Rimilia partners with Aston University to boost AI expertise
Tuesday 29th September, 2020
Rimilia has announced the results of its two year partnership with Aston University to boost artificial intelligence (AI) expertise among Rimilia’s employees and enhance its intelligent financial management solution.
The collaborative project was a part of the Knowledge Transfer Partnership (KTP) a Government funded initiative that allows companies to access the expertise of a university’s academic community. The KTP links the industry with specialised academic researchers to provide businesses with expertise that reside at universities and apply the theoretical knowledge to real-life issues, creating a two-way relationship between both parties.
Since starting the project in October 2017, Aston University’s researchers and Rimilia’s team have engaged in developing and designing new products at Rimilia. The first outcome led the introduction of Insight, Rimilia’s cutting-edge solution which uses AI-powered customer behavioural analysis and customer segmentation to link the customer front office to business’ finance back office.
The KTP initiative also allowed for upskilling and re-educating companies such as Rimilia in different aspects related to data science and machine learning. Employees at Rimilia had the opportunity to improve their expertise in how and in which areas AI can help boost the company’s solutions, enhancing performance and increasing the market share. In addition, the project helped established the special requirements and the infrastructure Rimilia needs to meet to benefit from AI expertise.
The ground-breaking research uncovered how AI could be used to track debtor behaviour, and was shared at a number of national and international conferences, seminars, webinars, and during both prospect and customers visits. The research provided a boost of £220,00 in additional sales for Rimilia, with the team expecting this number to increase to £1.8m in over the next three years, the company said.
