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Great way to track tasks and reconciliations
What do you like best about the product?
My favorite part of FloQast is the transparency to our accounting leadership so we can see exactly where everyone is in the month-end close process. We've found several other uses for Checklists and love it! I can't say enough about the client services team...they always take great care of us.
What do you dislike about the product?
I wish we could import budget numbers and have monthly variance reports. The existing flux analysis that compares month-over-month is not helpful for my company which is why we did not purchase that component. The software is also cost prohibitive to roll this out to other departments in our or
What problems is the product solving and how is that benefiting you?
I which we could have a little more flexibility on due dates as we have WEEKLY tasks that we are having to bandaid into FloQast and it doesn't always work correctly. Would also like to be able to pick certain days of the week for due dates. Overall, the checklists are great and keep us on task....just need a few more options to be a 100% win.
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Useful Tool
What do you like best about the product?
Single place to manage close checklist and track status, forces rigor and consistency in format and structure.
What do you dislike about the product?
Can't quite get the views I'd like, not a deal breaker.
What problems is the product solving and how is that benefiting you?
Significant increase in upward visibility on close status and scope, valuable now and will be more valuable as we scale.
Helps organize and manage the close as well as SOX checklists
What do you like best about the product?
Simple to use and setup. Flexible going forward so as things change the steps can change as well.
What do you dislike about the product?
Needs a method for linking dependencies. For example a way for the person responsible for the recon to know that the journals are all complete.
What problems is the product solving and how is that benefiting you?
Close and SOX management and documentation. Very efficient approach to capturing documentation and approvals.
Recommendations to others considering the product:
Easy to try out so worthwhile to do a test run.
Best Closing Software
What do you like best about the product?
Close our book faster with more accuracy, easy sign-off and review. No manual reconciliations, easy to use
What do you dislike about the product?
files sometime were posted in incorrect folder and I had to move them to the correct ones.
What problems is the product solving and how is that benefiting you?
faster and more accurately monthly financial close, user friendly, excellent customer services, Christina Mardirosian and Edson Rodriguez are the best.
Recommendations to others considering the product:
Use the checklist to keep track of your close process - if a team member has to wait for other steps to be done before his part, he can simply wait for other members to sign off in Floqast before working on his.
No manual reconciliation
Sign off can be used for internal controls
No manual reconciliation
Sign off can be used for internal controls
Keeps us on track and on time!
What do you like best about the product?
I love the layout. It's very user-friendly and can be modified to your company's needs. It absolutely helps to keep us on top of what needs to be done and helps get our close on track.
What do you dislike about the product?
I wish there was a "to-do" like function for items not close related for example, as a payroll manager, I'd like to see a built-in to-do list that helps me keep track of not only my close specific tasks but also those that have deadlines and due dates that impact the payroll function.
What problems is the product solving and how is that benefiting you?
We've reduced our close time from 6 days to 3 days with help from Floqast
Recommendations to others considering the product:
None at this time.
It works well and is helpful to keep track.
What do you like best about the product?
I like the reconciliation feature the best.
What do you dislike about the product?
It can be cumbersome to change settings sometimes.
What problems is the product solving and how is that benefiting you?
It helps get everyone on the same page for where we are at as a team each month end.
I would definitely recommend for larger companies. It is cost prohibitive for smaller companies.
What do you like best about the product?
Being able to see status of the close real-time and knowing exactly what has been completed vs. what is outstanding. Being able to see if a balance has changed. The QBO integration is great.
What do you dislike about the product?
The analytics are insufficient for managing 100+ clients (we are on the CAS side). Wish it had an open API so we could run our own analytics and reporting. It doesn't integrate with Quickbooks Desktop, which we have a lot of clients on.
What problems is the product solving and how is that benefiting you?
Higher quality and more consistent practices in client month end close processes. Better way to track status and see team progress. More accuracy in balance sheet reconciliations.
Recommendations to others considering the product:
Set up checklist and reconciliations templates for your company to use.
Easy to Use
What do you like best about the product?
I love how easy it is to roll from one month to the next. It directly pulls from Quorum so there is not a manual upload or process on my end to start my reconciliations. After I complete my reconciliation workbook (which is my rollforward workbook), all i have to do is refresh the page to clear my out of balance accounts with monthly activity amounts. Also, the process to cross off checklist items is seamless. Once I complete my task, I mark it complete and move on to the next task. I have yet to run into any major issues. I am able to cut down on the time it takes to do my reconciliations every month by hours.
What do you dislike about the product?
Sometimes it pull incorrect amounts for my account balances so I have to contact Courtney Roach to reach out to her contact. However, I am not sure if this is an issue with Quorum or FloQast. I also like there to be a better way that the software emails you about tasks or reconciliations are due. This could be indicating which account is out of balance instead of just sending a generic email saying that something is not done.
What problems is the product solving and how is that benefiting you?
The main benefit on my end is the time it takes to do my reconciliations. This was a painstaking process and now it takes less than ten minutes. As of problems, I am not in a position to know any problems. Everything on my end is great.
Recommendations to others considering the product:
I would recommend that they at least hear a demo from your sales team.
A clear and concise way track month-end
What do you like best about the product?
automatically pulls in data with tagging
What do you dislike about the product?
takes a long time to refresh, especially across entities
What problems is the product solving and how is that benefiting you?
a quicker, paperless month-end!
Floqast has increased the efficiency of our month-end reconciliation process!
What do you like best about the product?
Floqast provides us with a central checklist for monthly/quarterly/annual tasks for each entity, and it also allows us to control the reconciliations that need to be performed for each entity in an easy and efficient manner.
What do you dislike about the product?
Changes to be in one entity needs to be replicated one by one for all entities, instead of a mass change for all.
What problems is the product solving and how is that benefiting you?
We complete all of our month-end processes including reconciliations by Day 10.
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