Case Study: Meritus Texas streamlines cash application and bank reconciliation with Cashbook

Meritus Texas cuts cash application time to under 2 hours with Cashbook

Meritus Texas, a Texas-based distributor of industrial gases and welding supplies, faced a significant challenge in its treasury operations. The manual process of handling deposits and ACH payments required coordination between three team members and consumed several hours each day. Furthermore, reconciling 18 separate bank accounts was a resource-intensive task that created inefficiencies and placed a heavy administrative burden on its finance team.

By implementing Cashbook's Cash Application and Bank Reconciliation modules, the company automated its payment processing. The solution delivered dramatic results, including a 95% auto-match rate for lockbox deposits and a 75% rate for ACH transactions. Most notably, Cashbook enabled Meritus Texas to reduce its cash application processing time from over half a day with three employees to less than two hours with a single team member, achieving massive gains in efficiency.

Meritus Texas