FloQast vs novacly

FloQast is accounting workflow software for teams handling close, reconciliation, accounting operations, and compliance. It brings close tasks together, tracks progress, and helps surface dependencies and bottlenecks across teams and entities. Its tools automate reconciliations, transaction matching, and journal entry workflows, with review and approval steps. Teams can review AI-generated transaction-matching rules; FloQast says its AI learns from user inputs. The platform includes audit trails, task dependencies, recurring templates, multi-entity close, and native ERP connectivity. FloQast lists integrations spanning ERP, banking, accounts payable, collaboration, communications, documentation, identity management, and payroll, including ADP, Box, Google Drive, Microsoft Teams, and Slack. The service is cloud-based and browser-accessible, with macOS and Windows support. FloQast says it provides a SOC 3 report, conducts annual penetration tests on high-risk products and infrastructure, and holds ISO/IEC 42001 certification for its accounting transformation platform. The company was founded in 2013 and is headquartered in Los Angeles. It is paid, has no free plan, and offers customized packages with pricing on request.

Novacly is a financial close, consolidation, reporting and planning platform for finance teams managing 5–50+ entities. Close workflows include task templates, dependencies, deadlines, team assignments, status dashboards and activity audit trails. The platform imports trial balances from CSV, Excel or API sources and supports direct, split, formula and bypass transformation rules. Reports can be selected by entity, period, scenario and layer, filtered by dimensions, drilled down to source transactions, and exported to Excel or PDF. Planning covers driver-based plans, rolling forecasts, actuals-based seeding, cost allocations, and segment submission and approval workflows. An Excel add-in provides 11 custom formulas for retrieving financial data and refreshing it from Excel. AI can suggest account mappings, produce variance commentary, answer natural-language data queries and match intercompany items; users review and decide on its outputs. The maker says data is encrypted at rest with AES-256-GCM and in transit using TLS, with tenant isolation through PostgreSQL Row-Level Security. The product is in beta and has not completed formal compliance audits; the maker advises against using it as a system of record until certifications are achieved.