Lithuanian companies already managing EUR 19 billion in turnover with Rivile

Rivile, which develops business management and accounting systems, has been nominated for a Gazelė Award for the second year in a row. Last year, the success was driven by the company’s modern approach to business and customers, as well as Advantes Technologies coming on board as a strategic investor. According to Evaldas Žiedelis, the company’s director, it was their new products related to e-business and their enhanced management and capacity that secured the significant nomination this year.

This year, investment in product development and business development was increased threefold to over EUR 1 million, and the number of both employees and customers continued to grow. Rivile, which has been in operation for almost 30 years, used to call itself an accounting systems developer. However, for some time now, the company has been positioning itself first and foremost as a business management systems developer. According to Mr. Žiedelis, the transformation happened naturally: “After purchasing Rivile systems, some customers grew from small companies to large businesses with complex processes and large numbers of employees. As they grew, the customers encouraged us to develop solutions and functionalities for business management systems, so at the moment, the Rivile system often outperforms even the world’s largest business management systems in terms of functionality and capabilities.”

This year alone, Rivile has developed a system that allows payments to automatically be covered by debts, added forecasting, automatic order creation and instant registration functionalities, implemented the Rivile MSCAN 2.0 module for mobile devices, e-commerce integration solutions for e-commerce platforms and other external online systems, and almost 50 other functional changes, and improved i.SAF-T functionality.

This year, the company’s customers gave the features of the main product, Rivile GAMA, an average score of 8.7 points, and customer service – a whopping 9.1 out of 10.
In order to be a market leader, the company is continuing to improve its customer service processes. As this is one of the company’s most important priorities, it is given special attention. “Consistently improving operational and service processes allows us to serve customers faster and more efficiently. When customer service improves, customers respond better, recommend the product to others, and attract new customers. We have invested quite a bit in marketing and have become more visible in the media,” said Advantes Technologies Marketing Manager Julija Žukauskienė, who is responsible for Rivile marketing.

The scale of the company’s activities is best illustrated by the fact that every third company in the country uses Rivile – for managing and accounting as much as EUR 19 billion in turnover. “When you already have 30 per cent of the domestic market, growing the number of customers becomes difficult. We are local players, but our ambition is to enter global markets. We are already in Latvia, and we currently have our eyes on Scandinavia and Eastern Europe,” said the head of the company.

Even the pandemic has given the developer of business management and accounting systems new opportunities for growth. “The pandemic and the lockdown shook up the market – businesses had to reorient themselves quickly, and many of them dealt with challenges. At the time, we had already launched new web services and connected online solutions with the largest e-commerce platforms. That gave us a major boost,” declared Rivile Executive Director Marius Rubinas, who is responsible for digital and electronic solutions.

The company continues to focus on e-commerce solutions, and a business management system with artificial intelligence is evolving rapidly.
As part of the capacity building, the group hired 13 new programmers, while the company itself hired experienced business management systems consultants. The Rivile-affiliated group currently employs 38 people. In addition, the company has an extensive network of representatives throughout Lithuania, where the number of employees has also increased.

According to the director, it is the company’s people that allow it to maintain its leading position in the market. There is practically no employee turnover in the company – it is being expanding by retaining existing staff. “To have a happy customer, you first need to have a happy employee. We want to continue to grow in terms of our number of customers and capacity, and develop new products as well as our existing product so that it is as acceptable and user-friendly as possible; we are focusing on developing web solutions and capturing new markets. The biggest challenge is attracting qualified, experienced employees who are a good fit for the company’s culture,” says Mr. Žiedelis, in sharing the company’s insights and plans.

More: vz.lt