How I decided to be part of the pink revolution in Order to Cash
July 06, 2018
As a natural innovator who is passionate about new technology and digital transformation, I recently joined Rimilia as Business Development Director.
My career started in Credit Management in a variety of industries such as Chemicals, Electronics and Confectionary, before moving into a business support role for a major Global Media and Entertainment Studio. In that role, I was responsible for delivering transformational change within the Order to Cash business process function.
Having worked with several Finance & Accounting Shared Service Centres, I observed that finance teams typically struggled with:
- time it takes to allocate cash
- lack of centralised process and control
- an inconsistent approach to Credit, Collections and Accounts Receivable resulting in poor performance and low customer satisfaction
I’ve always enjoyed designing and implementing best practice Order to Cash processes – including Credit and Collections techniques to generate a step change in finance operational performance. Challenges like those mentioned above always created a great opportunity for me to explore and try new finance technology. Whilst working for the Media and Entertainment Studio, I started to look at bespoke developments using their ERP systems. However, these types of stale improvements proved to be short-term solutions that quickly stopped fulfilling our needs; they weren’t flexible enough, were costly and didn’t really boost our competitiveness. I needed a solution that would be out of the box, intelligent and future-proof.
And this is how my journey with Rimilia began!
Having looked at various vendors offering some old legacy systems that were limited to single ERP integrations, with no self-learning engine and OCR capability – Rimilia was the obvious choice. I implemented Rimilia’s AI-driven solution for cash allocation for the Media and Entertainment Studio, which resulted in the immediate results including:
- fully automated Company’s EMEA Cash Application function in 3 front of house systems (including 2 different SAP Systems)
- over 50M keystrokes eliminated
- centralised cash allocation
- headcount reduced from 12 to 4 across 4 business segments.
In addition, the innovative solution from Rimilia provided soft benefits like alignment in process and procedures, significant cost savings and operational agility with future acquisitions and mergers. This incredible personal and professional achievement, along with a great affection for Rimilia with its exceptional ethos and software, drove my decision for a big career move.
Innovative finance departments are already starting to reap benefits by digitally transforming their finance processes using new technology. AI and RPA solutions are beneficial not only for the finance function but also for individual finance professionals. I’ve seen finance leaders becoming heroes within their organisations for recognising the benefits that Rimilia’s AI finance solutions can bring to their businesses.
I became one of them and now, I’m driving the next pink revolution in Order to Cash, and Finance and Accounting, proudly helping Credit Professionals to become heroes within their organisations.
To connect with Paulette or learn more about her experience visit Paulette’s LinkedIn profile.