BlackLine vs. FloQast

BlackLine is a very robust system and is capable of improving processes. However, it does take time and resource investments. If companies do not have the time and resources and are not willing to invest time and resources, this product will not solve their issues. This is an investment and can be an incredibly powerful tool; however, it won't do the work without guidance. The level of engagement and size of project may evolve over time, however, companies need to understand that it is not an overnight success, but the success that can be achieved in the long run is worth it. I also recommend working with a seasoned implementation partner on a new project. As a company develops the skills to lead the transformation, a partner may not be needed as much, but it is definitely recommended to start.

FloQast is excellent in helping you to manage your month end closing processes and to help auditors with their review process. Auditors can have limited access to ensure GAAP is followed (segregation of duties, etc.). During month end, you can tell on the fly just where we are in the process and who or what is still outstanding. This also let's you know who may need help in prioritizing and managing workloads.

• Saving time! Our manual process became automated the minute we "turned on" Blackline!
• Focus! By saving time using Blackline, our employees are able to focus on other job responsibilities and profit-generation
• Support! Blackline's support throughout our implementation and post-implementation has been exceptional. We always receive timely responses and get answers fast, when needed
• User Friendly! Their system is very easy to navigate. Even individuals in our organization that don't like or embrace change said the transition to Blackline was smooth and painless

• Close Checklist: by maintaining a detailed close checklist, FloQast allows us to have full visibility into each of our clients' close process.
• Cloud-based: since FloQast is a cloud-based solution, it allows our team to work remotely.
• Ease of Integration with Sage Intacct: we can easily load account balances due to the open API between our ERP (Sage Intacct) and FloQast.

• In the master journal entries, it would be nice if you could insert a line without having to rekey the entire entry over again.
• Before I would have said the "to-do list" needed improvements, but now it is so easy to tell what I need to look at instead of searching each section for items.
• It would be great if the "certify - next" worked on all reviews

• FloQast is an excellent tool that everyone should have in their company but could improve the characteristics of the calendar making them more adaptable to the user.
• Be easier to connect with other tools.
• Include new items in the checklist such as configurations and reconsiderations.

BlackLine is invaluable to our close process. The time saved from moving paper and auto-certifying can be used for better review of the data. It allowed our CFO and Board of Directors to have confidence that our close process was timely and accurate.

I personally can't imagine doing business without it now.

There are some processes that we currently use that cannot be done in BlackLine. Our users don't want to change their processes or learn new processes even though it would make their jobs easier. We have very few users who have adopted BlackLine fully, and management has not made it a requirement to use the application.

FloQast is incredibly intuitive and easy to use. The only reason I don't give it a 10 is that the Flux Analysis feature is not great in terms of getting the information into the system. Once it's in, fantastic! But some work is needed

We never experienced an outage with BlackLine. The only time the system was unavailable was during planned outages for updates and upgrades usually Friday evening after 6pm pst until Saturday morning at 6am pst.

BlackLine performs rather quickly considering the amount of data we were pushing in and out of it.

My conversations with vendor representatives and our account managers have all been very positive. They provide solution suggestions that are tailored to our organization and requirements. Questions are answered quickly. The company seems genuinely interested in seeing our organization succeed, not only in the implementation and use of their product but also financially.

Our experience with Customer Support has been great. We have not had any issues in communication nor in assistance from the customer service team. They have always been helpful in assisting us with either technical issues, set up of new users, simple questions regarding updates or complicated ones about integrations.

Trainings are available for all topics on the BlackLine U portal. These were incredibly helpful when first starting with BlackLine to get the hang of it. Trainings are useful for any module. I have personally used this to teach myself how to use the tasks and variance modules, which are now fully utilized by my organization. The support team is also very helpful in training our team on anything additional we have needed.

You will have to meet up with your final users, approver, internal auditor and accounting policy holder. Everyone has to agree. When you have a well written process, workflow, policy, approval requirement, and control, your implementation process will be much easier

Implementation occured before I started with the company (but despite the instruction to skip the question if I did not participate, the site required I put in a rating in order to move on to the next page)

I have not used any products similar to Blackline. However, Excel does offer many similar functionalities to Blackline in terms of reconciling accounts. Blackline offers many benefits over simply using Excel. The reconciliations are organized and easy to find, and they roll over each month on their own. They include the ability to auto-certify if they meet the criteria that your team selects. They also include an audit trail of documentation and approval for each step.

We have not used or evaluated any other products besides using an Excel file that is shared by the accounting team. When there is a dedicated software that has assigned tasks and will flag balance sheet schedules that don't match, you are forced to correct them. If done by Excel, there is no check for these and it gets harder for people to follow through to using Excel.

After implementing BlackLine our company acquired another large company with multiple operations. We were able to use the COVID shutdown to bring them on board with BlackLine with little effort in the setup and training of the users.

• More insight into balance sheet account balances. Our team is more timely with getting errors fixed and monitoring important accounts.
• The task management tool helps us ensure that we are completing all accruals and reviews each month. This has led to fewer errors and missing accruals.
• Our use of BlackLine has greatly increased our efficiency by reducing manual work.

• Certainly ROI - The amount of time "wasted" prior compared to how quickly things are done now allows us to free up time for other projects and necessary tasks.
• FloQast allows for minimal stress in the closing process. Everything is laid out.