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.