FloQast Review: Pros, Cons, Features, and Pricing
FloQast stands out with its intuitive interface and robust ERP integrations, making it a top choice for accounting teams focused on close management.
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FloQast is an accounting software built around the financial close process, covering reconciliations, checklists, and flux analysis for accounting teams managing month-end. I'd consider it over BlackLine if you want close management that's faster to implement and easier for accountants to navigate daily, without the overhead and complexity of a full enterprise platform.
FloQast Evaluation Summary
4.6/5
- Pricing upon request
- Free demo available
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Our team has been testing and reviewing software since 2012. As finance leaders ourselves, we know how difficult—and important—it is to choose the right software.
For this guide, we evaluated tools using hands-on testing and independent research, scoring tools using our selection criteria.
Our reviews reflect our human editorial judgment, not a sales pitch.
FloQast Overview
FloQast is a solid choice for accounting teams seeking efficient close management. Its standout features and ease of use make it ideal for mid-sized businesses, especially in tech and professional services. While onboarding could be smoother, its customer support is top-notch. Compared to other software, FloQast excels in collaboration and real-time visibility, but it’s not the best choice for firms that need complex integrations or extensive customization. If your team values user-friendliness and strong support, FloQast is worth considering.
Pros
- Intuitive interface.
- Real-time visibility of accounting data.
- Responsive and helpful customer support.
Cons
- Onboarding could be more straightforward for new users.
- Limited customization options.
- May not handle complex integrations as well as some competitors.
Is FloQast Right For Your Needs?
Who Would be a Good Fit for FloQast?
FloQast is ideal for mid-sized businesses and accounting teams in industries like tech and professional services. If your team values user-friendly software with strong support and wants to improve the efficiency of your month-end close process, FloQast can meet your needs. Its real-time visibility and collaboration features help your team members make timely decisions.
- Tech companiesFloQast's interface and collaboration tools are perfect for tech teams needing quick close processes.
- Professional servicesYour team will benefit from FloQast's accuracy and real-time updates if you’re a CPA or deliver other types of financial services to clients.
- Mid-sized businessesFloQast provides the right balance of functionality and ease of use for your growing business.
- Finance departmentsWith features that simplify account reconciliation (with the AutoRec addon), help with flux analysis, and generate variance analysis reports, your finance team can work more efficiently. It tracks all the accounting data you need to keep your balance sheet and income statement up to date.
- Accounting managersFloQast's real-time visibility helps you oversee and manage your team's tasks effectively.
- Audit preparationFloQast's accuracy and organization make it a valuable tool when preparing for audits.
Who Would be a Bad Fit for FloQast?
FloQast might not be the best choice for very small businesses or startups with limited budgets and simple accounting needs. If your team requires complex integrations or extensive customization, FloQast's capabilities may fall short. Large enterprises with intricate financial systems might find its features too basic for their requirements.
- Small startupsFloQast might be too feature-rich and costly for your simple accounting needs.
- Large enterprisesYour team might need more advanced features and customization than FloQast offers.
- Highly customized needsIf you need extensive customization, FloQast's capabilities might not meet your expectations.
- Complex integrationsFloQast may not handle the complex integrations your advanced systems require.
- Budget-conscious teamsFor teams with tight budgets, FloQast's pricing might not be justifiable.
- Manufacturing companiesYour intricate production and inventory processes might require more specialized software than FloQast provides.
How We Test & Score Tools
We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.
Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.
Core Functionality (25% of final scoring)
The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.
Standout Features (25% of final scoring)
Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.
We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.
Ease of Use (10% of final scoring)
We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.
Onboarding (10% of final scoring)
We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.
Customer Support (10% of final scoring)
We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.
Customer Reviews (10% of final scoring)
Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.
Value for Money (10% of final scoring)
Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.
Core Features
Financial close management
FloQast helps your team streamline the close process by organizing tasks and documentation in one place. It enhances efficiency and accuracy in closing your books.
Reconciliation management
You can automate and manage reconciliations with ease, reducing errors and saving time during audits.
Task management
FloQast lets your team track and assign tasks, ensuring everyone knows their responsibilities and deadlines.
Real-time visibility
Get instant insights into your financial close status, helping your team make informed decisions quickly.
Collaboration tools
FloQast provides features for team collaboration, allowing seamless communication and document sharing.
Document management
Easily store and access your financial documents, making it simple for your team to find what they need when they need it.
Ease of Use
FloQast is known for its user-friendly interface, making it easy for your team to navigate and manage the financial close process. Its intuitive design helps reduce the learning curve, allowing you to quickly adapt and get started. Features like task management and real-time visibility are straightforward, enhancing your team's productivity. Compared to other accounting software like Blackline, FloQast stands out for its simplicity and efficiency, ensuring your work is both effective and hassle-free.
Integrations
FloQast integrates with Slack, Salesforce, Microsoft OneDrive, NetSuite, Microsoft Dynamics 365, Sage Intacct, Microsoft Excel, Egnyte, SAP ERP, and QuickBooks. FloQast also offers an API, allowing you to connect with third-party integration tools for extended functionality.
FloQast Specs
- 2-Factor Authentication: Yes
- Accounts Payable: Yes
- Accounts Receivable: Yes
- API: Yes
- Balance Sheet: No
- Billing/Invoicing: Yes
- BitCoin: No
- Budgeting: No
- Calendar Management: No
- Contact Management: Yes
- CRM Integration: Yes
- Customer Management: No
- Dashboard: Yes
- Data Export: Yes
- Data Import: Yes
- Data Visualization: Yes
- Expense Tracking: No
- External Integrations: Yes
- Forecasting: Yes
- General Account Ledger: Yes
- Inventory Tracking: Yes
- Multi-Currency: Yes
- Multi-User: Yes
- Notifications: Yes
- P&L: No
- PayPal: No
- Payroll: No
- SAP Integration: Yes
- Stripe: No
- Supplier Management: No
- Tax Management: Yes
