FloQast
FloQastReviews from AWS customer
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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
Easy automation of the close process
What do you like best about the product?
The ability to organize and document all work papers.
What do you dislike about the product?
It's sometimes difficult to find settings such as team settings, trial balance completeness check etc
What problems is the product solving and how is that benefiting you?
Documenting and organizing the close process
Great product!
What do you like best about the product?
The most helpful feature is having all tasks and reconciliations in one place to sign off on. It helps not to miss something during a month-end or quarter-end close. It also allows us to have a more accurate status tracker each month.
What do you dislike about the product?
I don't have any real complaints - the system works pretty well.
What problems is the product solving and how is that benefiting you?
Floqast is helping us keep adequate SOX controls and allowing us to stay on track with all tasks needed on a monthly basis. Knowing what is due and what is upcoming is a great help for both managers and staff. It is also great for understanding where we are in the close process and what is left to get done.
Floqast makes the close process more managable and pulls everything onto one user friendly platform.
What do you like best about the product?
I like that Floqast has many different ways to view the data within the system, which allows you to filter to your specific needs. I also like that you can link documents to multiple account numbers, which makes completing monthly recons much easier.
What do you dislike about the product?
To many notifications for current month recons. Each time an account balance changes we receive notification. Is there a way to group these notifications together and allow the user to specify how often they want to receive them?
What problems is the product solving and how is that benefiting you?
Providing more insight to all users of the close process in one centralized system. This has allowed us to identify bottlenecks and make changes as needed. It also reduces the time spent pulling support for our auditors.
We have been using FloQast for just over a year now - a rec that took 16 hrs now takes 5
What do you like best about the product?
I really like the matching feature of FloQast - it helps to simplify what I have to do manually.
What do you dislike about the product?
For a few things, I'm still waiting on the AI to fully kick in
What problems is the product solving and how is that benefiting you?
FloQast is helping to get the reconciliations done quicker so we have more time to review.
Know what I need before I do
What do you like best about the product?
I love that FQ is always proactivly creating new helpful tools to help me with my processes.
What do you dislike about the product?
I would like to see the lists displayed in different format options. Somtimes the items are roo big.
What problems is the product solving and how is that benefiting you?
Helping not only with close but also other non-month end processes.
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