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

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.

Amazingly Efficient Tool With Outstanding Support Service!

Pros

As the person who reviews most of the Balance Sheet accounts in my organization, I am very satisfied with this product.
With daily uploads of the updated trial balance, FloQast lets me know at a glance, which accounts are out of balance. I am able to write comments, ask specific questions to the accountant in charge of reconciling the account directly within the software application. It is practical and user friendly. All of our reconciliations, support schedules and documents are located in one place. It is easily accessible to our accountants and managers, thus greatly improving our month and year-end processing.
The FloQast support service is outstanding. They are very knowledgeable and always friendly and professional.

Cons

They are virtually nonexistent. This is not a stagnant program. With the willingness to take customer feedback seriously and apply new technology, I am certain FloQast will be continuously improving.

The customer support is excellent. The system is very useful for month-end close.

Pros

It has made the managing of month-end close tasks a lot easier as everything from tasks to reconciliations can be entered as a task to complete and is easily trackable.

Cons

There is not much communication between FloQast and the ERP system aside from looking up account balances.

Excellent Product with Excellent Support

Pros

It's an excellent tool for accounting management to control the closing process and review reconciliations. The implementation was very easy setup by FloQast team. The administration part is very straightforward. FloQast provided great training and the program has been constantly updated with better tools and functions.

Cons

The calendar setup probably can be more flexible. We are trying to let our payroll team to use the closing process for bi-weekly payroll schedule but the calendar is more setup for accounting closing purpose with monthly, quarterly and annual calendar.

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.

Wonderful customer service! Great product for month end closes!

Pros

Gives me a great feel of where we are in the month end closing process without having to go around and bug my team to see where they are at or what they have left to finish.

GREAT customer service!! No matter who I contact, they are quick to email back and fix any issue.

Cons

Going back and forth between BOX and FloQast. If we had multiple additional hours to add all of our reconciliations to BOX, it might be helpful for year end close. We tried doing so when we first started using FloQast (when all uploads weren't carried forward month to month), but we haven't done any uploads recently.

FloQast gives me outstanding visibility regarding the close status and account reconciliations

Strong visibility and comfort regrading the status of the accounting close.

Pros

I like the reconciliation function that allows me to see the account reconciliation status and whether the recons have been reviewed and approved. The reconciliation tool integrates with NetSuite to identify unreconciled accounts and whether all the recons have been prepared, using a completeness check.

Cons

I find adding new subsidiaries, which includes a new checklist items, setting up recons and ensuring that storage provider is accurately set-up a challenge at times.

Great tool!

Our company has been using FQ for almost 2 years. Within that time frame, we've had a major company infrastructure change and I was able to work with Lilith to help maintain the smooth transition. She's been with us from implementation, and I'm glad she's provided continued support to this day. I cannot speak for all customers, but the support we received is well above avg. in response and resolution. The FQ team is constantly trying to improve their product and ask for feedback on anything. Features we asked about when we implemented are now a standard feature, which shows they are listening and are actively testing new features to bring to the standard product. Admins require some computer knowledge, mostly for setup, but FQ will help you every step of the way.

Pros

great support, easy to learn as admin, via internet

Cons

We use Box.com for our storage, and the issue we run into is our admins from implementation deleted folders because they didn't like that folder structure, so they decide to make changes, which FQ makes those folders unique, so when we deleted, it took a function away from us.

I like FloQast!

Pros

It helps the team to focus on close related items and manage reconciliations in more time efficient manner.

Cons

It does not provide any notification if the previous month reconciliation is out of balance.
It would be great if FloQast can show the comments or notes in separate column next to the checklist or reconciliation rather than hiding it.

Easy and great customer service

Pros

The software is very user friendly, everything is in one place and has easy audit trails. The customer service is excellent and there are very quick responses. They also have implemented many of our suggestions.

Cons

It would be nice to have aging for the reconciliations and the ability for customer fields in the checklists.

Great for global teams!

