Benefiting from reduced manual effort, increased speed of cash application and greater visibility across the Accounts Receivable team.
Ultimate Finance want to be the funding partner of choice for businesses and Introducers in the UK. Backed by the Tavistock Group, they are able to provide funding solutions to businesses across all markets, regardless of size. Prior to implementing Rimilia, Ultimate Finance were growing rapidly but faced several challenges with their cash application process. All cash was processed manually and typically took a team of 6 a large proportion of the day. Rather than referring to trends and behaviours, the team were looking at incoming customer payments and having to manually review them taking up precious time.
However, they now have a reduced team of just 4 people in the Transaction Processing Team, all cash is applied quickly, meaning cash is on the clients account much earlier in the day. Repetitive, manual tasks have been removed. Using Intelligent automation built into Rimilia, Ultimate Finance now benefit from reduced manual effort, increased speed of cash application and greater visibility of cash.