FloQast Reviews & Ratings 2024

Q: What are FloQast's top competitors?

BlackLine , Vena , and Wolters Kluwer CCH® Tagetik are common alternatives for FloQast.

Overview

What is FloQast?

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.

Recent Reviews

Excellent user-friendly tool to help with Close and reconciliation Process

9 out of 10

April 08, 2024

We use FloQast in our month-end close process. FloQast helps our team stay organized and on task while closing the month. FloQast also …

Accountant's Best Friend during Month End Close

10 out of 10

March 04, 2024

We use FloQast to manage our month end close tasks and reconciliations for multiple entities. It is integrated with our accounting …

FloQast - best in class

10 out of 10

January 10, 2024

Incentivized

We use FloQast as a close monitoring tool, for auto-recs and also for SOX compiance. Additionally, we use ReMind for accruals.

FloQast is the Month End Hero!

10 out of 10

January 06, 2024

Incentivized

Month-End Close & FLUX: You no longer have to use a Gsheet to see how the close is going; you can look at the Dashboard to see exactly how …

A game changer for the Accounting close process.

9 out of 10

January 05, 2024

Incentivized

We use FloQast to manage our close process and other recurring tasks across the Accounting team. We have a 5-day close, which requires us …

Amazing Tracking Tool

9 out of 10

January 04, 2024

Incentivized

We use FloQast to manage all aspects of our close and post-close processes. It allows for tracking of our tasks so that we know at any …

FloQast = Easier financial Close and team management!

10 out of 10

January 04, 2024

Incentivized

I and my team use FloQast daily for our monthly close checklist and account reconciliations. We've loaded each team member's daily tasks …

Great month-end software with excellent customer service and and an ever evolving product offering.

9 out of 10

January 04, 2024

Incentivized

Help onboard new team members, streamline the closing process, and keep track of month-end timelines (projected and and actual closing …

Highly innovative and user friendly tool to manage your checklists and account reconciliations for period close activities.

9 out of 10

January 03, 2024

Incentivized

We are using FloQast to control the quality of account reconciliations. Users are required to upload detailed account reconciliations …

Great MEC tool and standard workflow tool

10 out of 10

January 03, 2024

Incentivized

We use Floqast to facilitate and accelerate our month end close process as well as for other workflows such as internal controls and payroll

The best!

10 out of 10

January 02, 2024

Incentivized

We use FloQast for our monthly and annual reconciliations. It is a great tool for managing the close. FloQast helps identify where …

Great addition to any Accounting team's tool belt

9 out of 10

January 02, 2024

Incentivized

Floqast has been an invaluable addition to our month-end close process and allows our remotely distributed team to collaborate and …

Great month end task tracker

10 out of 10

January 02, 2024

Incentivized

We use it for tasks, journal entries, reconciliation and project that needs to meet deadlines. It is best task tracer for month end close …

Floqast is a simple yet effective close management tool for the ages

10 out of 10

January 02, 2024

Incentivized

We use Floqast to manage our monthly and quarterly close process. The main modules we use are Close, Autorec, Remind and Analytics. …

Save time and your eyes!

10 out of 10

January 02, 2024

Incentivized

We use FQ for 5 of our companies. It's a lifesaver on time! Our biggest problem was too many balance sheet accounts that had thousands of …

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How FloQast Differs From Its Competitors

Automation

We may not be using all the modules of FloQast but the maintenance of the checklist account reconciliations and flux analysis are indeed benefiting us in the timely closure of books of account regularly and running a business effectively.

Audit Readiness

The nature of FloQast is audit readiness. Helps us prepare for the audit all year long. Documenting Reconciliations, signing off on controls/tasks, etc.

Automation

We have been mainly using Flux Analysis and it has greatly improved how we present financial results and call out any variances month over month.

Automation

ReMind helped reduce email traffic following up on accruals, which gave A/P team ~ 10 hours month in time savings which could be used on higher value add work.

Incentivized

Audit Readiness

Our auditors were able to see all the info in one place, which is incredibly important in post Covid world where audit is generally not on site and our employees are generally wfh.

