Rimilia, a developer of intelligent automated financial solutions, has signed a global partnership deal with business-process outsourcing expert VWi (Vengroff Williams Inc.).
VWi is an expert in cash and revenue management business process outsourcing that oversees in excess of $15 billion for 2,000-plus customers such as Yamaha, Symantec, Progenity and Tricon Energy.
Under the partnership, VWi customers will have access to a collaborative model and unique instance of Alloc8, Rimilia’s cash application software.
Rimilia Alloc8 automates the manually-intensive process of matching payments, including ACH, wire, checks and EFT, to receivables. With auto-matching rates up to 94 percent, Alloc8 improves the quality and speed of cash allocation and revenue recognition. Alloc8 also dramatically reduces lockbox costs, increasing lockbox hit rates up to 95 percent.
Steve Richardson, CCO of Rimilia said: “VWi has an outstanding reputation for its expertise and innovation in Order to Cash business processes across multiple industries; it’s a privilege to partner with a company of this reach, experience and reputation. This new partnership will play a key role as Rimilia continues to grow its global footprint and demonstrate to the U.S. market why our intelligent financial robotics continually outperform other solutions.”
Robert Sherman, CRO of VWi said: “Rimilia and VWi bring together a highly-automated end to end solution for the acceleration of robot process automation (RPA) and cognitive learning applications across the Order to Cash process. Our mutual culture of client collaboration and advanced automation agenda provides a platform with managed services as a unique option to the marketplace. With Rimilia Alloc8 now enabled within our platform, clients are utilizing the additional value gained to further transformation backed upon a lower total cost of ownership provided under our partnership”.
About VWi (Vengroff Williams Inc.) www.vwinc.com
Founded in 1963, with over $15 billion under its management, VWi is a leading business-services provider relied upon by more than 2,000 global clients to transform their businesses into leaner, more dynamic, agile and efficient operations. With a consultative approach to providing a full range of end-to-end solutions, VWi’s enterprise solution team delivers a highly automated and optimized environment for their clients. VWi delivers services globally with a core focus upon onshore delivery under a highly automated managed BPO offering.
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 90 people and is privately held.
Twitter: @rimilia
Press contacts: UK: Kinga Kopycinska kinga.kopycinska@rimilia.com Tel: +44 (0)1527 872123
USA: Hazel Butters hazel.butters@rimilia.com Tel: +1 617 530 0500
VWi: Robert Sherman rsherman@vwinc.com Tel: +1 714-889-6200