Rimilia acquired by BlackLine, the leading financial close and accounting automation platform

The Problem

Energy businesses have had to adapt quickly to changing customer attitudes. Huge investments have been made to ensure operations are sustainable, and leverage analytics to improve service and react automatically to protect margin when markets zig or zag.

Though they’re at the forefront of two huge economic shifts – carbon zero and digital transformation – their back-office processes seem stranded in a different time, with crucial finance tasks still managed in many places by paper and Excel.

The Pain

Letting manual tasks dominate daily workflow makes applying remits tedious and time-consuming. It can drag productivity down and delay collections. Credit teams may find themselves duplicating effort, sometimes taking several tries to match the same payment to an invoice.

The Solution

Rimilia makes energy sector accounts receivable automation easy with intelligent cash application, optimising collections and adding to the insights energy businesses need to improve decision making.

By removing manual tasks, energy AR teams can focus on core functions like collections that add value to the business. Automated analysis of customer payment behaviour can increase working capital, improve aged debt, and reduce provisions for bad debt.

The Results

Environmental solutions giant Veolia operates at the intersection of multiple trends impacting the energy sector. It provides a range of waste management services to energy businesses, including nuclear generation plants, that minimise environmental impact.

With more than 80,000 energy, industrial and local authority customers, the company’s accounts receivable function has to manage in a complex, time-compressed environment. Before implementing Rimilia, the company had high levels of unallocated cash and a pressurised month-end crunch period with credit controllers spending all their time chasing payment.

To improve credit control, cash flow, productivity, and compliance with anti-money laundering policies, Veolia implemented Rimilia Cash. They’ve since seen a 70% increase in efficiency, and 75% savings on the costs associated with remittance matching.

  • 99% of payments are now applied on the day
    they’re received
  • Unapplied cash has dropped to 0.002% of the ledger balance
  • Banking errors have been eradicated
  • Month-end backlogs have disappeared
Veolia case study

Veolia case study

Read the full case study.

Intelligent AR Automation

By applying artificial intelligence to the accounts receivable function, Rimilia matches payments to invoices faster, with greater accuracy, and at a volume of output human intervention alone can’t deliver. The hours logged by AR teams keying in data, searching, checking, and double-checking, simply disappear. Customers see cash allocation happening faster. Errors are reduced, and more time is made available for credit control.

Intelligent AR Automation