Overview
ProductRatingMost Used ByProduct SummaryStarting Price
BlackLine
Score 8.4 out of 10
N/A
BlackLine automates the the processes required to finalize periodic closing of the books. Beyond close/reconciliation management the product includes capabilities to enhance the management and control of financial processes throughout the accounting cycle. In October 2020, BlackLine acquired Rimilia, an AR automation solution. Rimilia's capabilities are now part of the BlackLine platform.N/A
FloQast
Score 9.3 out of 10
N/A
FloQast in Sherman Oaks offers their financial close software to streamline accounting month end close, simply providing automation around reconciliation and eliminating human error, and visibility via a close status dashboard, as well as providing a complete audit trail.N/A
Pricing
BlackLineFloQast
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
BlackLineFloQast
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeRequired
Additional Details
More Pricing Information
Community Pulse
BlackLineFloQast
Considered Both Products
BlackLine
Chose BlackLine
At the time of evaluation, FloQast just offered a web system that effectively did what we were already doing. It provided the ability to be SOX compliant which we didn't really need. Blackline offers a level of automation and integration unparalleled in the industry. We …
Chose BlackLine
Both are great products and I’ve used both. Successfully implemented FloQast to great success. Looking at the BlackLine approach currently due to size and complexity and my desire to build a best-in-class shop with appropriate scale and the potential for further enhancements …
Chose BlackLine
Better depth of product. You can have specific items in account reconciliations besides just an Excel spreadsheet. This increases the visibility of account reconciliations. You can use the reporting functionality to view each of these items, and classify them (temporary timing, …
Chose BlackLine
FloQast is cheaper, but Blackline is more automated and facilitates comparability between periods because it stores historical information side by side with current periods, whereas FloQast really only provided tie-out functionality within Excel documents. Those Excel documents …
Chose BlackLine
For FloQast, the answer is easy as they have built their platform around integration with existing Excel workbooks which is exactly what we were trying to get away from. Cadency has a lot of similarities to BlackLine and in some areas it had a more fluid UI experience however …
Chose BlackLine
Blackline outperformed both FloQast and Vena in our RFP. The staff felt that Blackline was the most user-friendly. Both FloQast and Vena try to sell you on linking to already saved documents instead of saving documents onto their systems. They're both more of an Excel …
Chose BlackLine
At the time, FloQast did not have the tasks function, which was important to us as we maintained our close process in an excel checklist. We were not able to know timely if all steps were completed.
Chose BlackLine
We also assessed the FloQast platform. We felt BlackLine offers more functionality which is why we chose the platform. FloQast was limited in what they offered and also did not automate reconciliations greatly as they would still be completed in Excel. BlackLine also has many …
Chose BlackLine
I have not used any of the other products, but we did evaluate them during our discovery phase. BlackLine was the "Cadillac" of the product offerings. You could get a similar product, and maybe even at a lower cost, but we wanted the best of the best, and that's what BlackLine …
Chose BlackLine
BlackLine has more internal control and matching module stands out.
Chose BlackLine
More mature, more robust, SOX compliant, secure, scalable, access control, multiple modules vs two
Chose BlackLine
user experience and customer service was better. Pricing was also favorable with the additional features. Account manager for our company is proactive in working with us, getting full attention. Great support and recommendations on how to implement other features of the …
FloQast
Chose FloQast
BlackLine has a lot of robust features, such as being able to push transactions into NetSuite as well as import bank transactions and NetSuite transactions for bank reconciliation matching. FloQast does not currently push any transactions to NetSuite. FloQast is way more …
Chose FloQast
I chose FloQast over BlackLine because we could easily pull reports from our CRM, ERP and other systems and use those as backup for reconciliations. When I reviewed BlackLine we had to enter everything into their system and it felt like we would be spending time duplicating …
Chose FloQast
Chalk and Cheese! BlackLine took months to implement with little adoption from our users, FloQast was an easy painless implementation, and it was very quickly adopted by our users. FloQast is also so flexible and doesn't require a lot of admin to manage the reconciliation …
Chose FloQast
I like both- I do like that BlackLine forces people to enter reconciliation lines in the actual module, versus just uploading an excel. However I like that FQ allows you to add review notes, and the review notes will email directly to people.
Chose FloQast
FloQast and BlackLine were very similar and the reason we went with FloQast was the ability to work with Google Drive and the lower time to implement.
Chose FloQast
FloQast provides support without getting in the way of the process (at the time of considering options, BlackLine got in the way with required journal entry park and post steps). It allows for enough flexibility to adjust between team members for sharing coverage in a small …
Chose FloQast
We evaluated BlackLine when we were considering Floqast. Although BlackLine is very robust and feature rich it was not right for us at the time of our review. We chose Floqast because:
1. It was simple to set up. We were up in running in a few weeks as compared to the 6 month …
Chose FloQast
We evaluated BlackLine along with FloQast and ultimately decided to sign up with FloQast. Our team really liked the ability to leverage their existing Excel reconciliation templates that could link to the FloQast user interface. Comparatively, the pre-made reconciliation …
Chose FloQast
I used BlackLine many years ago but found it to be a waste of time. I didn't like being required to use the BlackLine format for reconciliations. The one size fits all mentality never quite works out when it comes to accounting - every business does things a little differently. …
Chose FloQast
We found that FloQast fit well into our existing close process and made it much more efficient. Other rooms, such as BlackLine, required a longer and more costly implementation. It also required the use of their reconciliation formats. We did not see the value in that …
Chose FloQast
FloQast more than holds it own on pricing and is definitely a cut above in customer service and innovation.
