JSC “Rivilė” has launched a modern cloud-based Enterprise Resource Planning (ERP) business management and accounting system that is intuitive, functional, fast and user-friendly. The system is perfectly suited for medium and small retail and service businesses
ERP allows the most detailed level of accounting and management of stock and pricing of goods and services, and is very convenient for small businesses where summary accounting is sufficient. The system can be tailored to the specific and individual needs of the company. “Rivilė” pays particular attention to the quality and speed of service of this new product.
As technology improves, cloud-based business management and accounting systems are becoming increasingly popular. These systems are characterized by the fact that there is no need to worry about the technical resources of the applications and the need to find expensive IT specialists to maintain the software, and there are no restrictions on the physical workplace as the system can be accessed via a web browser from any location. Employees from different organizations can work on the same system, e.g. an accountant from another company can do the accounting, while the company’s own processes and activities, from the manager up to the top management, can be managed and viewed in real time from anywhere in the world.
As accounting systems evolve, so do the needs of the business sector. Businesses want efficiency, mobility and convenience. Seeing that cloud technology makes this possible, Rivilė, which has been designing and implementing accounting, finance and business management systems for three decades, has also taken this route.
Meets all accounting requirements
This business management and accounting system fulfils all the requirements of quantitative and summary accounting, provides exceptional visibility of stock movements, flexible pricing of services and goods, and the adaptability of the system to the needs of a particular company.
“Today, Rivile ERP fulfils the requirements of accounting processes from full bookkeeping to profit and loss statements, and has a wide range of solutions for trading and service companies,” says Singaras Tribė, Product Manager.
For example, the cloud-based Rivile ERP system provides accurate and detailed records of inventory balances. Items are displayed at different points in the supply chain process: ordered from supplier, received in stock, booked, reserved for customer, handed over to customer before SF has been issued, customer quantity ordered, etc.
It also shows the prompt sale of goods. Rivile ERP allows you to reserve and sell goods in stock after confirmation of the quantity received from suppliers, before the purchase invoice is issued. Rivile ERP provides omnichannel commerce to retailers, enabling them to sell across multiple channels (e-commerce, wholesale, retail), fulfilling a variety of customer needs in terms of payment type, delivery of goods and order placement.
Traders and service companies also benefit from the system’s flexible pricing. Rivile ERP offers a flexible model for product pricing and promotions, e.g. percentage discounts for groups of goods and/or services, discounts for larger quantities of goods and/or services, special pricing for defined groups of customers or stores, exception management, etc.
Designed for efficient work
A trial version of the new Rivile ERP system was launched last autumn. More than 100 customers have already tested and used the system.
“It’s great to see that our customers have been pleasantly surprised – we have received a lot of good feedback. We also have users in foreign countries,” says S. Tribė. – Apparently, the fact that we pay a lot of attention to customer service helps us to grow the number of users.”
He says that if you have a query, you can register it in the system itself. And every enquiry is responded to sensitively: the customer is contacted in order to answer the question or help find a solution. In addition, a user guide is available inside the system, which provides everything you need to learn in one clear and accessible place. This allows newcomers to quickly assimilate the information they need and start working efficiently.
“Quick access to instructions and guidelines allows users to do their job more efficiently. Answers to common questions are just a click away. All this allows users to focus on the tasks that are important to them,” says the Rivile ERP product manager.
Adapts to meet specific needs
Rivile ERP is distinguished by the implementation of unique solutions.
“It is hard to find two companies with identical business processes. Practically every company has individual needs for automating its processes. We continue the good practices of our now very popular business management system Rivile GAMA and apply them to Rivile ERP, which is why we have created an automation platform that enables the realization of unique customer-specific business process solutions,” says Dr. Vilius Kontrimas, who is in charge of strategic management at Rivilė.
The integration platform developed allows the exchange of data with various systems such as e-commerce, CRM, production management applications. According to the product manager, integrity is important for companies of all sizes.
“Rivile ERP entered the market last year and we continue to develop it intensively in response to customer requests. Every week, new features are added to the application, while maintaining the stability of the user’s work with the system”, – says S. Tribe.
The modern business management and accounting software Rivile ERP and its additional benefits can be used free of charge until 1 May.
Rivilė, which has been operating for more than three decades, is one of the most popular manufacturers of business management and accounting systems in Lithuania. The functionality, flexibility and reliability of its current popular product Rivile GAMA have led to the fact that almost one in three Lithuanian companies maintains their accounts or manages their entire business with this product. It is used by small, medium and very large companies. Start-ups can grow to the size of corporations using Rivile GAMA, focusing solely on business growth. By the way, Rivile MGAMA was recently launched as a web portal for working with Rivile GAMA. “Rivile also offers additional new applications to work with Rivile GAMA: Rivile MSCAN for quick selection and inventory, Rivile EPI for e-commerce, Rivile API for connection to external systems, Rivile EDI (EKO) for electronic exchange of business data.
