FloQast vs. Planful

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
FloQast
Score 9.3 out of 10
N/A
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
Planful
Score 8.5 out of 10
Enterprise companies (1,001+ employees)
Planful is a cloud-based enterprise performance management (EPM) suite. It includes financial applications for modeling, planning, consolidation, reporting and analytics.N/A
Pricing
FloQastPlanful
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
FloQastPlanful
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoYes
Entry-level Setup FeeRequiredNo setup fee
Additional Details
More Pricing Information
Features
FloQastPlanful
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
FloQast
8.5
107 Ratings
3% above category average
Planful
7.6
79 Ratings
6% below category average
Financial data consolidation9.066 Ratings9.671 Ratings
Journal entries and reports8.151 Ratings8.454 Ratings
Multi-currency management7.236 Ratings8.047 Ratings
Detailed Audit Trails8.976 Ratings7.856 Ratings
Customizable Workflows9.391 Ratings00 Ratings
Intercompany Eliminations00 Ratings7.646 Ratings
Minority Ownership00 Ratings4.523 Ratings
Local and consolidated reporting00 Ratings7.557 Ratings
BI Standard Reporting
Comparison of BI Standard Reporting features of Product A and Product B
FloQast
-
Ratings
Planful
7.8
32 Ratings
3% below category average
Pixel Perfect reports00 Ratings8.414 Ratings
Customizable dashboards00 Ratings7.428 Ratings
Report Formatting Templates00 Ratings7.626 Ratings
Ad-hoc Reporting
Comparison of Ad-hoc Reporting features of Product A and Product B
FloQast
-
Ratings
Planful
7.9
59 Ratings
5% below category average
Drill-down analysis00 Ratings8.657 Ratings
Formatting capabilities00 Ratings7.258 Ratings
Report sharing and collaboration00 Ratings7.854 Ratings
Report Output and Scheduling
Comparison of Report Output and Scheduling features of Product A and Product B
FloQast
-
Ratings
Planful
7.5
47 Ratings
9% below category average
Publish to Web00 Ratings7.112 Ratings
Publish to PDF00 Ratings7.843 Ratings
Report Versioning00 Ratings6.027 Ratings
Report Delivery Scheduling00 Ratings9.230 Ratings
Data Discovery and Visualization
Comparison of Data Discovery and Visualization features of Product A and Product B
FloQast
-
Ratings
Planful
6.3
22 Ratings
19% below category average
Pre-built visualization formats (heatmaps, scatter plots etc.)00 Ratings6.215 Ratings
Predictive Analytics00 Ratings6.518 Ratings
Access Control and Security
Comparison of Access Control and Security features of Product A and Product B
FloQast
-
Ratings
Planful
9.1
58 Ratings
4% above category average
Multi-User Support (named login)00 Ratings9.652 Ratings
Role-Based Security Model00 Ratings8.950 Ratings
Multiple Access Permission Levels (Create, Read, Delete)00 Ratings8.951 Ratings
Report-Level Access Control00 Ratings8.09 Ratings
Single Sign-On (SSO)00 Ratings9.943 Ratings
Mobile Capabilities
Comparison of Mobile Capabilities features of Product A and Product B
FloQast
-
Ratings
Planful
7.4
25 Ratings
8% below category average
Responsive Design for Web Access00 Ratings7.423 Ratings
Dashboard / Report / Visualization Interactivity on Mobile00 Ratings7.515 Ratings
Budgeting, Planning, and Forecasting
Comparison of Budgeting, Planning, and Forecasting features of Product A and Product B
FloQast
-
Ratings
Planful
8.7
106 Ratings
4% above category average
Long-term financial planning00 Ratings8.793 Ratings
Financial budgeting00 Ratings9.0105 Ratings
Forecasting00 Ratings8.798 Ratings
Scenario modeling00 Ratings8.085 Ratings
Management reporting00 Ratings9.1102 Ratings
Financial Reporting and Compliance
Comparison of Financial Reporting and Compliance features of Product A and Product B
FloQast
-
Ratings
Planful
8.1
106 Ratings
2% below category average
Financial Statement Reporting00 Ratings8.589 Ratings
Management Reporting00 Ratings9.199 Ratings
Excel-based Reporting00 Ratings8.398 Ratings
Automated board and financial reporting00 Ratings7.672 Ratings
XBRL support for regulatory filing00 Ratings7.13 Ratings
Analytics and Reporting
Comparison of Analytics and Reporting features of Product A and Product B
FloQast
-
Ratings
Planful
7.2
61 Ratings
11% below category average
Personalized dashboards00 Ratings7.553 Ratings
Color-coded scorecards00 Ratings7.231 Ratings
KPIs00 Ratings8.540 Ratings
Cost and profitability analysis00 Ratings9.441 Ratings
Key Performance Indicator setting00 Ratings7.431 Ratings
Benchmarking with external data00 Ratings3.18 Ratings
Integration
Comparison of Integration features of Product A and Product B
FloQast
-
Ratings
Planful
7.8
97 Ratings
7% below category average
Flat file integration00 Ratings9.669 Ratings
Excel data integration00 Ratings7.789 Ratings
Direct links to 3rd-party data sources00 Ratings5.964 Ratings
Best Alternatives
FloQastPlanful
Small Businesses
Tipalti
Tipalti
Score 8.0 out of 10
IBM Planning Analytics
IBM Planning Analytics
Score 8.4 out of 10
Medium-sized Companies
Cube
