From Chaos to Confidence: How Flare improved its cash reporting to aid better and real-time decision making

Discover how Flare transformed its treasury operations with Nilus. By automating reconciliation across 25+ bank accounts, streamlining cash reporting, and achieving 98% transaction auto-categorization, Flare cut reconciliation time from 50+ hours to under 10 per month, gained real-time cash visibility, and delivered error-free investor reporting.

The Challenges

1. Reconciliation Was a Full-Time Job

Managing 25+ bank accounts and reconciling payments across Salesforce, Stripe, and NetSuite was more than tedious; it was a full-time role. Manual three-way reconciliation meant delays, gaps in cash application, and errors that rippled through month-end close and investor reporting.“It took a couple of weeks to just reconcile cash, given that we were tracking all the movements of cash in different bank accounts.” - Vik Shah.

2. Slow and Error-Prone Reporting That Took Weeks

Before Nilus, pulling together cash flow analysis and cash position was time-consuming and frustrating. With data spread across different systems, the finance team was stuck downloading CSVs, reconciling manually, and cross-checking every line item by hand. Cash flow analysis would shift after the fact. Investor reports had to be updated. And the team was always in “catch-up mode” instead of reporting numbers with confidence.. Manual errors weren’t rare. They were expected. And Shah wanted to do better for stakeholders inside and outside the organization, from leadership to auditors to investors.

3. Too Many Banks, Not Enough Visibility

Without real-time data, strategic decision-making lagged and constraints around investments in the business were delayed. Board reports were revised post-close. Auditors flagged inconsistencies. Internal teams struggled to access cash position data in a timely, reliable way.”Cash is our most important KPI, but we were spending weeks just trying to see where it all was.” - Vik Shah.

Enter Nilus: Treasury Intelligence That Moves at Startup Speed

Flare recognized the need for a smart tool to handle treasury tasks. When they implemented NetSuite, it quickly became clear that ERP alone couldn’t support the growing complexity of reconciliation, cash reporting, and forecasting across 25+ bank accounts.“We realized we needed a system to solve this. Especially as we grow as a company, we want to make sure we can do this in a more automated fashion.” Vik Shah. They began exploring their options, legacy treasury management systems, rules-based automation platforms, and even internal builds. But most solutions were too rigid, too slow to implement, or simply not tailored for Flare’s unique structure of regulatory (IOLTA) trust accounts and multi-entity workflows. Nilus stood out for its flexibility, AI-first approach, and speed to deploy. They decided to start with a 3-month pilot.

Rapid Implementation, Fast ROI

Flare onboarded Nilus in just 3 weeks and ran a 3-month pilot focused on reconciliation. Shah knew that Nilus’s automations would save his team time, but only if he could trust it to get things right. He quickly got the answer. The system hit 90%+ accuracy early on, paving the way for expansion across tagging, cash visibility, and reporting workflows.“Our data has gotten much better, and is much cleaner as well,” Vikrant Shah.

From Manual Tagging to 98% Auto-Categorization

Nilus’s AI tagging engine now categorizes 95–98% of transactions automatically. What once took hours now takes minutes, and anomalies are flagged instantly, not at month-end.“The AI tagging feature was a real turning point for us, and when we started to see how Nilus can scale with us.” - Vik Shah. With automated tagging in place, Flare’s cash flow analysis and reporting dropped dramatically, such that we were able to report each week to the management and also drastically reduced the effort to reconcile cash as part of the month-end close.. Instead of spending the majority of their time trying to reconcile and tag transactions manually, the team is now able to take on strategic projects to drive the business forward.

Accurate Cash Reports, Weekly

Before Nilus, cash reporting was time-intensive and took over a month to accurately complete. Now, Flare runs weekly cash reports, surfacing real-time free cash flow data and high-impact transactions every Monday. This has dramatically improved how the team plans liquidity moves and engages leadership.

Trustworthy Reporting to Key Stakeholders

As Nilus increased the accuracy and speed of the finance team’s reporting process, reporting errors and uncertainty disappeared.“In the last year and a half, we have had no changes in numbers reported to investors. It just gives us more confidence in the numbers we are reporting.” - VikShah.

The ImpactSignificant Reduction in Reconciliation Time: From 50+ hours per month to less than 10 hours per month

Real-Time Cash Visibility: Across 25+ bank accounts and 6 entities Audit-Ready Accuracy: No investor report revisions in the last 12+ months Increased Strategic Focus: FP&A team now spends more time on growth initiatives, not grunt work “The biggest benefit is more timely treasury reporting to aid quick decisions around capital allocations, investments and spend.” - Vik Shah.