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News and Views from the Cashbook team

Check stock is dead, long live the 3rd Party Check

To borrow from the great Mark Twain, reports of the demise of the check are greatly exaggerated. This payment instrument continues to enjoy immense popularity. Especially in North America within the Small to Medium Business (SMB) and Business to Consumer (B2C) sectors. However, it’s true that digital is the future. The payments landscape will continue to shift toward digital payments, as service providers continue to innovate and make it easier and cheaper to go digital. However, the humble check has also benefitted from innovation even as it continues to lose […]
Trinity Industries moves to the web version of Cashbook

Headquartered in Dallas, Texas, Trinity Industries, Inc. is a premier provider of railcar products and services in North America that markets its business under the brand name TrinityRail®.  TrinityRail subsidiaries in Mexico have been using Cashbook for the last 2 years to automate their Cash Application process. Trinity went live in September with Cashbook V6, the new cloud-native version of Cashbook. This new version includes an improved user interface and workflow to enhance the user experience. As it is accessed by browser, V6 is equally at home hosted on-premise or […]
Large shift towards Cash Automation software

Over the last few months, there have been huge challenges for businesses and industries all over the world. A few industries have been lucky enough to see profits increase and business soar. However, the majority of companies have experienced temporary closures, fall in production, decrease in revenues, and sadly enforced staff reductions. Pressure on finance departments to achieve goals faster There is huge pressure on finance teams to complete their tasks quicker than ever before. There is now an urgency to improve cash flow within organisations, to help in planning […]
Cashbook and AWS, Azure and Google Cloud Platform

There are three main players when it comes to cloud infrastructure today: Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform (GCP). However, there is one clear leader who has the same market share as it’s three closest rivals combined – AWS. This was mainly due to Amazon’s early diversification into public cloud services, a near seven-year head start on its rivals. Their growth in this space has been relentless. Recent figures below show that by the end of Q2 in 2020, AWS held 33% of the public cloud […]
Cashbook partner with Sidetrade for full Order-to-Cash automation

Cashbook and Sidetrade have partnered to combine their expertise in the Order-to-Cash area for the next generation of finance automation technology. This partnership merges Cashbook’s 20+ years of cash allocation automation experience with Sidetrade’s 20+ years in the credit and collections arena. Sidetrade, a Euronext-listed company with €30m+ in annual revenues, has made the combined solution available on its AI-enhanced Augmented Cash platform. This will enable customers to rapidly meet their business needs and tackle the evolving financial challenges presented in the new working environment. The Order-to-Cash automation efficiencies from […]
Bank Rec automation improves cash position and cash flow

Cash is the lifeblood of any business, if cash dries up then a company will eventually die. Bank reconciliations (bank rec) are hugely important in maintaining internal control along with a steady and consistent cash flow. Cash flow is separate from cash position, as having cash on hand is important but cash flow indicates an ongoing ability to generate and use cash. Having a strong cash position and a positive cash flow are common company financial goals. A company will process a bank rec at least once every month, in […]
Three Key Challenges of Bank Reconciliation

As we know, a successful bank reconciliation (bank rec) is very hard to achieve for any company. Especially when the bank rec is done manually, there are multiple challenges and roadblocks that stand in the way of a successful completion. Bank recs are a very useful financial control tool, which are used to identify any issues within the company financials. They can highlight any fraudulent activities, by showing differences between bank balances and company ledger balances. We are now going to discuss the three key challenges of bank reconciliation. 3 […]
Cashbook staff show hidden talents on lockdown in Ireland

Ireland enters lockdown In this article, we take a look at what Cashbook staff have been getting up to during lockdown. To give some background, Ireland and its people have been on lockdown since March 12th. When Prime Minister, Leo Varadkar, announced that we were going into lockdown for two weeks. On March 27th it was announced that Ireland was going into full lockdown mode for another two weeks. All schools, sports, restaurants, pubs, cafés, and non-essential shops and services were forced to close. On April 10th the lockdown was […]
How is Covid-19 impacting B2B & B2C payment trends?

During the pandemic and the enforced lockdown that occurred in many countries, there have been huge changes with Covid-19 payment trends for both B2B and B2C. In this article, we take a look at some of these Covid-19 payment trends and how businesses had to very quickly adapt their model and payment infrastructure overnight. “Bricks and mortar” outlets had to close their doors and people shifted to online shopping for almost every need. We investigate some of these trends and take a look at some of the winners and losers […]
Changes in payment trends over the last 10 years

The history of payment trends Paper to Plastic Payment trends have changed hugely in the last 10 years, before we examine that time period, we will quickly look at the evolution of payments throughout history. Payments have changed fundamentally down the years. In the two images below, we can see the evolution from the first paper money used in the year 806, right through to checks, wire transfers, credit payments, and finishing with numerous methods of plastic payments up to 1979. Online Payments Once the internet was developed and business […]
Cashbook launch Business Process Outsourcing

