MBL Live with Cashbook V5.1 Lockbox Solution

On the 12th February 2009, MBL located in Ottawa IL, outside of Chicago, running BPCS 8.2 went live with Cashbook (CBK) Lockbox Solution latest release (V5.1). Having tested extensively in their UAT environment, MBL were more than happy to go live in February 2009. All lockbox files from the 1st February 2009 to the 28th February 2009 have been processed and an analysis of this period shows a 91% match rate to open AR using CBK automatic matching algorithms. MBL also implemented the Cashbook Journal Entry solution for ACH & Wires entries so that it was possible to use one application for all their AR cash transactions.

Within V5.1, CBK has the ability to adapt to user specific requirements with its wide range of matching algorithms now available.

MBL are looking now to expand CBK in order to process EDI files. The Cashbook EDI solution will be used to process MBL’s larger volume customers in order to significantly reduce the time taken for AR Cash Application.

Phase II of the project is expected to increase the AR matching rate further by:
a) incorporating additional matching rules based on Part Number,
Sales Order Number and Customer Purchase Order Number.
b) incorporating tolerances within some matching rules.

All of the above solutions enable MBL to spend the time investigating the exceptions or other Accounting tasks and let CBK automatically deal with the rest.

Mary Wooden, main Cashbook user stated “The Bank Lockbox process is great because it saves a lot of time. Even with manual cash application I prefer to use Cashbook rather than ACR500 Cash & Memo Posting in BPCS v8.2. We’re really looking forward to having all of our EDI files automatically processed just like the bank lockbox files which will save me even more time.”