Cube
Score 9.0 out of 10
Centage
Centage
Score 9.6 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 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
FloQastPlanful
Likelihood to Recommend
9.5
(122 ratings)
8.7
(115 ratings)
Likelihood to Renew
9.1
(5 ratings)
8.3
(18 ratings)
Usability
9.2
(5 ratings)
8.2
(17 ratings)
Availability
9.1
(2 ratings)
8.2
(4 ratings)
Performance
9.1
(2 ratings)
7.7
(2 ratings)
Support Rating
10.0
(9 ratings)
7.8
(18 ratings)
In-Person Training
9.1
(2 ratings)
6.4
(2 ratings)
Online Training
8.1
(2 ratings)
8.2
(1 ratings)
Implementation Rating
9.1
(3 ratings)
2.3
(7 ratings)
Configurability
8.6
(2 ratings)
8.2
(2 ratings)
Ease of integration
9.1
(2 ratings)
5.5
(1 ratings)
Product Scalability
8.6
(2 ratings)
8.2
(2 ratings)
Vendor post-sale
9.1
(2 ratings)
7.8
(3 ratings)
Vendor pre-sale
9.1
(2 ratings)
9.1
(1 ratings)
User Testimonials
FloQastPlanful
Likelihood to Recommend
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!
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Planful
Planful makes it very easy to roll forward forecasts and conduct scenario analyses. I'm also a big fan of their reporting and how easy it is to distribute a report burst to satisfy all the needs and questions of our SLT. Lastly, their latest developments in the AI space make it easy to quickly identify outlier projections.
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Pros
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.
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Planful
  • Creating forecasts for the month, quarter, and year
  • Creating new variables by using variables pre-defined and that are new in the system
  • Having a very simple setup in the reports section - not straying away from the old Excel model which most people are used to. I can speak for a lot of people when I say that tools that look new can easily be frightening! 😅
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Cons
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
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Planful
  • Multiple currency calculations/ consolidations support IFRS accounting
  • Ability to inactivate old data dimensions
  • Reporting - Need ability to expand all/collapse all lines easily
  • Reporting - Formula exceptions added to a report do not update when information is revised.
  • Automatic Sandbox refreshes initiated by Planful - When Planful does an automatic refresh of the sandbox environment, it copies any Boomi/integration connections.
  • Limited to 8 data dimensions in core application
  • Add more API connectors to make data integration easier
  • ability to transfer sandbox tests to production environment
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Likelihood to Renew
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.
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Planful
Our new Comptroller understands the value of Planful, and we plan to utilize it further in the organization to enhance external reporting. Strangely enough, Planful had not previously been embraced by the former CFO, who argued that we were running two sets of books (of course, we were not). Fortunately, the before mentioned reconciliation of EBITDA to Net Income demonstrated that to the banks.
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Usability
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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Planful
Planful is very easy to use for end users. The budget templates can be customized to meet the business needs. They just released business user experience functionality which you to take a complicated budget template and filter it down to meet departmental needs to avoid sending more lines than needed
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Reliability and Availability
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.
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Planful
I only give a 9 rating rather than a 10 rating because it seems that every day around 2pm we see a slowdown in the use of Planful. I have requested our internal IT department verify that it is not an internal issue and have been assured it is the tool. We have not yet reached out to Planful to do extensive research to solve this issue.
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Performance
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.
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Planful
Again, the system is very reliable and, for the most part, runs very quick and smooth. When running larger queries, it does take some time, and during budgeting season our users experienced slower loading times, but nothing that raises concerns outside of normal network issues. Occasionally, as with any software we use, it will crash and you have to restart, but that does not happen very often.
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Support Rating
