FloQast

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FloQast is a financial management software that was created by accountants for accountants in order to close faster and more accurately. Equipped with a number of advanced and essential features and tools, this software is ideal for all types of businesses. It is a cloud-based accounting solution that has been designed specifically for financial account managers,  financial officers, and accountants.

The FloQast close management software allows users to manage information that is related to client data, accounting processes, reconciliations and documents. The solution helps users to automate as well as track the reconciliation progress through a status dashboard. A few key features of this helpful financial tool include reporting, analytics, reconciliation management, and collaborative checklists. FloQast also helps accountants to manage close checklists, organize audits and automate tie-outs.

FloQast users can integrate with existing Excel workbooks which tie back to a general ledger. This unique solution provides collaboration tools such as the note review feature that helps users to keep all communication documented and stored securely. These notes are then also included in auditing processes. The software provides its services on a per month and per user basis. It supports multiple currencies and provides customer support via email, over the phone and through the means of an online helpdesk. FloQast enables users to close their books efficiently in a collaborative and secure environment.

Vendor Details:

  • FloQast
  • Financial Reporting Software
  • www.floqast.com
  • Founded in 2013
  • Los Angeles, United States

Key Metrics of FloQast

FloQast interfaces with prominent ERP systems such as Intacct and NetSuite to simplify closes. The software is designed by expert CPAs to help make the most out of the way accountants operate on a daily basis. The result is a much quicker close with automated tie outs and pain-free audits. On an average, FloQast customers close three days faster as compared to the users of other software. The award-winning solution is trusted by hundreds of accounting departments, including market leaders such as Zillow, Twilio, Nutanix, and The Golden State Warriors.

Developed and supported by accountants, FloQast works with existing checklists and Excel to work the way a team in a firm does to manage the close. Bringing reporting, collaboration and process management together in a single, intuitive solution, FloQast provides one place to manage the close and instill greater confidence that the information is complete and accurate. As FloQast is easy to deploy and directly integrates with ERPs, business teams can be up and running in less than two weeks.

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Uses/ Applications

  • Upgrade Close Checklist
  • Organize Audit Support
  • Automate Account Reconciliations
  • Shorten Close Time
  • Improve Audit and SOX Compliance
  • Close Books Faster
  • Manage the Month End Close on One Single Platform
  • Streamline month end close

Features

  • Collaboration Tools
  • Real-Time Figures
  • Intuitive Dashboards
  • Automatic Documentation Of Processes
  • Customizable Processes
  • Automated And Audit-Ready System
  • Bank Reconciliation
  • Strategic Planning
  • Dashboard
  • Key Performance Indicators
  • Ad hoc Analysis
  • Ad Hoc Reports
  • Consolidation / Roll-Up
  • Audit Trail
  • Balance Sheet
  • Multi-Company
  • Multi-Department / Project
  • General Ledger



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Pricing:

  1. Business: $125/ user/ month (billed annually)

  • Reporting
  • Single Sign-On Integration (SSO)
  • Premium Support(Additional Cost)
  • Collaborative Checklist
  • Review Notes
  • Reconciliations Management
  1. Corporate: $150/ user/ month (billed annually)

  • Premium Support(Additional Cost)
  • Close Analytics
  • Audit Users
  • Collaborative Checklist
  • Review Notes
  • Reconciliations Management
  • Reporting
  • Single Sign-On Integration (SSO)
  1. Enterprise: Starting at $9,000/ year for up to 5 users

$15,000/ year for up to 10 users (Licensed and billed annually)

(Currently available only on Oracle NetSuite and Sage Intacct)

  • Collaborative Checklist
  • Premium Support
  • System Administrator Role
  • User Reporting & Audit Logs
  • Flux Analysis
  • Review Notes
  • Reconciliations Management
  • Reporting
  • Single Sign-On Integration (SSO)
  • Close Analytics
  • Audit Users

Click here to request a quote. 

  1. Outsourced Accounting Firms: Special Pricing
  • Global Client Visibility
  • Specialized Billing Terms
  • Per User Billing
  • Dedicated Support

Click here to request a quote. 



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Pros and cons

FloQast is one of the most prominently used financial closing software worldwide. Listed below are some of the tool’s major benefits and drawbacks.

PROS:
  • Fast implementation and efficiency
  • Value for money services
  • Ease of use and modification
  • The website is intuitive to use
  • Great visuals
  • Excellent customer support
  • User-friendly
  • Easy audit trails
  • Keeps track of checklist and outstanding items
  • Keeps updating changes in accounting software
  • Highlights imbalances
  • Handy review notes
  • Hashtag feature
  • Provides users with the flexibility and computational power of Excel
  • Offers robustness of a reconciliation data warehouse
  • Eliminates manual ticking and tying with automated tie-outs
  • Helps to hit deadlines without micromanagement
  • Minimizes human error by automating manual month-end close tasks
  • Hand over financials with confidence and ensure completeness
  • Collaborate through review notes & flux analysis
  • Focuses on high priority items
  • Unifies processes
  • Onboard employees faster
  • Automated roll forward
  • Work dynamically in Excel
  • Increase audit readiness
  • Cut audit costs
  • Ensure accounts stay tied out
  • Gain the ultimate 360-degree view
  • Maximizes team efficiency and optimizes close

