Rimilia, a UK-based software company that provides cash allocation for organizations, has received recognition for its Alloc8 accounts receivable software. Having undergone assessments, performance checks, verification tests, and a site visit by Midland’s Excellence team of experts, Rimilia has once again proven that it has the technologies and right solutions for cash allocation. As a result, with Alloc8, Rimilia has been placed on a list of finalists in the specialist category of innovation as a nominee in the 2011/2012 Midlands Excellence Awards.
Last year, Rimilia’s Alloc8 was voted the winner of the ICM 2011 Innovative Solution of the Year Award. Now, Rimilia is once again receiving top honors in the “Financial World” from having exceeded normal expectations. Rimilia has demonstrated it has improved the accounts receivable operations of many organizations, including Veolia Environmental Services, where, according to Brian Morgan, the Head of UK Credit department, Alloc8 had helped them to match processing for all payments.
As pointed out by Brian Morgan, Alloc8 has not only helped his organization with costs associated with matching processing, but has also ensured all their transactions were allocated. Alloc8’s built-in learning capability makes it possible to automatically allocate money, without any user intervention, for incoming payments as quickly as possible. Also, it helps control the accounting processes and improves financial resource management and services for its customers.
The Managing Director at Rimilia, Chris McGibbon, said Alloc8 is a revolutionary piece of software that supports the full end-to-end accounts receivable process. It is simply a program that offers exceptional auto-allocation to match payments with invoices. Not only does it help optimize the processes involved in financial accounting but also it can reduce cash allocations costs and reduce unallocated cash.
In summary, Rimilia’s Alloc8 is being commended for its automatic payment computerization technology that has provided a tangible solution for organizations that want to streamline their accounts receivable process fast and accurately. With Allocs8, organizations no longer need to spend too much time struggling through cash receipts every month.
Daniel Brecht has been writing for the Web since 2007. His interests include computers, mobile devices and cyber security standards. He has enjoyed writing on a variety of topics ranging from cloud computing to application development, web development and e-commerce.
Edited by
Rich Steeves
