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Floqast is a great tool for accounting teams
What do you like best about the product?
It is beneficial for driving the period-end close.
It helps ensure that key tasks are performed in a timely manner
It allows the entire team to see what still needs to be performed in real-time.
It ensures that there are reconciliations for all accounts and that all accounts are reviewed. If an account balance changes in the general ledger after you've signed off on the reconciliation, then you get a warning that the reconciliation needs to be updated.
Overall, once you use it, there's no going back to other methods.
It helps ensure that key tasks are performed in a timely manner
It allows the entire team to see what still needs to be performed in real-time.
It ensures that there are reconciliations for all accounts and that all accounts are reviewed. If an account balance changes in the general ledger after you've signed off on the reconciliation, then you get a warning that the reconciliation needs to be updated.
Overall, once you use it, there's no going back to other methods.
What do you dislike about the product?
Not much. There's room for improvement in terms of being useful for documenting internal controls, but there are ways to make it work.
What problems is the product solving and how is that benefiting you?
We have been able to track our close and can set goals for achieving a quicker and more efficient close.
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Great checklist for both close and SOX to ensure everything that needs to be done gets done.
What do you like best about the product?
Easy to use and monitor teams' progress to ensure close is completed and controls are being performed. We can allow interested parties access to the program and our documentation which makes audits easier. As a controller I have confidence that things are getting done timely. Easy to identify bottlenecks.
What do you dislike about the product?
Things are working quite well and have not had any issues so far. We have been using the program for over a year now. Implementation was pretty easy. The program has always worked as advertised.
What problems is the product solving and how is that benefiting you?
Maintaining all SOX documentation so that it is easy to recall. Ability to give outside internal audit access to review and test documentation before sending to outside auditors.
It's very helpful to keep the close work on track and assign responsibilities
What do you like best about the product?
I like the ability to organize the work and review schedules easily. I also like the ability to leave notes on items to clear. I also love the bulk reassign function!
What do you dislike about the product?
I dislike some issues I have had with getting the trial balance uploaded
What problems is the product solving and how is that benefiting you?
Problems can be staying on track to financial statement delivery on engagements - making deadlines. Floqast helps keep you on track to your deadlines.
Recommendations to others considering the product:
Make sure it is set up properly with assignees and due dates for best application to your business.
Project Organization at its finest
What do you like best about the product?
Keeps the team checklist perfectly organized; excellent filters; easy to use for the flux analysis; I love that it syncs with our ERP for recons
What do you dislike about the product?
I don't think the due dates roll forward perfectly month over month; occasionally, the linked documents don't open
What problems is the product solving and how is that benefiting you?
How to evenly distribute tasks; continually solving problems through the flux analysis and FloQast makes it extremely easy to view due to the interface and the filters
Recommendations to others considering the product:
Easy to use and great for organization
Floqast is a very easy to use platform and allows for accurate and timeous tracking of deliverables
What do you like best about the product?
It's smooth to use and never fails, which is great
What do you dislike about the product?
Nothing, it's easy to use and I like the it
What problems is the product solving and how is that benefiting you?
Able to communicate easily through the platform and shows exactly how downstream impact can be seen if a task can not be signed off.
Recommendations to others considering the product:
Use it for everything that you can use it for!
Very organized and intuitive system!
What do you like best about the product?
FloQast is excellent for managing a large team to-do list. I like logging in every day and seeing what is due for myself and other team members.
What do you dislike about the product?
It isn't user-friendly for teams outside of accounting. Since FloQast is organized by Balance Sheet account, and our Finance team is only familiar with the Income Statement account organization, they have a hard time following when Income Statement accounts are ready for their review.
What problems is the product solving and how is that benefiting you?
We have eliminated the need to email/ chat with other team members to ask when tasks are complete. Instead, we can view FloQast and receive real-time updates. Also, we have reduced training time when onboarding a new staff member or switching roles between existing staff members.
Recommendations to others considering the product:
Quantify the hours it takes to train someone new, then reduce that in half due to having FloQast implemented and calculate the savings. Also, think about what parties you want to be able to use FloQast. There are logins available for employees outside of the accounting team, such as the finance or other management teams. There are also logins available for auditors. Allowing auditors to log in proves very beneficial when it comes time to perform the year-end audit, as all your documents are already saved in FloQast. You can save your team a week's worth of time pulling documents for the audit by instead having auditors log in and download the information directly themselves.
Summit
What do you like best about the product?
How easy it is to reconcile balance sheet
What do you dislike about the product?
Nothing at all, very happy with this platform
What problems is the product solving and how is that benefiting you?
Keeping us to timetable
Recommendations to others considering the product:
1st time I have used this platform, and it was easy to implement and very easy to use, beneficial for month-end
Game changer
What do you like best about the product?
The ease of use and the transparency throughout the close process. The API interaction with our software is seamless and we significantly reduced our days to close.
What do you dislike about the product?
I don't have anything I dislike about the software. I was a previous user of Blackline at other organizations and I find that Floqast is much more user friendly.
What problems is the product solving and how is that benefiting you?
We've reduced days to close. We had all reconciliations reviewed and ready for fiscal year-end audit and we are now moving into using the flux analysis.
Love it!
What do you like best about the product?
Being able to see the reconciliations vs. NetSuite is so nice. We also love the integration with OneDrive.
What do you dislike about the product?
Some small things have come up, but we love being able to give feedback to the FQ team and see them make updates!
What problems is the product solving and how is that benefiting you?
We are able to put in better controls for the close. I love that we can't miss anything because it shows up in the unfinished items.
Super helpful with organizing and prioritizing tasks I have to get done is a certain period of time!
What do you like best about the product?
I enjoy the advanced filtering functionality of Floqast, the ability to search tasks by name, date, status and even other customizable fields is a big help!
What do you dislike about the product?
Uploading documents was tricky at first but with the help of the Floqast support team, it became a lot clearer
What problems is the product solving and how is that benefiting you?
As part of an accounting team, having to close out monthly financials in a short window of time can be alot to deal with but Floqast has been able to put everything I have to do on one page and more importantly WHEN I have to complete it by.
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