Case Study: Interstates reduces payment processing time with Commerce Bank's Integrated Receivables Cash Application Cloud

Iowa-Based electrical contractor reduces payment processing time.

Interstates, an Iowa-based electrical contractor experiencing rapid growth, faced a challenge in manually processing payments, which was consuming three to five hours of their staff's time each day. To optimize their back-office operations, they partnered with vendor Commerce Bank, which recommended its Integrated Receivables Cash Application Cloud solution to automate their accounts receivable process.

Commerce Bank implemented its AI-powered Cash Application Cloud, which automatically matches customer remittance information to outstanding invoices and applies payments without human intervention. As a result, Interstates reduced its daily payment processing time from several hours to just about one hour, even with only half of its payments flowing through the new system initially. The solution from Commerce Bank allowed the company's staff to focus on exceptions rather than manual data entry, significantly improving efficiency.

Interstates