FloQast
FloQastReviews from AWS customer
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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.
Great close management tool for companies of all sizes
What do you like best about the product?
My favorite part of FloQast is the reconciliation module. Having reconciliations automatically feed into FQ and show any reconciling items is extremely helpful. The checklist is great as well but can be a bit tricky to get set up with proper due dates. We also use the Flux analysis and ReMind features every month which are great.
What do you dislike about the product?
There are some difficulties with managing data links with ERPs, but nothing that can't be resolved. I do wish there was an easier way to lock down recons once completed but I think that's more on the OneDrive side.
What problems is the product solving and how is that benefiting you?
Replacing error-prone excel based checklists gives us better audit evidence and having all our recons in a tool that can quickly be reviewed for completeness and accuracy (existence of non-reconciled differences) is a huge help.
Sometimes hard or difficult to navigate
What do you like best about the product?
The update feature, that allows you to sync with ledger accounts
What do you dislike about the product?
There is no way to verify where the balances are coming from
What problems is the product solving and how is that benefiting you?
reconciling accounts with greater ease
Simplify the Close Process
What do you like best about the product?
FloQast is most helpful for simplifying the close process. It allows the accounting leaders to have visibility over the tasks required to complete the close. It also allows for preparer and reviewer signoff, as well as review comments. Files can be attached to the system which allows for easier review by managers and auditors. Our company puts internal or external audit request lists into FloQast allowing for accountability, visibility, organization and fewer back and forth with the auditors. Additionally, open items need to be resolved before a period can be rolled forward ensuring all loose ends get resolved each month.
What do you dislike about the product?
There are a few parts of FloQast that I don't utilize: such as Analytics, Flux Analytics, Reconciliation Matching and the ReMind function. Would like to investigate these capabilities, however, these are functionalities that our company currently does not utilize.
What problems is the product solving and how is that benefiting you?
One item that FloQast helped improve was the auditor request lists. We used to have an accounting manager coordinate the PBC list and have weekly meetings with the auditors. Now that the PBC list has been downloaded into FloQast this allows the auditors to pull audit support with far fewer back-and-forth e-mails. FloQast also helps us centralize our Sox and internal control responsibilities so we can have visibility and proper assignment of these items to ensure adequate accountability and completion.
FloQast has been an effective tool for month-end tasks management.
What do you like best about the product?
it enabes you to leave comments and to collaborate with colleagues.
What do you dislike about the product?
sometimes, the anchor function to link the working paper is not update real time.
What problems is the product solving and how is that benefiting you?
Get to know the status of the total month close processes. It helps me to identify any roadblocks and remove them effectively.
Floqast has changed a lot for us! We couldn't live without it now.
What do you like best about the product?
The transparency to our leaders & board.
What do you dislike about the product?
I wish we could have sections for checklist for departmental separations instead of sorting/filtering through keywords to separate the list.
What problems is the product solving and how is that benefiting you?
Helps my superiors see what I do on a monthly/weekly basis, shows, in writing, the work load we each have monthly, and organizes our books for the audit.
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