Progentic AI
CASE STUDIES / FINANCE & FINTECH

Automating cash application for a global finance and accounting team

GLOBAL FINANCE AND ACCOUNTING TEAM

By Charles, Co-Founder & CTO ·

AT A GLANCE
Function Finance and accounting
Automatic match rate From under 20% to 63%
Cash application time Reduced by more than a day
Time saved 50 of the 60 hours spent on the process each day, about 13,000 hours a year
Reach More than 175 people across the business
Status Live regionally, with global rollout planned for Q1 2027

The challenge

Each day, one person downloaded payment files from several banks along with the open receivables report, then searched by hand for matches. The marked-up file went to a core team of 5 to 15 people, who looked for further matches. Fewer than 20% of payments were matched with confidence, and those were keyed into the ERP by hand.

Everything else went out by email. For every unmatched item, often hundreds a day, the team made a PDF of the details, attached them all to an email with the spreadsheet, and sent it to more than 175 people. Someone then watched the replies and copied each answer into a master spreadsheet so the core team could key it into the ERP.

THE DAILY PROCESS, BEFORE
01 Download bank files and receivables report
02 Match payments by hand
03 Core team searches for more matches
04 Email PDFs to 175+ people
05 Copy replies into a master spreadsheet
06 Key everything into the ERP

The process used more than 60 hours of staff time every day, or over 15,600 hours a year. It also sent large amounts of payment data around by email. Slow cash application held up revenue recognition and incentive payouts to employees, and left reporting out of date.

What we built

Staff still download the bank files, but they now drop them in a shared location where an automation picks them up. The automation combines rules-based matching, machine learning, and AI to match 63% of payments, which then go to the core team for processing.

For unmatched items, the automation creates the PDFs the business relies on and stores them on an internal SharePoint site. It then sends the 175 recipients a single spreadsheet with the original payment details, suggested matches and confidence levels, and a link from each row to its PDF. One link lets each person claim their items.

THE DAILY PROCESS, NOW
01 Drop bank files in a shared location
02 Automation matches 63% of payments
03 One spreadsheet with suggested matches goes to recipients
04 Core team tracks every item in Power BI

The core team no longer sends emails, reads replies, or updates the master spreadsheet. They track every item from a single Power BI dashboard.

The results

Payments matched automatically
Under 20% 63%
Staff time on the process, per day
60+ hrs 50 hrs saved
Time returned to the business
15,600+ hrs a year ~13,000 hrs a year

The share of payments matched automatically rose from under 20% to 63%, and cash is now applied more than a day sooner. That speeds up incentive payouts to employees and gives the business more accurate reporting.

The core team’s daily workload dropped by 50 hours, about 13,000 hours a year of time returned to the business. Payment details now sit on an internal site with links to them, in place of hundreds of email attachments.

STATUS

The system is live in one region today, with global rollout planned for Q1 2027.

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