Business success depends to a significant extent on process optimization. UAB “Rivilė”, which has been developing business management and accounting systems for more than thirty years, constantly offers businesses new solutions that increase efficiency, save money and employees’ time. The solutions developed by Rivile systems allow companies to digitize processes by performing operations with the press of one key.

Increases supply chain efficiency

The Rivile EDI (EKO) system created by the company’s specialists is already used by many Lithuanian companies. It enables a smooth, fast and reliable exchange of documents and data between business entities up to 80% more efficiently: proposals, orders, invoices and other documents can be submitted digitally through the EDI (EKO) system instead of in paper format. Using this system, Rivile customers could save up to 10 million. Eur. per year. Electronic data exchange solutions are equally important for businesses of all sizes.

Adding one invoice to the accounting system, depending on the volume of the document, can take from 1 to 15 minutes, sometimes even more. When exchanging documents with Rivile EDI (EKO), they do not need to be entered manually, scanned, checked – the risk of human errors on both the customer’s and the supplier’s side is reduced, the quality of the documents is guaranteed 100%.

Retrieving and importing bank statements has become a record time

The company has just launched an automated bank statement collection feature that is fast, simple and efficient with a single keystroke.

The application of the innovation reduced the collection and import of bank statements by up to 95%. It works with all major Lithuanian banks: Šiaulių banka, SEB banka, Citadele, Medicinos banka, Swedbank, Luminor and Revolut banka. Employees importing bank statements do not need to login to the bank, so the process of importing statements can be delegated to a wider range of employees.

The automatic function of taking bank statements allows you to track debts and balances faster and more conveniently, so you can do business faster, speed up cash flow and sales, and save the accountant’s work time. The function is very convenient for debt administration,” stressed Dr. Vilius Kontrimas, responsible for the company’s strategic management.

The company also uses the solution itself. “We installed this system ourselves. Now bank statements are not imported by accountants, but by employees of the sales department, because payment information is the most relevant for them,” said Marius Rubinas, who is responsible for digital solutions at the company.

M. According to Rubin, the automatic bank statement collection function is most useful for those companies that do a lot of bank transactions or need to check them frequently, and the nature of their business is completely irrelevant. “Although the function is new, it is already in demand,” the company representative was delighted.

Rivile sends a good message to those who are interested: for the majority of small and medium-sized companies using this solution, it will not cost anything extra, while for others the price will depend on how often this function is used and how much and what other integrations are available.

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Efficient and simple – these are two words to describe the Rivile EDI (EKO) system. The solution developed by UAB “Rivilė” specialists allows a smooth, fast and reliable exchange of documents and data between business entities up to 80% more efficiently: invoices, waybills and other documents can be submitted through the EDI (EKO) system instead of paper format. Using this system, UAB “Rivilė” customers could save up to 10 million. Eur. per year.

The majority of Rivile GAMA users can currently use a free limit of 50 documents, depending on the exchange method, to work more efficiently and modernly. The company’s clients do not need to adapt to business partners’ system formats or worry about separate communication lines in order to connect to their systems. One connection to the EDI system ensures reliable data exchange with all business partners.

The Rivile EDI (EKO) solution is suitable for any company that receives and sends invoices, and is most useful for those that receive a lot of invoices and have customers who can send them digitally. Undoubted benefits will also be experienced by those who issue a lot of invoices themselves, as they can fully automate the sending process itself. Typically, when you send a PDF, the recipient ends up with a digitally damaged document and needs to re-enter the data, duplicating work between different companies. The system speeds up and improves work, ensures greater accuracy,” said Dr. Vilius Kontrimas, responsible for the company’s strategic management.

The solution is effective, as it saves money and employees’ time: there is no need to reconcile invoices manually, and the use is very simple – with the click of a key: invoices and other financial documents and data are automatically entered into the system.

In addition, Rivile EDI (EKO) is a sustainable, environmentally friendly solution that allows you to abandon traditional paper documents in everyday work. This explains why the name of the system contains EKO, and behind the abbreviation EDI lies the English term “electronic data interchange”, which defines the electronic exchange of business documents and data.

Electronic data exchange solutions are equally important for businesses of all sizes: wholesalers, retail, logistics and transport representatives and manufacturers, small retail suppliers, farmers, cafes, bars, shops.

Adding one invoice to the accounting system, depending on the volume of the document, can take from 1 to 15 minutes. By eliminating the manual reconciliation of documents, the risk of human errors on both the customer’s and the supplier’s side is reduced. According to publicly available information, data quality improves by at least 30-40% with EDI.

“A single trade transaction can involve more than 10 documents: goods must be ordered, assembled and shipped, received and settled. Each step is accompanied by a new document. From the buyer’s point of view, we are talking about the process that starts with the purchase and ends with the payment, and from the seller’s point of view, from the receipt of the order to the arrival of the money. In both cases, EDI increases the efficiency of the entire supply chain. Since there is no longer double data entry, manual processing time and the number of human errors are significantly reduced,” said Marius Rubinas, responsible for digital solutions at the company.

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