The Problem:

As an enterprise grows, and especially when you develop global shared services, it becomes more difficult to apply customer payments to invoice line items. This leads to a high unapplied cash payments balance that creates complications across the entire business. Cash application errors lead to reduced customer credit, which hurts your sales relationships and leads to lost revenue and difficult financial relationship management.

The Pains:

  • Tedious, manual payment-to-invoice matching
  • Payments remain unapplied for more than 1 day
  • Customer financial relationships are strained
  • Business units complain about share services process
  • Customer credit is suppressed
  • Accounts receivable work feels daunting
  • Cash flow efficiency is hindered by processes

The Solution: How Rimilia Reduces Unapplied Cash

Matching unapplied cash to invoices using manual processes takes a long time to do properly, with good reason: this is important information and must be accurate.

Imagine having an employee who quickly aligns outstanding invoices to current payments with high accuracy, and then continues to leverage new data to become smarter over time. Imagine removing those overbearing and unnecessary lockbox fees! Welcome to the power of Rimilia’s Financial Relationship Management platform.

In some cases, we’ve seen a 99% reduction to unapplied cash.

With Rimilia, payments are quickly analyzed and auto-matched with accuracy. Non-standard customer behaviors are addressed with customizable features like Recycle Payments, to ensure invoices are raised for pre-payments, and Remittance Monitoring, in the event remittance advice or payment comes in at different times.

It’s time to maximize your customer financial relationships using the power of Rimilia’s machine learning.

Reduce unapplied cash balance.
Free up customer credit and improve sales.
Maximize the effectiveness of your A/R team.
Enable shared services to improve BU performance.
Improve accuracy of outstanding balances.
Gain insight into future cash flow potential & collections needs.

Case Study:

Biffia, a leading provider of integrated waste management services achieved world-class auto-match rates after implementing Rimilia.