Esker and Rimilia enter partnership leveraging AI to offer global cash application


Johannesburg, 01 Oct 2018
Read time 2min 20sec

SPI, the African distributor for utility software products and services to the open systems segment of the IT industry and the southern African reseller for Esker, a leader in document process automation solutions, today announced that the latter has entered a global partnership with Rimilia, a provider of intelligent automated finance solutions that enable organisations to control their cash flow and cash collection in real time.

The mutually beneficial relationship will provide current and prospective Esker customers with a cash application automation solution; support Rimilia's expansion globally through a reseller agreement; and enhance the customer experience by leveraging the artificial intelligence (AI) and machine learning technology built into Esker's and Rimilia's solutions.

Under the new partnership, Esker's current and future customers will gain access to Rimilia's cash allocation solution, Alloc8 Cash. Rimilia Alloc8 Cash automates the manually intensive process of matching payments received, reducing manual labour and transforming financial processes. The software's market-leading auto-matching rates, up to 95%, are recognised by industry specialists, The Hackett Group.

The bidirectional partnership will enable Rimilia to apply Esker's technology to improve the speed and accuracy when capturing and reading data from remittances. Esker's intuitive, AI-powered solution will complement Rimilia's intelligent financial platform, empowering companies to guarantee and free up their cash flow in the most efficient manner.

"The order-to-cash cycle (O2C) is complex and involves a variety of moving parts within an organisation. Automating the entire O2C journey, beginning with sales order processing, continuing through invoice delivery, collections management, payment and cash application, enables true business transformation," commented Emmanuel Olivier, worldwide chief operating officer at Esker. "In order to offer a complete end-to-end O2C solution, we wanted to fill the market need for a cash application solution. When the opportunity came to partner with Rimilia, it made perfect sense. Both Esker and Rimilia are focused on leveraging AI to provide best-in-class automation solutions that make people's lives easier."

"Esker's strong US presence will help us achieve continued global expansion," added Steve Richardson, co-founder and CCO of Rimilia. "We anticipate high adoption of our cash application solution, especially among Esker's current customers, since the technology complements Esker's collections management offering. We look forward to working with a company that shares our vision and passion for AI and machine learning."

For further information, please contact Chris Anderson at tel. (+27) 11 234 1560; fax (+27) 11 234 1387; e-mail chris@spi.co.za.

Rimilia

UK-based Rimilia provides intelligent, finance automation solutions that enable organisations' cash flow and cash collection in real-time. The software solutions use sophisticated analytics and artificial intelligence (AI) to predict customer payment behaviour and easily match and reconcile payments, removing the uncertainty of cash collection. Its software automates the complete account receivables process and eliminates unallocated cash, reducing manual activity by an average 70% and achieving best-in-class matching rates recognised by industry specialists, including The Hackett Group.

Rimilia operates globally across any sector, with customers in over 50 countries spanning, the US, Europe and Australia. The cloud-based solution is easily implemented, delivering a ROI within 12 months. Customers include Santander, Wesco, Hitachi Capital, TalkTalk, Avis and Hertz.

Esker

Esker is a worldwide leader in cloud-based document process automation software. Esker solutions, including the acquisition of the TermSync accounts receivable solution in 2015, help organisations of all sizes to improve efficiencies, accuracy, visibility and costs associated with business processes. Esker provides on-demand and on-premises software to automate accounts payable, order processing, accounts receivable, purchasing and more.

SPI

SPI is a company that provides utility software products and services to the open systems segment of the IT industry. It is the sole sub-Saharan Africa distributor for US-based Innovative Routines, US-based Help/Systems, US-based Linoma Software, France-based Esker and UK-based OpusVL (ex Xi Software). SPI also develops some of its own software utilities to complement the overseas products that it distributes.

SPI has a wide and varied customer base and includes organisations such as Aspen Pharmacare, Johannesburg Municipality, University of Johannesburg, MMI Holdings, Nampak, National Brands, Stellenbosch University and UNISA.

Editorial contacts
Global Research Partners Paul Booth (+44) 74700 33126 pabooth@mweb.co.za
SPI Group Chris Anderson (+27) 11 234 1560 chris@spi.co.za