FloQast
FloQastReviews from AWS customer
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Invaluable to our close process and other workflows
What do you like best about the product?
I like that FloQast is a workflow management platform made by accountants, for accountants. Seamless synching, loads of visibility, and customization where it is needed.
What do you dislike about the product?
That I did not have this tool at my previous company. Honestly, there are a few quirks that I have found that are not ideal, but FloQast has worked with us to resolve most of those and and constantly looking for ways to improve the product.
What problems is the product solving and how is that benefiting you?
We have solved close communication flows. I can see everything going on through my dashboard.
We have created new workflows to keep non-close items out of close and in their own workflows (compliance, payroll, etc).
We have solved the shared Flux workbook problem. FloQast enables our flux analyses and save hours of time each month with that alone.
We have created new workflows to keep non-close items out of close and in their own workflows (compliance, payroll, etc).
We have solved the shared Flux workbook problem. FloQast enables our flux analyses and save hours of time each month with that alone.
Recommendations to others considering the product:
Once implemented, engage with the product, and you will find helpful ways to improve various workflows in your organization.
very intuitive and simplify the closing process
What do you like best about the product?
simplify the closing process
the most helpful-> if someone posts JE in the account after reconciliation, you receive an alert for the change- very important control!
the most helpful-> if someone posts JE in the account after reconciliation, you receive an alert for the change- very important control!
What do you dislike about the product?
Completeness Report check->as of now, this is done manually-> I believe it will be helpful if FQ can synchronize and send an alert for accounts which not appear on the re conciliations
What problems is the product solving and how is that benefiting you?
As of now, the main benefit I gain is by simplifying the closing process and alerting if someone posts JE after you prepare the supporting WP. by doing that, the closing performance increased.
FloQast team is helpful
What do you like best about the product?
I appreciate the flux analysis part of floqast that will update when an changes are made to an account
What do you dislike about the product?
It would be better if we could auto-reconcile contra accounts like accumulated depreciation in floqast
What problems is the product solving and how is that benefiting you?
i'm not really having any problems. Some benefits include getting notifications when a rec or account has changed after being signed off on, and getting notifications when something in a flux analysis changed after a comment was submitted.
Organization...audit ready...accountability
What do you like best about the product?
The workflow and organization of files and being able to roll forward recons effortlessly.
What do you dislike about the product?
Would like some entities to not be bound with Date driven folders (like an annual audit). It becomes confusing as to what period we are saving to.
What problems is the product solving and how is that benefiting you?
We had issues with missing recons and now it's difficult to ignore them. This has helped us be more complete and accurate.
Recommendations to others considering the product:
User adoption is an area you have to mandate with your team to make it timely and relevant. This has probably been my biggest challenge in getting my team to update immediately.
User friendly
What do you like best about the product?
It is easy to maneuver through month-end close with FloQast. I love it! It easily integrates with NetSuite which is so helpful.
What do you dislike about the product?
There really isn't anything I don't like, for our needs it is perfect.
What problems is the product solving and how is that benefiting you?
It helps all of us complete our tasks and stay on track. It helps ensure all of our closing tasks and responsibilities are listed and completed.
Good Close Management System that is constantly improving
What do you like best about the product?
Pros:
- Simple and easy to pick up and learn
- Management and customer service team are proactive with outreach and feedback
- New features are added on a regular basis(love ReMind and Workflows)
- Integrates easily with Netsuite with minimal set up
- Documents are held within Google Drive making administration easy
- Analytics have been helpful to identify potential areas of improvement
- Auditor's are able to access Floqast using special Audit roles
- Simple and easy to pick up and learn
- Management and customer service team are proactive with outreach and feedback
- New features are added on a regular basis(love ReMind and Workflows)
- Integrates easily with Netsuite with minimal set up
- Documents are held within Google Drive making administration easy
- Analytics have been helpful to identify potential areas of improvement
- Auditor's are able to access Floqast using special Audit roles
What do you dislike about the product?
Cons:
- Flux reporting within Floqast is unable to accommodate complex reporting structures that incorporate a mixture of dimensions
- Reconciliation module has difficulty managing high transaction volumes(10K+ per month per account across 20+ accounts)
- Lack of control over reconciliation algorithm for more complex matching situations
- Sensitive items require separate workflows to limit access
- Unable to create journal entries directly from Floqast
- Flux reporting within Floqast is unable to accommodate complex reporting structures that incorporate a mixture of dimensions
- Reconciliation module has difficulty managing high transaction volumes(10K+ per month per account across 20+ accounts)
- Lack of control over reconciliation algorithm for more complex matching situations
- Sensitive items require separate workflows to limit access
- Unable to create journal entries directly from Floqast
What problems is the product solving and how is that benefiting you?
We were looking for a more robust close management tool than a Google Sheet that allowed for better visibility into close status. We were looking for more than a simple tracking tool and the reconciliation module along with checklist notes allowed us to better communicate status and complete tasks. We've gone from a 10+ day close to a 5 day close using Floqast
FloQast has been instrumental in our month end close process
What do you like best about the product?
Having all of our month end close data in one place
What do you dislike about the product?
Sometimes difficult to see which items review notes are attached to
What problems is the product solving and how is that benefiting you?
We have a disaggregated team, and our close has become so much more efficient after having all of our checklists and reconciliations in one place so the team knows exactly where we are with close
Organized very well; enables a lot without a ton of effort
What do you like best about the product?
What I like the best is that it is so simple and easy to complete the tasks and such month after month. I do not have to constantly make new folders or anything like that to house the files for review, etc. Not having to sweat the smaller stuff saves time.
What do you dislike about the product?
What I don't really like a lot is pretty minor. I am not the biggest fan of going to the site and it defaults to the previous month instead of the month we are currently working on. That isn't the biggest deal and it might be able to be changed (I just haven't looked yet).
What problems is the product solving and how is that benefiting you?
I am easily able to complete reconciliations and to help with flux analysis. Things are laid out well, I am reminded of deadlines and if things change. I like that a lot.
Recommendations to others considering the product:
If you want something simple for organizing things and making setup for continuing month end processes, this is a good option.
FloQast is great! Easy to use, comprehensive, and always expanding the functionality
What do you like best about the product?
FloQast has a great dashboard and filtering tool with the option to roll forward documents into the next file. The team is always looking for feedback to improve the website and develop solutions for various use cases.
What do you dislike about the product?
I'd like to be able to filter by reviewer.
What problems is the product solving and how is that benefiting you?
FloQast offers central management of our internal month end checklists as well as our audit PBCs.
Recommendations to others considering the product:
It's a great product!
FloQast
What do you like best about the product?
What I love is that FQ is constantly innovating and expanding their offering to make more 'sticky' - at no additional cost. Also, the customer support and in particular interactions with account manager at first class.
What do you dislike about the product?
Not so much a dislike, but a learning curve. I had used Cadency for many years and it took a little while for me to get used to the way FQ utilizes Excel, but now I fully get it.
What problems is the product solving and how is that benefiting you?
Monthly close monitoring and reconcilations, SOX controls, reminders for reporting and payroll, ReMind for email templates. Want to start used flux analyis next.
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