We are closing our books more efficiently

What are the best aspects of this product?

Floqast reconciliated our ERP (SAP Business By Design) and Excel soft-copies with incredible efficiency, and there was automatically more time for us to perform qualitative review of financial statements. Needless to say, we've mastered tackling reconciliation differences detected via tie processes and manual ticks. Now, we have a single location from where support schedules and document comments and reviews. There is no need of hard-copy reconciliation binders for our auditors, because review and sign-off evidence is directly accessible via FloQast.

What aspects are problematic or could work better?

Unlike real-time closure, the program doesn't close periods permanently, and it leaves them open for changes.

What specific problems in your company were solved by this product?

I think that the biggest benefit was getting rid of manual ticks and tie processes, since we are saving 4 hours on every closing. The checklist features cut even more time, because they allow people to focus on specific tasks. We've reduced overall closure time for 5 days at least. Amazing!

Are you a current user of this product?

Yes