Get into the Flow of Close with FloQast
March 02, 2023
Get into the Flow of Close with FloQast
Score 10 out of 10
Vetted Review
Verified User
Modules Used
- FloQast Close
- FloQast Flux
- FloQast Analyze
Overall Satisfaction with FloQast
We use FloQast to keep our period-end closes organized and on track. All steps required to get us from point A to Z during close are documented and assigned to preparers and reviewers. We also use FloQast to assess bottlenecks in the process, identify where folks on the team may be struggling, or help teammates see where everyone is and pitch in where needed.
- Quick and easy implementation
- Customer service is fantastic
- UX is modern and easy to use
- Identification of hardcoded numbers being used to link back to tie out. For instance, if a reconciliation foots using a formula - and that should tie to the GL - I don't want someone being able to manually override. It's possible to have a spreadsheet with one number in it linked back to FloQast and everything would display green. Obviously, that's what the review is for but would love for FloQast to identify potential hardcoded numbers linked to the tie-out.
- I would love for FloQast to have more reconciliation template resources available to customers. They have a few they offer to customers as a general guide, but it would be HIGHLY valuable if they could approach new and existing customers with a library of industry-leading best-practice reconciliation templates. I would argue most people are approaching FloQast because they want to make their close a better experience. If during the implementation, their implementation team identified areas where the customer could strengthen reconciliations and provide plug-and-play templates, that would be a huge value add.
- Linkable GAAP guidance. I would like (not love) to have the ability to link relevant GAAP guidance to several of our balances/reconciliations. Furthermore, I would love for that link to flag the team if there are new developments that need to be considered and include key adoption dates that are dynamic based on the fiscal year-end.
- Reduced time to close
- Reduced training time
- Allows for a leaner team
- Scalable processes
Reconciliation management has allowed us to scale up/down with the business without losing sight of the things we have to get done. With changes in staff over time, FloQast has reduced the time to train because everything is consistently stored in the same spot, checklists are maintained, and the tool is easy to adopt and navigate. Additionally, it's helpful to receive email prompts if/when a reconciled balance becomes unreconciled. That automated alert has saved me more times than I care to admit.
The FloQast audit readiness allows me to confidently go into an audit knowing we have all of our ducks in a row. We know our reconciliations are complete, tie-out, have been reviewed, etc... I imagine it also brings confidence to our auditors that we know what we are doing. If we routinely kick off an audit having all of our reconciliations ready for them and neatly packaged... it makes the audit experience a hell of a lot better.
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