FloQast a tool for a concise view our your close and financials
February 27, 2023

FloQast a tool for a concise view our your close and financials

Jeff Dynda | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Modules Used

  • FloQast Close
  • FloQast AutoRec
  • FloQast Flux

Overall Satisfaction with FloQast

FloQast has been beneficial to our accounting department in so many ways. The Autorec function is a real game changer with our EOM Close. The Close module helps us gain insight as to whether we're on track for our close deadline and determine if anyone on the team is struggling to complete their tasks. The Flux Analysis module allows us to review any variances on a monthly or quarterly basis which helps pinpoint areas for review in our financials.
  • Allows for us to analyze variances on a monthly or quarterly basis
  • Track how we're progressing with our close tasks
  • Autorec against the GL balance in NS to find recs that don't align
  • We can have reconciliation tasks at the GL level but also have task based EOM checklist items like perform this specific accrual
  • Onboarding was literally a breeze
  • The Autorec function is sometimes slow on the first day of close
  • FloQast presents a clean and neat narrative to our auditors, which results in less friction or questions
  • Management can SEE what close areas we're struggling with and assess/change our timeline
The flux analysis takes our already stored recs and loads them into the module and assesses the data for variances. We're then able to make a comment and justify the variance. This allows for management to have less questions but also be able to response to our comments in 1 place. This results in improved accuracy and less review time needed.
The centralization of supporting documentation is key with this product. We can provide an auditor access to our instance and they can have a one stop shop to our recs.
We knew that FloQast was the best in class and integrated nicely with Netsuite, so no others were contacted.

Do you think FloQast delivers good value for the price?

Yes

Are you happy with FloQast's feature set?

Yes

Did FloQast live up to sales and marketing promises?

Yes

Did implementation of FloQast go as expected?

Yes

Would you buy FloQast again?

Yes

FloQast is great for dispersed teams where you can track your close progress at an individual close task basis. The Autorec feature is great for when you might still have your close period open and want to know if any of your reconciled GL balances become out of balance with your close period NS GL.

FloQast Feature Ratings

Financial data consolidation
9
Journal entries and reports
10
Multi-currency management
8
Detailed Audit Trails
10
Reconciliation Automation
10
Close Checklist
10
Customizable Workflows
10