CONS:
  • Inability to separate preparer and reviewer from having something due
  • Going back and forth between BOX and FloQast
  • Adding new subsidiaries
  • New checklist items
  • Setting up recons and ensuring that the storage provider is set-up accurately is a challenge
  • Does not provide any notifications when the previous month reconciliation is out of balance
  • Administrative functions can prove to be cumbersome
  • Renaming folders within the FloQast application



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Integration

1. ERP Integrations

  • NetSuite
  • TB Upload
  • Intacct

2. Cloud Storage Integrations

  • Google Drive
  • Box.com
  • Dropbox
  • Egnyte
  • TB Upload
  • Intacct
  • General Ledger Credentials
  • Cloud Storage Integrations
  • Google Team Drive
  • OneDrive

3. SSO Integrations

  • Single Sign-On (SSO) Integrations

Learn more about FloQasts integrations by clicking here



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Specification

Supported Devices

  • iPhone/iPad
  • Linux
  • Android
  • Mac
  • Web-based
  • Windows

Language Support

  • English

Pricing Model

  • Quote-based

Customer Types

  • Small Businesses
  • Medium Enterprises

Deployment

  • Cloud Hosted
  • SaaS
  • Web



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Support

  • Email
  • Phone support
  • Training
  • Tickets
  • Online
  • Webinars
  • Case studies

Click here to schedule a live demo. 


Awards/ Accolades/ Certifications

  • 2017 Stevie Gold Winner: Company of the year computer software
  • 2017 Stevie Gold Winner: Fastest Growing Company of the Year
  • 2017 Stevie Silver Winner: New Product or Service of the Year
  • 2017 Stevie Silver Winner: Most Innovative Tech Company of the Year
  • Gartner 2018 Leader: Lower Midmarket Organization, Cloud Financial Close Solutions

Competitors

  • QuickBooks
  • Sage Business Cloud Accounting
  • Zoho Books
  • Hubble
  • Dynamics 365
  • BillFixers
  • ExpenseWatch
  • Beyond
  • JetPay
  • CheckIssuing
  • Float
  • Kelloo
  • Kashoo
  • Cognos
  • CA PPM
  • ZipBooks
  • Xero
  • IBM Cognos
  • FinancialForce Accounting
  • Chargebee
  • Hubdoc
  • FreshBooks
  • Chargify
  • SignRequest
  • Sage Intacct
  • Sage 50cloud
  • Oracle NetSuite
  • Anaplan
  • Host Analytics Planning
  • Advantage 365

Top FloQast Alternatives

  • Float

Float is an award-winning financial reporting software. Its features include cash budgeting, flow forecasting, and cash management. The tool is specifically designed for integrated use with Xero, QuickBooks Online or FreeAgent. Users can view their cash flow on a daily, weekly and monthly basis. They can also make a scenario plan at the click of a button and predict forecast three years into the future. Float reads amounts and expected dates on every bill and invoice, giving users granular, actionable insights into their cash flow that can be shared with banks, investors or boards.

  • IBM Cognos

IBM Cognos Analytics software is an online-based business intelligence platform that offers a complete array of BI software to help businesses meet their fiscal goals. The financial reporting software is considered one of the leaders in the field of business intelligence and offers an extensive suite of over thirty products. Some of the best features of Cognos Analytics include reporting, analytics, scorecard, data integration and the intuitive dashboard.


Conclusion

In conclusion, FloQast is a closing software designed by professional accounts to help businesses close their books in the fastest and most accurate way. This unique feature-rich platform is built with a number of advanced and essential features and tools needed to close books, such as organizing, tracking, and automating processes related to the month-end. With FloQast, major procedures such as trial balance reconciliations as well as documents, team members, review notes, and audit support are efficiently streamlined.


Free Trial
Supported Devices
Windows
Linux
Android
iPhone/iPad
Mac
Web-based
Deployment
Cloud Hosted
Cloud, SaaS, Web
Mobile – Android Native
Mobile – iOS Native
On Premise
Open API
Language Support
English
Hindi
Spanish
French
Russian
Italian
Dutch
Danish
Polish
Turkish
Swedish
Pricing Model
Monthly payment
Annual Subscription
Quote-based
Training
Documentation
Webinars
In Person
Live Online
Customer Types
Small Business
Medium Enterprises
Large Corporations
Freelancers
Support
Online
Business Hours
24/7 (Live Rep)
Features
Email Marketing
Landing Pages
Marketing Automation
Webinars
CRM
Autoresponders
Integration
Integration: Intacct, Google Apps, Bitium, NetSuite.
8.4 Total Score
1 reviews
"Receiving figures and consolidations in real time means cost centre managers spend more time looking at numbers that are relevant, and less time trying to manage the process and consolidate figures. The application is simple and easy to use, even for non-financially astute users." - Senior Financial Manager, Old Mutual

8.4Editor's score
Design
8
Usability
7.5
Support
8
Price
10
8.7User's score
Design
8
Usability
9
Support
9
Price
9
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