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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SAP Cloud ERP
Score 8.5 out of 10
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SAP Cloud ERP (formerly SAP S/4HANA Cloud) is a modular ERP that enables users to run mission-critical operations in real time from anywhere, introduce new business models in any industry, and expand globally. SAP Cloud ERP is a SaaS product and can also be deployed in a hybrid landscape for quicker time to value. SAP Cloud ERP is a foundational component of the
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
The software reduces the stress of managing multiple departments in the supply chain sector. It offers great performance for both small and large businesses. With the built-in AI, it improves the overall efficiency of the organization and helps in reducing maintenance. The product customer care and support services are available 24/7.
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
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.
The cost of SAP as an ERP is quite high and the switching costs associated with ERP systems are even higher. That being said moving from one ERP to another only happens once in a great while for large organizations. Those switching costs include retraining, IT hardware requirements, outside consultants and more
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
Day to day data insight is more accurate for manufacturing industry to procure as per forecasted from supplier. Supply and fulfillment cycle becomes more easier. I would say more about performance as we are using this new server so we can see clear difference between SAP S/4HANA Cloud and ECC. Also it has customized business extensions for rapid development.
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.
I would rate SAP S/4HANA Cloud’s availability as 10 out of 10. The system is generally reliable and accessible whenever needed, with minimal unplanned outages. Occasional minor application errors or brief maintenance windows can occur, but overall the platform provides a high level of uptime and stability, which supports continuous business operations effectively.
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.
I would rate SAP S/4HANA Cloud’s performance as 10 out of 10. Most pages load quickly, and reports generally complete in a reasonable time frame, even for complex queries. The system handles integrations with other software smoothly, though in a few high-volume scenarios, certain reports or dashboards may take slightly longer to process. Overall, performance is strong and meets the needs of most business operations effectively.
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 support system I find great as whenever I run into problems they rectify them quickly as possible they never reacted late the support is just up to the mark for me. They provide many solutions to the problems I faced the [technical] team support is always amazing they [listen] to mean work accordingly.
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.
I gave this rating because the SAP S/4HANA Cloud trainings were well-structured, comprehensive, and practical. They provided clear guidance on system functionality, hands-on exercises, and real-world scenarios that made it easier for our team to understand and adopt the platform. At the same time, there’s room for improvement in providing more role-specific or advanced scenario trainings, which would further enhance learning for specialized users.
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)
SAP requires a lot of internal and external resources to complete its successful implementation. The cloud version requires a deeper understanding of the different capabilities of the local systems (hardware) and the connection towards your local IT team. We found several problems on our systems that we couldn't foresee before the implementation and roll out.
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.
In our quest for an ERP solution, we evaluated alternatives such as Oracle ERP Cloud and Microsoft Dynamics 365. However, SAP S/4HANA Cloud's reputation for advanced analytics, scalability, and seamless integration with other SAP solutions made it the natural choice for our organization's digital journey.
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
The platform is highly flexible and cloud-based, allowing deployment across multiple departments, locations, and business units with minimal infrastructure constraints. It supports growth, additional users, and new business processes efficiently. The only reason for a 10 that it’s a perfect that certain highly specialized integrations or legacy system migrations can require extra planning to scale seamlessly, but overall the platform handles expansion very well.
I would rate the professional services for SAP S/4HANA Cloud as 10 out of 10. The team was highly knowledgeable, responsive, and provided valuable guidance throughout the implementation process. They helped with system configuration, best practices, and troubleshooting, ensuring a smoother deployment and faster user adoption. The only minor area for improvement would be slightly faster turnaround on certain non-critical queries, but overall, the services greatly contributed to the project’s success.
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
