LBB Rimilia – world class in a box!

This is the bold tag-line of business process automation (BPA) player Rimilia, whose technology is used by household names like Britivic, Veolia and Securitas to speed up the collection of cash into their business.

What we liked about Rimilia is its laser-like focus on cash allocation, an important, and yet often overlooked part of finance. Rimilia claims a world class rate of automation, helped by ‘self-learning’ technology that works to continuously improve the process.

Launched in 2008 by former utilities services managers, Chris McGibbon (CEO) and Steve Richardson (Commercial Director), they saw first-hand the problems businesses have allocating cash from invoices and payments. These are often small sums, from small suppliers, that can get misallocated or lost within the accounts department, and cause a huge headache for the accounts receivable (AR) and control and compliance teams.

Rimilia’s technology works by taking a data feed from the sales ledger of most ERPs, to match cash receipts to outstanding invoices, with or without a remittance advice. It can also reconcile the cash with any bank using standard protocols. It employs ex-games developers to give its software an edge in customer user experience - an increasingly important driver for enterprise adoption.

Rimilia isn’t short of ambition. Its SaaS technology appeals to clients with a global footprint and already serves customers in Europe and the US. Its vision is to create a ‘paradigm shift’ in the way the finance process operates. Predictive analytics is going to play an important role helping customers predict who pays on time, who takes longer, and who is likely to not pay at all.

This is about Rimilia helping its customers manage their exposure to risk. But just as importantly, it’s about developing customer insights and new business opportunities. Rimilia should really benefit aligning its solutions to these customer outcome drivers.

More to follow for subscribers in our Little British Battlers report out in a few weeks’ time.

Posted by John O'Brien at '07:10' - Tagged: saas   bpa