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Keeps the team on top of their tasks
What do you like best about the product?
It details out every step in the process, so both the preparer and approver can understand what each task on the checklist is. Some steps may be related, but can be done in stages.
What do you dislike about the product?
There's not much to improve on yet as this is our first month using the software.
What problems is the product solving and how is that benefiting you?
Month end close and keeping the team accountable for their respective parts. Since some of us work remote or at different sites, it's important for us to cohesively deliver on financials. If a manager is out of office, they can just log in to FloQast to see what's been done and what's left to review.
Recommendations to others considering the product:
It eliminates the need to maintain an Excel schedule and eliminates meeting with the team on a daily basis to go over pending tasks and statuses.
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Faster than ever!
What do you like best about the product?
I love the fact that I do not have to keep reviewing my checklist to make sure I completed all the schedules etc. Also, i do not have more surprises when my schedules are out of balance.. I get an email letting me know something has changed and i can take a look quickly.
What do you dislike about the product?
I do not think there is anything I 'dislike" the system is fulfilling our needs as for month end closing and I enjoy the fact that they keep adding new functionalities!
What problems is the product solving and how is that benefiting you?
Faster closing, better control on the pending items and what is the status of the items designated to other members of the team, improved communication on what is going on pending items etc
Recommendations to others considering the product:
Excellent software! You will immediately see how your process is improved. Also, it is pretty easy to use and FloQast is constantly offering training on new features or enhancements done. Very good customer service, they get back to you really quickly.
Floqast review
What do you like best about the product?
It seems very organized and user friendly
What do you dislike about the product?
I have to pull multiple reports to get what I need
What problems is the product solving and how is that benefiting you?
Faster month end close
Time Saver
What do you like best about the product?
Quick notifications when reconciliations are unreconciled
What do you dislike about the product?
I would like more analytics but i do think its offered just not within the package my company pays for.
What problems is the product solving and how is that benefiting you?
Quicker close, less wasted time
Recommendations to others considering the product:
Give it a try if you would like to save time in your closing process. Great support and does the job.
Streamlined, efficient close
What do you like best about the product?
FloQast is great at keeping our entire team updated on the status of each close item. We also utilize the review notes feature which helps bring pressing items to the forefront.
What do you dislike about the product?
I would like to see a prerequisite or requirement feature added to close items. For example, before I can check off that I've completed the long-term deferred revenue reclass, I must ensure that all deferred revenue accounts reconcile and have been reviewed by my manager.
What problems is the product solving and how is that benefiting you?
Our month-end close is extremely efficient and the entire team is able to access the necessary schedules/files.
Recommendations to others considering the product:
Give it a try!
Fantastic Close Software
What do you like best about the product?
The best part is the easy excel integration that allows you to refresh and see everything up to the minute. Any changes are reflected and alert you to out of balance accounts.
What do you dislike about the product?
Nothing at this time as we just integrated it recently, I would prefer the automatic refresh be done more then once a day but I dont believe its a major issue.
What problems is the product solving and how is that benefiting you?
Process flow is our biggest fix. This allows our managers to look at the items at a high level and have all the reconciliations in one place.
Recommendations to others considering the product:
It is a great tool and allows for everyone to reduce the amount of time they spend in month end.
Fast and Efficient
What do you like best about the product?
First software implementation I've done that was as easy as they made it sound, and stuck to the original timeline. Implementation took minimal hours from our team, and the efficiencies/visibility we obtained was worth it! Also, our Directors love having the user dashboard where they can easily track the Close status.
What do you dislike about the product?
The sync between FQ and Box.com was a bit confusing for our team. The training should over-emphasize the need to dowlnoad the local version of Box.com to each user's computer (File Explorer for Windows). Our team was having some confusion/trouble until they added the local access to the Box.com files. I created a step-by-step guide for our team regarding how to download... but this should be provided by FQ for your users in advance.
What problems is the product solving and how is that benefiting you?
We just had our first month-end close using FQ, but eventually it will allow us to easily see efficiencies and decrease our # of days it takes to close the books. This will lead to more timely information for our company to make better strategic decisions!
Recommendations to others considering the product:
None - it's as easy as it looks!
Absolutely Fantastic
What do you like best about the product?
I have never been more impressed with any product that assists with close more than I am with FloQast. It reduces the manual work to track tasks, manually reviewing that reconciliations match the trial balance, reduces sign-off time, and provides so many other time saving features that I cannot remember them all. I must also say how much risk of mistakes is reduced for the individual performing the reconciliation and for the reviewer. The rate at which improvements and added features are implemented is very impressive - I have never seen a company put out so many meaningful features and improvements so quickly and seamlessly.
What do you dislike about the product?
Much utility could be added both for close and non-close tasks if items could be assigned not just by work-day or hard date, but also by certain days of the week. Such as being able to assign a checklist item that occurs each Monday in a month. You could do this in FloQast but it would require adjusting the work-day or hard dates each month. This is a very minor item though and one that is not necessarily within the scope the product is built to handle.
What problems is the product solving and how is that benefiting you?
We have used FloQast to track close in a much more assured, expedient manner. It is much easier to manage the progress of the close cycle, faster to sign-off on completed reconciliations and review them, far less risk that a task or reconciliation will be forgotten, it is quite easy to adjust FloQast for changes within the company, and many others that I am sure I am forgetting.
Recommendations to others considering the product:
If you use Excel or another "manual" process to track your close - switch to FloQast as soon as possible. The FloQast team is great with implementation and the benefits are amazing.
Floqast Fan!
What do you like best about the product?
We initially were interested in Floqast to help when balances are signed off on and a journal entry changes them later in the close, an alert is sent out so the preparer can update their reconciliation to match the new GL balance. However it has helped us expedite our close by being able to identify consistently late tasks and address these bottlenecks.
What do you dislike about the product?
There isn't anything I can think of that I dislike, the company is constantly asking customer for feedback so if there is is a feature you want you can pass that info along.
What problems is the product solving and how is that benefiting you?
Floqast has given visibility into the close easily without having a close meeting, constantly updating a spreadsheet, etc.
Wonderful Close Management Solution
What do you like best about the product?
I love the visibility that FloQast provides to all users. It's great to have all close-related items in one place, with a requirement they be checked off when completed and reviewed to ensure that nothing slips through the cracks. The document roll-forward is a great feature, as is the ease of reviewing reconciliations and related workpapers directly from the portal. The implementation and set-up was also a very good experience and my entire team was quickly able to adopt the software.
What do you dislike about the product?
My team and I have been using FloQast for 3 months now, and have not run into anything we dislike. The only thing I could think of that could use improvement was the constant manual re-uploading of the trial balance but they are already testing out a fix.
What problems is the product solving and how is that benefiting you?
Switching to FloQast from a very manually updated Excel checklist has improved our transparency, accountability, and overall management of monthly close. I also think it has naturally improved many of our processes and as we continue to use it, will help keep us consistently audit-ready.
Recommendations to others considering the product:
FloQast eliminates so much of the administrative work required when you just keep an Excel checklist or something similar, and also eliminates a lot of error and missed reconciliations when you are relying on memory and messy processes to complete everything. It helps you and your team stay accountable for tasks, and stick to your goals. My team has experienced great success using FloQast and are only a few months in. I would definitely recommend following through with a demo of the product if you are even slightly interested.
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