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Good tool for process management - looking forward to new functionality
What do you like best about the product?
FloQast doesn't require you to redo your work in their product - you just tag balances in your existing reconciliations and it tracks changes, notes, due dates and completion dates,all in one location, perfect for audit support.
What do you dislike about the product?
Some of the auto reconciliation features can be a little hard to implement and use.
What problems is the product solving and how is that benefiting you?
Monthly process flows are in FloQast - no longer in a spreadsheet. We are seeing our bottlenecks and areas for improvement much more clearly as well as documenting in a central location accessible to the entire team. FloQast is also helping us realize where we were missing reconciliations and changes made after reconciliations were completed.
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FloQast
What do you like best about the product?
User ease, continually improving and adding additional services, and the most helpful and prompt customer support
What do you dislike about the product?
That my co-workers aren't as willing to learn, utilize, and fall in love with the product as easily as I did (but we'll get there! :) ).
What problems is the product solving and how is that benefiting you?
Streamline workflow and responsibilities. Constant, real-time overview of the progress of each entity/company to keep all parts informed and on the same page
Simple but hugely effective
What do you like best about the product?
Great for storing/managing balance sheet reconciliations and evidencing SOx controls with a mix of office and home working.
We also use it for all manner of ad-hoc tasks which need e-sign off
Works with existing Excel reconciliations without having to re-build within the product's own templates
Super quick to implement and intuitive to use
We also use it for all manner of ad-hoc tasks which need e-sign off
Works with existing Excel reconciliations without having to re-build within the product's own templates
Super quick to implement and intuitive to use
What do you dislike about the product?
Initially had a few issues with using over VPN, seems faster now
What problems is the product solving and how is that benefiting you?
More efficient BS recs process. Easier to track progress/completion, everything in one place.
Electronic sign-offs are consistent and keep our internal audit team happy
Auto-sign off for accounts which shouldn't change are great
Notification that account is out of balance is super-helpful - allows preparation of the rec before ledgers are closed without worrying about late transactions
Electronic sign-offs are consistent and keep our internal audit team happy
Auto-sign off for accounts which shouldn't change are great
Notification that account is out of balance is super-helpful - allows preparation of the rec before ledgers are closed without worrying about late transactions
Amazing Financial Close Management Software
What do you like best about the product?
Since we implemented FloQast, I have seen many improvements and better collaboration within the team. This software is amazing for month-end progress tracking.
Organization. You can create folders to organize the documents and month-end duties.
Distribution. You can assign each item to the person that is responsible to handle it and you can also assign a reviewer, where both have a due date added and once the task has been taken care of you can sign off and the completed date will be automatically added. There is a button to upload files you have worked on and add comments and assignees if needed.
Tracking. Very user friendly to track progress, view pending items and what has been already completed.
Organization. You can create folders to organize the documents and month-end duties.
Distribution. You can assign each item to the person that is responsible to handle it and you can also assign a reviewer, where both have a due date added and once the task has been taken care of you can sign off and the completed date will be automatically added. There is a button to upload files you have worked on and add comments and assignees if needed.
Tracking. Very user friendly to track progress, view pending items and what has been already completed.
What do you dislike about the product?
The only thing that I would mention here is that sometimes it takes a while to upload large files in FloQast.
What problems is the product solving and how is that benefiting you?
I have a clear picture of my responsibilities and the due dates. It helps me be more organized, and have my own progress documented.
Recommendations to others considering the product:
I would definitely recommend this tool to every company that would like to implement software for their accounting team.
User Friendly, Easy to Implement Service to Control Your Close
What do you like best about the product?
FloQast is easy to implement, easy to administrate and easy to use. We were up and running in less than a week, had one training session, and scrapped our previous close management product immediately. No IT intervention required (except for setting us up for Google SSO)
What do you dislike about the product?
When setting due dates, there needs to be a drop down calendar.
What problems is the product solving and how is that benefiting you?
Easier reviews, more/more efficient interactions between preparers and reviewers.
Recommendations to others considering the product:
The FloQast team has been highly responsive and dedicated to the success of nCino using FloQast for close management and other financial tasks.
Best project/task management tool I've used!
What do you like best about the product?
FloQast has been an absolute game-changer for our month-end close process! We went from everything being manually reconciled to having those sync through FloQast and having checklists to ensure tasks are completed on time.
What do you dislike about the product?
I don't have much I dislike about the system. One of the more nit-picking items would be the ability to open the documents in Excel right from FloQast rather than opening dropbox and having to open in excel that way.
What problems is the product solving and how is that benefiting you?
We are using FloQast for Month End task management and reconciliation. It has made everyone's lives much more manageable, from Controller down to staff accountant!
Floqast is a great tool for accounting teams
What do you like best about the product?
It is beneficial for driving the period-end close.
It helps ensure that key tasks are performed in a timely manner
It allows the entire team to see what still needs to be performed in real-time.
It ensures that there are reconciliations for all accounts and that all accounts are reviewed. If an account balance changes in the general ledger after you've signed off on the reconciliation, then you get a warning that the reconciliation needs to be updated.
Overall, once you use it, there's no going back to other methods.
It helps ensure that key tasks are performed in a timely manner
It allows the entire team to see what still needs to be performed in real-time.
It ensures that there are reconciliations for all accounts and that all accounts are reviewed. If an account balance changes in the general ledger after you've signed off on the reconciliation, then you get a warning that the reconciliation needs to be updated.
Overall, once you use it, there's no going back to other methods.
What do you dislike about the product?
Not much. There's room for improvement in terms of being useful for documenting internal controls, but there are ways to make it work.
What problems is the product solving and how is that benefiting you?
We have been able to track our close and can set goals for achieving a quicker and more efficient close.
Great checklist for both close and SOX to ensure everything that needs to be done gets done.
What do you like best about the product?
Easy to use and monitor teams' progress to ensure close is completed and controls are being performed. We can allow interested parties access to the program and our documentation which makes audits easier. As a controller I have confidence that things are getting done timely. Easy to identify bottlenecks.
What do you dislike about the product?
Things are working quite well and have not had any issues so far. We have been using the program for over a year now. Implementation was pretty easy. The program has always worked as advertised.
What problems is the product solving and how is that benefiting you?
Maintaining all SOX documentation so that it is easy to recall. Ability to give outside internal audit access to review and test documentation before sending to outside auditors.
It's very helpful to keep the close work on track and assign responsibilities
What do you like best about the product?
I like the ability to organize the work and review schedules easily. I also like the ability to leave notes on items to clear. I also love the bulk reassign function!
What do you dislike about the product?
I dislike some issues I have had with getting the trial balance uploaded
What problems is the product solving and how is that benefiting you?
Problems can be staying on track to financial statement delivery on engagements - making deadlines. Floqast helps keep you on track to your deadlines.
Recommendations to others considering the product:
Make sure it is set up properly with assignees and due dates for best application to your business.
Project Organization at its finest
What do you like best about the product?
Keeps the team checklist perfectly organized; excellent filters; easy to use for the flux analysis; I love that it syncs with our ERP for recons
What do you dislike about the product?
I don't think the due dates roll forward perfectly month over month; occasionally, the linked documents don't open
What problems is the product solving and how is that benefiting you?
How to evenly distribute tasks; continually solving problems through the flux analysis and FloQast makes it extremely easy to view due to the interface and the filters
Recommendations to others considering the product:
Easy to use and great for organization
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