FloQast Reviews & Product Details - Page 4

The best part about FloQast is their customer service - it is the best. They listen, they want to help, they want to partner and seek a solution. The implementation went well with the initial team. Now on "steady state" they continue to partner and work through next steps for optimizing the tool.

The tool as a whole is easy to administer and user adoption has been huge largely because it is intuitive and easy to use. Review collected by and hosted on G2.com.

I fear we are already out of capacity with Floqast. Because of size and grouping limitations (which Blackline did warn me about), we do not have the automation and efficiencies I had hoped to gain. As a note - we are not that big, comparability, in our industry, we are the smallest and not even close to mid-size. So the sizing limitations and workarounds have been bothersome. I did ask these questions in the scoping and was assured we would not have an issue.

The implementation used old checklists. While we were clear a new one was coming, the implementation team was too motivated to start. This resulted in the wrong checklists loaded, we tried to fix multiple times and this resulted in a lot more manual efforts on our side to fix. It is not working as intended but could have been avoided if the implementer listened and said they had a draft during the scoping and we would provide the final.

These limitations are manifesting as we are trying to implement other tools, such as Flux resulting in another workstream and lack of automation or completeness to make it as efficient as it could be. The flux/variance has a way to go before it will save us time. Of highest priority is rolling comments and seeing multiple flux together ( QoQ, Q to Budget, Q to Sequential Quarter) as an example. Review collected by and hosted on G2.com.

The ease of use. Reconciliations can stay in the format that we were used to. We did not have to conform to a standard format that they dictated. Review collected by and hosted on G2.com.

The inability to link across companies. We have 57 companies and numerous intercompany transactions. I simply want to know that they net to zero and then we are in balance. We did find a solution, but it required a third party to pull the balances from our ERPs and push to a consolidated company so we can review and see that they net to zero Review collected by and hosted on G2.com.

The Reminders are a signficant help as I have a lot of asks throughout the month. Review collected by and hosted on G2.com.

The ony downside that I hav is with he Flux Analysis doesn't give you the option to upload a file to help explain the reasoning for the flux.Seeing the back up helps give a beterr understanding. Review collected by and hosted on G2.com.

-Organization of close tasks in a single place

-Integration to NetSuite to ensure that everything still reconciles when we lock

-Slack integration and email reminders for out-of-balance reconciliations, review notes, etc. Review collected by and hosted on G2.com.

No major downsides that I can think of. I occasionally notice a feature that could be improved, but overall, it's one of my favorite software solutions. Review collected by and hosted on G2.com.

-to do List, always know what your next task is.

- Everything all in one place.

-clear ownership of tasks so nothing is left behind.

-Ease of use of the product. navigation is clear. Review collected by and hosted on G2.com.

-For non-close workflow, it is difficult to tie a document in a documents folder to a checklist item. (you can attach it directly to the checklist item, but then its not visable in the Documents Folder. I feel like a detailed linking methodology or tagging could be really useful (kind of like your FQ# system for close). Review collected by and hosted on G2.com.

The most helpful items of FQ include:

- Holds team members accountable for close and non-close items

- Enables real time status tracking to ensure closing on time or beating our timeline

- Ability to add long term projects for tracking

- Listening to customer feedback and making improvements based on it Review collected by and hosted on G2.com.

Its bank reconciliation feature has the ability to identify what is missing from a matching perspective, but doesn't propose the entry to be booked.

The flux report does not load timely, often breaks (i.e will not load), and does not auto-refresh Review collected by and hosted on G2.com.

FloQast is extremely easy to use, update, and manage. The interface is intuitive, easy to navigate, and not overly complicated or clunky. The software itself does an excellent job of interfacing with month-end checklists and reconciliations and provides solid real-time KPI's and audit reports. Review collected by and hosted on G2.com.

There is nothing major that I do not like about FloQast. While my team doesn't use the full scope of services offered by FloQast (e.g., auto-recon, amortization of prepaid schedules, etc.) we have found increase visibility into progress, pain points on timing of interdependent tasks, and an overall quicker and better documented close! Review collected by and hosted on G2.com.

The best part of FloQast is that it is a plug and play kind of software. It is easy to use right out of the box and easy to train others on the platform. It also is a great management tool to keep everyone on track and focused throughout all of our regional teams. Having 8 different regions we have accounting books in it is so great to have a tool like FloQast that centralize all of our tasks for us. Review collected by and hosted on G2.com.

The biggest downfall of FloQast is the flux analysis tool. There is definitely a lot of upside to the flux tool but there are some limitations with this. The 2 biggest being 1: FloQast does not have the capability to convert different currencies into USD and 2. We can not add in calculations/ratios into our Flux tool including inventory turnover calc or % of AR reserve to total AR. Review collected by and hosted on G2.com.

I love how easy it is to see where we're at in a glance, add new recurring or one-time checklist items, update reconciliations, almost anything. Maintaining a close checklist in excel is fraught with errors, version control, rollforwards, etc. FloQast gets rid of all these issues and provides a dashboard with an overview of the close status. We also use it for recurring weekly and bi-weekly tasks, such as cash flow forecasting, payroll entries, and expense reimbursements.

FloQaqst ReMind has helped us to eliminate mass emails - we set up recurring emails to remind people to submit expense reports, request information around incentive-based comp from owners, and reach out to our lenders for supporting documentation. It saves so much time!

FloQast took us less than 6 weeks to implement and the process was simple. The tool integrates well with Sage Intacct, our ERP, and gives us real-time results of JEs simply by hitting the refresh button.

The best thing about FloQast, though, is the customer support. I have never encountered another vendor so eager and willing to help. The tool in constantly evolving and my success manager always keeps me updated. They also love hearing about new use cases, so when I tell them I want to leverage a function for something different, they get excited!

It's a great tool and a fantastic company - you can't go wrong with them! Review collected by and hosted on G2.com.

I found the stub periods cumbersome to use relative to the rest of my experience. You have to get support to re-upload the TBs rather than being able to refresh on your own. Review collected by and hosted on G2.com.

FloQast is extremely easy and simple to use; while being highly effective. The checklist and reconciliation tools have been a game changer for moving forward our close, in terms of team collaboration, automation of the responsibilities, and holding each other accountable to move through the close process. The variance analysis has also helped tremendously in pulling our accounting function out of just reconciling and into understanding; and the FQ variance analysis reports automatically update each month which means there is no admin work to build monthly. FQ is extremely reliable and never ever has admin issues. It is easy to use and you can learn to become an expert in hours. Review collected by and hosted on G2.com.

Licensing is expensive and adding more users means potentially significant incremental costs. The checklist, reconciliation and variance analysis are fairly straight forward and despite how reliable and effective these tools are, the cost feels high. Review collected by and hosted on G2.com.