One Day Back, Every Week: Treasury Automation at Reiter Affiliated Companies

Challenges

Before Trovata, treasury at RAC was constrained by manual workflows, inconsistent visibility, and growing demands from internal stakeholders. With just three people managing cash and debt globally, the team needed a better way to access, consolidate, and share bank data without losing valuable time or accuracy.

Manual, Time-Consuming Processes
Managing a multitude of accounts across numerous banks globally, required significant manual effort with the team spending an entire day each week logging into portals and downloading balances and transactions into spreadsheets. This time-consuming work was necessary to support departments like tax, AP, and accounting, but it delivered no value beyond data collection.

Errors and Inefficiencies in Reporting
Despite treasury’s focus on delivering accurate and controlled reporting, manual processes inevitably led to inconsistencies, making it harder to meet the business’ growing need for precision and control.

Dependence From Other Departments
Multiple departments relied on treasury to provide daily bank data, creating bottlenecks and slowing workflows. With such a lean team, treasury could not keep up with growing internal demand while also focusing on higher-value activities like forecasting and analysis.

Limited Bank Visibility into Other Countries
Accessing bank data in other countries was often particularly painful. Token-based logins, language barriers, and inconsistent access made even routine reporting slow and stressful. Treasury lacked clear, reliable visibility into some of the most critical regions for the business.

Solutions

RAC turned to Trovata to centralize its banking data, automate reporting, and free up treasury’s time for more strategic work. By deploying Trovata’s core features and building new integrations, the company has been able to reduce manual effort, improve accuracy, and create a streamlined foundation for automation at scale.

One Platform, Global Visibility
Trovata provided a single platform to consolidate balances and transactions across all banks and entities. Instead of logging into portals, treasury could now access everything instantly in one place, including historically challenging regions.

Workbooks for Faster Reporting
The treasury team used Trovata’s workbooks feature to consolidate cash positions across accounts. Reports that once required multiple downloads and spreadsheets could now be produced in minutes, enabling weekly funding and faster insights for the CFO and VP of Finance.

Improved Accuracy with Automated Data
By replacing manual Excel handling with Trovata’s automated data feeds, errors such as duplicated transactions were eliminated. Treasury could rely on accurate, consistent data and share it with confidence across the business.

Rejina recalled comparing her manual weekly report to Trovata’s output and discovering she had missed a few items in the manual version. “Trovata was super fast and way more accurate,” she said, reinforcing her confidence in shifting critical reporting into the platform.

Self-Service Access for Departments
With Trovata, RAC’s tax teams can access accurate daily cash reporting to calculate fees. The Growers department can validate payments and balances and accounting books journal entries.  Teams beyond treasury can now access the data they need directly, reducing bottlenecks and empowering users to build their own views and reports. This freed up Rejina and her team to focus on higher-value work.

Strong Implementation Support
US bank connections were straightforward, while banks outside the US required more effort due to local processes and language barriers. Trovata’s client success team supported RAC throughout, ensuring a smooth rollout with responsive service, hands-on training, and effective troubleshooting.

Results

Since adopting Trovata, RAC has achieved measurable improvements across efficiency, accuracy, and cost savings:

Beyond these headline metrics, the wider finance organization benefits from consistent data, faster access to information, and empowered teams able to create their own reports without waiting on treasury.

Scaling with Confidence

RAC’s experience is a perfect example of how Trovata can be implemented in phases, allowing treasury teams to start with the essentials and expand as their confidence grows. The first step was data aggregation, connecting multiple banks into one platform and eliminating manual downloads. From there, RAC began using workbooks and analysis modules to improve reporting speed and accuracy.

The next step is forecasting. While Excel remains in use today, the goal is to move this process into Trovata to gain the benefit of automated, real-time projections. This phased approach makes it possible to layer on advanced functionality without overwhelming the team or disrupting existing workflows.

Longer term, RAC plans to deepen integration by connecting Trovata with systems such as the enterprise accounting system for reconciliations, and eventually linking into other enterprise tools. By approaching adoption in stages, the treasury team can steadily increase automation and accuracy while keeping control of the pace of change.

Do More With a Lean Treasury Team

Manual processes don’t have to define your treasury operations. Explore how Trovata makes automation accessible.