Item: FloQast
Rating: 10
Author: Verified User

Use Cases and Deployment Scope

I love FloQast. The ability to set a checklist up for the team to know expectations and deadlines has been critical to our Accounting Department's success. It is so easy to add new items, so when we discover the need for a new task, whether annual, quarterly, monthly, bi-weekly, weekly, or daily (if you manipulate the weekly), anything is possible.

Pros and Cons

Keep the team on task
Syncs directly to NS- So automatically unreconciles if balances change

Needs daily items
Sometimes the recons don't refresh on the first try.

Return on Investment

streamlined workflows
accountability for tasks
Documentation of review notes

Automation

They have greatly streamlined the close process. We use Reconciliation Management, Close Checklist, and Flux Analysis.

Audit Readiness

not implemented

Key Insights

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?

I wasn't involved with the selection/purchase process

Did implementation of FloQast go as expected?

I wasn't involved with the implementation phase

Would you buy FloQast again?

Yes

Other Software Used

NetSuite ERP, PayStand, SAP Concur

Likelihood to Recommend

We use separate entities for our Operational Accounting (AP, AR, Inventory, Taxes) which allows us to see where everyone is at, but not in one overwhelming checklist. Quarterly/annual items can be set and forgot about, until its time to do them. No need to sign off on them until its relevant.
Flux is also really useful. We are able to set custom thresholds for items the CFO always wants to analyze, and everything else is set at what audit materiality is. I do wish the filter feature worked a little better on flux. I've found I just have to tell the team to scroll through everything, because if they just filter for their name, some things don't pop up.

FloQast

Modules Used

Overall Satisfaction with FloQast