-Rimilia Alloc8 Collect credit management integrated with Microsoft Dynamics NAV ERP to automate credit management and improve cash collection efficiency-
Birmingham, UK – 11 December 2017 - Rimilia, a developer of intelligent automated financial solutions, announced today that YPO, a publicly-owned supplier of products and services to the British public sector, has implemented Rimilia Alloc8 Collect to increase credit management processes and enhance productivity.
YPO is publicly-owned by 13 local authorities and serves public sector customers across the UK including schools, local authorities, charities and emergency services. With a range of 30,000 products and 100 frameworks, the organisation is dedicated to delivering value for money and quality.
Rimilia Alloc8 Collect is a sophisticated collection software that provides action-based intelligence to financial teams so they can evaluate creditworthiness of customers, streamline credit management practices and increase credit management efficiency. Rimilia Alloc8 Collect’s self-learning engine, driven by predictive analytics and decision-making algorithms, is part of Rimilia’s Alloc8 suite of intelligent financial applications.
The YPO team wanted credit management software to streamline the organisation’s cash collection processes, manage large volumes of transactions and customer contacts, and decrease time to collect revenue from sales to lower Days Sales Outstanding (DSO). The solution also needed to integrate with existing applications, including Microsoft Dynamics NAV ERP (formerly Navision Software ERP) and Rimilia Alloc8 Cash Allocation, which YPO has used for cash allocation for three years.
Jamie Cunningham, CTO of Rimilia, said: “Our mission is to deliver financial applications and software that use artificial intelligence, machine learning and big data analytics to deliver actionable insights to our customers. As an existing customer for our cash allocation software, YPO has seen the benefits of applying automation and intelligence in matching transactions, and I’m excited to work with the YPO team on credit management - a lynchpin for any business.”
Alison Maconachie, sales ledger manager at YPO said: “It’s all gone really well, the team are all loving Rimilia Alloc8 Collect and feeling confident using it which is so important. The Rimilia team has been amazing and have been incredibly supportive. They have also taught us to use the system so we can make changes and structure events to suit the way the team think will be most beneficial.”
YPO is the largest public sector buying organisation in the UK and supplies products and services to a wide range of customers including schools, local authorities, emergency services, the wider public sector and other businesses such as nurseries and care homes. Established in 1974 to aggregate the procurement spend of its owning local authorities, YPO has helped drive public sector efficiency savings through its bulk buying power for product supplies and centralised contract services. More information at www.ypo.co.uk
About Rimilia www.rimilia.com
Rimilia provides intelligent, automated financial solutions to dramatically improve cash application, remittance services and credit collection processes.
Harnessing machine learning, predictive analysis and artificial intelligence, Rimilia enables corporates, lockbox providers and Fortune 1000 businesses to increase throughput, resolve unaccounted payments, gain transparency of transactions, and apply valuable predictive insight and dynamic decision-making into payment processes.
Rimilia’s Alloc8 software automates the manually intensive process of matching payments with expected receivables with auto-matching rates up to 94 percent, dramatically improving the quality and speed of cash allocation and revenue recognition. Customers include Adecco U.K., Avis, Biffa Waste Services, Hitachi, TalkTalk, Santander and Wesco Aircraft.
Founded in 2008, Rimilia is headquartered in Bromsgrove, U.K., with U.S. offices in Richmond, Va. Investors include Eight Road Ventures and Kennet Partners. It employs 92 people and is privately held.
Tel: 01527 872123
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