Wesco Aircraft UK improve cash allocation process using Alloc8
Rimila has been working with Wesco Aircraft, a leading provider of supply chain management solutions to the global aerospace industry, to help improve efficiencies in cash allocation through implementation of its award winning automation software, Alloc8.
Project implementation of Alloc8 took place at Wesco’s UK office back in March 2014 and the project has been a huge success since with them achieving unprecedented levels of automatching in their cash allocation. Rimilia worked with the team at all stages of the project to ensure a smooth implementation. Comprehensive training on using Alloc8 was also provided to staff before the go live date.
Currently the combined automatch rate is an impressive 91% with manual processing only accounting for 9% of payments received. These excellent results have been achieved by using less manual resource and the Wesco team are now able to enjoy the many benefits that the software brings and allows the users to concentrate more fully on the credit control and customer relationship, rather than the allocation of payments.
The success of the solution within the UK, has led the Wesco team to recommend the solution to their parent company in Valencia, California. Rimilia are currently working with the American team and their bank to implement the solution, making Alloc8 an integral part of Wesco’s finance processing on both sides of the Atlantic.
Rimilia Project Manager, Matt Hill commented;
“Working with Wesco Aircraft on both projects has been a great experience and the benefits they are receiving is credit to them as a team. Alloc8 has been particularly well received and their confidence in recommending it to their colleagues in the USA, speaks volumes for the success of the solution. Thanks Wesco”.
Wesco Aircraft EU Credit Manager, Carol Pollard stated;
“Wesco operate in a multi-currency industry and initially assumed the Alloc8 software would not meet our high expectations. However, the team at Rimilia discussed our requirements in depth and re-configured the software to create a solution that currently benefits Wesco, and many other clients in the future. We now enjoy a 85-95% multi -currency match rate which allows the Accounts Receivable team to focus on debt collection using clean, accurate and up-to-date sales ledgers. Huge thanks to Matt and the team for their support and guidance throughout the whole process".
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