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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Microsoft Dynamics AX (discontinued)
Score4.8 out of 10
N/A
Microsoft Dynamics 365 for Finance and Operations (or Dynamics AX) was an ERP product in the Dynamics family. It has been split into separate Dynamics 365 products and is no longer available.
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
It integrates fully with the other Microsoft software we use daily, and this coordination speeds up our work and gives us the agility to run easily. For example, in a purchase inquiry, the customer, after submitting a request, identifies the teams that should work on the project, and if they need further review by other people, they are added to the process, and everything is managed seamlessly rather than the sales process. Get the result as fast as possible.
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
Microsoft Dynamics AX's scalability to meet our regional office needs provide flexibility to the team's requirements.
Combined with Citrix Xenapp, the application offers seamless access for users on high latency unreliable network connection to the application.
Application maintenance and updates are easy which makes it possible for us to manage remotely considering the servers are located in a remote Asia site.
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
MRP can be slow to adapt to changes in actual production or supply chain transactions.
Setting up number sequences seems a trivial matter, but these numbers ID transactions once they are in the ledger and are key--easy to miss this point in the implementation process.
Bank rec being easily automated and able to quickly plug into a bank back end to get data is not the best.
Payment processing can be 'clunky' based on checks, ACH, Wires...as some of these items are not triggered out of the box in AX, bur are easily added --talking ACH and Wires specifically.
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
Microsoft Dynamics continues to evolve by bringing more functionality to the customer. Also there are several independent software providers that offer a wide range of solutions for vertical markets.
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
Overall the product does what we need it to do in order for us to function as a company. While there are some concerns over ongoing costs, the belief is, once we have it fully acclimated to our business the cost should settle into alignment with our original expectations. The new features that are consistently being added do add value to the product as they are usually customer request directed.
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
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.
Some integration and high volume ramping challenges, particularly with BizTalk and SQL Server, but getting sorted out. Outages over time appeared to be more dependent on integration complexity than AX MES.
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.
Some integration and high volume ramping challenges, particularly with BizTalk and SQL Server, but getting sorted out. Outages over time appeared to be more dependent on integration complexity than AX MES.
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
We use a 3rd-party Microsoft Partner for the system. They are responsive and very knowledgeable. While costs have been mentioned several times in this review they are very aware of costs and have developers who are more economical they use to help offset the level of work required to meet our changes and fix our issues.
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 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.
It took a lot of work, but Microsoft ultimately did a good job with in-person training, including being onsite in multiple global locations for extended periods.
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.
Our solution deviated from a number of key out-of-the-box standards that were included in Online training. We just used that for introduction to the general functionality.
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)
Some rough spots, but ultimately worked out. The contract didn't appear to be structured to support the level of overlapping facility deployments required to meet timeline commitments. Merging cultures on the program was also challenging. Overall, not an easy implementation by any stretch. Everyone did the best they could.
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
I was not part of the decision making process to select Microsoft Dynamics AX, however, I do know that an exhaustive search was done and many options were considered alongside Microsoft Dynamics AX and I feel that the right decision was made in choosing this solution.
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
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
