Sep 27, 2018   SOURCE: PR NewsWire

Bob Mills Furniture Company's Successful Adoption of Account Reconciliation Software

NEW YORK, Sept. 27, 2018 /PRNewswire-PRWeb/ -- SkyStem LLC, a provider of automated month-end close account reconciliation software, is pleased to announce Bob Mills Furniture's success story on adopting ART. Founded In 1971, Bob Mills Furniture has grown across the northern and western part of Texas. Their eight retail locations deliver high quality and affordable furniture and accessories for bedrooms, dining rooms, and living rooms.

Due to the company's rapid expansion and the operational support required, it was becoming more and more difficult each month to complete balance sheet account reconciliations on a timely basis. The accounting team remained very lean, with each member taking on numerous roles. Competing priorities resulted in sometimes pushing back the reconciliation work until far after the month-end close was completed. The accounting team recognized the need to achieve 100% balance sheet coverage and strengthen key controls around financial reporting. This prompted the team to search for automated solutions, ultimately selecting SkyStem's ART.

The accounting team initially struggled to adopt ART due to other ongoing projects that had to be completed first, as well as staffing changes. However, the team never gave up on the reconciliation project and ended up hiring a new team member to help. In addition to her regular duties, she was also tasked with leading the full adoption of ART. The SkyStem customer support team reached out to her to re-engage the team in training, and within the first two months, the team was able to complete its very first reconciliation cycle in ART.

Bob Mills Furniture utilized SkyStem's online job aids and customer support service for a better understanding of the specific features that would benefit the company's needs. With SkyStem's award-winning 97% customer satisfaction rating, Bob Mills' accounting team typically receives a support response in under one hour. With the help of the customer support team, Bob Mills' accounting staff, was able to significantly reduce the time spent on simple and recurring reconciliations and was able to redeploy important resources to other areas during month-end close.

"We love being informed by SkyStem personnel about the features we should use and how to utilize them properly."

Since implementing, ART has enabled Bob Mills Furniture to: 

    --  Prepare accurate reconciliations
    --  Increase visibility within each account
    --  Help the team reach their reconciliation deadline
    --  Save time and focus efforts elsewhere in the business
    --  Reduce 40% to 50% of reconciliation volume each month through system
        reconciliation rules
    --  Automate repetitive reconciliations, like prepaid accounts
    --  Centrally attach and manage supporting documents

For more information on Bob Mills Furniture's success and benefits from adopting art, read their case study here.

About SkyStem LLC

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 the time to issue financials by automating balance sheet reconciliations, managing month-end tasks, and providing insightful reporting. The web-based solution streamlines and eliminates up to 90% of manual activities while strengthening internal controls and corporate governance.

SOURCE SkyStem