The product is so simple but so powerful

Pros

We have been working with #FloQast for about 6 months now and this is one of the best investments we have made. The Implementation process was so quick and easy. You can get it up and running with the basics and then begin filling out all the fine details of the close process. We were in a difficult process of implementing a new accounting software system in our organization when we became aware of #FloQast. I don't think we would been able to catch up and get back on track with our monthly close process so quickly without #FloQast. It created a great structure for making sure everything was done and out staff love the satisfaction of checking off their tasks.

Cons

Still looking for any significant deficiencies.

Excellent product to assist in refining your close process

Pros

There are many things to love about the software. What I appreciated the most was ease of setup and use. Makes it very easy to create buy-in with your teams to use the software.

Cons

They should continue to improve their fluctuation analysis module. It is good, but basic.

Floqast allowed us to efficiently implement a month end close process making review easier

Better insight into our month end close for timeliness and accuracy.

Pros

The pros are ease of use and modification. The website is intuitive to use and has good visuals. The ability to link to our existing process allowed for easy implementation and instruction to our staff. The customer support has also been great with short response times for almost any issue. The FQ team have regularly reached out regarding additional items that could be added to the platform as well.

Cons

One of the cons we have run into is our use of OneDrive but some of our connectivity issues are not attributed to Floqast specifically. The biggest downside for our use of the system has been the inability to separate reviewer and preparer from having something due. If the preparer has not completed the task it is still shown as open for the reviewer. This also affects analytics as a reviewer can't control the timeliness of the preparer in some cases.

Perfect Solution

We are a publicly traded company. Internal controls are part of our life in the office. Our auditors and PCAOB increasingly require companies to provide evidence of the controls, controls performance and efficiency. Before FloQast, our team had to create and update our monthly close tracking sheets manually and had to meet almost daily during the close time to ensure all tasks are done timely. The manual process created errors, miscommunication, and delays. Now, with FloQast, our close is almost stress free. My team can work remotely if they want to and get things on time. No micro management is needed. Our auditors have their evidence and get their SOX testing done REMOTELY with less questions as well. As my team's manager, I don't have to walk or call anyone to see where and how things are. If I have comments, I simply put those in FloQast and can see the progress and responses. Our close time and costs are cut down by almost one-third. Purchasing FloQast is one of the best decisions we've ever made. The team at FloQast is awesome. They listen, address our requests and provide assistance beyond our expectations. Thumbs Up!!!

Pros

fast implementation, value, services, efficiency, ease of use....

Cons

No cons

Incredibly helpful!

We've really cleaned up our books, quickened our close, and kept cleaner records now that we have an easy way to roll documents along from month to month. We used to use a shared Excel checklist to keep our organization streamlined during the month-end close process, and now we have this great and handy tool to check off in a much easier way. It used to take our boss an hour or more to get all of our end-balances in a list to start the Reconciliation process, and that's an hour of her time back that she now has due to the roll-forward features of FloQast.

Pros

I like the Reconciliation and Checklist functions the best, which is essentially the entire platform, so overall, this system works great and is incredibly helpful for our month-end processes. Their support team is excellent in responding to questions and concerns, and for once, a company actually has a useful "FAQ" section.

Cons

Nothing, I would seriously recommend this to any accounting team. Maybe the only thing that bugs me is the speediness of the Refresh button, but that's very minor in the grand scheme of things. Plus, they have been very responsive in any suggestions or critiques we have of small feature improvements, and many of them have already been fixed in the few months our team has been using this software.