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FQ is user friendly, Excel friendly and has a massive storage unit. Suited for all Accounting use.
What do you like best about the product?
The matching aspect is the best, it saves time.
What do you dislike about the product?
The hiccups in the portal, especially during EOM
What problems is the product solving and how is that benefiting you?
Bank recs, central communication tool, info saver etc.
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Would be killer app except for.....
What do you like best about the product?
The close analytics and the usage of the tool as a control mechanism which makes the auditors happy.
What do you dislike about the product?
The Flux functionality needs improvement. Customizing the layout requires helpdesk intervention and is contrained in certain aspects. Rather than just showing two columns, it should have have at least 6 so that the accounting team can view the trends for all accounts over the trailing 6 months. Explaining Flux between consecutive months or quarters (i.e. two columns) is fine but requires the professional to toggle back and forth between NS to include trend (and run rates) in the analytics discussion.
What problems is the product solving and how is that benefiting you?
Shortening the close by identifying the bottlenecks.
Recommendations to others considering the product:
Request that Flux be more robust!
Overall good
What do you like best about the product?
1. Automatic roll forward of supporting documents
2. Completeness check
3. Integration with NS
4. Folder/ organisation features
5. Reconciliations with supporting documents all in one place
6. Can filter by due today, late, unreconciled or ready for review. Very thoughtful
2. Completeness check
3. Integration with NS
4. Folder/ organisation features
5. Reconciliations with supporting documents all in one place
6. Can filter by due today, late, unreconciled or ready for review. Very thoughtful
What do you dislike about the product?
1. Sometimes slow, especially during month-end when multiple users are working simultaneously
2. Constant reminders in the form of emails - especially when there are a lot of accounts and if accounts go out of balance
3. The integration with slack could be slightly more fine-tuned
2. Constant reminders in the form of emails - especially when there are a lot of accounts and if accounts go out of balance
3. The integration with slack could be slightly more fine-tuned
What problems is the product solving and how is that benefiting you?
1. Helps drive close tasks in a more focused and guided manner
2. Able to keep all related communication, docs and signs off in one place
3. Can use analytics to help identify issues
2. Able to keep all related communication, docs and signs off in one place
3. Can use analytics to help identify issues
Great Analytical Tool!
What do you like best about the product?
It is an overall very useful and practical tool. I like using it for our monthly closes and especially the analytics that we perform monthly, quarterly, and anually.
What do you dislike about the product?
Nothing in particular. Would love more frequent updates and addition to the platform.
What problems is the product solving and how is that benefiting you?
We are easily able to perfom flux analysis with Floqast. We can easily monitor and track our monthly closes to be able to find bottlenecks and whatnot.
FloQast is a great tool to track close tasks and progress, even has a built in Flux analysis module!
What do you like best about the product?
I like how FloQast can pull GL data and reconciliation file data to automatically show whether or not accounts are in balance. Once an account is in balance FloQast offers a simple "completed" button to mark the account as reconciled - presto one item off the list!
What do you dislike about the product?
Often when we have made journal entries and want to check if balances now reconcile between the GL and our rec file in FloQast, we have to wait 10+ seconds for the reconciliation module to refresh, the same happens for the Flux analysis module. Sounds silly, but anytime something takes more than 10+ seconds in today's day and age it can feel a bit annoying to wait for. Fairly minor complaint though, overall I really like FloQast!
What problems is the product solving and how is that benefiting you?
More easily keeping track of monthly close tasks and far easier way to track team progress.
Month end close
What do you like best about the product?
I like the functions of Reconciliations the most
What do you dislike about the product?
The sync could be faster, and faster will be better
What problems is the product solving and how is that benefiting you?
When I get distracted from other stuff, it is easy to pick up from where I left
Easy to use with great support team!
What do you like best about the product?
The customer success team is outstanding.
What do you dislike about the product?
There are new features on the way, which we are patiently waiting to access and implement.
What problems is the product solving and how is that benefiting you?
We have been able to evolve and optimize our close process using the analytics provided by FloQast and can focus on continuous improvement and hold others accountable.
Recommendations to others considering the product:
Utilize the vast library and support team to learn all of the features.
Excellent Product!
What do you like best about the product?
The layout is great, and it does an excellent job of allowing us to monitor our month-end close checklist and track all of our account reconciliations. Separately, I also loved the PBC series produced by FloQast Studios as well as the FloQast Take Control event.
What do you dislike about the product?
I think FloQast is an awesome tool, and I would highly recommend it to any organization. One improvement I would like - and had proposed to FloQast's Customer Success team - is having the bulk addition or removal of a person to close checklist tasks and account reconciliations without needing to export the list into Microsoft Excel to modify. There's currently only the option of doing a bulk re-assign in FloQast (replacing one person on multiple items with another). This has fortunately only been a rare instance for us, so, aside from that, FloQast has been an outstanding tool.
What problems is the product solving and how is that benefiting you?
The biggest asset with FloQast has been its ability to help us more closely monitor our month-end close checklist and give us easy visibility into what tasks remain open. As well, having the ability to see when tasks were prepared and reviewed has been extremely helpful, too. Having our account reconciliations stored in FloQast, as well, has been a huge help.
Recommendations to others considering the product:
I think it's a great tool and would highly recommend at least viewing a demo of the product to see how it compares against what you're currently using.
Easy seamless month-end close
What do you like best about the product?
Nice user interface and organization makes close very simple to understand what I need to do. I enjoy the integration with NetSuite. I haven't used any other competitor so I can't comment on that.
What do you dislike about the product?
I don't have anything negative to say, I haven't used any other close product like FloQast but I don't see myself changing to any other software since this one is very easy to use.
What problems is the product solving and how is that benefiting you?
It is easy to understand if my team is on-track for the month and the email alerts are frequent enough to remind me if I am late or missing something that I need to do. I think overall team efficiency and visibility for me as a manager to understand where my team is at is super helpful.
New to FloQast bur impressed
What do you like best about the product?
I find FloQast most helpful in organizing our close tasks. We have a lot of people involved in close, and it clearly delineates responsibility and assigns accountability. We are a better team because we use FloQast.
What do you dislike about the product?
I'm still learning all the functionality. Sometimes I find it difficult to navigate between the home page and the review assignments. This is probably more of a rookie issue since I've just started to really dive into the power of FloQast.
What problems is the product solving and how is that benefiting you?
Our close process is more efficient and accurate because we use FloQast. We are starting to use FloQast to document our SOX controls, as well, and have been very happy with the ease of use.
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