FloQast Reviews & Pricing

by FloQast | Founded 2013, Los Angeles, CA

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What is FloQast?

Industry Specialties: Serves all industries

FloQast is a comprehensive software solution designed to streamline and enhance the accounting processes for businesses. It is particularly well-suited for medium to large-sized companies looking for an efficient way to manage their accounting tasks, including closing books faster and more accurately. One of the key benefits of using FloQast is its ability to improve collaboration among accounting team members, thereby enhancing overall productivity. The software boasts popular features such as close management, reconciliation, and integration with existing ERP systems, which collectively help in automating and simplifying the accounting workflow. When compared to similar products in the market, users often highlight FloQast's user-friendly interface and robust support as distinguishing factors. Pricing considerations for FloQast typically involve a subscription model, where the cost can vary based on the size of the organization and the specific features required, ensuring that businesses only pay for what they need. Payment frequency is usually on a monthly or annual basis, providing flexibility to suit different budgeting requirements.

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User Sentiment i

Based on 52 reviews:

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#133

FloQast is ranked #133 in the Accounting Software product directory based on the latest available data collected by SelectHub. Compare the leaders with our In-Depth Report.

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FloQast Pricing

Based on our most recent analysis, FloQast pricing starts at $1,920 (Annually).

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Starting From: $1,920
Pricing Model: Annually
Free Trial: Yes, Request for Free

Training Resources

FloQast is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for FloQast:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

FloQast Benefits and Insights

Why use FloQast?

Key differentiators & advantages of FloQast

Speedy Accounting Process: Connect people, documents and reconciliations for a streamlined accounting process. Boost the most common accounting processes like expense management, billing and credit and close at an average of three days faster.
Easy Collaboration: Provide the tools to connect team members quickly and easily anywhere, anytime. Operate as a single, unified virtual team from anywhere.
Stay Audit Ready: Organize data to keep the business ready for smooth and efficient audits by documenting and time-stamping all the work processes.
Streamline Accounting Workflow: Streamline and automate common accounting workflow to save time, money and person-hours that would be otherwise spent on mundane tasks.
Easy Integration: Integrate with ERP systems and Excel workbooks to automate reconciliation ties-ups. Leverage traditional accounting tools.

Industry Expertise

It’s trusted by 1,000 accounting companies that serve health care, transportation services and real estate.

FloQast Reviews

Average customer reviews & user sentiment summary for FloQast:

52 reviews

97%

of users would recommend this product

FloQast has a 'excellent' User Satisfaction Rating of 97% when considering 52 user reviews from 1 recognized software review sites.

Synopsis of User Ratings and Reviews

Based on an aggregate of FloQast reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Streamlined Close Process: FloQast offers features to centralize and automate tasks, such as reconciliations and checklists, which can significantly reduce the time it takes to close the books each month.
Improved Visibility and Control: The platform provides real-time dashboards and reporting tools that give accounting teams better insights into the close process, allowing for proactive issue identification and resolution.
Enhanced Collaboration: FloQast facilitates communication and collaboration among team members by providing a centralized platform for task management, document sharing, and communication.
Reduced Risk of Errors: Automation and standardization of processes can help minimize the risk of human error, leading to more accurate financial reporting.

Cons

Steep Learning Curve: The initial setup and configuration of FloQast can be complex, requiring significant time investment and training to understand its functionalities and workflows effectively.
Limited Customization: FloQast's features and workflows may not align perfectly with the specific needs and preferences of all accounting teams, potentially leading to inefficiencies or workarounds.
Integration Challenges: Integrating FloQast with existing accounting software or other business systems can be technically challenging and may require additional IT support or custom development.
Cost Considerations: FloQast's pricing structure may be a concern for smaller businesses or those with limited budgets, as the cost can vary depending on the number of users and features required.

Researcher's Summary:

FloQast is a cloud-based accounting software specializing in cash flow management, bank reconciliation, and financial close processes. While some users praise its ease of use and time-saving features like automated reconciliation for various accounts, others express concerns about its price and limited features compared to competitors. For example, unlike Bill4Time, FloQast is a standalone accounting solution, meaning it may not integrate with as many other business tools.

FloQast's strength lies in its focus on streamlining financial close processes with templatized checklists for tasks like requesting information from department heads and confirming payments. This makes it particularly well-suited for businesses that prioritize efficient financial close procedures. However, businesses seeking a more comprehensive accounting solution with extensive integrations might find FloQast lacking.

Key Features

Security: Get SOC1 Type II certifications, which ensure review viability by a third-party auditor. Leverage a financial management software that utilizes SSL 256 AES encryption and leading authentication protocols.
Multi-Currency Support: Support all the major currencies, giving businesses the power to conduct transactions globally and seamlessly manage the month-end close across international boundaries
Zero Storage Fee: Ensure that sensitive data gets well secured in the system without charging an extra fee.
Implementation: Get implementation on the phone by a team of CPAs and accounting experts in only a few weeks, unlike other alternatives, which can take months.
GL Integration: Provide seamless integration with Cloud ERP that pulls out the GL balance and automatically matches it to the Excel spreadsheet, without any human intervention
Quick Implementation: Get it up and running in a few weeks. Eliminate costly, time-consuming implementations that come with associated risks.
Other Products:
- Close Management: Use Close to ensure that wrapping up the books is quick and easy. Save three days every month by organizing, automating and executing the close in the cloud.
- Account Reconciliation: Use Auto Rec Matching to match bank transactions to the general ledger in real time. Improve your account reconciliation without spending hours manipulating, color coding and copy-pasting data in Excel. Automate the accounting process and reduce review time and audit questions.
- Financial Reporting: Prepare the data for IPO day by documenting and assigning everything in the close process. Identify bottlenecks while the model documents and assigns respective work to team members.
- Flux: Automate report building and gain the flexibility to meet the business’s requirements. Deliver flux reports on time by periodically tracking sign-offs and communication.
- Analyze: Get rich insights to identify the problem areas and maximize productivity to enhance future closes. Promote a culture of accountability and improvement with historical financial data

Limitations

At the time of this review, these are the limitations according to user feedback:

Cumbersome administrative functions.
The fluctuation analysis module is basic and needs an upgrade.
Unable to separate reviewer and preparer due dates.
Limited integration between ERP systems.
Setting up recons is a challenging task.

Suite Support

Get support through phone and email. Users can find blogs, help guides, templates and other information under the resource tab. Customers can check out product overviews, the most requested product information and more.

Email: Access email support with a login.

Phone: +1 (818) 698-8262.

Training: Get whitepaper, blogs, templates and more on the resource page.

Tickets: Get answers to login problems by creating a ticket at the contact page.