SkyStem LLC, a leading provider of automated month-end close account reconciliation software, is pleased to share Nitto’s success story. After multiple acquisitions and some organizational restructuring, the centralization of Nitto’s month-end close process was extremely cumbersome, the accounting team was in need of a solution. With multiple sites spread throughout the world, the manual nature of the month end close was not conducive to maintaining the highest levels to J-SOX internal controls. Tailored demos and a prioritization of the team’s key business requirements, made SkyStem the vendor of choice.
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“We had a narrow objective and didn’t want to implement something that we weren’t 100% certain on, nor did we want a software that was overwhelming. ART was a necessity for us.” said Nitto’s Corporate Controller. “The close is the last thing completed before issuing financials, and reconciliations are one of the key closing activities. There certainly are reconciliation elements in all aspects of fraud detection.”
Since implementation, ART has enabled Nitto to achieve:
- Increased efficiency and time savings
- Total transparency and real time status
- Decreased financial statement risk through high quality reconciliations while reducing paperwork.
- Automated internal controls while preventing and detecting errors more easily