Chose FloQast
The User Interface and implementation were the key drivers for choosing FQ compared to BL. Our team was up in a matter of days or so it felt! Even if you didn't get properly trained in FQ, you could easily figure it out on your own, which was nice, especially for a large team.
Chose FloQast
More dynamic, linked with tools we already use including g drive and excel
Chose FloQast
We selected FloQast because of how flexible it was and how easily it incorporated our existing excel workpapers into the system. It was also able to accommodate our ERP, despite not having a native integration for it.
Chose FloQast
FloQast is more user-friendly and flexible. The product is updated more frequently.
Chose FloQast
Lower cost for a much better, well organized software that on face value is far easier to use. It meant we didn't have to drastically change our close process too much whilst implementing a new system
Chose FloQast
FloQast is much easier to use. The system is user friendly which is very beneficial when you are or are training new employees. I think the use is extremely streamlined so there is no question of where the company is at in the closing or reporting process. The …
Chose FloQast
We selected FloQast because we found it much more intuitive to use, while meeting our needs. The customer experience with FloQast throughout the software review process was also more pleasant.
Chose FloQast
FloQast is easy to implement and keeps the accountant in excel
Chose FloQast
Cost and seemed so complicated to launch
Top Pros
Top Cons
Features
BlackLineFloQast
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
BlackLine
8.1
56 Ratings
2% below category average
FloQast
8.5
107 Ratings
3% above category average
Financial data consolidation7.624 Ratings9.066 Ratings
Journal entries and reports8.439 Ratings8.151 Ratings
Multi-currency management7.626 Ratings7.236 Ratings
Detailed Audit Trails8.750 Ratings8.976 Ratings
Customizable Workflows8.033 Ratings9.391 Ratings
Best Alternatives
BlackLineFloQast
Small Businesses
Tipalti
Tipalti
Score 8.0 out of 10
Tipalti
Tipalti
Score 8.0 out of 10
Medium-sized Companies
FloQast
FloQast
Score 9.3 out of 10
Cube
Cube
Score 9.0 out of 10
Enterprises
FloQast
FloQast
Score 9.3 out of 10
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
BlackLineFloQast
Likelihood to Recommend
8.9
(241 ratings)
9.5
(122 ratings)
Likelihood to Renew
9.1
(21 ratings)
9.1
(5 ratings)
Usability
8.1
(51 ratings)
9.2
(5 ratings)
Availability
9.1
(1 ratings)
9.1
(2 ratings)
Performance
9.1
(1 ratings)
9.1
(2 ratings)
Support Rating
8.7
(134 ratings)
10.0
(9 ratings)
In-Person Training
-
(0 ratings)
9.1
(2 ratings)
Online Training
8.2
(2 ratings)
8.1
(2 ratings)
Implementation Rating
8.9
(7 ratings)
9.1
(3 ratings)
Configurability
-
(0 ratings)
8.6
(2 ratings)
Ease of integration
-
(0 ratings)
9.1
(2 ratings)
Product Scalability
9.1
(1 ratings)
8.6
(2 ratings)
Vendor post-sale
-
(0 ratings)
9.1
(2 ratings)
Vendor pre-sale
-
(0 ratings)
9.1
(2 ratings)
User Testimonials
BlackLineFloQast
Likelihood to Recommend
BlackLine
BlackLine has worked well for our companies, as we have a very old ERP system that is limited to what can be done within the system. Everything was done manually through Excel and binders to keep everything together, and each location had their own way of closing, so there was no consistency. It took longer to complete our close, and it created opportunities for a lack of separation of duties within the process. BlackLine has everything in one place, easy viewing of past months, strict separation of duties implemented (based on your specifications,) easy viewing for an auditor to get everything they need without a lot of hands on from the team, and works the same across all of our global locations, but in their local language and currency. BlackLine may not be a huge assist to those that have ERP systems that can handle doing the Recs, the JE's, the approvals, etc., all within its own system, as long as every location is on the same system. If they are all on different accounting systems, BlackLine can assist in providing consistency across all accounting locations, so processes can be the same no matter where they are located.
Read full review
FloQast
If complex close items need to be done in the correct order or multiple subs, FQ makes it a breeze to track. If your close is simple, or done with only a few people, their system might not be a great benefit. With a team of 20, we need a tool like this to keep everyone on the same page!
Read full review
Pros
BlackLine
  • 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
Read full review
FloQast
  • Provides a clear status of the month end close.
