Case Study: Formica Group achieves global payment and reconciliation automation with Cashbook

Automated cash application, reduced banking fees faster payment processing and simplified cash management

Formica Group, the global surfacing solutions company behind the Formica® brand, needed a way to centralize and streamline complex banking operations across Europe and beyond. Working with Cashbook, it sought to improve cash control, bank and ERP integration, and reduce the burden of managing dozens of bank accounts, multiple payment formats, slow cash application, and fragmented reconciliation processes.

Cashbook implemented its Global Payments, Bank Reconciliation, and Cash Application solutions, creating a standardized process for payments, collections, and reconciliation across regions. The results included 100% of European payments processed through Cashbook, over 90% automation of cash application, and more than 95% automation of bank reconciliation, along with lower banking fees, faster payment processing, and far better visibility and control over cash.

Formica Group

Karen Bryant

Finance Manager