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.
N/A
Microsoft Teams
Score 8.1 out of 10
N/A
Microsoft Teams combines video conferencing software with team collaboration tools. The communications platform allows MS Office users to conduct conference calls and share files via SharePoint, and join or initiate a group chat.
$4.80
per month per user
Pricing
FloQast
Microsoft Teams
Editions & Modules
No answers on this topic
Microsoft Teams Essentials
$4.80
per month per user
Microsoft Teams Enterprise
$5.25
per month (paid yearly) per user
Microsoft Teams Enterprise
$5.25
per month per user
Microsoft 365 Business Basic
$7.20
per month per user
Microsoft 365 Business Standard
$15
per month per user
Offerings
Pricing Offerings
FloQast
Microsoft Teams
Free Trial
No
Yes
Free/Freemium Version
No
Yes
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
Required
No setup fee
Additional Details
—
Discounts are available for non profit organizations.
More Pricing Information
Community Pulse
FloQast
Microsoft Teams
Considered Both Products
FloQast
Verified User
Manager
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 …
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
It's amazing as a daily driver for team communication, and document search/store. Also, if you're doing a lot of LONG meetings and have trouble remembering details, the AI summarization is amazing and convenient. It just works. I'm not saying I always do this, of course, but if I need to 'skim' instead of really digging into every detail from a meeting, the AI-generated summary is generally good enough that I can get away with it.
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
The webinars feature has some missing functionally such as the ability for all users to use the Q&A feature (only those with a Microsoft Teams account can use it now), the ability to upload documents for attendees to easily access and download, and the ability for presenters and organizers to easily chat amongst themselves throughout the webinar.
The "Channels" organization hierarchy could be more clear. If you have several channels set up, it can get clunky and hard to find the specific channel you are looking for.
The MS Planner tool lacks functionality and organization. You cannot assign more than one person to a task and it's confusing when you try to share tasks with people - it would be nice if they were automatically added to someone's calendar.
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.
Microsoft Teams is included with our Office 365 subscription and we have no intention of migrating off of Office 365 and Microsoft products. Since Microsoft Teams is included for free with our Office 365 subscription, and since we enjoy all the features, benefits, and functionality, there is no question that our team will continue to use the product
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
If you have the full Microsoft Office suite, it works really well because it's integrated well within its ecosystem, but if not, it can be annoying because it tries to open a shared file in the web versions of the file equivalents. The web version is also a bit slow, and the login is very difficult to handle if you have multiple Microsoft or Outlook accounts.
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.
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
The overall support provided by Microsoft for Microsoft Teams has been quite good but there is still some room for improvements. Microsoft needs to proactively work on fixing the open bugs in order to provide a seamless experience to the users. But over the service and experience provided by the Microsoft team have been quite satisfactory.
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.
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)
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.
Microsoft Teams offers a much more integrated experience between their chat and video call function compared to Google Chat and Slack. Both other tools are much better for internal communications are they have simpler UI without other features. Whereas Microsoft Teams can be used for more critical conversations, particularly between external companies, and has been very useful in sales conversations which is what we chose it for when speaking to companies that work exclusively through Microsoft.
Honestly, this tool is worth every penny. Yes, it's not free and you pay for the quality of services and the license. But the ROI and the benefits are all there. Also, the renewal, negotiation, and contract terms are all very well explained by our Microsoft account manager, and she's a charm.
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
I used Skype for Business to take calls, hold conferences, and provide remote assistance to users. Microsoft Teams, on the other hand, is superior to Skype for Business in my opinion. My job entails a lot of screen sharing.
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
Personally, I would say that by using Microsoft Teams, it upped my collaboration with my colleagues by around 50% or around more than half of what I usually did prior to using it.
I had 100% show rate and attendance on all of my meetings in the past 6 months.
If I may add, I also have been chattier & collaborative towards my colleagues in past 3 months particularly the month of December when we had huge traffic at work. I would estimate this behavior to have been increased by around 60% than what I usually incur during normal operating days.