Incentivized

Automation

As we grow in complexity (IPO ready) as well as in international entities, FQ has made it easy to stay on top of all these new and additional steps. As teams grow, easy to add new EE's into the workflow, and even as teams shift, even easier to allocate tasks to other team members. They really have …

Incentivized

Audit Readiness

We rely on FQ as a sanity check that all documents agree to the TB; no more going through each document to make sure it ties; if the balance ever goes out of balance, it informs us, and we correct it. We can also add Auditors to FQ so they can see the audit trail of the approval process.

Incentivized

Automation

FloQast has been a great tool to ensure completeness of non-close related tasks, including tax filings, financial statement review, and business process controls. While the idea of ReMind was very relevant to the use cases of Accounting teams, we didn’t find it more efficient than just using …

Incentivized

Audit Readiness

This has been a game-changer for audit management. Allowing audit access to view files directly saves the team time to focus on answering more complex audit questions and day-to-day accounting operations. It has also been a great way to track and ensure the completion of business process controls.

Incentivized

Automation

Reconciliations are much easier to prepare and review. Prior to implementing FloQast, our recs were prepared in hundreds of individual Excel files and saved on our shared drives. Knowing when they were ready to review and keeping track of which were fully prepared and reviewed was one of the main …

Incentivized

Audit Readiness

FloQast has had a significant impact on our controls. Assignment of tasks, due dates, review processes, review notes, task attachments, etc. have all been written into our accounting key controls. Providing journal entry and reporting support to our internal audit team is now much easier since we …

Incentivized

Automation

We currently, use the standard workflows for the financial close (checklist/reconciliations). As mentioned previously, we've cut down on overhead significantly by using FloQast. We've tested the Flux Analysis and had a demon on Remind but haven't felt that the benefit outways the costs yet. As …

Incentivized

Audit Readiness

The nature of FloQast is audit readiness. Helps us prepare for the audit all year long. Documenting Reconciliations, signing off on controls/tasks, etc.

Incentivized

Automation

Incentivized

Audit Readiness

By using FloQast to maintain the account reconciliation, we can provide access to the system itself, and they can see the maker-checker status of this reconciliation and use it for audit purposes.

Incentivized

Automation

Saves time and improves accuracy through automated matching of trial balance with supporting detail

Incentivized

Audit Readiness

External audit access to our close checklist and support in Floqast eliminates the need to pull pbc support

Incentivized

Automation

FloQast ops is a great tool to use to save time. By setting up the different tasks/projects, it helps create a timeline where I can follow to see if we are on track to complete certain tasks/projects. It takes some time to set up, but once done, it is great.

Incentivized

Audit Readiness

Being able to give auditors access to FloQast definitely saves our organization a lot of time. It cuts the time from having to track pbc support and upload/send to the auditors. Having the reconciliations and documents located in FloQast makes it much easier and smoother during the annual audit.

Incentivized

Automation

We can set up automated rules to set up which flux items are critical to review, investigate, and respond to based upon dollar or percentage variances. This has been extremely helpful to allow the team to focus more intently on those areas of greater importance and I have noticed that as a result …

Incentivized

Audit Readiness

Our auditors were very impressed when we were able to show them our reconciliation documentation and sign-offs and it greatly reduced our time spent on capturing and documenting approvals. We've also incorporated audit workflows into our own process so we can track and assign audit PBC tasks …

Incentivized

Automation

Floqast's automation tools have streamlined our close process and reduced the time needed to maintain monthly excel templates and automated recurring outreach emails. In addition we are able to standardize reconciliation thresholds and enforce them systematically whereas in the past we were …

Incentivized

Audit Readiness

Floqast centralizes documentation for the financial close which makes it easy for us to pull supporting documentation around entries made.

We aren't there yet but ideally the auditor feature will allow us to grant auditors access to pull files directly from our close tool rather than having our …

Incentivized

Automation

The automation tools and reconciliation management have saved time, I haven't had to hire another person to keep up.

Incentivized

Audit Readiness

The audit readiness for pulling supporting documents are so easy and save so much time for our year end process.

Incentivized

Automation

I only use the Reconciliation Management and this has been great, to get notified once something is out of balance. This also, keeps us on track for reconciliation being 100% completed with oversight (approvals).

