Transforming Month-End Close Process at UWCU

This case study details the transformation of the month-end close process at the University of Wisconsin Credit Union (UWCU) through the implementation of SkyStem’s ART platform. Initially, UWCU faced challenges with manual reconciliations for approximately 3000 general ledger accounts, relying on Excel spreadsheets that led to errors and inefficiencies. The team utilized printed checklists and manual tracking, which complicated the review process and increased the risk of mistakes. After adopting ART, the reconciliation process became automated, significantly improving tracking and review efficiency. The platform provided features such as dashboards and audit trails, allowing for streamlined documentation and easier access for auditors. The case study also discusses the selection criteria for ART, emphasizing the importance of customer support and the need for a solution that enhances audit trails. Overall, the transition to ART not only simplified the month-end close tasks but also improved the overall workflow for the accounting team.