  • Allows us to analyze tasks by team member and reassign as needed.
  • It syncs with our ERP Netsuite to ensure balance sheet reconciliations can be tied out directly.
  • It also connects with Slack to notify users of key deadlines and changes in review status for team tasks.
Read full review
Cons
BlackLine
  • Early functionality for Oracle users - a lot of the new products are only for use by SAP users.
  • Access to API data to improve the reporting of data out of BlackLine.
  • Ability to create reports in BlackLine across data sources.
  • Ability to email reports out of BlackLine (either ad-hoc or scheduled reports) as opposed to the current process of having the user access BlackLine to retrieve the report.
Read full review
FloQast
  • A setting to allow for attachments to automatically be opened within the app (Adobe, Excel, etc.) rather than as a separate tab in the browser
  • Some of our tasks are quarterly or annual so assigning a very specific date would be helpful
  • Eliminate the need of "closing" review notes. Once we change the status to Resolved, that should be sufficient. Make Resolved and Closed one and the same
Read full review
Likelihood to Renew
BlackLine
Because this is a great tool with many possibilities and cool perks. Plus, as an admin - because I am both user and admin - I can say that this is easy to handle, you don't even have to be able to write a single piece of code to do so
Read full review
FloQast
It has proven to enhance our procedures with closing. It is an effective tool that I would recommend to create a more efficient closing procedure and get the team more aligned. It increases the accountability among the staff and helps to keep us on task and on time. It is easy to sign into and has reminder emails for tasks that are coming up or late.
Read full review
Usability
BlackLine
BlackLine could use a little work in getting around the system. The interface is not without its issues including lots of scrolling up and down and a lack of using the entire screen. Importing of the initial setup data could be better defined and reimporting data to add additional fields could pose an issue of overwriting data in a negative way.
Read full review
FloQast
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
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Reliability and Availability
BlackLine
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.
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FloQast
We have only noticed a slight slow down in accessing FloQast on a couple of occasions (near the beginning of a month when many people were likely trying to get online to close their books). The issue has always resolved itself with three to five minutes, so it's never been a hinderance.
Read full review
Performance
BlackLine
BlackLine performs rather quickly considering the amount of data we were pushing in and out of it.
Read full review
FloQast
FloQast's performance is great. The pages always load quickly, and reports are completed fast! I've never noticed any slowdown in our ERP from the interface with FloQast.
Read full review
Support Rating
BlackLine
In my experience, the support team is beyond exceptional. They are incredibly knowledgeable and dedicated to the customer. You can expect prompt, professional and succinct responses. I have been working with the support team for BlackLine for more than ten years where I have been a customer four times. If anyone does Support right, it is definitely BlackLine. Not only can you trust your financials, but you can trust the team to support you through all your objectives!
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FloQast
They are rapid in their response. If they can't immediately offer a solution, they continue to keep in contact with you to let you know where they are in resolving your issues. The staff is friendly & speaks to you in layman's terms, not so high-tech that you can't understand
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In-Person Training
BlackLine
No answers on this topic
FloQast
The FloQast team members are just so personable. FloQast has clearly done a great job hiring people who are not just good at what they do, but are also fun to work with! They have placed people in the right roles and the customer benefits from this. I have enjoyed every opportunity I've had to work with a FloQast team member on training.
Read full review
Online Training
BlackLine
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.
Read full review
FloQast
The online training is good. But like all online, pre-recorded training, it is never quite as good as in-person or live training where one can ask questions or get clarification. That said, FloQast has an extensive training library and most of the time, if one finds they need help on a topic, it can be answered by going to the online training and watching appropriate recording.
Read full review
Implementation Rating
BlackLine
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
Read full review
FloQast
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)
Read full review
Alternatives Considered
BlackLine
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.
Read full review
FloQast
We evaluated BlackLine along with FloQast and ultimately decided to sign up with FloQast. Our team really liked the ability to leverage their existing Excel reconciliation templates that could link to the FloQast user interface. Comparatively, the pre-made reconciliation templates that were demonstrated in BlackLine felt a bit more inflexible and felt like it would invite a longer implementation/conversion timeline.
Read full review
Contract Terms and Pricing Model
BlackLine
No answers on this topic
FloQast
I did not help in the purcase
Read full review
Scalability
BlackLine
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.
Read full review
FloQast
We started using it with one client/customer and now use it with fourteen entities and plan to add two more in the next couple of months. It has made it possible to grow our business without hiring additional personnel. We can do more work with the same number of people
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Return on Investment
BlackLine
  • 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.
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FloQast
  • ROI has been quick. Using Floqast we were able to put off hiring additional headcount for a year due to the efficiencies we were able to garner.
  • Floqast also helped with change management and process documentation. It centralized work papers into one easy to find location where in the past workpapers were disorganized.
Read full review
ScreenShots

FloQast Screenshots

Screenshot of View Progress Throughout the Close with AnalyticsScreenshot of Flux AnalysisScreenshot of Reconciliations