Incentivized

Audit Readiness

FloQast helps by showing we do have internal controls and a review process for each account with the back up.

Incentivized

Automation

Have not really used much automation within FloQast besides the inherent ability for FloQast to read a ledger balance and compare it to an excel reconciliation balance.

Incentivized

Audit Readiness

Have used FloQast from a PBC perspective mainly to show support of controls.

Incentivized

Automation

We utilize the Ops workflow for all of our payroll processing, which has helped us stay focused and connected on arguably the most important piece of business operations in regards to it's people. ReMind is also an excellent tool that we just haven't been able to take full advantage of yet

Incentivized

Audit Readiness

The audit-ready features are amazing, we just haven't had audits done yet to take full advantage of them

Incentivized

Automation

We use reconciliation management to handle all account reconciliations across all global entities and it allows us to monitor deadlines and ensure any changes are identified and re-reconciled to ensure SOX compliance.

Incentivized

Audit Readiness

We are able to provide both internal and external auditors with access to Floqast which reduces the number of requests we have to actively manage during audits. Floqast also actively monitors changes to GL or account reconciliations to provide confidence that any changes resulting in unreconciled …

Incentivized

Automation

It really helps you to stay accurate and to not forget about any tasks or reconciliations

Incentivized

Audit Readiness

I'm not as involved with this process but I can see how it easy it makes it to locate and access backup for auditing purposes. It also creates transparency and it protects the integrity of our reporting

Incentivized

Automation

We use FloQast Ops workflows for several processes, and having the repeating cycles populate each month makes a huge difference for efficiency.

One of the simplest features on the face of it, the document roll-forward, is also one of the most powerful - it removes the tedium of endless creating new …

Incentivized

Audit Readiness

We use FloQast every year to manage our audit preparation.

Incentivized

Audit Readiness

We use FloQast to maintain account reconciliations for audit support as well as show evidence of sign-off with FloQast tasks.

Incentivized

Automation

Unfortunately, we have not yet utilized these features. However, one of our 2024 goals is to begin using the flux analysis feature in order to store our P&L review in the same location as the balance sheet reconciliations and ensure the final adjustments flow through to represent the final P&L …

Incentivized

Audit Readiness

One of our internal controls is that all significant balance sheet accounts are reconciled and reviewed. We are able to simply download the balance sheet reconciliation list from Floqast which shows who completed the rec and which date and also who reviewed the rec and the date. This takes 30 …

Incentivized

Automation

On an individual level, FloQast Ops workflows has been huge for me as an employee with a large to-do list each week. I am a very organized person, but prior to FloQast I was always concerned I was going to forget a task because I didn't have an efficient way of tracking my to-do items. The …

Incentivized

Audit Readiness

I have not been directly involved in any of the audit features but I hope to in the future! I do know that other employees in our company use them frequently and only have great things to say. I am confident FloQast's audit readiness tools are as excellent as their other features.

Incentivized

Automation

Reconciliation management has been a useful tool in ensuring that our monthly reconciliations stay up to date, even when the numbers start to change. The ReMind tool is also fantastic, and saves you from having to remember to send out the same request over and over. It doesn't seem to bother …

Incentivized

Audit Readiness

FloQast does allow auditors to access, however our IT does not allow for that. The setup we have in OneDrive though makes it easy to just take a reconciliation and drop it into whatever online portal the auditors use. This was a huge time savor for me, and on top of that you can easily provide one …

Incentivized

Automation

FloQast Reconciliation Management has been an absolute game changer for our team. We have been able to continue operating while growing 20%+ year in volume without adding additional teammates as we are able to automation so much of our reconciliation process. Without FloQast, we were looking at …

Incentivized

Audit Readiness

We have not utilized FloQast's audit report tools significantly to date. We are able to quickly pull reconciliations for all accounts and provide to the auditors as needed. This is an area of opportunity for us to utilize the software further and continue to increase our demonstration of internal …

Incentivized

Automation

FloQast Reconciliation Management is obviously a must-have feature for all finance groups. Our Auditors used FloQast for the auditing process. The ReMind is a huge time saver for monthly request of financial information from different users. It makes multiple requests for each session, which can …

Incentivized

Audit Readiness

FloQast keeps detailed audit trails to make sure all records are audit-ready, which removes one to-do item from our checklist.

