Case Study: Formica Group achieves 90%+ cash automation with Cashbook

Formica automates 95% of bank reconciliation with Cashbook

Formica Group, a global provider of surfacing solutions, faced challenges with inefficient cash management across its 56 European bank accounts, including high bank charges, slow cash application, and poor cash visibility. To streamline its operations and improve bank and ERP integration, the company sought a cash management software solution from Cashbook.

Cashbook implemented its Global Payments, Bank Reconciliation, and Cash Application modules, providing full bank and ERP integration. This solution automated over 90% of cash application and over 95% of bank reconciliation processes, saving countless hours and giving treasury greater control. Cashbook now manages 100% of Formica's European payments, facilitating a successful global roll-out of the platform.

Formica Group