PIP forecasts global cash generation and tracks daily cash flow with CashAnalytics

The magic of CashAnalytics is its simplicity. It is easy to set up, it is easy to use and it is easy to consume information.


Director of Cash Management, PIP

Protective Industrial Products (PIP) is a leading supplier of hand protection and personal protective equipment to wholesalers and distributors worldwide. Founded in 1984 and headquartered in Albany, New York, PIP has grown organically and through acquisition to over $1 billion in annual revenue with locations throughout North and South America, Europe and Asia.

What jobs does CashAnalytics do for PIP?

CashAnalytics automates a number of formerly manual and time consuming daily and weekly cash reporting and forecasting tasks in PIP, giving Percy Cubillo and his team a reliable source of group wide cash flow information.

1. 13-week Cash Flow Forecasting

PIP operate an extensive cash flow forecast model which is all managed through CashAnalytics. The model covers 25 business units who forecast in 11 different currencies.
The model is connected to PIP’s ERP system to automate AP an AR forecasting while also taking direct input from users and controllers across the group. The actualization of the model weekly also happens automatically (more below).

2. Daily Cash Reporting

PIP’s bank partners are connected to CashAnalytics which automates the collection of bank balances and transactions for bank accounts across the group. This gives PIP clear daily visibility consolidated and individual cash balances.

3. Cash Flow Actualization

One of the major time savers for Percy every day and week is the automated actualization of the forecast model on a weekly basis using bank transactions that flow in from the banks combined with mapping rules in the system.

Commenting on this Percy said, “We link our banking partners directly to cash analytics and populate weekly actual transactions automatically, thus shortening the amount of time it takes to actualize the model and tie it back to the statements.”

Key Features of CashAnalytics used by PIP

Daily bank reporting connectivity

Automated actual cash flow classification

Multi-business-unit cash flow forecasting

Variance and Consolidation reports

Intercompany tracking

ERP connectivity for AP & AR forecasting

What business activities does CashAnalytics support in PIP?

Percy and his team in PIP use CashAnalytics to support a number of high value cash and liquidity management activities. These high value business activities include:

Daily Cash Monitoring

With bank data flowing into CashAnalytics daily, Percy can see yesterday’s cash, across the group, first thing in the morning.

Business Unit Funding

As a global business with operations in multiple locations, a key role of the cash management team is to ensure each business unit is adequately funded. The forecast generated by CashAnalytics gives a clear view of the forecast cash generation and liquidity needs of each business unit, playing a key role in this activity.

Management Reporting

Senior stakeholders in PIP monitor current and future cash flow very closely. The cash reporting from CashAnalytics output informs short term funding and cash management decisions while also supporting longer term strategic planning.

Key benefits of CashAnalytics

  • Significant reduction in time spent on manual cash reporting tasks
  • Clear and reliable previous day and 13 week cash visibility
  • Efficient business unit funding to ensure cash is always put to best possible use

Would you recommend CashAnalytics?

I’d say the magic of Cash Analytics lies in its simplicity. It is easy to set up, it is easy to use and it is easy to consume information. Banking transaction business rules help actualizing cash a cinch and the new forecasting tools make projection known periodic transaction easy. The SmartLedger provides a details outlook on how the AR will develop and provides insight into customer payment behavior.

Percy Cubillo Director of Cash Management
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