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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Planful
Sometimes we get great help when using Planful's support team and other times we don't. In particular, there is one person that often responds to our support tickets who is less than helpful, hence the reason for the 5 out of 10 rating. As a result, most of the time we reach out to our Planful consulting group as they provide faster and better support
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In-Person Training
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.
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Planful
We got little training on the tool after implementation. Did a lot of "trial by fire" learning about Planful. I don't think RSM really provided us all the details we needed to understand the tool and to know what we needed to train on. I don't know we knew enough about the tool to even ask the right questions and then they left and we used Planful support a lot.
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Online Training
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.
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Planful
A few years ago I participated in a lot of their online learning. Their references have grown over the years and continue to get better and better. We use it throughout the year to update the information we hold internally for documentation and to educate ourselves on all of the new release notes and features within Planful.
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Implementation Rating
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)
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Planful
After going through the initial implementation with Host Analytics and a re-implementation with Cervello (due to an ERP change, not due to a poor initial implementation), I've learned that you really must rely on your internal staff to bear most of the implementation burden. Use the vendor or partners for ideas and best-practice suggestions, and some of the easy-but-time-consuming work. Since you will ultimately be using and maintaining the application, you should be able to do most of it yourself.
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Alternatives Considered
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.
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Planful
Planful seems to do a better job of pulling things in a format that is more understandable to an accounting-minded person, whereas the other platforms seem more focused on operations. From a detail perspective, Planful provides more powerful and complete data, in my experience. When using a platform for financial planning and budgeting, the details are critical and the ability to match the GL structure and pull full P&L data has been a big improvement from Qlik, which we used previously.
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Contract Terms and Pricing Model
FloQast
I did not help in the purcase
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Planful
No answers on this topic
Scalability
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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Planful
I give this rating simply because I have first-hand knowledge of the scalability of Planful when working across departments in our company that use different financial systems. We have one team on InEight and another using SAP. When we implemented it, we only customized the system to accommodate one of these financial platforms, but when we considered expanding the use of Planful to other departments, we were able to make the necessary adjustments to accommodate our needs.
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Return on Investment
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.
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Planful
  • We have saved a large amount of time on reports that we previously manually compiled in Excel via MS Dynamics. Planful was linked to Dynamics through automatically scheduled DLR's, reports were created, and now our manual processes are as simple as accessing and refreshing a report.
  • Dashboards have improved our budgeting process specifically with our production leaders as they can visualize their P&L's, their current actuals, current budget, and see where they are forecasting with their proposed budget for the next year
  • With the use of templates, structured planning, and the Simulation Engine, it has added a lot of value and automation to our annual budget process, allowing for plug-and-play type data loading and viewing various scenarios easily
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ScreenShots

FloQast Screenshots

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

Planful Screenshots

Screenshot of Planful Planform DashboardScreenshot of Planful for FinanceScreenshot of Planful for MarketingScreenshot of ReportsScreenshot of Capacity Planning TemplateScreenshot of Integrations