We started as a small team of me and two others, where I was doing the main account recs. We were not able to reconcile all the balance sheet accounts and the month-end close process was loose. Implementing Floqast forced us to put together a formal close checklist and allowed me to easily assign tasks to the others on the team and hold them accountable. We're now a team of six people in two countries and the visibility of Floqast across entities allows me to know exactly where we are in the close process and at what step we're running into issues.

Pros

I love the ease of use and ability to quickly add new users and entities. The user interface is well thought out and allows users to quickly learn the software.

Cons

I can't think of anything I don't like about Floqast.

Good tool to keep track

Pros

Keeps track of checklist and outstanding items, keeps updating changes in accounting software, highlights imbalances.

Cons

Desire for more - I would like to use the tool more on the analytics and enhanced review. Keen to see what new features keep coming in

FloQast makes my life so much easier. I have clients and don't know how I would manage without FQ!

Pros

The dashboard is a great way to stay organized and make sure all tasks and deadlines are met efficiently and effectively. The review notes are very handy for communicating any questions or comments to other team members.

Cons

I have found some of the administrative functions to be a little cumbersome but no issues with the basic user features.

Useful for Monitoring the Monthly Close

Pros

I've been using this product for about 8 months. I like that I can add my own monthly checklist items so that I never forget to do any deliverables during the close. I also like that I'm alerted via email when my accounts are out of balance; however, I get alerts for all accounts that are out of balance, not just the ones I'm in charge of, which is something I wish did not happen. It's also great that this software saves copies of all your files on their Box site. I've accidentally deleted a file on my company's shared drive that I had spent hours on, and being able to access this deleted file on Floqast's website made my day!

Cons

I've had a lot of syncing issues, which can be very frustrating when the software isn't recognizing files or files don't show up.

User friendly, I love it.

FloQast helped us streamline our month end check list and gave us a better structure to eliminate errors and be more efficient.

Pros

The sorting feature is great. I enjoy the ability to be able to see what I have due and whether or not it is complete.

Cons

Wish I could sort by other people. There are times when I am waiting on others to get a part of their job done before I can begin working on my task so using a filter to search by other individuals would be great.

FloQast is a user friendly tool that has helped us organize and control our close process.

Pros

The customer support team is fantastic- very helpful and the response time is instantaneous. The tool is also pretty user friendly and intuitive to use, this has allowed minimal downtime when adding new users and cut down on training time.

Cons

We experienced some minor road bumps with google syncing up on a delay but that was resolved. We look forward to all the updates and additional functionalities the developers are making.

FloQast has helped us better organize our close process and keep on track.

Pros

Sign offs, everything you need for review is in one spot. Integration with Intacct and box.com. High quality customer service.

Cons

This has more to do with cloud storage providers than FQ. We would like to be able to sync box.com (or another provider) with our server rather than having to save files directly, but have been unable to find a solution for this. Our IT policy does not allow us to sync from our desktops.

Probably one of the best products for accountants in years.

It helped us effectively transition from a quarterly close process to a monthly close process. Additionally, it has helped us to organize and streamline our balance sheet reconciliations while eliminating wasteful processes.

Pros

I love the hash-tag feature because it provides the user with the flexibility and computational power of Excel with the robustness of a reconciliation data warehouse. Additionally, the checklist feature is a great way to plan out your month and your financial close. We also use FloQast to capture audit evidence surrounding review and approvals. This has been paramount to our success in both internal and external audits.

Cons

I wish you could rename folders within the FloQast application; however, I have faith that this feature will be added with time.

Great Product and Customer Service!

This software has sufficiently helped and improved our close process. Prior to FloQast we were using excel timelines and calendars that we would forget to update. FloQast sends us daily reminders and updates each month to keep us up to date with the status of the close and how we can close the books faster in future months. The General Ledger connection to NetSuite has been a huge help to our process as well. This feature has allowed us to monitor and know when a balance changes in NetSuite and make sure we update our reconciliations and supporting documents accordingly. The customer service team is always very responsive and friendly. They clearly detail how to solve the issue. Thank you FloQast!