What problems is the product solving and how is that benefiting you?
Timely sign-off, document organization for audit purposes, reconciliations review, and facilitate monthly close.
FQ Review - Recommendation
What do you like best about the product?
All close components for different members of our team are housed in one centralized place, and everyone has visibility to status of different areas and close as a whole.
What do you dislike about the product?
There is no ability to maintain a perpetual checklist for larger scale projects - while it is helpful for the month-end close, it's not helpful at all for our broader initiatives.
What problems is the product solving and how is that benefiting you?
FloQast creates efficiency and solves any communication gaps as it comes to close cadence.
Great tool to help with monthly close tasks
What do you like best about the product?
Sending automated emails to employees to remind them to complete monthly or quarterly tasks. Also, able to auto-reconcile monthly reconciliations. I am not sure about competitors.
What do you dislike about the product?
One thing that a dislike about Floqast is that you cannot have multiple tags in a reconciliation. This would help to reconcile multiple accounts in one excel workbook.
What problems is the product solving and how is that benefiting you?
The problem Floqast is solving is keeping track of the close process, reviewing notes, and approvals, and ensuring our company is on schedule to close our book on time.
FloQast's integration with NetSuite is seamless
What do you like best about the product?
FloQast helps keep my projects, responsibilities, and tasks organized daily.
What do you dislike about the product?
It's possible to experience a delay or lag in FloQast as it updates comparisons across various apps and software.
What problems is the product solving and how is that benefiting you?
FloQast organizes my projects in a logical sequence by assigning due dates to help me stay on track daily, weekly, and monthly.
Seamless end month process
What do you like best about the product?
FloQast captures all the closing procedures systematically, allowing all the closing processes to be captured. It also provides approval and sign-off for all the functions, making the end-month process seamless. Linking it to our ERP (NetSuite) ensures that the balances within NetSuite and FloQast balance provide accurate reconciliations.
What do you dislike about the product?
FloQast can be challenging to navigate for new users. However, it becomes a simple and enjoyable system once you learn how to navigate it. This is the only downside I see with FloQast.
What problems is the product solving and how is that benefiting you?
General ledger and Balance sheet reconciliations are now more accurate than before. We have met our deadlines by using FloQast as our guide. We can tie our reconciliations to NetSuite without any problems quickly.
FloQast is a strong tool that allows me to complete tasks in an organized and efficient manner
What do you like best about the product?
The inclusion of AI capabilities, specifically around variance analysis and explains has been a welcome addition.
What do you dislike about the product?
Continuing to improve the AI functionalities, while helpful, they still require a heavy amount of review and adjustment.
What problems is the product solving and how is that benefiting you?
The reconciliation process is much more streamlined and allows for more accurate and timely reviews
FloQast is a game changer for close management visibility and organization
What do you like best about the product?
FloQast has transformed management insight and IC ownership of areas they're responsible. It also is incredibly self service - we're able to make changes easily!
What do you dislike about the product?
I do wish that there were more features included in the base price vs having to pay for additional modules.
What problems is the product solving and how is that benefiting you?
Insight and visibility into the close - I am able as a manager have clear insight into where we are in the close, what's left to go and change manage reconciliations as changes are made.
Very effective tool to manage the close process and SOX compliance
What do you like best about the product?
Easy to use, Keeps us continuously updated on the status of the close and SOX controls. No spreadsheet list to keep updated and well received by auditors
What do you dislike about the product?
Nothing. Integration with SAP was complex but that is more SAP than FloQast
What problems is the product solving and how is that benefiting you?
Managing and tracking close process,
Does exactly what we need.
What do you like best about the product?
Once set up, it is simple to use and track progress of the team. Overall it is very intuitive and useful for the whole team to see exactly what they need to do and the timing of when it is expected to be completed.
What do you dislike about the product?
When a balance changes after having been signed off, it would be nice if the system would show the previously signed off balance and then the new balance so it is clear what changed. Pretty nitpicky but I don't have many complaints.
What problems is the product solving and how is that benefiting you?
Project management for the whole team - every person has a clear understanding of their tasks and responsibilities and timeline and it has helped us shorten our time to close significantly over the past year and a half.
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