FloQast 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.
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ibi WebFOCUS
Score7 out of 10
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The ibi™ WebFOCUS® product is an enterprise business intelligence and analytics solution equipped with data management, visual discovery, predictive analytics, and visualizations. Combining these capabilities and data science in one unified containerized platform, the WebFOCUS® solution can be used to make data-driven decisions across the enterprise and provide reports, dashboards, and customer-facing applications at scale.
I used another vendor for close management before, and comparing the two, FloQast is easier to use and the site navigation is much easier. The looks and feels of the site are more engaging and pleasant. As mentioned before in the previous question, their Journal Entry posting functionality is not suited for a company with multiple entities since it only allows you to book an entry when debits and credits are hitting the same entity
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
I would less recommend it because it looks like IBI is receding a bit from the European market. I would not be certain for future support. Knowledge in the market in western Europe is limited Functional wise the application suits almost all situations. I would for sure recommend it purely based on its capabilities
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
One thing that has always been good at WebFOCUS is how they interact with the customer on items. They take suggestions and implement them. In addition technical support is timely and very detailed.
I think they keep up with and lead in implementing new technologies in the BI space. One case of this are the ability for user to create their own easy dashboard using the green plus buttons. Also the ability to link d3 into and have the ability to implement new types of graphs is nice.
I have been to a spoke at one of their user conferences and they are worth going to. In addition to all of the great seminars the interaction you get with vendors and other users is key in the growth of your knowledge. I've learned so much for my time at these conferences.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
The newest versions of WebFOCUS have an unnecessarily complicated security layout that makes configuration difficult to accomplish without bringing in the vendor for installs.
This software tries to cover too many bases allowing you to switch from writing code manually to creating reports using only GUI tools. This sometimes complicates screens and functionality where the two methods don't always work well together. -though its nice to have the choice.
The sales force is not as top notch as many software companies
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
This software is deeply engrained with my organization and has become a tool that would not easily be replaced without spending more money and resources to get the same results. License cost is comparable to other report writing tools and the capabilities are greater than the competition without having to buy multiple apps to do the same thing.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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
Best BI tool/product I have used. The others don't compare overall. Some can look fancier, but when you actually use them with large data and data from numerous systems/sources that is where most of the competition falls away. I also don't like downtime. I have basically none for a large user base with WebFocus. Even SAP Crystal Reports went down for 4 days once - 4 days because the admin password got locked out due to a glitch and we had zero reports for 4 days. WebFocus has never had more than a few minutes of downtime. It's like a tank that just keeps rolling. There is no other choice for reliable BI.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
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
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
They have extremely knowledgeable techs that I have worked with over the years. Some have actually become really good friends of mine. I see them often at local user groups and when we show them how we are using their tools to save millions of dollars throughout the company
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
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.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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)
Plan ahead on what data will be accessible and the type of security required on the database and if you will want to use security that is built into the software. It is worth consulting with the vendor on what your plan is and how they recommend you proceed in order to get results you are happy with.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
At the time we picked FloQast, they were the most cost effective and easiest tool to use. Fast forward a little bit, and Numeric has come to market. I really lie Numeric to be honest and feel that their pricing is better and for that lower pricing, they include more functions. However, we continued with FloQast for ease of continuity and my team is time strapped. What that said, FloQast is great - nothing wrong with it other than it could be cheaper.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
Webfocus handles the side of our business that is involved with our catalogs. Our catalogs is a huge revenue driver for us and this tool has been extremely useful with planning feature catalogs. Tableau is used more for marketing and merchandising purchases since we can filter data based on website sales.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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
Floqast has reduced our closing schedule by roughly 15-20% of the time it took us beforehand.
The product has been very beneficial for us during audit time when we can easily demonstrate our control workflows on reconciliation and task approvals.
I can update our CFO at any point in time how we are trending towards close and can coordinate with finance as to the moment journal entries have been completed
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
We are not yet a success story. Though we've been implementing WebFOCUS for over a year, we have very few products in our Production portal. Of course, this is not all the responsibility of Information Builders, but we were ill-advised by our 'training coordinator' in our training of staff and coming up to speed with the tools has been very slow.
Once skilled analysts and professional IT staff achieve a grasp of the products, they are able to very quickly create polished and well-received products.
The DW/BI project has helped us to establish standards and protocols of communication that will allow us to more quickly meet knowledge transfer requirements
