In 2007, a publicly-traded global financial services company found itself in a pickle.
The company faced serious compliance concerns from the auditors when it was discovered that the balance sheet was off by over four billion dollars. Out of the 10,000 general ledger accounts, many of them were not reconciled regularly, some were reconciled carelessly, some were never reconciled and important documents were scattered among employee emails, shared drives and personal desktops. The account reconciliation process itself was unnecessarily complex, labor intensive and driven by volumes of spreadsheets. Rebuilding this disjointed process consumed millions of consulting dollars over a period of 12 months.
It is through this experience that SkyStem’s ART was born.
Financial Close Transformed
Headquartered in the heart of New York City, SkyStem delivers powerful account reconciliation and financial close applications for the enterprise that are easy to implement and a pleasure to use.
You will experience implementation in DAYS not MONTHS! Our software-as-a-service (SaaS) delivery model means instant deployment without pre-implementation downtime. Get up and running in a matter of days without compromising the security of your data and without interrupting your business.
Train users in HOURS not WEEKS. We remove the barriers of system adoption by bringing you an unsurpassed user experience. System functionality is based on the user’s natural behavior, so that the technology truly complements your financial-close process. Learning becomes intuitive when technology caters to your team instead of the other way around.