SkyStem launches the Profit and Loss Variance Module for ART.
NEW YORK, Oct. 27, 2020 /PRNewswire-PRWeb/ -- SkyStem LLC, a leading provider of automated month-end close software, is excited to announce the release of the Profit and Loss (P&L) Variance Module. The new module will be offered in ART's Enterprise Plus package and will allow ART users to perform variance analysis during month-end close.
Management may establish period-to-period, quarter-to-quarter, and/or year-to-year variance thresholds for account balances that, once exceeded, kick off a preparation and review workflow. This allows accountants to document variance explanation in a standard form, attach supporting documents, sign-off electronically and route for review. There are two levels of review available. As general ledger account balances refresh during the course of performing close and reconciliation work in ART, the variance analysis calculation, workflow and sign-offs also update as appropriate.
"We are excited to share our new module and provide our customers with even more tools to automate the month-end close," said Shagun Malhotra, CEO of SkyStem. "We look forward to helping our customers onboard ART newest module which will extend their ability to automate, manage and gather insight."
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About SkyStem LLC
Headquartered in the heart of New York City, SkyStem delivers a powerful month-end close solution 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, performing flux and variance analysis, and providing insightful reporting. The web-based solution streamlines and eliminates up to 90% of manual activities while strengthening internal controls and corporate governance.