FloQast
FloQastReviews from AWS customer
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A great close solution - flexible and powerful
What do you like best about the product?
We can easily monitor what's done and not done. FQ manages the storage of backup files and communications between the submitter and reviewer within the tool. Email alerts are also helpful for keeping on track.
What do you dislike about the product?
I actually don't have any significant dislikes. That said, I'm comparing FQ to manually created close checklists in spreadsheets, not a similar tool like Blackline.
What problems is the product solving and how is that benefiting you?
We wanted to be able to properly manage an accounting close with a team of almost 10. It's one thing to do that with 2-3 people, but as you add people, it's hard to know who's at what point in what task. FQ handles this problem beautifully.
FloQast is a great close management tool
What do you like best about the product?
I love the checklists and reconciliations as they helped me become self-sufficient in my role much faster. Instead of asking my manager what needed to be done, I could just check what tasks were assigned to me.
What do you dislike about the product?
FloQast's autorec features and bank reconciliations still lack many fundamental additions that would greatly improve the experience. In addition, the tools can be buggy at times, which can be a highly stressful experience if they break during month-end.
What problems is the product solving and how is that benefiting you?
It helps streamline the close process and that helps us close the books faster and more accurately.
FQ is a great tool to reconcile accounts and keep a tab on checklist for month end tasks.
What do you like best about the product?
The reconciliation of accounts and how easy it is to keep track of reconciled and non-reconciled accounts.
What do you dislike about the product?
it takes a little while to refresh the files and to see correct balances.
What problems is the product solving and how is that benefiting you?
one place for all recons and month end checklists.
Reconcile and manage your closing process in an easy matter but not the fastest
What do you like best about the product?
FloQast has really good support that was able to resolve most issues the same day, even on holidays
What do you dislike about the product?
The reconcile procile (refresh) can talk a long time and time out once a month with unknown errors. 20MB limit on reconciliation files
What problems is the product solving and how is that benefiting you?
It links your accounting system to a cloud-shared folder and makes the close process straight foward with individual checklists.
Amazing software to ensure reconciliations are current
What do you like best about the product?
FloQast sends out notifications every time the reconciliation goes out of balance and is a great tool to be current. It also reduces the managers hassle to check the status of the month-end process.
What do you dislike about the product?
Not too much. FloQast has new product releases pretty often, and the software is excellent.
What problems is the product solving and how is that benefiting you?
FloQast sends out notifications every time the reconciliation goes out of balance and is a great tool to be current. It also reduces the managers hassle to check the status of the month-end process.
FloQast has been great help in monitoring the balances in GL accounts and reconciling them.
What do you like best about the product?
Few things are like on-time reminders, checklists, and Auto-reconciliation.
What do you dislike about the product?
A few things which need improvement are - no mirror access option and no auto sign-off option if balances are matching.
What problems is the product solving and how is that benefiting you?
FloQast is helping us to have track of each account, it also helps in reconciling the accounts. Flux analysis helps to check the variance for each account.
Awesome tool to streamline the month end close!
What do you like best about the product?
Floqast has an excellent interface and is incredibly easy to navigate. I love the reconciliation and flux analysis tab, it has saved my team so much time during close. We record our notes directly next to each account in FQ, it's great having everything in one place!
What do you dislike about the product?
I haven't come across anything I dislike in Floqast. Floqast Remind is a bit glitchier in its interface, but overall we "set it and forget it" and haven't run into any major problems with that.
What problems is the product solving and how is that benefiting you?
Floqast helps my team stay organized and accountable. We have clear tasks and a clear timeline on when to complete them. It's helped us stay on track and anticipate delays during the close!
Solid close management tool
What do you like best about the product?
Reconciliation and flux are the two most used functionalities for my team. For example, we used to do flux analysis by manually exporting financial data into a spreadsheet. This manual approach requires updates every time when we book an adjustment. With Floqast, my team works on flux using real-time financial data. It's much easier and more efficient than the old manual and time-consuming approach.
What do you dislike about the product?
The pricing can be a little high for a mid-tier or small company. Because of the pricing, we had to pick and choose the team members we want to add to Floqast as opposed to adding the entire team to the platform.
What problems is the product solving and how is that benefiting you?
Floqast did a good job at consolidating all of our recons, together with the review and control documentation, and uploading them to a central depository. The Flux functionality is great, too. Greatly helped with team collaboration.
Quick review process for Month End Close
What do you like best about the product?
The reconcilations are tied to the Trial balance. All of the reconciliations for the period are visible and can be assigned and tracked by individual. The overall close efficiency is also tracked month over month.
What do you dislike about the product?
With our current setup using MultiView, we cannot edit the reconciliation by clicking on the link in FQ. We have to edit the document ouside of FQ in our Dropbox folder on our shared drive.
What problems is the product solving and how is that benefiting you?
FQ is making the monthly close more efficient by updating individuals when tasks are due and need corrections (reconciliations do no tie to GL). FQ also provides a platform for users to communicate comments that relate to a specific reconciliation and direct action items to designated individuals.
Easy to use and great customer support
What do you like best about the product?
Customer support is the best. I can live chat with a representative and solve problems quickly if I have any issues. As well as I like simplicity and user friendly of FloQuast
What do you dislike about the product?
Absence of consolidation feature, also I dislike a lot of unnecessary add-ins which make soft more messy and complicated, I prefer simple and straight forward approach
What problems is the product solving and how is that benefiting you?
Year-end and month-end closing is more simple than using excel, so we employ almost 100% FloQast for year-end and month-end closing. And it the most benefit of software for us
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