Biffa implement Alloc8 by Rimilia and achieve beyond world class automatch rates for cash allocation
Biffa, one of the leading nationwide integrated waste management service providers for local authorities, industrial and commercial clients in the UK have increased cash allocation process efficiency after implementing Rimilia's award winning automation software Alloc8.
Historically the cash allocation process at Biffa was heavily remit driven and manually intensive for staff which made allocating payments a time consuming and often frustrating process for the cash team, credit control and the all important customer.
Since the implementation back in September 2014, Biffa now use Alloc8 for BACS, faster payments and cheque processing.
In allocating payments, Biffa now achieve well above recognised world class automation rates for cash processing.
The current system driven automatch rate for their cash is 92% meaning that only 8% of payments require a manual allocation.
As a result of Alloc8's functionality, the need for remittance information has reduced and allowed for this to be streamlined.
The cash team have been able to take control of the payments and can offer proven advice to colleagues in credit control allowing both teams to work effectively together to Biffa's benefit.
Rimilia Project Manager, Matt Hill commented;
"Working with Emily, Ruth, David and the team at Biffa has been a real pleasure.
From the initial discovery visit and meetings with Biffa's technical team, through to implementation and beyond; we have all worked well together to ensure that Biffa were able to achieve their business case and that the change in process for the cash and credit control team, was well recieved and new process embedded.
Biffa's open nature and ability to manage/accept process change, has led to the success of the solution. I am delighted to have a client such as Biffa, join others from within their industry as users of Alloc8".
Transaction Processing Manager for Biffa Ruth Morland commented;
"It has been a real pleasure working with Rimilia (Matt and Tony) who have walked us through this incredibly sensitive project with remarkable efficiency and professionalism.
This is a fantastic product that has provided real benefits and savings to our customers and our business by delivering on the promises i.e. improved auto-allocation.
The software is 'state of the art', easy to use and has generated a real buzz motivating and engaging our staff. They now feel more rewarded by their involvement in delivering a significantly improved customer service for the business and our customers.
Don’t expect the achievements of the finance revolution to be limited to those of the last, AI has the potential to transform finance functions even more drastically.
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