FloQast

FloQAST with Ease

Pros

FloQast is incredibly user friendly. The notification emails for reconciliations changing are a fantastic feature. It also serves as a helpful tracker for prioritizing month-end closing tasks.

Cons

At the moment, I do not have any cons. I have been using FloQast for our monthly close process, and I look forward to exploring more features in the future.

FloQast Leading the Accounting Close and SOX Management

Pros

I absolutely love how FloQast consolidates accounting functions into one centralized location. It is great that all accounting documentation is easily accessible within the FloQast system and directly linked to our SOX compliance module.

Cons

It would be great to have more in-app linking between the modules and consistent features across each module.

Outstanding Month-End Closing Tool

Pros

The dynamic tool provided by FloQast for organizing month-end tasks is fantastic. We no longer have to rely on Excel checklists. Thanks to FloQast, we have been able to reduce our month-end close time from barely making it by the last day of the month to just 15 business days!

Cons

My only complaint is the inability to duplicate prepaid items in the AutoRec feature. We have several monthly invoices that are prepaid, so being able to duplicate the previous month is item and make minor changes would be wonderful.

How did we live without this tool!!

Pros

The ease of use and the ability to see close progress on a single page is excellent. The Remind feature is a valuable tool for those of us constantly waiting on documents from other departments.

Cons

I can honestly say that I do not have any dislikes! This tool is truly a lifesaver!

Customer Oriented

Pros

Its impressive how responsive FloQast is to customer feedback and questions. I love their dedication to addressing customer needs.

Cons

I would like to see improvements in the design of the variance analysis website.

Great Product

Pros

Overall, FloQast is a fantastic product. Its user friendly and easy to navigate. The ability to upload existing Excel reconciliations has significantly improved the efficiency of our month-end close process.

Cons

With our company is multiple locations and divisions, the account reconciliation dashboard can become overwhelming due to the sheer number of accounts to reconcile.

We Love Floqast

Pros

I am amazed with the fact that we can import transactions from our general ledger into FloQast and reconcile on a daily basis. This allows our entire team to access the reconciliations instead of just having them in an Excel sheet. Initially, we were skeptical but now we would never go back. The time saved is easily three or more hours in a workday.

Cons

We are currently addressing any improvements with our FloQast representative. Connectivity issues have been the main concern, and we have not encountered any major problems.

Ease of Use

Pros

The best thing about FloQast in my opinion is how easily new users can understand and successfully use the software. My department did not have to go through a lot of training to implement it. The software is intuitive and highly user friendly. The person assigned to guide us through the setup did an excellent job and I also liked the follow-up meetings after the go-live date to ensure a smooth experience. I also find the analytics component of the software, which we did not have before to be very valuable.

Cons

It would be great if FloQast offered better functionality for role-based security. However, we manage this by creating multiple companies and restricting access to each one. Although it is a minor inconvenience, I can still view all the data through a combined-company approach.

FloQast to the Rescue!

Pros

I find the interface easy to work with especially the task checklist reminders and the AutoRec Matching tool.

Cons

I have genuinely enjoyed using FloQast right from the beginning and have not come across any drawbacks.

FloQast Ease of Use is Excellent...and the Auditors Love it Too!

Pros

Implementing FloQast was a hassle free task. We had recently completed a major ERP implementation, so we were expecting a similar experience with FloQast. However, we were pleasantly surprised to be up and running in less than two weeks. Whats even better is that our team started using the system before the training session led by FloQast because its that easy to use and intuitive! After the initial go-live, which focused on the monthly GL close and reconciliation process for the Accounting team, we expanded to the financial reporting team, FP&A, and Payroll. Each team is highly satisfied with the efficiency and control they have gained over their processes. The most significant benefit, though, has been rolling out the system to our external auditors. We transitioned the quarterly PBC list to FloQast, giving them access to our financial reporting, monthly close checklist tasks and reconciliation reports. Now, auditors can retrieve the data they need without assistance, saving us and them a significant amount of time during audits. The number of conversations and emails has drastically decreased, and we are now ahead of audit requests, often completing them well in advance of the due date!

Cons

My only criticism of FloQast would be regarding the Flux Reporting module, specifically the layout process for flux reports. It can still be a bit difficult to make modifications especially for financial statement line items. However, based on past experience I am confident that FloQast is actively working on improvements as many of the systems enhancements over the past three years have been a direct result of customer feedback and suggestions!