More about Rivile ERP: here.
Rivile MGAMA has been added to the JSC “Rivilė” family of online products. Rivile MGAMA – a web portal to work with the core system Rivile GAMA, focused on current and new customers, and Rivile ERP – a business management and accounting system, more focused on new customers. The company creates web-based solutions in response to market developments and customer needs. This is also appreciated by economic experts – for the fifth year in a row JSC “Rivilė” has won the “Top Company” title.
Mobility becomes a must
“The single letter M, which accompanies the name of the previous programme, also reveals its essence. Rivile MGAMA is a mobile window to Rivile GAMA and has added value to the system by solving its mobility problem. The new mobile web portal is specifically designed to work with Rivile GAMA,” said Marius Rubinas, the company’s digital solutions manager.
“Today, mobility has become a must and a cornerstone of society’s changing habits. In order to meet the needs of users, Rivile API, Rivile MSCAN was born alongside the core system Rivile GAMA. As we increasingly heard from our customers that they wanted a convenient and simple tool for performing HR functions, obtaining and approving internal documents, we developed Rivile MGAMA,” said Dr. Vilius Kontrimas, responsible for the company’s strategic management.
Rivile customers will be one step ahead
Rivile MGAMA is an example of how technology can adapt to changing business needs and provide greater mobility at work. This solution improves efficiency, allowing the business to grow and evolve with the rapidly changing business environment. “With Rivile MGAMA, you can stay one step ahead in the competition and run your business efficiently using mobile technology,” emphasised Dr. V. Kontrimas.
The new system started with staff self-service and document validation, and may be extended to other modules in the future, making it even more user-friendly. They already admit that they have been looking forward to the solution and that it is simple and easy to use.
System features and benefits
The app is user-friendly, modern and allows you to work 24/7 with any mobile device with internet access: mobile phone, tablet, laptop or desktop computer.
The solution is based on the Rivile GAMA system, it is easy to implement and it is relevant for businesses of all sizes, current and new customers. The solution is widely customisable, with easy document approval, efficient task management and advanced HR solutions.
The Employee Self-Service system allows employees to submit and approve vacation requests, view their vacation history and balances, submit pay slips, approve internal rules, and approve secondments through the system.
“The development of the solution is not stopping here: modules for managing business and HR processes are planned, and functionalities such as the submission of travel requests, the transfer of attached files from the database and the work calendar are already planned. Once these plans are implemented, system development decisions will be taken to modernise and facilitate the work of employees, taking into account the wishes and needs of customers,” said M. Rubinas
Rivile product innovations
Artificial intelligence was added to the Rivile GAMA programme in 2021. This strategic business move was driven mainly by the need for companies to more accurately forecast sales, balances and other key metrics, save time and increase business efficiency.
Rivile has also developed the following web-based solutions: the Rivile API, a set of third-party web services that allows the integration of its systems with Rivile GAMA, and Rivile MSCAN, a quick picking and receiving application that can be used with a storage device or a mobile device equipped with a browser.
Also this autumn, the cloud-based business management and accounting system Rivile ERP was released. All of these solutions will allow Rivile customers to grow by choosing the right solution for them.
More: vz.lt
“Rivile ERP”, the newest product of UAB “Rivilė”, provides an opportunity to manage and account for your business innovatively in the cloud. From now on company now offers two main products: a new cloud based product – “Rivile ERP” as well as the very popular system “Rivile GAMA“, which is implemented in the customer infrastructure.
The products of JSC “Rivilė” are business management systems (ERP – enterprise resource planning) with an integrated accounting system. ERP is an enterprise resource planning software system with a set of integration solutions used by organisations to manage and analyse the various business processes and functions in different departments or divisions. The company’s specialists have moved this to the cloud and now provide all services including data storage, processing, networking, software and system updates.
The system enables you to improve your organisation’s efficiency by using real-time financial data and automating routine tasks.
“In today’s fast-changing business environment, cloud-based ERP systems are gaining a competitive advantage. They are flexible, cost-saving, accessible from anywhere with an internet connection and offer advanced features. These systems enable companies to adapt to market changes, meet customer needs, efficiently streamline business processes and are a very important tool for modern organisations,” said Dr. Vilius Kontrimas, responsible for strategic management of JSC “Rivilė”.
“RIVILE ERP” – simpler, faster, smarter
The Product Manager, Singar Tribė, pointed out that the “Rivile ERP” business management and accounting system does not require any additional investment for the purchase of a server, its regular maintenance and updating, and the organisation can do without expensive IT specialists. This allows the company to concentrate on its main activities.
