Leading financial solution providers Ultimate Finance increase efficiency using Alloc8 cash allocation software
Ultimate Finance, one of the largest UK independent financial solution companies are the latest to benefit from using Rimilia financial technology.
The main business drivers for Ultimate Finance, were to:
- - make the end to end cash allocation process more cost effective
- - establish enhanced process streamlining
- - achieve full auditability
Before implementation of Alloc8 software, cash allocation was resource intensive and stressful for staff needing to get cash allocated by tight deadlines.
Reliance was on paper which made the audit process more difficult and as a result, meant a lack of real time visibility across the business.
Since going live with Alloc8 software, the team at Ultimate Finance are now able to adopt a more efficient approach to cash allocation. Cash is allocated well within deadlines with 80% plus of payments being automated or system guided.
Alloc8 has provided greater visibility across the business as to what payments have landed and which ones are being allocated to the all-important clients and debtors.
A further result of this increased has seen resource levels reviewed within the team and redeployed.
Staff now see the full benefit that Alloc8 has brought to the company as a whole and have happily adopted the new working practices as part of their everyday role.
John Stewart, Group IT Director for Ultimate Finance commented;
"We were looking to automate our payment allocation process in order to improve data quality. Significantly speed up cash allocation and make the whole process more efficient in terms of resource usage. Rimilia's Alloc8 product has done just that.
From initial engagement through to project delivery and sign-off, Rimilia have been excellent.
Using their knowledge, experience and good project management to guide our teams through the project life cycle to ensure not just good delivery of the system but also buy-in across the organisation from all stakeholders".
Rimilia Project Manager Matt Hill said;
"The Ultimate Finance project brings another important asset based lender into the Alloc8 portfolio.
The project was well run from both parties, with clear objectives and requirements identified which were delivered on time.
The team at Ultimate Finance have been open to proposed process changes and are now seeing the impact that their dedication, adaptability, and acceptance of change has driven.
We look forward to building on the solid foundations now in place, to assist Ultimate Finance to get the most out of the Alloc8 software solution".
If you’re interested in finding out more about Rimilia automation solutions, why not Request a Demo. We’ll show you round the software and give you some ideas of how you could benefit with lower costs, more efficient resources and world-class performance.