Esker and Rimilia Enter Partnership Leveraging Artificial Intelligence to Offer Global Cash Application
LYON, France, and BROMSGROVE, England — September 26, 2018 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, has announced a global partnership with Rimilia, a provider of intelligent finance automated 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 percent, 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,” said 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 U.S. presence will help us achieve continued global expansion,” said 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.”
Esker is a worldwide leader in cloud-based document process automation software, helping financial and customer service departments digitally transform their order-to-cash (O2C) and purchase-to-pay (P2P) cycles. Used by more than 6,000 companies worldwide, Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit www.esker.com.sg. Follow Esker on Linkedin @Esker asia and join the conversation on the Esker blog at blog.esker.com.sg
Rimilia provides intelligent, finance automation solutions that enable organisations to 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.
Rimilia 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, USA, 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.
Rimilia headquarters are in the UK with US offices in Richmond, Virginia. Privately owned and backed by private equity investors, Eight Road Ventures and Kennet Partners, Rimilia employs over 100 people worldwide. www.rimilia.com