Control your cash flow with Rimilia
Rimilia provides a complete accounts receivable platform using intelligent machine learning to enable control and efficiency, seamlessly integrating into your ERP
With Rimilia, you can automate repetitive processes, reduce manual effort and significantly improve your matching rates and clear down times – delivering ROI within 12 months.
With Rimilia, you can use customer behaviour and attributes to create a new way of managing risk and collections, turning data into dynamic customer strategies.
With Rimilia, you can easily process all types of transactions. It provides unrivalled industry match rates and deals with any exceptions quickly and efficiently.
With Rimilia, you can start forecasting and predicting payment behaviour from day one – allowing you to chase the right customer at the right time every time.
Multi-currency cash allocation
Cash allocation should be a simple process.
The issues revolve around a lack of information from multiple sources – poor bank reference, lack of remittance information and multiple payments types (BACs, faster payments, cheques, credit cards and cash).
Limited capability in the sales ledger means that matching this information in a traditional and manually intensive way is hindering businesses.
Rimilia’s intelligent finance solution for cash allocation delivers out-of-the-box functionality that offers unrivalled match rates with any ERP, bank or payment type.
There are many types of automation solutions, but only Rimilia can offer a 93% average automatch rate. Our system allows the clear down of all incoming payments to invoice level with ease. Month end then becomes another day – a day made simpler by implementing machine learning to get ahead of the curve in the daily cash matching process.
- Easy to set up – with full support from our in-house team
- Works with any ERP system for seamless integration
- Allows action-taking decisions to be made quickly
- Real-time data at your fingertips
- Increases team efficiency and allows better flexibility
- Will show ROI in less than twelve months.
Credit management and credit collection
Talk to a credit manager about what they find the most painful aspect of their job and they will tell you it’s the lack of real-time data in the cash collection process.
Having information at their fingertips is almost taken for granted by our customers, when using Rimilia’s collection and credit management tools.
We can help predict and forecast customer payment behaviour. When coupled with our machine learning and automation tools, that can match remittances and invoices before they even hit the bank, you get a clear, up-to-the-minute snapshot of your cash flow.
Put simply our system allows your collections team to focus on creating value and only chasing the customers that need chasing.
Spreadsheets, ledgers and highlighter pens are still in use in many accounts departments in enterprise organisations. This has worked well for many years, but the digital transformation of businesses, is driving the need for real-time access to information and the ability to zoom in and out – giving micro and macro views of each part of the receivables process.
Our system is like no other – It’s dynamic Artificial Intelligence (AI) engine will quickly predict patterns in your customer’s payments behaviour. This means that we can project ahead before issues occur. The system will keep learning and updating its algorithms as payments are made – giving your team an ongoing and dynamic view of their cash flow.
- Up to 96% match rate including multi-currency
- Unrivalled match rates - 95% cash allocation by 9am every day
- Average 70% reduction in manual activity
- Full audit and control
- Benchmarked by Hackett Group as Best in Class
- Interactive and intuitive to use
Anyone involved in bank reconciliation will understand that it is a repetitive and laborious task. The inherent issue is that when using spreadsheets to do this process, finance teams are faced with an uncontrolled environment – and nobody wants that.
The key words we like to use in bank reconciliation when talking to our customers are efficiency, error-free and auditable.
Rimilia’s intelligent finance solution for reconciliation provides an unrivalled automatch rate of 98%.
Our Artificial Intelligence (AI) engine powers the matching of millions of transactions in real-time. Removing manual tasks from the process, not only speeds up the time it takes to clear the bank, but does so with zero errors. This allows finance teams to reallocate resource into more value-added tasks.
When it comes to audit, our built-in tools allow our customers to create a full digital audit trail and sign off process.
There is no other way to do bank reconciliation – and there’s not a marker pen in sight.
- Self-learning engine enabling to automatically match bank to general ledger up to 98% within minutes, every day
- Multiple bank files and formats loaded in seconds
- Full digital audit trail and sign off process
- Imports and aggregates multiple diverse data sets
- Advanced dashboard and real-time reporting
Dynamic analytics and artificial intelligence (AI)
Cash flow is the lifeblood of every business and accurately forecasting the cash that will flow into a business on a daily, weekly or monthly basis is crucial to ensure there are sufficient funds available to meet the organisations financial commitments. Rimilia’s intelligent finance platform allows organisations to see ahead by predicting customer behaviour.
This ability to forecast and predict payments and collections behaviour is the cornerstone of our system; delivering credit managers and their teams real-time visibility of their cash position.
Rimilia’s intelligent finance platform allows organisations to fully integrate cash, credit and reconciliation solutions underpinned by dynamic predictive analytics operating in real time, enabling them to control and accurately forecast their cash flow.
This ability to forecast and predict payments and collections behaviour is the cornerstone of our system; delivering finance professionals and their teams real-time visibility of their cash position and the ability to chase the right customers.
AI runs across all of our solutions from Cash Allocation, Bank Reconciliation, Collection and Credit Management, allowing the prediction of customer behaviour and a visibility of real-time data and analytics. In a digital world – these provide the cornerstone of efficiency and accuracy.
- Ability to predict customer payment behaviour and timings
- Take account of user intelligence – e.g. promise to pay
- Real time cash position and forecasting
- Eliminates unallocated cash
Evidence of our ROI
Award winning financial software technology company Rimilia have been working in partnership with renowned recruitment provider Adecco to improve efficiency of cash allocation processes with great success.
Biffa, one of the leading nationwide integrated waste management service providers for local authorities, industrial and commercial clients in the UK have increased cash allocation process efficiency after implementing Rimilia's award winning automation software Alloc8.
Premier UK cash management specialist Loomis increase accounts receivable efficiency using Rimilia's award winning cash allocation software.
Rimilia worked with the cash team at Synseal at their head office in Mansfield to implement Alloc8 to automate their cheque, BACS receipt cash matching process and subsequent banking. Prior to this implementation, cash processing was a resource intensive task for the team that required higher levels of manual intervention for cash allocation over collections.
TalkTalk Business, the UK’s leading value for money provider of voice and data solutions to Britain’s businesses, has improved efficiency in their cash processing by implementing Rimilia’s award winning cash allocation solution, Alloc8.
Don’t expect the achievements of the finance revolution to be limited to those of the last, AI has the potential to transform finance functions even more drastically.
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