Incentivized

Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 5 features

Customizable Workflows (92)
9.3
93%
Financial data consolidation (67)
9.0
90%
Detailed Audit Trails (77)
8.9
89%
Journal entries and reports (52)
8.1
81%

Reviewer Pros & Cons

View all pros & cons

Calling out variances between schedules and GL
Variance Analysis Capabilities

Verified User

Manager in Finance and Accounting

Financial Services Company, 1001-5000 employees

Calling out variances between schedules and GL
Notifications of your items due that day

Verified User

Manager in Finance and Accounting

Computer Software Company, 1001-5000 employees

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Pricing

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FloQast

N/A

Unavailable

What is FloQast?

Entry-level set up fee?

Setup fee required

For the latest information on pricing, visithttp://floqast.com/pricing

Offerings

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services

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Budgyt is a platform made to simplify business budgeting. With built-in functions designed for data integrity, team collaboration, and scenario planning & analysis, Budgyt is presented as an optimized budgeting experience that rids users of complex, error-prone spreadsheets and the time-consuming…

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Features

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

8.5

Avg 8.4

9
Financial data consolidation
(67) Ratings
Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.
8.1
Journal entries and reports
(52) Ratings
Ability to enter journal entry adjustments and produce reports showing all journal entries for a specific period.
7.2
Multi-currency management
(37) Ratings
Ability to handle foreign currency conversions during consolidation.
8.9
Detailed Audit Trails
(77) Ratings
Tracing changes to data and processes that were run.
9.3
Customizable Workflows
(92) Ratings
The ability to adapt the software to complete tasks in a particular order according to business needs.

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Product Details

What is FloQast?

FloQast is a Finance and Accounting Operations Platform boasting users among accounting teams that include Twilio, the Los Angeles Lakers, Zoom, and Snowflake. FloQast enhances the way accounting teams manage their Financial Close, Finance and Accounting Operations, and Compliance Programs. With FloQast, teams can utilize AI technology to manage every aspect of the month-end Close, reduce their compliance burden, stay audit-ready, and improve accuracy, visibility, and collaboration throughout the financial function. Learn more at FloQast.com.

FloQast Features

Supported: Transforms Excel monthly close checklists into a cloud-based collaboration tool
Supported: Works with the user's general ledger and Excel workbooks to link them dynamically

FloQast Screenshots

Screenshot of the analytics that displays progress throughout the close

FloQast Integrations

FloQast Competitors

FloQast Technical Details

Deployment Types	Software as a Service (SaaS), Cloud, or Web-Based
Operating Systems	Unspecified
Mobile Application	No
Supported Languages	English

FloQast Downloadables

https://media.trustradius.com/product-downloadables/H0/05/7A0TNHE4IUO9.pdf

Frequently Asked Questions

BlackLine, Vena, and Wolters Kluwer CCH® Tagetik are common alternatives for FloQast.

Reviewers rate Customizable Workflows highest, with a score of 9.3.

The most common users of FloQast are from Mid-sized Companies (51-1,000 employees).

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Comparisons

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Reviews and Ratings

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Attribute Ratings

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February 03, 2023

FloQast has provided great value

Justin Parks

Corporate Controller

Technimark (Medical Device, 1001-5000 employees)

Score 10 out of 10

Vetted Review

Verified User

Use Cases and Deployment Scope

We have used FloQast to provide visibility to our global reconciliation management and monthly close process. It has provided a centralized storage location for reconciliations and related documentation and the signoffs and TB variances provide confidence that nothing has been overlooked.

Pros and Cons

Very easy to launch
Configurable by regular accountant users. No need for specialists
While very easy to implement and maintain, they have resources dedicated to helping you implement and then maintain / expand utilization.

Ability to index reconciliations and supporting documents with hyperlinks within the documents.

Likelihood to Recommend

Not sure where it would be less appropriate, but it is perfect for any organization that is looking to quickly and easily launch a reconciliation management, checklist, and general control structure that can be easily adapted moving forward.