The “Rivile ERP” installation process is quick and easy, and the system is available 24 hours a day, seven days a week from any device with an internet connection. This provides great flexibility in the organisation of work and allows employees to work from anywhere in the world. The system’s user-friendly and intuitive interface allows for a quick understanding of the system’s operating principles, with the main functions being mastered in just a few hours,” said Mr Tribe, describing the product.
The product is mainly aimed at small and medium-sized enterprises and can be used to manage and streamline a wide range of businesses.
Convenient for all
The software allows you to keep all your company’s accounting records in line with today’s tax requirements. The company’s representatives also point out that the system has a wide range of useful functions designed for trade and service companies, enabling them to make the work of managers and their supervisors more efficient: it generates purchase and sales orders, stock receipt and disposal, stock adjustment operations, purchase and sales invoices, manages buyer and supplier contracts and prices and discounts for goods and services at various levels, controls the movement of stock balances, customer debts and settlements.
“Rivile ERP” offers accurate and detailed accounting of stock movements, flexible pricing of goods, and enables retail and service companies to trade efficiently across all e-commerce, wholesale and retail channels, fulfilling a wide range of customer needs in terms of order placement, payment and delivery of goods and services.
“Our team is always ready to provide technical support to our customers to resolve any ERP issues and problems efficiently. At the same time, we offer a wide range of training and consulting services: every customer receives the tools and knowledge they need to use the system successfully. This helps to accelerate the efficiency of company processes, save costs and increase revenues,” said V.Kontrimas.
With the launch of its new product, Rivile sends a good message: until 1 June 2024, Rivile ERP is available free of charge; to take advantage of this opportunity, you must register before 1 November 2023.
The key to a business view
Rivilė UAB, which has been developing and implementing business management and accounting systems for more than thirty years, continuously offers businesses new solutions that increase efficiency, save money and sav employees’ time.
The company notes that the business environment has changed dramatically over the past decade, with increased digitalisation, more remote working, data-driven decision-making, and a focus on cost-efficiency and sustainability. dCloud-based ERP systems have evolved to meet the changing needs and have become more important than ever for companies seeking to thrive in today’s market.
According to experts, an ERP system is the key to a 360-degree view of the business. It helps to move from disparate to actionable real-time data that can be used to improve the company’s performance. Statistical surveys on ERP show that as many as 95% of companies have improved their business processes as a result of implementing ERP. Reduced process time, increased collaboration and a centralised data system were the three biggest benefits identified by companies using ERP in the survey.
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.
More: vz.lt
At the beginning of September, Rivile received some great news: the company was listed among the most reliable, stable and profitable companies in the TOP Company 2022 list. Equally joyful was the end of the first autumn month: Rivile, that has been developing business management and accounting systems for thirty years, was admitted to “Unicorns Lithuania”, an association uniting more than 60 companies in the tech sector.
According to Dr. Vilius Kontrimas, responsible for the strategic management of the company, Rivile’s membership in the association “Unicorns Lithuania” marks a new era for the image of this brand. “This is a step in becoming a unicorn, and that is what we are aiming for. We create products that are aimed at foreign markets; we invest a lot in this and expect our future growth rates to be measured not in percentages but in multiples. We are glad that these changes become noticed not only by us, but also by people from outside,” said Kontrimas.
The nomination for TOP Company 2022 reflects yet another side of strength of the developer of business management and accounting systems. It is no secret that many companies when planning a large expansion make the decision to be loss-making and operate on the investors’ money. Rivile has chosen a balanced path. “We managed to strike a balance between large future investments and the present sustainable financial result. We feel a great responsibility to our customers, and we have a lot of them: our products are used directly or indirectly by one third of Lithuanian companies, so we must take a very responsible approach to financial sustainability and continuity,” emphasized the strategist of the company.
Currently, there are about 170 thousand enterprises present in Lithuania, 10 thousand or 6 per cent of which meet the criteria of TOP Company 2022.
In fact, for Rivile, it has been a fruitful year in terms of awards and nominations. The company was included in the Financial Times TOP 1000 list of Europe’s fastest-growing companies. Rivile, ranked among the Top 1000 companies, grew its revenue by 166% and reached a turnover of EUR 3.9 million in 2020, compared to EUR 1.5 million in 2017.
“The fact that we got noticed by the international community has greatly contributed to the company’s image and inner pride. The Financial Times has made a great impression on the company’s employees, and this achievement is very important for them. This recognition capped off a phase of significant changes that have occurred over the last four years. I believe this will help us find partners, customers and representatives in foreign markets in the future,” said Kontrimas.
The company’s leading solutions will soon be complemented by cloud business management systems focused on rapid business development abroad. “We have strong ambitions to expand abroad; we are also focused on the development of new products, and that has brought results. The nominations indicate that we are moving in the right direction, and that we have the potential to grow. We do what we know best and do that in the best possible way, each employee of the company contributing in their unique way,” said Evaldas Žiedelis, responsible for Rivile’s sales and development.
