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  • Lack of remittance data
  • Poor Reference data
  • Single payment to multiple accounts
  • Discounts, Deductions
  • Alias payee names
  • On Account Payments
  • Month End Volumes
  • Manual Data Entry
  • Cross Company / Cross Ledger Payments
  • Remittance quality and timing

Alloc8 by Rimilia is already in operation across many business sectors in countries across the globe. Details of the sectors we already work in and some of the current challenges that are faced are as follows:

Fast Moving Consumer Goods (FMCG)

The FMCG sector is underpinned by a technology driven efficient supply chain that ensures order to receipt is carried seamlessly and within time critical constraints. Our customers in this sector now enjoy the same level of sophistication in their cash allocation and reconciliation processing activities.
In addition to faster clear down, the control benefits associated with accurately processing deductions/short pays relating to amongst other things:

Damages/short orders
Early settlement discounts
Sales promotions/marketing rebates
Waste removal
Price differences

With fully automated, multi format e-remittance processing functionality, the whole process has been reduced from days and hours to a matter of minutes.

Asset Based Lending

Striking the balance between maximizing the lending available versus the certainty of the invoices used as security is the key risk in this sector, whether this is via invoice factoring or invoice discounting. Additionally, ensuring payments received from debtors are applied to the correct client accounts is paramount.
Our customers in this sector can concentrate on growing their client base and lending the maximum amount available all of the time with payment receipts that can only be applied to the correct client account processed within an hour of arrival in the bank.

IT Services

The mixture of services and clients invoiced gives rise to payments in advance, to terms or deferred where acceptance criteria is required to be met. In the absence of a detailed remittance advice this can divert the collections team away from collection activities and into multi account and multi division reconciliation activity instead.
Our customers in this sector are able to process complex and diverse remittance advices automatically and our unique recycled payment functionality enables payments in advance to be posted to the customer account on the sales ledger but retain the value in Alloc8 for subsequent auto-matching when the invoice is created.

Environmental Services

In the competitive world of contract services, the difference between making a profit and customer retention can all too often be determined by the quality and efficiency of the administrative processes.
Our customers in this sector can focus their efforts on delivery of the core service as they are confident in their back office processes as a result of fast and accurate allocation of cash and cheques to their sales ledger. This also results in fast query resolution, elimination of unallocated cash and collections staff focused on real debtors, not those who have already paid.

Trade Counters

Trade counter operations thrive on being able to supply customers with what they need, when they need it. This supply process can become frustrated as a result of delays in payment processing to customer accounts causing credit limits to be breached and accounts put on stop potentially driving your customers to competitors.
Our customers are able to maximize their customers’ buying power by allocating all of the payments received within day. Our Alloc8 solution also enables cash received over the counter in branch to be recorded and allocated to the customer account within the day.

Business Services

In the competitive world of B2B / B2C services, the difference between making a profit and customer retention can all too often be determined by the quality and efficiency of the administrative processes.
Our customers in this sector can focus their efforts on delivery of the core service as they are confident in their back office processes as a result of fast and accurate allocation of cash and cheques to their sales ledger. This also results in fast query resolution, elimination of unallocated cash and collections staff focused on real debtors, not those who have already paid.

Health and Insurance

Personal nature of account – patient, residents, multiple sources of payment – local authority, insurer, patient, family etc. Complex remittances that do not match the value invoiced, VAT treatments.
Construction
The construction industry finds itself at the forefront of managing risk and also complying with anti-money laundering legislation, therefore having payment receipts applied fast and accurately is crucial to a smooth operation.
The nature of the customers results in many part payments, payments on account, disputes relating to delivery due to timing issues between supplier and customer systems and more often than not goods supplied cannot be returned due to the nature of them.
All of this results in a lack of remittance data and payments being made from a multitude of sources from the same customer – e.g. BACS, cheque, card and a mixture of business and personal account, all giving rise to large values of unallocated cash.

Hire and Leasing Service

The time driven nature of charges in this sector can result in queries and credits which drives differences between the value invoiced and the amount received. Without remittance advices, this can give rise to large values of unallocated cash, and chasing customers who have already paid.
Our customers in this sector achieve high levels of automated matching of receipts to invoices eliminating unallocated cash and enabling the collections team to focus on unpaid invoices rather than reconciling accounts with customers.

Media and Advertising

The diversity of this sector gives rise to a mixture of regular repeat customers and intermittent or one-off accounts. In addition, the multiple payment nature of a single invoice for things such as events where deposits and the final balances are paid separately.
The speed and accuracy of processing customer payments enables the event confirmation to be processed seamlessly which is the start of the overall customer experience. Our customers in this sector enjoy fast and accurate processing of payment receipts matched to invoices and eliminates customer queries.

Contract Services

In the competitive world of contract services, the difference between making a profit and customer retention can all too often be determined by the quality and efficiency of the administrative processes.
Our customers in this sector can focus their efforts on delivery of the core service as they are confident in their back office processes as a result of fast and accurate allocation of cash and cheques to their sales ledger. This also results in fast query resolution, elimination of unallocated cash and collections staff focused on real debtors, not those who have already paid.

Logistics and Distribution

In the competitive world of logistics and distribution services, the difference between making a profit and customer retention can all too often be determined by the quality and efficiency of the administrative processes.
Our customers in this sector can focus their efforts on delivery of the core service as they are confident in their back office processes as a result of fast and accurate allocation of cash and cheques to their sales ledger. This also results in fast query resolution, elimination of unallocated cash and collections staff focused on real debtors, not those who have already paid.

Global Shared Service Centre

Create a single world class process wherever you are in the world, with real time visibility and standard delivery whaetevr the country, ERP or banking format. All providing for a global world class performance and improving customer relations whilst reducing costs.

SOLUTIONS DELIVERED OUT OF THE BOX IN 6 WEEKS, ANY ERP, ANY BANK, ANY INDUSTRY, ANY COUNTRY.

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Any receipt type and bank format

  • BACS/Faster payment
  • Lockbox, ACH, Wire
  • Cheques/Checks
  • Cash over the counter
  • Credit/debit cards
  • Bills of exchange
  • MT940
  • BAI
  • Swift
  • All other formats

Over 150 out of the box automatch rules covering the following and many more:

  • 1:1
  • 1: Many
  • Many: 1
  • Full account
  • Short pay/over pay
  • Small differences
  • deductions/discounts
  • including debits/credits
  • marketing rebates
  • cross division/cross company/inter company
  • cross ERP
  • multi currency/bank charges

Plus many additional unique features

Autofinder ™

Fast 1 click exception handling

Remittance management

Unique intelligence remittance handling for paper, electronic and excel remittances

Full reporting suite

Comprehensive, dynamic dashboards

Full electronic image repository

All supporting documents i.e. cheque images and remittance images maintained for 7 years or more.

Self-Learning Built In

Intelligent engine learns as it goes enusring ongoing increase in performance and benefits.

Full audit and control compatibility

Track and search every receipt, image and all associated transactions.

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“Alloc8 is amazing! We have managed to achieve more in one day at our busiest time of year than we would have previously been able to complete in 3 or 4 days, and the best of it is, it’s true too!”

Alison Maconachie, Sales Ledger Manager, Yorkshire Purchasing Organisation.