FloQast is a great month end close collaboration and reconciliation tool
May 20, 2024
FloQast is a great month end close collaboration and reconciliation tool
Score 9 out of 10
Vetted Review
Verified User
Modules Used
- FloQast Close
Overall Satisfaction with FloQast
We're a small startup with a small accounting team. However, we want to ensure our accounting is fully up to GAAP and that we have appropriate policies and procedures in place to be able to pass any future financial audits. We used to do our month end close tracking in Excel but it was not perfect. FloQast was recommended to us by our accounting manager, as she had used them in the past, and we fully embraced it. We use it for all of our account reconciliations as well as month end close tracking.
- Account reconciliations
- Month end close checklists
- Ensuring we're all on the same page, know our status and what our blockers are
- Offer more services as standard with it's base pricing
- Be as price competitive with some of it's newer competitors
- The webpage with all it's filters can get a little cluttered so it could be cleaned up
- Faster month end close
- Minimized errors on our balance sheet and P&L
- Added much needed collaboration especially in a fully remote environment
It's allowed us to know exactly where we are in the process and hold each other accountable - which ultimately helps get the books done quicker and results out faster.
We had FloQast in place when we did a prior financial audit. It helped immensely with the audit team to show we had a separate reviewer, separate approver, and that reconciliation balances tied back to the balance sheet. Made reconciliation reviews the most efficient part of our audit process.
At the time we picked FloQast, they were the most cost effective and easiest tool to use. Fast forward a little bit, and Numeric has come to market. I really lie Numeric to be honest and feel that their pricing is better and for that lower pricing, they include more functions. However, we continued with FloQast for ease of continuity and my team is time strapped. What that said, FloQast is great - nothing wrong with it other than it could be cheaper.
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?
Yes
Did implementation of FloQast go as expected?
Yes
Would you buy FloQast again?
Yes