Rivile has no intentions to rest on its laurels. The most desirable goal of the company’s managers is to achieve international recognition in the rankings of business management systems (ERP): Forrester, Gartner, etc. Another goal is to be among the most desired employers. “Good performance indicators, low employee turnover, high salaries, and a good and warm working environment suggest that we may be potential candidates for this nomination,” said Kontrimas.
More: vz.lt
“Rivile” is happy with a new rating – a place in the prestigious “Financial Times” list of the fastest growing European companies.
For the sixth consecutive year, “Financial Times” publishes a list of companies from various sectors whose incomes grew the fastest in the last four years. The FT 1000 company ranking is a joint initiative of the Financial Times and the market analytics company Statista. The latter performs market analysis, collects and evaluates data, communicates directly with tens of thousands of companies.
Rivile’s revenue growth in the estimated period of 2017-2020 reached 166%, which led to the company’s position in the list of the fastest growing European companies. The FT 1000 recognition achieved in the thirty years of the company’s existence shows that a mature company that has made decisive decisions and implemented changes can grow like a startup.
“We are very happy and proud to be noticed and evaluated among the millions of companies operating in Europe. This achievement shows that the excellent implementation of the new strategy, changing the business model, and focusing on the implementation of innovation and modern management principles have yielded tangible results.” – says the head of “Rivile’s” strategic investor “Advantes technologies”, dr. Vilius Kontrimas.
During the evaluated period, the company experienced purposeful, planned internal changes and significant market shocks caused by the pandemic. “Revenue growth during such a challenging period shows that we are a strong company, and the products we develop and the services we provide are critical for organizations to survive and grow in challenging times.” – says Evaldas Ziedelis, responsible for sales and marketing of Rivile.
“I believe that this achievement is a beautiful assessment of our results, which contributes to the promotion of Lithuanian business and the spread of the Rivile name as we enter new markets with new products that are being developed, and increases our awareness in Lithuania and abroad . I want to sincerely thank all employees, partners, customers, whose joint efforts led to such success.” – says dr. Vilius Kontrimas.
About the Financial Times
“Financial Times” is a prestigious business, financial, economic and political daily newspaper and portal. The newspaper has a global circulation of 600,000. copies. Headquartered in London, but with editorial offices in the US, Europe and elsewhere. The owner of the daily newspaper is the Japanese company Nikkei.
About Statista
Statista is a German company specializing in market and consumer data analysis. The company provides statistical analysis, data collection services to business clients, teachers, researchers.
About Rivile
“Rivile” is a business management and accounting system with which more than 30 thousand companies in Lithuania are managed and accounted for. in 1992 The company founded by UAB “Rivilė” has grown and maintains its popularity due to a constantly developing, flexible and very diverse product that meets business needs, a wide network of program installers and developers, and an exceptional team of professionals. Advantes Technologies, a strategic investor who took over the helm of the company in 2018, is constantly increasing the company’s capabilities, investing in the development of new products and planning expansion in foreign markets.
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
Small and medium-sized companies can now apply for long-awaited financing by e-mail. for implementing and integrating commercial solutions under the measure “E. business model for COVID-19”. One company will be able to receive up to 50 thousand. EUR financing, which will be provided as 75 percent. support for the project and implementation of project activities. According to the representatives of the company “Rivile”, which develops business management and accounting systems, this opens the possibility for companies to implement electronic business solutions and accelerate your growth with minimal investment.
The COVID-19 pandemic has caused e- the leap in commerce, which forced businesses to digitize, work remotely and look for customers via e-mail. in space. However, part of the companies did not take advantage of these circumstances for various reasons, including the lack of their own financial resources.
August 19 the call for applications under the long-awaited EU funding instrument “E. commercial model COVID-19” allows small and medium-sized companies (SMEs) to use support and thus grow their e-commerce trading business. Companies can request from 10 to 50 thousand. financing of EUR 100,000, which would help them digitize and develop their business more effectively online, optimize labor costs and increase income.
Will finance most of the cost
The received support will cover up to 75 percent. all project costs, so companies will only need to contribute a small part of their own funds. According to Evaldas Ziedelis, director of Rivile, this should become a great incentive for businesses to digitize – to implement new business models, to automate the processes carried out in the company, to integrate e-mail. trading solutions, renewing the existing equipment, purchasing the necessary licenses and the most suitable service package.
“When we talk to small businesses, we notice that some of them still send their orders by e-mail. by mail, receive invoices in PDF format, and manage data and calculate wages directly in Excel tables. This is inefficient in terms of time and human resources, and increases the probability of errors. And after preparing a suitable business management system, you can work comfortably, see data in one program, automate and make processes more efficient, and even use integrative and artificial intelligence-based solutions. If until now there was a lack of funds to purchase such tools, the support should become a strong incentive”, says Julija Žukauskienė, who is responsible for the company’s marketing.
