Item: FloQast
Rating: 9
Author: Verified User

Overall Satisfaction with FloQast

Use Cases and Deployment Scope

My team currently used FloQast as our close tracker and reconciliation portal. We thoroughly enjoy it for both and can manage our monthly, quarterly, and annual processes utilizing this software. I have been in FloQast for years and have been very satisfied with the direction of the company and look forward to potential new releases to expedite close and other procedures.

Pros and Cons

Pros

Reconciliation reviews
Close checklist management
Customer communication

Cons

Built in dependencies for close processes
Related reconciliations needing multiple imports (grouping helps)

Return on Investment

Improved visibility
Accurate management reviews

Automation

We utilize the reconciliation management on my team and it has saved time where the TB is imported and all data is ready to match against third party reports and support. The rolling feature is also nice to keep periods clean and past reconciliations from being accidently overwritten. Historical data is always benefit when audit rolls around and balances need to be justified.

Audit Readiness

n/a

Key Insights

Do you think FloQast delivers good value for the price?

Not sure

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

Workday Workforce Management, Oracle Access Management

Likelihood to Recommend

I have experienced close procedures and reconciliations being exclusively being tracked via spreadsheets all the way to software like this. This reduces time and data continuity errors when updates happen.
I have seen some of the new releases where AI can help match items such as cash or asset depreciation. This seems unnecessary as most ERP's have systems in place already to reconcile items like this. I do look forward to some AI matching with other accounts such as my payroll where I have multiple sources of information from a third party payroll system, payroll accruals, employee withholdings, and insurance vendor invoices all needing to be matched and compared to one another across all the departments of the company.

FloQast Feature Ratings

Comments

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Great Software