-
Technology
-
Industry
-
Solutions
-
- ASSET MANAGEMENT
- CUSTOMER EXPERIENCE MANAGEMENT
- CYBER SECURITY
- DATA CENTER
- DOCUMENT MANAGEMENT
- ELECTRONIC DATA INTERCHANGE
- ENTERPRISE DATA MANAGEMENT
- ENTERPRISE RESOURCE PLANNING
- ENTERPRISE RISK MANAGEMENT
- ENTERPRISE-GRADE WEB DATA SOLUTIONS
- FACILITY MANAGEMENT
- FIELD SERVICE
- IDENTITY AND ACCESS MANAGEMENT
- INFRASTRUCTURE
- IT SERVICE MANAGEMENT
- MANAGED IT SERVICES
- PAYMENT AND CARD
- PROJECT MANAGEMENT
- SOFTWARE TESTING
- STORAGE
- VIDEO SOLUTIONS
- WORKFLOW
-
-
Platforms
-
Functions
- Leadership Perspectives
- Innovation Insights
- Research
- Magazines
- News
- CXO Awards
Kyriba: Reinventing Treasury Operations
The central Pacific Ocean plays host to the remote island country of Kiribati—straddling both the Equator and the International Date Line. It is the first land mass to see the light of each new day! An island that holds the inspiration for the Treasury Operation Reinventors naming their organization as Kyriba! So what’s the story behind the name? It all goes back to the early 2000s; before Kyriba was established, most treasurers were still reliant on manual processes to view their daily cash position, and as a result, it took several hours to deliver this fundamental information."With Kyriba’s cloud-based offering—Kyriba Pro—SMBs can now reap the same benefits that large companies garner"
By introducing their SaaS-based treasury management system, Kyriba changed this situation completely. Firms could now pull data automatically through the Kyriba portal, instead of requiring to manually log on to bank portals and compute balances on spreadsheets. What this means for the firm’s numerous clients is that as soon as they arrive in the office and log onto Kyriba in the morning, they have instant visibility into their organization’s global cash position—they can see the light, and thus the name!"
Delivered in the Cloud
The SaaS-based treasury management system from Kyriba is delivered fully in the cloud, which is used by over 1,500 corporate clients globally. Kyriba’s solution includes a full suite of treasury modules from cash management to hedge accounting, categorized extensively in five areas—Cash and Liquidity, Payments, Supply Chain Finance, Financial Transactions, and Risk Management. By merging the capabilities of the cloud technology and Software-as-a-Service deployment, the San Diego, CA-based firm allows its clients to optimize their treasury operations. Kyriba’s proactive treasury management approach delivers a set of methodologies that not only infuse visibility into financial decision-making, but also enhances control and compliance, and increases productivity. A modular and scalable solution is deployed by the firm— requiring only a fraction of investment as that of traditional legacy systems.
An effective cash flow is the fundamental foundation of treasury management, and Kyriba’s comprehensive cash management services and forecasting capabilities help financial institutions build and analyze yearly or even daily liquidity positions. With Kyriba, organizations can leverage multiple data-sources and extrapolate historical data, which allows them to achieve accurate cash forecasting.
“One way which we bring visibility to optimize cash is by leveraging the Kyriba Global Connectivity Hub, which allows global organizations to have their cash positions at their fingertips,” comments Jean-Luc Robert, CEO and chairman, Kyriba. Through Kyriba, organizations can connect their internal systems for reporting, payment, and confirmations in a cost-effective manner.
Recently, Kodak, the imaging pioneer chose Kyriba to enhance their financial technology. “Our business moves at a high speed, and we require a technology which will keep pace with our needs. The Kyriba solution will empower our global finance teams to better manage our treasury assets,” informs Bill Love, Treasurer and Director of Investor Relations, Kodak. Robert comments, “Global organizations are pressed to make strategic decisions about their financial assets and require 100 percent cash visibility to do so. We are thrilled to work with Kodak to strengthen their financial controls and achieve their vision.”
