"Vesto has transformed our process by providing a single, real-time dashboard that eliminates manual tracking and ensures up-to-date cash visibility across accounts."
About
Tread is a leading enterprise software platform, transforming the construction materials industry by digitizing logistics operations.
Tread serves major construction materials companies across North America, including global enterprises.
The Challenge
With multi-currency operations across the USA and Canada, and multiple banking relationships in each country, Tread lacked a unified view of its cash position and cash flows. Getting a basic view of their cash position required a manual reporting process involving daily log-ins to 14 bank accounts.
"Before Vesto, our cash tracking process involved manually updating spreadsheets and converting currencies, which was time-consuming and prone to errors."
For a tech-forward team, such a slow, manual process was unacceptable. The lack of visibility into their cash position and daily transactions slowed down the team’s decision-making, while also letting excess spend slip through the cracks.
The Solution
As Tread scaled and continued to grow its cash footprint, consolidating its reporting process became a priority for Sameer and his team.
"The ability to consolidate multiple bank accounts and currencies into a single, real-time dashboard made Vesto immediately relevant, solving a key pain point for cash tracking."
Tread partnered up with Vesto to connect all of their banks into one dashboard – giving them a real-time view of their cash position, cash flow, and transactions – replacing the previous process of tracking cash through bank portals and spreadsheets.
Over a single hour-long onboarding call, Tread was able to connect their accounts and hit the ground running immediately.
"The onboarding process was seamless, with clear guidance and quick setup; we were fully operational within a short timeframe."
With Vesto’s real-time FX conversion capabilities, the challenge of multi-currency reconciliation was solved – enabling Tread to unify all their balances into one currency.
The Results
With Vesto, the Tread team was able to eliminate hours of manual work and delays.
Instead of having to log into multiple banking portals daily, importing & exporting .CSV files, and trying to reconcile balances across currencies, the team is able to see everything in one dashboard, speeding up their decision-making, reconciliation, and reporting processes.
"Vesto has transformed our process by providing a single, real-time dashboard that eliminates manual tracking and ensures up-to-date cash visibility across accounts. We’ve gained complete confidence in our cash positioning with instant access to accurate data, saving significant time and improving our financial oversight."
Finding a solution that’s not just easy to use and cost-effective, but can also scale internationally was very important for Tread and a big reason they went with Vesto. Being able to connect to almost all banks in the US, Canada, and internationally, removes a potential bottleneck as Tread continues to scale their operations.
Tread’s team now has the automated cash visibility, and reporting it needs to make decisions and take action more efficiently — saving the team hours of manual effort each week, and allowing them to focus on higher-value projects.
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