PROCAS vs FloQast
Last Updated:Our analysts compared PROCAS vs FloQast based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
Product Assistance
Product Insights
- Streamlined Compliance: PROCAS ensures adherence to government regulations, such as DCAA compliance, by automating audit trails and providing detailed reporting capabilities.
- Enhanced Financial Accuracy: The software minimizes human error through automated calculations and real-time data updates, ensuring precise financial records.
- Time Efficiency: By automating routine accounting tasks, PROCAS frees up valuable time for employees to focus on strategic activities rather than manual data entry.
- Improved Decision-Making: Access to comprehensive financial data and analytics enables informed decision-making, helping businesses to identify trends and optimize resource allocation.
- Cost Savings: Reducing the need for manual processes and minimizing errors can lead to significant cost savings in both labor and operational expenses.
- Scalability: PROCAS can easily adapt to the growing needs of a business, accommodating increased transaction volumes and expanding operations without requiring significant system overhauls.
- Security and Data Integrity: The software employs robust security measures to protect sensitive financial data, ensuring that information remains confidential and intact.
- Customizable Reporting: Users can tailor reports to meet specific business needs, providing insights that are directly relevant to their unique operational context.
- Seamless Integration: PROCAS integrates smoothly with other business systems, such as payroll and project management tools, creating a cohesive ecosystem that enhances overall efficiency.
- User-Friendly Interface: The intuitive design of PROCAS makes it accessible to users with varying levels of technical expertise, reducing the learning curve and increasing productivity.
- Real-Time Collaboration: Multiple users can access and work on the system simultaneously, facilitating collaboration and ensuring that everyone is working with the most current data.
- Comprehensive Support: Users benefit from extensive customer support and training resources, ensuring that they can maximize the software's potential and address any issues promptly.
- Project Cost Management: PROCAS provides detailed insights into project costs, helping businesses to manage budgets effectively and avoid cost overruns.
- Audit Readiness: The software maintains thorough records and documentation, simplifying the audit process and reducing the stress associated with compliance checks.
- Flexibility in Deployment: Whether on-premise or cloud-based, PROCAS offers deployment options that suit different business environments and IT strategies.
- 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.
- Timekeeping System: Offers a user-friendly interface for employees to log hours, ensuring compliance with DCAA requirements.
- Expense Reporting: Streamlines the process of submitting and approving expenses, with built-in audit trails for accountability.
- Project Costing: Provides detailed tracking of project costs, allowing for precise budget management and forecasting.
- Indirect Rate Management: Facilitates the calculation and application of indirect rates, crucial for government contract compliance.
- Financial Reporting: Generates comprehensive financial reports, including balance sheets and income statements, tailored to government contracting needs.
- Billing and Invoicing: Automates the creation of invoices based on contract terms, reducing manual entry and errors.
- Contract Management: Tracks contract modifications and funding, ensuring accurate billing and compliance with contract terms.
- Security and Access Controls: Implements role-based access to protect sensitive financial data and ensure only authorized personnel can access specific information.
- Integration Capabilities: Seamlessly integrates with other systems such as payroll and HR, enhancing data consistency and reducing duplication of efforts.
- Audit Support: Provides detailed audit trails and documentation to support internal and external audits, ensuring transparency and accountability.
- Multi-Company Support: Manages accounting for multiple entities within a single system, simplifying consolidation and reporting.
- Customizable Dashboards: Offers personalized dashboards for users to monitor key performance indicators and financial metrics at a glance.
- Compliance Monitoring: Continuously updates to reflect changes in government regulations, helping businesses maintain compliance effortlessly.
- Training and Support: Provides comprehensive training resources and responsive customer support to ensure users can effectively utilize the software.
- Data Import/Export: Facilitates easy data transfer to and from the system, supporting various file formats for flexibility.
- Scalability: Designed to grow with your business, accommodating increasing data volumes and more complex accounting needs over time.
- Real-Time Data Access: Enables users to access up-to-date financial information, supporting timely decision-making and strategic planning.
- Custom Reporting Tools: Allows users to create tailored reports to meet specific business requirements, enhancing analytical capabilities.
- Mobile Accessibility: Provides mobile access to key features, enabling remote work and on-the-go management of accounting tasks.
- Budgeting and Forecasting: Supports detailed budgeting processes and future financial projections, aiding in strategic planning and resource allocation.
- 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
Product Ranking
#36
among all
Accounting Software
#48
among all
Accounting Software
User Sentiment Summary
6 reviews
52 reviews
PROCAS has a 'excellent' User Satisfaction Rating of 97% when considering 6 user reviews from 1 recognized software review sites.
FloQast has a 'excellent' User Satisfaction Rating of 97% when considering 52 user reviews from 1 recognized software review sites.
Awards
PROCAS stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.
FloQast stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.
Synopsis of User Ratings and Reviews
How do you account for PROCAS's popularity among government contractors? User reviews from the past year reveal a consistent narrative: PROCAS is a robust accounting software specifically designed for government contractors, particularly those seeking DCAA compliance. Users rave about its integrated timekeeping and accounting features, which streamline processes and improve accuracy. One user, for instance, highlighted how PROCAS "calculates indirect rates and applies rates to our projects," simplifying a typically complex task. This integration is critical for government contractors who need to precisely track and allocate costs to meet regulatory requirements. However, some users find the software's customization options, particularly for indirect rates, to be somewhat cumbersome and time-intensive. Additionally, a few users expressed that the reporting functionality could be more robust, limiting their ability to generate comprehensive financial analyses. For example, one user wished for a consolidated monthly profit and loss report spanning 12 months, instead of having to generate individual reports for each month. Despite these drawbacks, PROCAS consistently receives high praise for its ease of use, especially for a software dealing with the intricacies of government accounting. This user-friendly design makes it a perfect fit for small to mid-sized government contractors who may not have dedicated IT resources. Moreover, its affordability, compared to enterprise-grade solutions like Deltek Costpoint, makes it a compelling choice for budget-conscious firms. In essence, PROCAS proves that you don't need a prodigious budget to implement effective and compliant accounting practices.
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.
Screenshots
Top Alternatives in Accounting Software
Accounting Seed
Acumatica
BQE Core
Dynamics 365 Finance
FreeAgent
Freshbooks
Manager
Odoo Accounting
Oracle Financials Cloud
Patriot Accounting
QuickBooks Online
Sage 50cloud Accounting
Sage Intacct
SAP Business One
SAP S/4 HANA Finance
TallyPrime
Wave Accounting
Workday Financial Management
Xero
ZarMoney
Related Categories
WE DISTILL IT INTO REAL REQUIREMENTS, COMPARISON REPORTS, PRICE GUIDES and more...
