FloQast
FloQastReviews from AWS customer
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Game Changer for Month End Close
What do you like best about the product?
FloQast is a valuable tool that enhances our month-end close process by providing us with clear and timely insights into our progress, challenges, and opportunities. It seamlessly integrates with our existing workflow and enables us to monitor the completion status, identify the bottlenecks, and determine the optimal time for a soft close to generate financial statements. It also helps us to prioritize tasks and automate reminders, reducing the need for manual follow-ups and repetitive requests. We use FloQast on a daily basis and rely on it as the main source of information for our weekly meetings, where we discuss the week’s priorities and potential risks. FloQast is user-friendly and easy to implement, requiring minimal training and setup time. It also allows us to organize and reconcile our month-end working papers more efficiently and accurately.
What do you dislike about the product?
The autorec feature for bank recs isn't as helpful as we had hoped. It relies on separate imports of of the bank uploads and the GL details with tweaking required to import properly. With accounts in multiple banks in two countries, it makes it a cumbersome process. . It makes more sense to do the reconciliation in Sage Intacct and then uploading the data to see the official sign-off for the audit trail, but that's still a lot of effort just fulfill that audit request.
What problems is the product solving and how is that benefiting you?
It was difficult to answer the question "where are we at with month end" prior to FloQast. Now we can clearly see exactly what has been done, what is still outstanding, and where we can improve our processes to prevent bottlenecks. We've been able to see that even after one month of using FloQast, we have already started to shorten the number of days it takes to close.
A User-Friendly Tool to Consolidate and Track
What do you like best about the product?
I like the visibility into various tasks, even those that aren't assigned to me. It helps me to manage my days better as far as what to prioritize. I also really enjoy the reconciliation feature because it helps me to keep track of outstanding items or things that may need to be written off/handled by a certain time period. Additionally, the Remind feature helps to ensure that I never miss collection of documentation and entries are submitted more timely.
What do you dislike about the product?
There are small bugs when it comes to setting filters or saving documents, but otherwise, I thoroughly enjoy the platform and it has greatly helped me to organize my tasks daily, weekly, monthkly and annually.
What problems is the product solving and how is that benefiting you?
Keeping track of monthly tasks and account variances. This is helping to ensure that we do not miss anything during our monthly processes so that monthly reporting is close to accurate and less changes are needed during the audits.
The only software I bring to every company I join
What do you like best about the product?
It's so simply & easy to implement. It took me 3 weeks last time.
It's by accountants, for accounts. Very easy to use and intuitive.
Free training in FloQademy. Free CPE for everyone - you don't have to pay for it or be an active FloQast license user
Heavy R&D into designing & testing features (via FloVerse)
It's by accountants, for accounts. Very easy to use and intuitive.
Free training in FloQademy. Free CPE for everyone - you don't have to pay for it or be an active FloQast license user
Heavy R&D into designing & testing features (via FloVerse)
What do you dislike about the product?
Still designing subledger import & auto rec (to rival Blackline)
Remind is separte from checklist
Remind is separte from checklist
What problems is the product solving and how is that benefiting you?
Month end close reconciliation automation with accounting
FP&A review
Identifying Dependencies & redundancies
Analytics
Scheduling & Timeline
Compliance, Annual Audit & Sox Compliance
Cloud storage of reconciliations
FP&A review
Identifying Dependencies & redundancies
Analytics
Scheduling & Timeline
Compliance, Annual Audit & Sox Compliance
Cloud storage of reconciliations
Floqast has made managing our Reconciliations and Close a breeze!
What do you like best about the product?
The team really likes the interface, its clean and easy to use and very user friendly. It was also very seamless to integrate into our processes and SSO
What do you dislike about the product?
Nothing to highlight, its only made our processes more efficient
What problems is the product solving and how is that benefiting you?
Easy of managing reconciliations and sign off
SOX approved - effective tool to help Auditors get comfortable with our reconciliations
Files integrate well into our file structure
One stop for housing reconciliations and month end checklist / deadlines
SOX approved - effective tool to help Auditors get comfortable with our reconciliations
Files integrate well into our file structure
One stop for housing reconciliations and month end checklist / deadlines
Excellent product to drive productivity
What do you like best about the product?
We've been using FloQast for several months now, and it has helped us to gain deeper insights in our processes and to optimize them.
Support has been world class, and from the implementation down to the daily use, the team has been extremely helpful and always available. It was a very smooth process to integrate with our ERP Oracle Fusion, and we'll keep using and improving our timelines thanks to the package.