Cashbook provides instantaneous outsourcing service for customers For over twenty years, Cashbook has focused upon providing financial software for automating Cash Application, Electronic Payments and Bank Reconciliation processes. During the Covid-19 pandemic, one of our luckier customers became overwhelmed with extra work due to high transaction volumes. A Friday night phone call was made to Cashbook for help, and work began on Monday morning to clear the huge backlog of unapplied cash. With Cashbook’s experienced team of support and product consultants, we were able to offer a two-week business process […]
Three Key Challenges of Cash Application

Cashbook has over twenty years supplying Cash Application software around the world. During that time, we’ve come across many different cash automation challenges. The three key challenges of Cash Application automation are outlined below: Digitizing Remittances Lockbox services involves banks collecting checks from a designated address (usually a P.O. Box) then process these checks on your behalf, and deposit them directly into your bank account. To eliminate bank keying fees, we take images of checks and remittances and use OCR functionality to digitize the data. Special challenges encountered and resolved […]
Cashbook extends reach in Sub-Saharan Africa with Penny Buthelezi

Cashbook is delighted to announce an expansion into Sub-Saharan Africa with our newest partner Penny Buthelezi. Penny is a dynamic entrepreneur with great business acumen and is based in Johannesburg, South Africa. She has pioneered new business models, strategic partnerships and promoted trade and investment growth through business development initiatives. She has a particular focus on international companies looking at expanding their global reach and investments in emerging markets. For over 15 years, Penny has played a pivotal role in strategic and business development for companies such as: Microsoft, Rand […]
Cashbook v5.X – New Features Revealed

Cashbook’s latest release is v5.X. This follows on the footsteps of last year’s v5.9, it includes an incremental group of new improvements. Here is what our users can expect to find in Cashbook v5.X. Reconciliation – With bigger and bigger customers, we have created batch inserts in reconciliation for faster processing within the action buttons, for closing of reconciliations and carry forward processes. New buttons for toggle selected/all like in cash application will help all our users.  New fields for showing carried forward items at a header level help with […]
A St Patrick’s Day like no other

St. Patrick’s Day 2020 St. Patrick’s Day 2020 will be a day to remember long into the future for the Irish people and all those around the world. This national holiday would usually see the streets, pubs and local communities abundant with people celebrating this patriotic day. However, this year there was a disheartening spirit around the country as people were advised to remain in their homes, and to self-isolate amid fears of the recent outbreak of Covid-19. These extraordinary circumstances saw local towns and cities of Ireland deserted, during […]
OCR/Data Extraction – lockbox and remittance automation

The Payments Landscape In North America, the value and volume of ACH payments have increased year on year over the last five years. In 2019, ACH volumes increased by 7.7% to 24.7 billion items, and ACH values increased by 8.9% to $55.8 trillion from the 2018 figures. The volume of business-to-business (B2B) ACH payments were up by 12% at 4 billion items. ACH is rapidly moving towards the most used form of payment in North America. Checks still continue to be the most popular form of payment for B2B transactions. […]
Covid-19: Update from Cashbook on this global problem

Due to the unexpected outbreak of the novel coronavirus (Covid-19) across Europe and the rest of the world. Cashbook have taken essential measures to protect both our staff and customers from the danger of infection. At the time of writing, over 127,000 people have contracted the virus worldwide and 4,700 of those people have sadly passed away. Cashbook take the risk of Covid-19 extremely seriously, and are closely following guidance from the World Health Organisation (WHO) and the Health Service Executive (HSE) in Ireland. Covid-19 is a situation that requires […]
Cashbook are Gold Sponsors of inPOWER 2020

Cashbook are delighted to once again be Gold sponsors of inPOWER 2020 in St. Louis, Missouri. inPOWER is an Infor specific user group for Infor LX, XA and System 21 users in North America. This conference will be held on 17–19th May at the St. Louis Union Station Hotel. Attendees at this 3-day event can expect to avail of numerous breakout sessions, vendor demonstrations and expert-led roundtable discussions. inPOWER is an exciting event for users to network with peers and learn about new developments over the last 12 months. 2019 […]
Martin Whelan – Rest in Peace

It is with great sadness that we announce the passing of our dear friend and colleague Martin Whelan. Martin was one of the Directors of Cashbook and the Chief Technical Officer for over 20 years. He is one of the main reasons why Cashbook is a successful company today. Martin was a larger than life character with a unique personality. If you ever had the pleasure of meeting Martin then you would long remember him after your encounter. A friendly, fun-loving person with an infectious laugh and such a quick […]
Bank Rec Automation – what you need to know

What is Bank Reconciliation? A bank reconciliation (bank rec) is where a company completes a comparison of the cash balances on their general ledger (GL) against their current bank statement information. Any differences in amounts need to be accounted for, and when the two sides are evenly matched the accounts are said to have been ‘reconciled’. This can be a very demanding process for companies, especially when you allow for the level of data that is required to complete a successful bank rec. Bank Reconciliation Issues There are a lot […]
Customer Portal Automation – Cashbook develop new tool

