BlackLine, a leader in accounting automation software, has announced that it has completed the acquisition of Rimilia, an AI-powered cloud-based platform that enables accounts receivable (AR) automation and Digital Transformation. With Rimilia, BlackLine strengthens its position with the Office of the Controller by driving end-to-end automation of the cash lifecycle and ensuring greater data integrity. The acquisition expands BlackLine’s capabilities into an adjacent area, adding AR automation to financial close automation and accelerating BlackLine’s larger, long-term plan for transforming and modernising finance and accounting.
Headquartered in the United Kingdom, Rimilia is a leading provider of accounts receivable automation solutions that enable organisations to control cash flow and cash collection in real-time. Using Artificial Intelligence (AI) and Machine Learning, the SaaS (Software-as-a-Service) platform simplifies the order-to-cash process by automating both the collection and allocation of customer cash. Same-day cash allocation results in an unrivalled reduction in the number of days of sales outstanding, improves working capital and drives significant cost savings.
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“With most companies using legacy, repetitive and manual processes to manage their order-to-cash, our customers and partners have long been asking for a solution that will enable better cash and liquidity management. This is especially critical now in these difficult economic times,” said Marc Huffman, President and COO of BlackLine.