How Lemonade and Gibson Brands Transformed Treasury with Automated Transaction Tagging

For years, treasury teams have relied on Excel to track, categorize, and forecast cash flow. But as businesses scale, so does the complexity of managing financial data. Manually tagging transactions across multiple banking relationships, currencies, and regions is not just tedious—it’s a bottleneck that slows down decision-making and introduces avoidable errors.

In our recent webinar, “Tag, Track, Triumph: Treasurers Share How to Master Your Bank Data,” treasury managers at Lemonade and Gibson Brands shared their journeys firsthand.

Before adopting Trovata, both companies relied on spreadsheets that required daily maintenance to keep financial data organized. Now, with automated transaction tagging, they’ve reclaimed hours of manual work, improved cash visibility, and built a more agile, data-driven treasury operation.

Here’s how they made the leap from spreadsheet chaos to seamless automation.

Excel’s Breaking Point: When Manual Tagging No Longer Scales

Treasury teams often start with Excel-based processes for categorizing transactions. But as transaction volumes grow and reporting needs become more granular, this approach quickly becomes unsustainable.

At Gibson Brands, Treasury Manager Christina Jewel juggled transaction data from 34 bank accounts across 10 countries and in six different currencies—all manually sorted and categorized in spreadsheets:

"We had an abundance of Excel spreadsheets for both domestic and global activities that were manually updated daily. We have multiple banking relationships and had multiple banking platforms to go to daily to download transactional details. I would then manually sort and categorize the transactions and then link these transactions to our Excel reports for balancing. We then used those reports for global forecasting. This was time-consuming and error-prone, so we were thrilled to see Trovata come along."

For Rob DiTondo, Senior Treasury Manager at Lemonade, the issue wasn’t just manual effort—it was missing crucial insights:

"We were only looking at cash on a ledger balance basis. That meant we were missing out on cash that was either working for us or not. We needed a way to see the full picture in real-time."

Treasurers need to do more than track cash balances. They need to tell a financial story—why cash is fluctuating, where it's going, and how it impacts decision-making.

Automated Transaction Tagging: The Game-Changer for Treasury

Instead of manually coding transactions, Trovata automates the process, instantly tagging each line item based on various characteristics from account, bank, transaction type, metadata properties, and even historical patterns. This eliminates the need for daily sorting and manual reconciliation.

At Lemonade, Rob structured transaction tagging to mirror the company’s cash flow story:

"We’re an insurance company. We collect premiums and pay claims. I started bucketing transactions into high-level categories—payments, collections, vendor expenses, inter-company transfers. Now, my list gets smaller and smaller, and I can create reports that tell us exactly why cash is increasing or decreasing."