New York City, New York Apr 19, 2024 (Issuewire.com) – Embarking on a journey of transformation of their month-end close process, the University of Wisconsin Credit Union implemented SkyStem’s flagship solution, ART with great success, as illustrated in this case study University of Wisconsin Credit Union has an asset size of over $5 billion, 300,000 members and is the 3rd largest credit union in Wisconsin. They needed to adapt to their growth and thought it innovative to make the month-end close process less manual; eventually, they stumbled upon SkyStem’s ART platform and knew this was the kind of software for which they were searching. The Director of Accounting speaks about how their month-end close process improved due to the implementation of automation.
Before ART, the UWCU accounting team had to manually reconcile up to 3,000 GL accounts; the tediousness of this inevitably led to careless mistakes that could have easily been avoided with a more efficient and controlled process. Not only did automation alleviate the mistakes made, but also allowed for a more advanced month-end close due to easily tracking reconciliations, reviewing them, and putting their close checklist on autopilot.
While these efficiencies significantly contributed to their success, the most substantial benefit came from the changes to the audit process. The auditors did not particularly care for the manual Excel tracking sheets – so to be able to show them all their documents in one place, generated from ART, with a click of a button, was game changing!
“Everything got better and easier and I did not have to feel embarrassed of this Excel tracking sheet, it simply was not a problem anymore.” Says Sandy.
The UWCU team has more to say on how they selected ART in their hunt for software, their selection criteria, the seamless integration, and tips for anyone out there looking to venture out into the software world. Read the full case study here!
Source :SkyStem
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