Case Study: ILMO Products streamlines cash application and bank reconciliation with Cashbook

ILMO Products automates 95% of lockbox payments with Cashbook

ILMO Products Company, a family-owned industrial gas and welding supply company, faced a fragmented cash management process. Using multiple systems led to significant challenges in cash application and bank reconciliation, requiring five employees to perform manual, paper-based work that was prone to errors and variances. To address this, ILMO partnered with vendor Cashbook to implement its Cash Application and Bank Reconciliation solution.

Cashbook's solution integrated with ILMO's ERP, creating a single connected process. This automation allowed ILMO to automatically apply 95% of lockbox payments and automatically match 80% of bank transactions. The measurable impact was a reduction in the team required for these processes from five employees to three, while also eliminating variances between their records and the bank.

ILMO Products Company