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What’s your cash position?
Improve visibility with Lockbox
integration to NetSuite
December 11th, 2014
Presented by Carl Pezold
Demonstration by Jim Leney
Customer Success Story by Aaron Kleinhandler
of Spectrio LLC
Agenda
• Business problem: Daily Cash Position and Banking
Integration
• Celigo at a glance, Lockbox Connector for NetSuite
• Demonstration
• Customer Success Story: Spectrio
• Question and Answer Session
The Role of Finance – Business Partner
• Provide visibility to the
financial health of the
business
• Reduce redundancies,
streamline processes
• Implement systems for
scalability
‘The Changing Role of the Financial Controller’, Ernst &
Young
Daily Cash Position
• Daily Cash Report
- Opening Balance
- Cash Inflow
- Cash Disbursement
• Prepare for creditor claims
• Avoid expensive borrowing,
Lines of Credit
• Avoid risky strategies for
compensating for lack of
visibility: check floating, etc.
About Celigo
• Founded 2005
• Headquarters in Redwood Shores, CA
• Headcount of 95 and growing rapidly
• Many experienced NetSuite employees & users
• 950+ Customers
Experience with banks
• Silicon Valley Bank
• US Bank
• Wells Fargo
• Bank of America
• Fifth Third
• Union Bank
• BB&T
Automate the posting of payments in NetSuite
NetSuite
NetSuite
Invoice #2
NetSuite
Invoice #2
NetSuite
Invoice #1
Bank
Lockbox File(s)
(CSV/Excel, BAI,
NACHA)
NetSuite
Payment
Customer A
Celigo
Lockbox
Checks, ACH,
Wire
Celigo Lockbox: Work Flow
• Creates a Lockbox Batch Summary record
• For each Lockbox Payment record, creates a Lockbox
Transaction record; where the status will be as follows:
• Applied
• Partially Applied
• Unapplied
• Unidentified
• Creates a Customer Payment record
• Creates a Customer Deposit record if the Customer is
unidentified (default) OR
• Creates an Unapplied Payment
• Updates the Lockbox Summary record with overall status
Customer Testimonial
Aaron Kleinhandler, CEO
Spectrio LLC
“We can double in size right
now, and we wouldn’t need
to add anything to our
accounting office.”
• Full-service audio-visual marketing company
• Based in Oldsmar, Florida, USA
• “Be heard. Be seen. Be inspired.”
1986 Conquest Communications Founded
1990 Impression On Hold (IOH)
Founded
2003 Conquest acquires Magic On
Hold; becomes Audio Messaging
Solutions LLC
2011 AMS acquires IOH; becomes Spectrio LLC
Spectrio: Challenges
• Too much manual work
associated with processing
payments
• Skilled full time employee,
under utilized
• Opportunity for errors
• Delays in visibility to cash
position
• 2700 checks per month
• 100k data points
Spectrio: Benefits
• Able to repurpose one full
time employee, allowing her
to focus on high value work
• Daily cash position verified
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