FloQast
FloQastReviews from AWS customer
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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.
AEM Review
What do you like best about the product?
Accessibility via one drive or Internet explorer
What do you dislike about the product?
doesn't save my most recent access, always reverts back to a month in 2021
What problems is the product solving and how is that benefiting you?
Month end close process for all balance sheet accounts, and major projects
Recommendations to others considering the product:
NOne, good product thus far
Excellent Software, saves time by getting things automated through Floqast.
What do you like best about the product?
Reconciling the Bank statements, Card statements in a minute and reminding us about our overdue tasks through email.
What do you dislike about the product?
Refreshing the subsidiaries after uploading the Back ups takes time.
What problems is the product solving and how is that benefiting you?
Getting things automated through FloQast
Recommendations to others considering the product:
It is a very friendly software also saves our maximum time in manual activities by getting things done through automation, i really appreciate and thankful to FloQast.
Simplified closing process
What do you like best about the product?
I love how this allows us to link the account balance in our reconciliation work papers the ERP account balance. I also like getting notifications for accounting teams that have closed so that my team can begin running reports ;)
What do you dislike about the product?
The updates from excel balance accounts to FloQast can take some time, like 2 to 3 min but it's not the end of the world!
What problems is the product solving and how is that benefiting you?
We are ensuring our reconciliation account balances are accurate and allow us to detect account changes during close. This is a very easy and useful software tool to use!
Well-Developed SW for Tracking Various Financial Processes
What do you like best about the product?
FloQast provides a robust tracking system for critical accounting and finance processes, together with auditable evidence of reviews.
What do you dislike about the product?
It would be helpful to have a field that assists in numbering/sorting various checklists/processes.
What problems is the product solving and how is that benefiting you?
Our balance sheet account recon process and control have never been better than in FloQast.
Our quarter-end close external filing checklist is in FloQast, allowing, 1) the multiple users access when they need it, 2) reminders when needed, 3) auditable evidence.
Our quarter-end close external filing checklist is in FloQast, allowing, 1) the multiple users access when they need it, 2) reminders when needed, 3) auditable evidence.
FloQast User
What do you like best about the product?
I like that I can keep track of my monthly checklist and gives me the percentage of completion. Also, that it notifies me if I am out of balance after I complete my recons if there are any changes.
What do you dislike about the product?
I don't dislike anything perse, I would make it possible for you to add a personal work checklist to it and not public ones.
What problems is the product solving and how is that benefiting you?
Keeping everything up to date, and informing the team of their next steps including myself.
Yes, I am more productive, because I see the timeline when it needs to be done and looking being able to look other individual timelines and what they need from my checklist.
Yes, I am more productive, because I see the timeline when it needs to be done and looking being able to look other individual timelines and what they need from my checklist.
Recommendations to others considering the product:
Integrate with your GL so you know when recons are out of balance. Also, update for any days that your company gives off in order to keep the data accurate.
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