Success Story
PIP
PIP consolidated daily cash reporting and 13-week forecasting across 25 operating units, giving leadership reliable visibility for funding decisions and planning.
operating business units supported
currencies included in the 13-week forecast model
workforce
About
Protective Industrial Products (PIP) supplies 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. The company operates across North and South America, Europe and Asia.
Solutions leveraged:
Challenges
PIP needed consistent, group-wide cash visibility and forecast discipline across a complex operating model. The team faced several practical hurdles that slowed decision-making and increased manual effort.
- Forecasting across 25 business units in 11 currencies required repeatable inputs, consistent consolidation and clear variance views
- Daily cash reporting depended on collecting balances and transactions from multiple banking partners across the group
- Weekly forecast actualization and tie-out to bank statements took time, especially when teams relied on manual classification and mapping
Solution
PIP partnered with Ripple Treasury to centralize cash reporting, forecasting and weekly actualization across the group. The team connected banking partners and integrated its ERP system to automate accounts payable (AP) and accounts receivable (AR) forecasting inputs. These solutions were deployed:
- Cash Flow Forecasting: Built and managed a 13-week cash flow model covering 25 business units in 11 currencies, with inputs from users and controllers across the group.
- Daily Cash Reporting: Connected bank partners to automate the collection of balances and transactions, supporting consolidated and entity-level visibility each day.
- Cash Flow Actualization: Automated weekly actualization using bank transactions combined with mapping rules, reducing time to update the model and reconcile to statements.
Benefits
Ripple Treasury reduced manual effort while improving the reliability and cadence of cash visibility and reporting for stakeholders. The PIP treasury team:
- Reduced time spent on manual daily and weekly cash reporting tasks
- Delivered clear and reliable previous-day visibility plus 13-week cash visibility
- Supported efficient business unit funding so cash stayed aligned to operational needs
- Strengthened management reporting with consistent cash and liquidity outputs for short-term decisions and longer-term planning
Conclusion
By standardizing forecasting, automating daily bank data collection and streamlining weekly actualization, PIP built a dependable operating rhythm for cash visibility. The finance team now starts each day with consolidated insights and leaders get the information they need to fund business units and plan with confidence.
“I’d say the magic of Ripple Treasury 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.”