Case Study: Laminex reduces manual cash allocation work with Esker Cash Application

Laminex reduces unallocated cash by 95% with Esker

Laminex, a major Australian manufacturer of laminates and decorative surfaces, faced significant challenges with its manual cash application process. The company's banking team was burdened by processing up to 700 payments daily, leading to long workdays and high volumes of unallocated cash, especially at month-end. Seeking to improve productivity and employee well-being, Laminex partnered with vendor Esker to implement its AI-powered Cash Application solution to automate the process.

By implementing Esker's cloud-based solution, Laminex achieved remarkable results in a short time frame. The vendor's technology enabled a 52% auto-allocation rate within six months, which contributed to a 95% decrease in unallocated cash at month-end and cut daily processing time by up to 50%. These improvements saved the team hours each day, drastically reduced month-end pressure, and allowed employees to focus on more valuable and interesting tasks, greatly increasing team well-being.

Laminex