Thanks to the support, businesses will also be able to finance e-commerce integration solutions. The latter allows importing data from e-mails created or owned by the company. commerce platforms, helps avoid manual data entry and saves time. These decisions, according to Rivile’s executive director Marius Rubinas, became especially relevant during the pandemic, when some companies were forced to move their trade to e-commerce. space and started selling in several trade channels.
No business is too small for digitization
Rimgaudas Pazniokas, partner of Audifina, a company providing audit, accounting services and tax and financial management consulting, assures that digital tools and business management systems enable companies to do their work more efficiently, increase employee satisfaction and thereby increasing profits.
“There are about 50 people in our team. Comparing the available human resources with the scope of work, we fully understand that every automation, every integration, every system improvement pays off for us. To summarize everything, the benefit is that everyone’s work with the system brings profit. By using digital tools, we “untie” the hands of our employees, not requiring them to spend a lot of time on routine but important tasks,” assures R. Pazniokas and adds that it also increases the job satisfaction of individuals.
Although some businesses still believe that process automation solutions are primarily a step for large and mature businesses, specialists assure that there is no business too small for digitization.
Companies that have a very wide range of services and products, correspondingly a smaller amount of repeated identical operations, automate processes less often. According to R. Paznioks, even a small manufacturing company, focusing on several product groups, can easily automate its production and other business processes and increase work productivity.
What should those planning to apply know?
According to this call, EUR 40 million will be allocated from EU structural funds to very small, small and medium-sized domestic companies. euros. Companies wishing to receive support must be in operation for at least one year, and the average annual sales revenue of their own products or services provided over three years must be at least 50,000. euros. Greater priority will be given to those companies whose average monthly turnover decreased by 30 percent or more during the set period.
Among the financed solutions are various e-commerce and customer self-service tools that allow smooth communication with customers, manage sales information, exchange data or prepare offers, contracts and other documents more easily. Also – integrations with business management systems (ERP – resource management systems), which allow efficient planning of the demand for goods or services.
When submitting an application, companies must have planned the e-mail they want to implement. commercial solutions or tools, their suppliers and have commercial offers. Although there are a lot of standardized products on the market, according to E. Ziedelis, before choosing digital tools, companies should consult with potential suppliers and find out what solutions would help to grow the business the fastest, with the most efficient investment of funds.
Rivile, which develops business management and accounting systems, informs that companies planning to purchase their products or services can also use this support. Expenses incurred when renting or purchasing can be financed: with e. trade, customer self-service, software related to process management, integration solutions, mobile management applications, various additional modules related to supported activities, or when paying for consulting, training, programming services provided.
Source: respublika.lt
2020 highlighted the importance of innovation. The explosive growth of e-commerce market encouraged Rivile, a business management and accounting software development company, to shift the focus to new solutions. The company introduced an updated version of Rivile GAMA, supplemented with artificial intelligence (AI) technology and additional functions for business management and e-commerce.
In 2020, businesses had to shift away from physical stores to e-commerce, mobilize work and digitize their business activities. In order to address rapid changes in customer needs and demands, Rivile adjusted its product and business development plans and introduced important e-commerce related solutions, artificial intelligence-based products and other automated business management and accounting functions.
“We have tried to listen to the new needs of our customers and respond to them as quickly and accurately as possible. Therefore, the new version of Rivile GAMA is even more intelligent, mobile and focused on e-commerce. While developing our products, we analyzed the entire e-commerce process, for example, how quantities are forecasted, how goods are received or sold, how payments are reconciled or how essential reports are prepared. We hope that the updated system will allow customers to mobilize work, automate processes and digitize business activities, and, of course, help them to grow their business more successfully,” Evaldas Žiedelis, director of Rivile, said.
Artificial intelligence will facilitate customer demand forecasts
Artificial intelligence-based solutions are at the heart of the new version of Rivile GAMA. According to the head of the company, this strategic business move was primarily driven by the need of the companies to forecast sales, stock on hand and other important indicators more accurately, thus saving time and improving business efficiency.
In cooperation with KTU researchers, the company completed a research and experimental development project, and together with the new version of Rivile GAMA, has recently launched artificial intelligence-based tools for business.
An updated business management and accounting system with integrated AI technologies allows companies to forecast goods, raw material and production orders and demand more accurately. It makes it easier for businesses to maintain the desired amount of goods in warehouses, prepare for possible increases in demand or avoid raw material supply shortages in production. Companies can choose a specific forecasting method themselves or allow the system to do it for them.
Evaldas Žiedelis explained that the company decided to focus on artificial intelligence and the development of tools based on this technology after starting a new partnership with Advantes technologies , a company providing business productivity improvement and automation solutions.
