FloQast
FloQastReviews from AWS customer
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Great Product for Automating the Accounting Close
What do you like best about the product?
The automation of the FloQast tool is excellent. It provides the accounting team with easy insights into what is completed and what still needs to be worked on and wrapped up each month and quarter end in terms of monthly and quarterly steps and reconciliations. FloQast allows you to create requests with frequencies that might not be available in other software, such as non-recurring, weekly, bi-weekly, annually, and specific months.
What do you dislike about the product?
There is very little to dislike about FloQast from the perspective of a Senior Accountant, as the tool shows me everything that needs to be done each day of the close timeline and helps to keep things on track. I would say the only downside is that it requires buy-in from all involved parties (e.g. FP&A, Operations, etc.) to make the tool worthwhile, and on occasion, this buy-in can take some time to achieve. However, when the groups outside of accounting see how useful the tracking of requests and daily tasks can be with FloQast, the buy-in usually comes along quickly.
What problems is the product solving and how is that benefiting you?
FloQast is helping my company speed up the closing process and ensure everyone is on time with their deliverables and monthly/quarterly checklist items and reconciliations. It has and will continue to trim the days to close. FloQast also enables managers and above to track the progress of their team(s) to ensure no one is falling behind on their deliverables and direct any assistance to those who may be a day or two behind on their work during a close period.
FQ User
What do you like best about the product?
The ability to see all account changes by linking it directly to your accounting system provides high-level review automation. It provides visibility, especially to reviewers, if anything changes post review. For preparers, the understand of timelines helps manage workflows.
What do you dislike about the product?
I wish the FQ reminders continued to remind the user if a task was more than one day. Currently, if a task is due Day 2 the user only gets a notification on Day 3. Additionally, there is a cool feature called FloQast Remind, which sends a person in the company an email requesting infromation. However, after the initial request, the emails are sent to the requestee daily but include vague language, such as please provide a requested item.
What problems is the product solving and how is that benefiting you?
It provides team members a wholistic way to view all of the tasks assigned to them with due date, providing better delegation and workflow management.
Easy to use system with exceptional service from FQ team.
What do you like best about the product?
FQ is intuitive and easy to use, and the reconciliation features ensure all recs are completed for an efficient month-end close.
What do you dislike about the product?
Some functionality is limited if looking to use checklists for processes other than month-end close.
What problems is the product solving and how is that benefiting you?
FQ keeps our accounting team on track at month-end and ensures no tasks are missed. It is easy to add new ad-hoc tasks and have recurring tasks.
FloQast has been incredible for our business.
What do you like best about the product?
FloQast is everything we need to manage our close process. It's simple, intuitive, affordable, and straightforward.
What do you dislike about the product?
The Excel-based model can be difficult to set up when utilizing One Drive.
What problems is the product solving and how is that benefiting you?
The close checklist feature is probably my favorite. It allows us to automate the close process, assign tasks to different users, and add/subtract/change on a monthly basis if needed.
Fantastic experience, great Customer support, a little light on Features
What do you like best about the product?
FQ makes coordinating close incredibly easy! Also team has good Customer Service.
What do you dislike about the product?
Would love to see some deeper features built in and some quality-of-life improvements. For example, I'd love to see a deeper integration with ERPs allowing things like JE's to account for reconciliing balances to be automatically posted back in to the ERP. In addition, things like mass changes for Flux responsibilities would be helpful.
What problems is the product solving and how is that benefiting you?
Managing close and keeping business and accounting partners aligned.
Best Task Master EVER!
What do you like best about the product?
I didn't know that a solution existed to not only keep me on track but the whole team as well.
What do you dislike about the product?
I wish my boss only got emails when something is ready to be reviewed. If a team member is late he gets an email and he logs in and sees nothing to review, so he quits logging in. Ideally we'll get to the point where we're 100% on time and it won't be an issue, but right now in the initial phases it's problematic.
What problems is the product solving and how is that benefiting you?
When I first came to our company there was no close process documented. This lead to steps being missed and re-work having to be completed. We have come a long way in improving the close process. While we aren't fully where we want to be yet, we know we can get there with the assistance of the FloQast program. It's been a game changer!
FlightAware uses this tool for just about everything
What do you like best about the product?
Month end close checklist and due date notifications
What do you dislike about the product?
I do not like how you assign dues dates, the +/- and the calendar selections are limited
What problems is the product solving and how is that benefiting you?
time management and accuracy. We use the tool for annual reminders for certain requirements like taxes, audits, so we're always on top of them.
Useful tool for tracking close process
What do you like best about the product?
It's a very simple way to see where we are in the close process to manage what work is being done.
What do you dislike about the product?
Changing due dates can be a little clunky from time to time.
What problems is the product solving and how is that benefiting you?
It helps manage the close process and see what items need to be completed and who is currently working on them.
Close Gamechanger!
What do you like best about the product?
Floqast is so user friendly and easy for our team to use. It helps us to track our close processes and has enabled us to streamline a number of processes, while also giving us strong controls. Outside of the checklist, our team especially loves the reconciliation functionality, which alerts the preparer/reviewer immediately when a rec goes out of balance. We also love using the flux analysis functionality.
What do you dislike about the product?
There are very few things that our team dislikes about Floqast. Any issues or improvements that we've encountered and raised to our Floqast rep in the past have been taken back to the development team, and we've even seen actions taken on some of our feedback. The support team is fantastic and is always willing to take suggestions.
What problems is the product solving and how is that benefiting you?
Floqast is solving a number of close problems for us: Visibility, real-time updates on reconciliations, accountability, meaningful controls for the Period End Financial Reporting process, "Remind Me" emails scheduled for vendor estimates/statements - the list goes on and on. We have been able to close faster and more efficiently using FQ.
FloQast Improves Workload Visibility
What do you like best about the product?
Our team has seen the improvements in tracking team member workload, in addition to streamlining review notes and tracking the status of our closes for multiple entities at one time.
What do you dislike about the product?
You do not have the ability to customize fields. A few examples of areas that we have had to develop workarounds are determining the time of day that an item is due, or adding additional descriptions outside of the task title.
What problems is the product solving and how is that benefiting you?
Our team members are able to start working in a hybrid environment as we have the ability to collaborate in one central location. We also are able to improve our time to close based on the close analytics function.
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