Learn how Avis went from 5-days' cash application turnaround to 1 day.
ABG is currently processing their accounts receivable cash receipts for their European territories using Rimilia Cash, a cash allocation software, and benefit from a combined auto-matching rate of 80% at invoice level.
Since going live with the software, Rimilia Cash has helped ABG to bring together cash allocation and reporting under one roof, and allows the finance function to exercise a single, best-practice process across Europe. This has also reduced the reliance upon local knowledge in the countries themselves and helps to ensure an efficient collection process can operate from a central location.
Rimilia Cash offers ABG a fresh and innovative way of dealing with cash allocation, including intelligent remittance capture, in line with their target of eliminating manual effort in the credit and collections process.
Rimilia Project Manager Phil Coombs commented;
“It has been an absolute pleasure to work with the Avis Budget Group team in Budapest and I look forward to this continuing as further territories are added. The approach of the receivables team in Budapest to changing and automating the process has been fantastic and provides a great platform on which to seek further efficiencies.”
Head of Service Delivery for Avis Budget EMEA Business Service Centre, Rahul Malhotra, wrote;
“We have now nearly completed the automation of our cash application process in EMEA using the Rimilia Cash software. It is working exceptionally well and we are on track to deliver the business case benefits. Rimilia has made this a very smooth journey and they have offered practical solutions to problems encountered along the way.
They have a real passion for the business they operate and this translates into exceptional customer service which we continue to receive from them.”