“The focus of future product development is artificial intelligence-based expert systems for better decision-making and process automation. The Rivile system is the backbone of many companies of the country, thus by integrating additional artificial intelligence solutions we aim to enable our customers to be more automated, more productive and grow faster,” Dr Vilius Kontrimas, CEO of Advantes technologies, said.
Focus on e-commerce solutions
During the pandemic, companies faced a range of various major challenges, and namely the need for effective solutions for online businesses encouraged the development of additional Rivile products.
As online sales increased significantly, some companies were forced to implement fundamental changes in existing processes: earlier some tasks could be done manually by employees, and now companies had to look for either additional human resources or automated solutions. Therefore, the new Rivile GAMA version allows to import sales data from Shopify, Etsy, PrestaShop, Pigu.lt and other e-commerce platforms.
“Before the pandemic, for some businesses the turnover from online sales was very insignificant, but now their online sales surged. Such turnover growth and low digitalization meant more work and problems for businesses. In order to eliminate the need for our customers to look for extra workforce, we decided to offer integrations with various e-commerce platforms. From now on, after integrating the e-commerce platform with Rivile GAMA business management and accounting system, sales data and other business-relevant parameters will be retrieved automatically. As the amount of manual tasks decrease, company accountants can devote their time to more important tasks,” Žiedelis said.
In order to ensure efficient order fulfillment for merchants, together with the new Rivile GAMA the company introduced an updated mobile scanning application MSCAN. The newest version enables employees who are working in the store premises or warehouses to work independently and in real time with a business management and accounting system. The mobile application works easily on any device with a web browser – there is no need to make significant investment in the required devices. To be able to work with MSCAN, a smartphone and a wireless scanner (prices of which start at EUR 15) are everything you need.
With the new version of MSCAN, customers can work more conveniently and productively in the store premises or warehouses. The mobile application allows order pickers or warehouse workers to execute orders in an independent and flexible manner: collect goods efficiently, make the necessary changes, e.g. adjust quantities if there are not enough goods available, create additional documents and perform other necessary actions.
Automated solutions facilitate business management and accounting
More than 30,000 companies, that manage business and accounting processes using Rivile products, now can use additional solutions that will facilitate business management and accounting.
From 2019, an increasing number of Lithuanian companies, including small businesses, may face the need to submit a SAF-T file to the State Tax Inspectorate if their annual income exceeds LTL 300,000. The companies are obliged to submit their accounting data in the SAF-T file format upon the request of the State Tax Inspectorate, for example during a tax audit.
“We have noticed that the use of SAF-T is increasing, for example, companies may have to provide data in this format in order to recover the overpaid VAT. To facilitate the work of our customers and reduce the likelihood of errors, the new version of Rivile GAMA offers an i.SAF-T functionality, which allows you to easily generate and submit a SAF-T file to the State Tax Inspectorate. We constantly improve this tool taking into account business needs and changes initiated by the State Tax Inspectorate,” Žiedelis said.
An improved Rivile’s Settlements module will also help to facilitate the company’s accounting processes. The reconciliation of debts and payments requires a lot of work and effort, and this is something that most businesses do every day. Now, the newly improved Settlements module allows to fully automate this process, while saving time for accountants and accounting specialists and reducing the likelihood of errors.
Source: vz.lt
Over three years, the number of employees of the Rivile Group, which develops business management and accounting systems, has grown by more than 100% and revenue has increased by more than 80%. The company became one of the fastest growing businesses in Lithuania and was nominated for Gazelle 2020 awards. Modern approach to business and customers and partnership with a strategic investor Advantes technologies helped us to achieve this significant nomination.
“We are very proud that Rivile, that has been in business for 29 years, was nominated for Gazelle 2020 awards. Such recognition proves our slogan “For business that wants to grow” to be true and gives our team, customers and partners a clear indication that we are moving in the right direction – we are able to provide high quality products and professional customer service,” Evaldas Žiedelis, director of Rivile, said.
Since 2018, the company has been focusing on team development and revenue growth, and has recorded a 100% increase in the number of employees of Rivile and its directly related companies and an 80% increase in revenue over the past three years.
“The growth of the entire Rivile ecosystem is even more remarkable. A wide network of representatives and system developers, consisting of 24 companies in Lithuania and 1 in Latvia, helped to increase revenue by as much as 137 percent during the three year period. We have attracted more representatives and partners, and the teams of existing Rivile representatives have grown as well,” Žiedelis noted.
The director of the company revealed that the company is preparing to increase the pace: future expansion into foreign markets, namely into the countries of the Baltic region and Eastern and Northern Europe, is planned. A large part of the newly joined team is already working on the development of new business management and accounting products. In collaboration with KTU researchers, the company has just completed a scientific research and is about to launch artificial intelligence-based solutions for more efficient business process management.