In the world of finance and accounting things are moving fast. Accounting processes, standards and ways of completing tasks are receiving updates more frequently. Especially in the current ‘innovation era’ and the increased advances in technology. New developments can have a large impact on your business. It may lead to financial staff spending more time on additional manual processes. Your company may need to hire people to complete these new tasks, or employees may leave due to the extra manual processes. Automation of manual financial processes is now a must […]
ISO 20022: Cross-border payments usage guidelines revealed

What is ISO 20022? The ISO 20022 standard has been developed to get everyone in the financial sector using a single common language, consistent terminology and formats. It facilitates electronic data transfers between financial institutions, customers, users, suppliers, infrastructures and regulation authorities. ISO 20022 will transform the cross-border payments, securities, funds, FX trading and credit card sectors. It will also help to massively reduce risk and fraud. In Payments, ISO 20022 is widely considered as the essential component to modernise the global payments infrastructure. The financial world is moving towards […]
Inforum 19 – Our review of the conference

In September, Cashbook descended on New Orleans, Louisiana for the Inforum 19 conference. This event attracts 5,000 attendees from over 60 countries over four days. Inforum is our most significant event of the year and Cashbook have been an Infor partner since 2010. This was our ninth successive Inforum conference, so we are seasoned veterans at this stage. A lot of Cashbook customers are running Infor ERPs such as: BPCS/LX, XA/MAPICS, Lawson S3, Lawson M3, and S21. These ERPs are a great fit for our Cash Application automation solutions, and […]
Cashbook win ‘Credit Management Software Team of the Year’ 2019

Cashbook attended the 2019 Credit Team Awards in Dublin on the 18th October. These awards are organised by Irish Credit Management Training and are sponsored by the Business Post. They recognize the achievements of credit teams in multiple industries with a variety of categories. The Credit Team Awards acknowledge the efforts credit teams make in maintaining cashflows for their company throughout the year. Consistent cashflow is hugely important for every business worldwide. Especially with an impending Brexit and the continuous global trade conflicts. Cashbook were involved in two categories this […]
Cashbook exhibiting at Inforum 2019

Cashbook are going to be exhibiting at Inforum 2019 for the ninth consecutive year. Cashbook have been a product partner of Infor since 2010 and been a mainstay at this flagship event. This year’s Inforum is being held in New Orleans at the Ernest N. Morial Convention Center from 23-26th September. At Inforum 2019, Cashbook will be located at Booth #1723 and we will be doing live product demonstrations of our Cash Application, Bank Reconciliation and Accounts Payable software. Come over to our booth and say hello, and discover how […]
Cashbook secure official Chinese trademarks

In August of this year, Cashbook officially received the great news of our successful application for trademarking our Cash Automation software for use in China. These trademarks are to safeguard our specific Cash Automation software products and information, and also to prevent copying or direct imitation by others in China. Importance of a trademark in China. It is hugely important to have a registered trademark for your products in China when you are looking to expand your customer base further in the market. In China, it is very easy for […]
What are ‘Ghost Cards’ and how are they used?

Ghost cards are a name given to a specific kind of bank credit card or purchasing method. They are not a real plastic card like the ones we are acquainted with. Hence the name ‘ghost’, it is precisely a credit card number that is specific to each department within a company. Employees in a specific department can make purchases using this one number. All transactions are then charged to a high-limit charge account. It means that multiple people in each department can make purchases using the same number. Below we […]
Cashbook Rising 2019 – Review of the event

On August 22nd Cashbook Rising 2019 took place in Cincinnati, Ohio. This was our 3rd annual user conference in North America. It was hosted at the offices of our long-standing customer, Formica Limited. Formica have beautiful and spacious offices which are located just north of Cincinnati. They have been a customer of Cashbook for over 15 years now, and use our cash automation software all over the world. Cashbook Rising attendees came from as far as Canada, California, and Columbus, Ohio! We had a full action-packed day of learning, sharing […]
Cashbook experiences huge 35% growth in the first half of 2019

Cashbook who are headquartered in Limerick, Ireland provide cash automation software solutions to clients all over the world. We also have offices in both Amsterdam and Chicago, and have customers from San Francisco to Shanghai and everywhere in between. Cashbook software helps organisations to achieve spectacular levels of automation in accounts receivable, accounts payable and bank reconciliation functions. Cashbook uses a unique blend of artificial intelligence, machine learning and robotic process automation to automate complex financial procedures. The first half of 2019 saw Cashbook record a huge 35% growth in […]
Use of QR codes in Cash Automation

What is a QR code? The use of QR codes in Cash Automation is an interesting development. A QR code is a type of matrix barcode. QR codes can store information in both horizontal and vertical directions. This allows them to potentially hold a huge amount of information. QR codes were previously used in advertising, upon scanning a QR code on an advert, it would bring you directly through to the company website or specific products and offers. QR codes are the information portal of choice for Moyee Coffee, who […]
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