Success Story
Allan Myers
Allan Myers replaced manual cash positioning with an automated workflow that strengthened daily visibility, streamlined reporting and reduced operational risk.
cash management banks
operational accounts
checks processed per month
About
Allan Myers is a Pennsylvania-based construction company serving the Mid-Atlantic region, delivering roads, bridges, treatment plants, residential and commercial developments and pipelines. The company’s treasury team supports cash management across multiple banks and accounts while managing construction-specific cash cycles.
Solutions leveraged:
Challenges
Allan Myers’ treasury operation faced growing operational stress as workload increased and manual processes could not keep pace. Key challenges included:
- An inefficient cash positioning and reporting approach built on Excel spreadsheets and an Access97 database
- Hours of daily effort required to produce a reliable and timely cash position report
- Reliance on multiple bank portals and security tokens to gather prior-day activity and balances
- Higher risk of manual errors from changing bank descriptions, correcting spreadsheet formulas and keying account balances
- Construction-industry complexity including seasonal billing cycles, retainage, pay-when-paid subcontractor timing and the need to track outstanding checks
Solution
Allan Myers partnered with Ripple Treasury, powered by GTreasury, to replace manual systems and establish an automated daily cash positioning process. The team selected Ripple Treasury for its user-friendly design, competitive pricing, flexible data manipulation and a straightforward implementation experience. These solutions were deployed:
- Liquidity Management: Automated daily cash positioning using two core worksheets, supported drill-down into ACH (automated clearing house) and wire activity and enabled remote reporting without dependency on bank portals.
- Bank Connectivity and Data Warehousing: Centralized historical treasury data in a system database, automated daily bank file downloads and reduced reliance on manual database manipulation for operational and ad-hoc reporting.
- Payments Controls and Security: Enabled approvals across banks from a single workspace, supported processes like positive pay file uploads and enforced user access restrictions to strengthen segregation of duties.
Benefits
Allan Myers improved efficiency, control and reporting quality while reducing manual effort across daily treasury workflows. Key benefits included:
- Faster and more dependable daily cash positioning, produced from two worksheets and accessible remotely
- Stronger cash visibility through flexible reporting across time periods and drill-down detail for transactions
- Reduced operational risk by minimizing manual data entry and spreadsheet maintenance activities
- Centralized oversight that reduced dependence on multiple bank portals, tokens and fragmented processes
- Improved service experience through webinars and a client community that supported adoption and ongoing value
Conclusion
By moving from manual tools to Ripple Treasury, Allan Myers built a more efficient daily cash management process with stronger controls and reporting. The treasury team now operates with a workflow designed to accommodate future change while reducing time-consuming tasks and error exposure.
“Having evaluated several alternatives the team selected the Ripple Treasury solution; chosen as this system was found to be very user-friendly, competitively priced and offering flexible data manipulation facilities. The team also judged that the system was not over-engineered, which meant in practice that the implementation process was straightforward.”