Transformation led to a significant growth
The rapid growth of the company in recent years has been driven by a focus on service quality, innovation and the implementation of modern management principles.
In two years, the company has implemented twenty important transformation projects in line with its sustainable business development strategy. A new partnership with Advantes technologies, a company providing business performance improvement and automation solutions, has been a particularly important achievement for the entire ecosystem. Two companies decided to combine their energy and expertise in order to become a market leader in business management systems in the Northern, Central and Eastern Europe.
The continuous improvement of Rivile systems and investments in customer service quality enhancements have brought positive results for the company, and new products introduced to the market have received customer recognition.
In 2020, Rivile’s customers rated the features of the main product Rivile GAMA on average 8.8, and the customer services – 9.2 out of 10. It is estimated that almost every third Lithuanian company maintains its accounting records or manages the entire business using Rivile systems. A diverse customer base consists of companies of various sizes and industries, including retail and wholesale companies, service, transport, education, manufacturing, pharmaceutical, healthcare and IT businesses.
High level of team involvement and focused efforts have allowed the company to increase the value to customers over the last few years. “We introduced five new versions of Rivile GAMA and released five new modules for business management, as well as solutions based on the latest web technologies for business process management – the mobile application MSCAN for fast goods selection and documentation, and integration solutions based on API REST. We have developed system integrations with various popular e-commerce platforms and business analytics tools, and we have launched a new multilingual website. For those who want to improve their accounting skills, we are offering an online guide dedicated to the new version of Rivile, free access to the online Rivile Academy learning course and certification system, a Rivile GAMA demo version and expert seminars organized by Rivile and its partners,” Žiedelis said.
According to Julija Žukauskienė, marketing manager of Advantes technologies, who is responsible for Rivile marketing strategy, the renewed brand image reflects internal company transformations while the new company’s slogan “For business that wants to grow” clearly expresses the goals. Integrated active marketing activities and sponsorship projects helped to increase brand awareness and strengthen the company’s market position.
Mutual attention and respect are essential to success
Although the team has doubled in size over the last three years, the company has managed to keep staff turnover to a minimum.
“We always strive to show respect for people and the work they do. I believe that together with our highly self-aware and competent colleagues, our organization is strong and is steadily moving forward,” Dr. Vilius Kontrimas said.
Rivile has always had a strong sense of community. In recent years, more attention has been paid to team building strategies: the company is expanding its team by attracting highly qualified employees, and supporting various youth engagement and sports activities such as the checkers club Riešutas and Vilnius basketball club Rivile. In addition, employees are able to develop their skills in an internal Rivile University. Fostering a strong corporate culture is essential because strong communities cannot exist in organizations based on fear and control. Therefore, it is necessary to ensure that employees, customers, partners, shareholders and other interest groups feel good in the company.
Source: vz.lt
We released a new Rivile GAMMA v115 and took another important step – along with this version we introduce to you new GDPR and MSCAN modules, and a solution for e-commerce integration (EPI) with external e-commerce platforms and systems. Learn more and enjoy the following benefits:
The goods can be scanned using the accumulator. If the app is launched on a mobile phone or tablet, with a separate scanner that supports wireless technology. Read more information about the MSCAN module here
Those who want to improve their competence, self-assess the level of knowledge, all the while saving the time spent for learning and increasing job satisfaction, now have the opportunity to do it with a free online Rivile GAMA course! The material designed for Rivile GAMA software beginners covers the main software modules and provides the basic information of working with the software.
Everyone can now take the knowledge proficiency tests, register for exams and obtain Rivile GAMA specialist certificates. Tests are free of charge and the number of attempts is unlimited. The price of the exam is 100 EUR.
The free full-version online Rivile GAMA course is available for preparation – it is supplemented with HR and payroll materials, videos and tasks.
You can find all information and the free online Rivile GAMA course here
Let’s grow together!
Sincerely, Your Rivile Team
Those who want to learn Rivile GAMA or individual modules on their own now have the opportunity to use the beta version of the online learning course, free of charge. The course is filled with detailed material – descriptions, tasks and their detailed solutions, tests and video material.
The material is for Rivile GAMA beginners – it covers the main modules and provides basic knowledge of working with the software. The course can be used to organize initial training at companies, training centers and institutions.
We invite you to systematically study all of the lessons, read through the material, use the links, examine the problem solving examples, and try to complete the assignments on your own.
The free online Rivile GAMA course is available here.
At the same time, users are the best critics. We look forward to receiving your comments, questions and feedback at rivile@rivile.lt, indicating “Rivile Academy” as the subject.
The free online Rivile GAMA course will soon include material from the payroll and personnel module, lots of videos, special online tests, and the opportunity to get certified at special Rivile centers.
Sincerely yours,
The Rivile team
Dear customer,
During the lockdown, we are providing all services and products without any disturbances.
