Case Study: Exide Technologies achieves 50% faster cash application with Cashbook lockbox automation

Exide Technologies reduces cash application time by 50% with Cashbook

Exide Technologies, a global leader in stored electrical energy solutions, faced a demanding lockbox process that required manually downloading bank files, allocating remittances in their ERP, and gathering remittance information for electronic payments. They came to Cashbook seeking an automated solution to streamline this process.

Cashbook implemented its AR Bank Lockbox solution, which integrated with Exide's JDE ERP system. The solution used automated uploads and customized matching algorithms to process lockbox files overnight. This resulted in Exide reducing its cash application time by over 50% and achieving up to 95% automation rates for its North American and European lockbox processes.

Exide Technologies