FloQast Nets High Marks for Ease of Use, Customer Satisfaction, and Plenty More in 2021
Oct 27, 2021 | By John Siegel
This article was updated in October 2021 to reflect the latest data from G2.
We've got some great salespeople, but they aren't the best at selling FloQast. Not by a long shot. In fact, our top performers don't even work in our office! That's because again and again, our best salespeople are our customers.
While we’re continually soliciting feedback from our customers to improve our close management software, it’s always a nice surprise to see what they’re saying about us behind our backs. For the third year in a row, we are proud to say that, according to G2, we’re outranking our competition by a long shot, and we wanted to share the great news.
G2 is the largest peer-to-peer, business solutions review platform that aggregates user reviews for business software. Reviews are authenticated and can’t be altered by the companies whose products are being reviewed, so many buyers use them to research options.
So what exactly did customers have to say?
This year, customers gave FloQast near-perfect scores of 97% for two imperative metrics: “Quality of Support” and “Ease of Doing Business With.” BlackLine, meanwhile, trailed a full 10% behind in each respective metric. Getting a bit more specific, FloQast users said their direct contacts were responsive, knowledgeable, and high-quality. “FloQast not only comes with amazing features for accounting, but exceptional service,” says Christina, Accounting Manager at LOXO Oncology. “We are treated like family and our questions always have immediate responses.”
The future is plenty bright for FloQast — at least that’s what our users say! According to the latest G2 data, 100% of FloQast users said the product was headed in the right direction, as compared to 94% of BlackLine users who said the same. FloQast customers put emphasis on the company’s innovation and anticipation of customers’ needs and requirements, and there’s no greater compliment.
Users ranked FloQast higher than BlackLine in all metrics for Financial Close Results (likely to recommend, meets requirements, estimated ROI, and other factors), earning an overall score of 9.35 to BlackLine’s 8.24 rating. Users were especially keen on FloQast’s estimated ROI. “I have used other software that offers the same thing, but FloQast surpasses these other products,” said Jonathan, Senior Accountant at Viewpoint. “It is user-friendly and only took one 45-minute training and our accounting team was good to go.”
BlackLine trailed a full 20% behind FloQast on the Net Promoter Score scale — a trusted customer experience metric that is relied upon by millions of businesses. FloQast’s NPS in 2021 was an 87 out of 100, no small feat when it comes to customers’ perceptions of your offerings and services.
FloQast Pays for Itself in 8 Months on Average
On average, FloQast users reported an eight-month payback period. A staggering 35% of FloQast users said that their payback period (estimated ROI) was six months or less — which was the fastest time offered as an answer — and, in all, 82% found their estimated ROI to be 12 months or less. In addition to empowering accounting teams to close faster and more accurately, delivering quick ROI is one of the things that gets us most excited.
When compared to the competition, FloQast’s performance set the pace. The competition’s average payback period comes in at just over two years at 25 months, with 9% of customers stating they never got a full payback. Every single FloQast customer reported they had received value within three years, and we’re proud of that!
71% of Setups Completed in Under One Month
Time to go live is another area where FloQast shines. An impressive 71% of users said that they were able to go live in less than a month (there was even a sizable group who said they went live in less than a day). FloQast received a 93% score in the “Ease of Setup” category. Ease of use is one of our main priorities at FloQast so it was meaningful to earn a 96% rating from our customers in that area! We know that our customers’ teams will quickly adopt software that is easy to implement and use.
A long implementation is a costly implementation, and it’s a drain on the accounting team’s enthusiasm for a new application. Our competition, by contrast, only had 5% of customers report that they were able to go live in less than a month. Nearly two-thirds of BlackLine’s customers took more than three months to go live. As a result, it probably shouldn’t come as a surprise that they received only an 80% grade in “Ease of Setup.”
FloQast Users Have a High Level of Satisfaction
When it comes to overall customer satisfaction, the difference between FloQast and the competition is pretty stark.
When considering all the customer-experience metrics measured by G2, FloQast earned an average rating of 4.8 out of a possible 5. To help buyers better understand the data it compiles, G2 created the G2 Satisfaction Score. The advanced metric uses an algorithm to factor in user ratings and normalizes each measurement so the score is relative to other products. As a result, FloQast earned an amazing 97 on the G2 Satisfaction Score, in comparison to BlackLine’s 88.
We encourage companies who are considering close management software to learn just how our customers are benefiting from FloQast. See these real-world examples of how FloQast streamlines the month-end close, helping to manage all the moving parts of your accounting team, eliminating manual ticking and tying, and allowing you to hit deadlines without micromanagement.