The Charles River Investment Management Solution (Charles River IMS) automates front and middle office processes for buy-side firms. The solution helps enable accurate and timely investment decision support for institutional and wealth managers, alternative investment firms, insurers and asset owners. Charles River IMS helps clients streamline operations, reduce risk, and improve reliability.
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FloQast
Score 9.4 out of 10
Mid-Size Companies (51-1,000 employees)
FloQast offers their financial close software to streamline accounting month end close, simply providing automation around reconciliation and eliminating human error, and visibility via a close status dashboard, as well as providing a complete audit trail.
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Pricing
Charles River IMS
FloQast
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Charles River IMS
FloQast
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
Required
Additional Details
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More Pricing Information
Community Pulse
Charles River IMS
FloQast
Features
Charles River IMS
FloQast
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
If your are large asset management company focused mostly on interest rate products and you are large institutional trader your way is the use of Charles River Portfolio Management & Risk Analytics account which is most reputable custodian institution which offers superior tool for bonds trading - Charles River IMS. Charles River Portfolio Management & Risk Analytics is focused on large bond traders, so is not offered for small hedge funds. It is not appropriate if you are small account holder and focused more on stock market offerings, margin trading and less focused on custodian reputation. There is no separate risk module for trading group risk management.
It's really good in ensuring all of our accounting/finance people are on the same page and knowing what work is outstanding, at what step in the process reconcs or checklists or at, if we're tracking on time, who may need some additional support, etc. It really does a great job of letting us know when accounts are out of balance and needs to be looked at again. Ensures we will be fully ready for audit and pass with flying colors.
It would be great to see drill down capabilities between account reconciliations/flux analyses that links to our transactional data in our ERP.
I would like to see a litte more customization available in the analytics tab to add custom filter drop downs.
I believe this is close to being released, but I'd like to see anticipated time commitments on the task level to be able to easily review capacity type reporting/analytics.
It has proven to enhance our procedures with closing. It is an effective tool that I would recommend to create a more efficient closing procedure and get the team more aligned. It increases the accountability among the staff and helps to keep us on task and on time. It is easy to sign into and has reminder emails for tasks that are coming up or late.
FloQast is incredibly intuitive and easy to use. The only reason I don't give it a 10 is that the Flux Analysis feature is not great in terms of getting the information into the system. Once it's in, fantastic! But some work is needed
We have only noticed a slight slow down in accessing FloQast on a couple of occasions (near the beginning of a month when many people were likely trying to get online to close their books). The issue has always resolved itself with three to five minutes, so it's never been a hinderance.
FloQast's performance is great. The pages always load quickly, and reports are completed fast! I've never noticed any slowdown in our ERP from the interface with FloQast.
They are rapid in their response. If they can't immediately offer a solution, they continue to keep in contact with you to let you know where they are in resolving your issues. The staff is friendly & speaks to you in layman's terms, not so high-tech that you can't understand
The FloQast team members are just so personable. FloQast has clearly done a great job hiring people who are not just good at what they do, but are also fun to work with! They have placed people in the right roles and the customer benefits from this. I have enjoyed every opportunity I've had to work with a FloQast team member on training.
The online training is good. But like all online, pre-recorded training, it is never quite as good as in-person or live training where one can ask questions or get clarification. That said, FloQast has an extensive training library and most of the time, if one finds they need help on a topic, it can be answered by going to the online training and watching appropriate recording.
Implementation occured before I started with the company (but despite the instruction to skip the question if I did not participate, the site required I put in a rating in order to move on to the next page)
Charles River Portfolio Management & Risk Analytics is a state of the art company which owns state of the art products Charles River Portfolio Management & Risk Analytics. If you are considering long term value, capital preservation strategy and pension funds management that is the right choice if holdien one account versus several to get systematic diversification. You can run even department of banks treasury with use of Charles River Portfolio Management & Risk Analytics. So good but focused on large investors needs and diversification focus.
I used BlackLine at my previous job. Now I use FloQast at my current job. FloQast is, in my opinion, much easier to use than BlackLine and the looks and feels of the website are more user friendly and visually pleasing. BlackLine seemed like a separate system and was not really connected to Intacct (they used Intacct as well at my previous job). Everything just seemed clumsy with that system. FQ is smoother.
We started using it with one client/customer and now use it with fourteen entities and plan to add two more in the next couple of months. It has made it possible to grow our business without hiring additional personnel. We can do more work with the same number of people
