Case Study: Stock Yards Bank & Trust achieves faster month-end reconciliation with SkyStem ART

Stock Yards Bank & Trust cuts reconciliation work by 30% to 35% with SkyStem

Stock Yards Bank & Trust, a nationally recognized bank with $2.4 billion in assets, faced a burdensome and time-consuming month-end account reconciliation process as it grew in size and complexity. The accounting team spent excessive time on administrative tasks, tracking down documentation, and ensuring sign-offs, which left little time for strategic initiatives. Seeking to streamline this critical activity, the bank's Corporate Controller evaluated solutions, including SkyStem's ART.

SkyStem implemented its ART solution, which automated reconciliations and introduced powerful features like electronic sign-offs, real-time reporting, and automatic alerts. The implementation was speedy and non-disruptive, taking less than a month with no cost. As a result, SkyStem's ART enabled the bank to achieve 30-35% time savings by system-reconciling a large portion of accounts and eliminating many manual tasks. The solution also provided greater transparency, built-in accountability, and improved internal controls.

Stock Yards Bank & Trust