Case Study: Portwest streamlines cash application with Cashbook

Portwest reduces unallocated cash by 90% with Cashbook

Portwest, a global manufacturer and distributor of protective workwear and PPE, was struggling with a highly fragmented and manual cash allocation process. The challenge involved manually processing around 16,000 payments per month across 19 bank accounts and 5 divisions, leading to over 2,000 unallocated items and requiring 30 hours of manual work daily. To address this, they worked with Cashbook.

Cashbook implemented its solution to automate bank file imports, automatically match open items, and update the ERP system. This standardized processes across all accounts. The results were significant, with 96% of customers automatically identified and 64% of transactions fully matched. Unallocated cash was reduced from 2,000 to around 200 items, and the daily manual workload was cut from 30 hours to just hours, saving over 20 hours of work each day.

Portwest