With the safety of you and the Rivile staff in mind, we are operating remotely and working as usual – consulting, programming, demonstrating, selling, installing and updating Rivile systems in a smooth, professional manner.
We understand that you are reorganizing your activities. Rivile can help:
If there is anything you need, please e-mail us at rivile@rivile.lt or call us at +370 5 2395535. If you are serviced by a Rivile partner, contact the partner directly.
Take advantage of this period to improve your systems and ensure rapid growth in the future. Our specialists are ready to help you!
Sincerely yours,
The Rivile team
We are thrilled to announce that UAB Rivilė is expanding – with UAB Advantes Technologies on board as a strategic investor, we are now entering a new stage of activity. Advantes Technologies and Rivile have decided to combine their energy and experience to become the unequivocal market leader in accounting, financial and ERP systems for small and medium-sized enterprises. Successful generational change is a great achievement for Rivile’s entire ecosystem.
Why we need to strengthen our forces. The market for accounting, financial and ERP systems in the Baltic States will be seeing four major developments:
· consolidation at the national/regional level
· strong product development with advanced technologies
· maximum task automation
· improved customer service
Only the strongest accounting, financial and ERP system companies will be able to adapt to these developments and secure a strong market position.
Rivile is one of the most popular accounting, financial management and ERP systems in Lithuania (according to a 2016 study conducted by UAB Informacinės Konsultacijos) – it is a stable and functional product that works well in both one-person companies and large corporations. It also has a nationwide network of partners and representatives, efficient data exchange systems, an excellent team of IT consultants, a stable financial position, and a nationally valued brand. More than 30,000 companies keep their records with Rivile GAMA and Rivile products have been mastered by more than 8,000 accounting professionals. In 2017, the company generated EUR 1.89 million in revenue and earned EUR 0.56 million in profit before tax.
Rivile’s shareholders are thrilled with the benefits for the company’s customers and employees: “We are confident that with the new team, we will ensure that we maintain a leading position, and all current and future customers can rest assured that they have chosen the best accounting, financial and ERP system. This means that we will continue to be a reliable partner and an attractive employer, and we will continue to play a part in the management of the company.”
Advantes technologies is an exclusive business performance improvement and automation company which can develop an integrated business strategy for customers, reorganize processes, implement IT systems and train people. The company plans to grow firmly and calmly in every way – organically, through strategic partnerships and acquisitions. According to CEO Vilius Kontrimas, “We see great opportunities to grow regionally, and later, with the right products – globally. Our upcoming products are expert systems based on artificial intelligence that are designed for better decision-making and process automation. Investing in Rivile is a strategic step for us. Firstly, it is a great privilege and responsibility to operate through the Rivile ecosystem, and we will definitely ensure cultivation and continuity of the entire ecosystem, and respect what has already been created. Secondly, this is a great opportunity, because Rivile’s products are the backbone of every company and will allow for seamless integration of all our services in order to make customers’ businesses more productive and more automated. We come with experience of how an ambitious market leader should work.”
Vilius Kontrimas is the founder and CEO of Advantes Technologies. Vilius’s main fields of expertise are: business strategy and development, productivity, sales, and project, innovation and technology management. Vilius previously served as Director of Infrastructure and Strategic Development – and later as Rector – at ISM University of Management and Economics. He has also developed and managed his own businesses. He spent the past four years working as Director of IT, Infrastructure, Sales and Organizational Development at Kesko Senukai. With Vilius at the helm, these businesses grew profitably and came out of the financial crisis of 2008-2009 smoothly. Vilius has a doctorate from KTU with a concentration in artificial intelligence; he also has a master’s degree in business management and administration and a master’s degree in civil engineering from VGTU, as well as a bachelor’s degree in information business from VU.
Advantes Technologies CEO Vilius Kontrimas emphasizes the benefits for the entire Rivile ecosystem: “The best growth is when success of all ecosystem participants grows: customers, partners, representatives, employees, investors. First of all, we will be able to offer each Rivile customer a solution for increasing business productivity and automation; we will also increase Rivile’s capacity and hire new employees.”
he next steps. Advantes Technologies and Rivile’s joint management will start in full on September 1, 2018 and will seek to significantly increase Rivile’s capacity over the course of 2019, fully launch the development of a new generation of products, and actively seek opportunities to consolidate similar companies. It is planned to meet representatives, partners, customers and other ecosystem participants to discuss joint action plans by September 1 . All existing contracts and arrangements will remain valid, and Rivile will continue its normal activities.
We believe that this will be a beneficial move. We would be happy to answer any questions you may have after reading this post. See you soon!
Marius Urbonas
Virgilijus Žutautas
Vilius Kontrimas
Contact details:
Mr. Vilius Kontrimas
E-mail: vilius.kontrimas@advantes.tech
LinkedIn: www.linkedin.com/in/viliuskontrimas/