Support has been world class, and from the implementation down to the daily use, the team has been extremely helpful and always available. It was a very smooth process to integrate with our ERP Oracle Fusion, and we'll keep using and improving our timelines thanks to the package.
What do you dislike about the product?
So far, there are very few issues, and when a functionality is not exactly as we expect it to be, the team is always available and provides quick and hands-on assistance.
What problems is the product solving and how is that benefiting you?
FloQast helps us to smoothen out and speed up our closings.
Quick, easy to use and simple to get the whole team organized
What do you like best about the product?
I like the organization of a checklist and reminder emails and the progress quickly and easily shown.
What do you dislike about the product?
I would like the reminder emails to include what is left in the checklist so you don't always have to log in to see what is overdue, etc.
What problems is the product solving and how is that benefiting you?
It is solving the mundane task of discussing a checklist with the group and already having things signed off on and quickly referred to for progress to make the team meetings more efficient
User friendly, great customer service and essential.
What do you like best about the product?
Saves an enormous amount of time, very easy to use, intuitive and the speed and quality of response is great.
What do you dislike about the product?
Nothing significant. It would be good if it was more customisable. I have asked for an option for reconciliations to have a preparer monthly but reviewer quarterly, but this cannot be done.
What problems is the product solving and how is that benefiting you?
Reducing the close period and making it much smoother and controlled.
Good to have one !
What do you like best about the product?
Ease of Use. helps keeps on track which is important during the month end.
What do you dislike about the product?
Sometimes it feels like using additional features
What problems is the product solving and how is that benefiting you?
Help not to forget
Confidence in the Close Process!
What do you like best about the product?
I like that FloQast integrates with our ERP (Intacct) and immediately tells me if a workpaper or reconciliation falls out of balance. I like that it integrates with cloud storage solutions.
FloQast also helps me identify bottlenecks in our monthly close process.
I like that FQ is constantly trying to improve the product and make meaningful changes.
FloQast also helps me identify bottlenecks in our monthly close process.
I like that FQ is constantly trying to improve the product and make meaningful changes.
What do you dislike about the product?
FloQast is great, I don't have any major concerns.
What problems is the product solving and how is that benefiting you?
It's hard for me to know who is doing what and when it's due. It's also hard to ensure our workpapers and reconciliations tie to the GL. FQ solves both of these problems.
1.5 Years using FQ Close; Recently implemented FQ Compliance Module
What do you like best about the product?
In 2023, we implemented FloQast to streamline our month-end close process. The checklist feature has been invaluable for ensuring organization and task completion, eliminating the manual oversight needed with our previous Excel-based approach. FloQast’s task assignment and automated reminders have lightened management’s workload, while its balance sheet reconciliation tool, which syncs with our ERP’s trial balance, has reduced errors and prevented potential audit issues by notifying preparers and reviewers of discrepancies.
Approximately a year after adopting FloQast for closing, we transitioned our SOX compliance system from AuditBoard to FloQast Compliance. Initially hesitant, we worked closely with the FloQast team, who refined the compliance tool based on our and our auditors’ feedback. After these enhancements, we received approval from our auditors to proceed with FloQast Compliance. Though still in the early stages of our first audit cycle, we’re pleased with its performance. While there’s a learning curve after 10 years with AuditBoard, FloQast Compliance has proven functional and reliable, with a responsive team that addresses enhancement requests effectively.
Approximately a year after adopting FloQast for closing, we transitioned our SOX compliance system from AuditBoard to FloQast Compliance. Initially hesitant, we worked closely with the FloQast team, who refined the compliance tool based on our and our auditors’ feedback. After these enhancements, we received approval from our auditors to proceed with FloQast Compliance. Though still in the early stages of our first audit cycle, we’re pleased with its performance. While there’s a learning curve after 10 years with AuditBoard, FloQast Compliance has proven functional and reliable, with a responsive team that addresses enhancement requests effectively.
What do you dislike about the product?
There are minor enhancement requests we have submitted for FloQast compliance: adding filters to some of the compliance screens; being able to link narratives and controls across different audit projects (corp controls vs IT controls, for example).
What problems is the product solving and how is that benefiting you?
FloQast has introduced substantial efficiencies to our close process by providing real-time visibility into status updates, enhancing collaboration between our finance and accounting departments. The “watch” feature enables the finance team to monitor the accounting team’s progress, allowing them to initiate their tasks at the appropriate stage. In a remote work environment, this functionality has been particularly beneficial in helping our team stay aligned. Additionally, auditor access has been highly valuable, streamlining audit workflows.
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