ICBA Solutions-Directory

Headquartered in the heart of New York City, SkyStem delivers a powerful close and account reconciliation application for organizations seeking to streamline their financial processes. The company’s flagship solution,
ART, is an enterprise technology that helps CFOs and Controllers shorten the month-end close and time to issue financials by automating balance sheet reconciliations, managing month-end tasks, flux and variance analysis along with providing insightful reporting. The web-based solution streamlines and eliminates up to 90% of manual activities while strengthening internal controls and corporate governance. ART's key benefits include reconciliation automation, automatic reporting, real-time updates, fast implementation and access from anywhere.

SkyStem’s ART equips executives with striking insight into their balance sheet by transforming the close and account reconciliation process.

Reconcile accounts efficiently, effectively and manage documents electronically.

Reconcile in standard reconciliation forms and in multiple currencies.
Reconcile multiple periods simultaneously.
Utilize system algorithms to perform up to 40% fewer reconciliations each month.
Electronic sign-off. Paperless review process.
Transactional matching between data sets.
Real-time dashboards to monitor status, exceptions, and more.

Manage the Close checklist and other tasks.

Automate the Close checklist during the financial reporting process.
Assign tasks for team members to complete.
Link task activity and documents to balance sheet accounts to enhance reconciliation process.
E-mail notification upon task assignment, completion and approval.
Archive close documents, such as analyses or journal entry support, and more.

Flux the balance sheet based on pre-set percentage and/or dollar thresholds.

Automatically identify accounts that exceed management thresholds.
Perform flux analysis on a monthly, quarterly, annual or as needed basis.
Assign owners to explain variance and attach support.
Electronic sign-off and up to two levels of approval.
Email notifications on status change and due dates.

Compare P&L fluctuations based on pre-set thresholds or against budget.

Automatically identify accounts that varies materially from budget or against prior periods.
Perform P&L variance analysis on a monthly, quarterly, annual or as needed basis.
Assign owners to explain variance and attach support.
Electronic sign-off and up to two levels of approval.
Email notifications on status change and due dates.

Certify and validate the balance sheet from the top.

Macro-level validation of the balance sheet reconciliation process.
Certification of account ownership, account balances and exceptions by level: staff, manager, etc.
Staff, manager, and controller may require mandatory sign-off to a variety of custom data:
- Unusual Balances
- Delinquencies
- Account Status
- Open Items
- Quality Score
- Total Exceptions
- CEO / CFO Certification, and more

Produce both insight and oversight in real time.

Real time “grading” of reconciliation quality.
Real time executive dashboards (CFO/Controller) that drill down to individual accounts and owners.
Role based access to key reports (delinquencies, write-offs, exceptions, open items aging, etc.).
Electronic report sign off and archiving for any role, any time.
Ability to extract reports as PDF or spreadsheet, and more.

Do away with spreadsheets, crazy emailing, and manual distractions. Enjoy ART’s powerful workflow management and reporting tools to automate account reconciliations and become more productive without ever installing software.

SkyStem has collected several awards over the years that speak to the quality of ART. The awards range from Software Company of the year, Most Affordable Month-End Close Solution, Best in Class Accounting Software, and Customer Service Team of the Year! Check out https://skystem.com/awards/ to see all of SkyStem’s awards!

Shagun Malhotra

Primary Contact

+1 877.778.3320

[email protected]

Service Area	Other
Service Area Description	International