Kyriba also extends its treasury management solutions to Kyriba Mobile, a treasury application for the iPad and iPhone. “Our application allows clients to execute time-sensitive tasks on-the-go, without having to return to the workstation,” points out Robert.
Checking all the Boxes
The company’s TMS offering also includes trade solution modules that enable clients to optimize working capital and support payment programs. The buyers, suppliers, and financers are connected by this module on a single, integrated cloud platform, which optimizes working capital. Another module offered by the company is Bank Relationship Management, which tracks, manages, and reports critical bank detailsand delivers visibility into bank fees through powerful analysis. Kyriba Bank Relationship Management also provides a workflow that helps organizations gain internal control of the banking relationship processes. Through its easy and straightforward capabilities, Kyriba’s Bank Relationship Management software enables clients to control, manage, reduce their banking fees, and minimize fraud exposure.
Additionally, since the possibility of security breaches is a major cause of concern for financial executives, Kyriba works with best-of-breed security technology partners to deliver paramount security for its clients. With the firm’s solution, users can gain control of banking relationships, standardize payment approval processes, perform daily reconciliations, and efficiently comply with internal policies.
We are inspired by fees, and minimize fraud exposure. the trust our clients have in our secure, cloud-based cash and risk management solutions
Recently, Kodak, the imaging pioneer chose Kyriba to enhance their financial technology. “Our business moves at a high speed, and we require a technology which will keep pace with our needs. The Kyriba solution will empower our global finance teams to better manage our treasury assets,” informs Bill Love, Treasurer and Director of Investor Relations, Kodak. Robert comments, “Global organizations are pressed to make strategic decisions about their financial assets and require 100 percent cash visibility to do so. We are thrilled to work with Kodak to strengthen their financial controls and achieve their vision.”
Kyriba also extends its treasury management solutions to Kyriba Mobile, a treasury application for the iPad and iPhone. “Our application allows clients to execute time-sensitive tasks on-the-go, without having to return to the workstation,” points out Robert.
Checking all the Boxes
The company’s TMS offering also includes trade solution modules that enable clients to optimize working capital and support payment programs. The buyers, suppliers, and financers are connected by this module on a single, integrated cloud platform, which optimizes working capital. Another module offered by the company is Bank Relationship Management, which tracks, manages, and reports critical bank detailsand delivers visibility into bank fees through powerful analysis. Kyriba Bank Relationship Management also provides a workflow that helps organizations gain internal control of the banking relationship processes. Through its easy and straightforward capabilities, Kyriba’s Bank Relationship Management software enables clients to control, manage, reduce their banking fees, and minimize fraud exposure.
Additionally, since the possibility of security breaches is a major cause of concern for financial executives, Kyriba works with best-of-breed security technology partners to deliver paramount security for its clients. With the firm’s solution, users can gain control of banking relationships, standardize payment approval processes, perform daily reconciliations, and efficiently comply with internal policies.
In another instance, Aldes, a specialist in integrated solutions for indoor well being, lacked global cash visibility due to the use of piecemeal solutions. Unable to consolidate its treasury information and manage debts, Aldes approached Kyriba and was guided through every phase of the implementation: from revising its working methods to mapping its banking network, and streamlining its banking relationships. The ultimate goal of the customer was to improve operational control and minimize fraud. “Kyriba offered the key advantage of a single solution for cash management and bank reporting. The time savings and flexibility of a single solution provided reassurance to the existing team at Aldes,” informs Robert. For Aldes, the gain was twofold: they were able to expand their controls at the same time they also achieved greater awareness among subsidiary directors.
The firm’s solution is also dedicated to improve user experience and deliver proactive response to issues. Kyriba provides premium and extended support, which is a personalized “white glove” offering. Its Premium Support delivers extended services across the company’s global centers coupled with high levels of monitoring of a client’s environment. Organizations also benefit from comprehensive custom case analysis reports and have access to Kyriba’s highly-regarded support and collaboration portal, Kyriba Social, which is an online interactive community portal.
While the firm proffers a plethora of offerings with its SaaS-based platform—checking all the boxes of an organization’s treasury management practice—it also maintains cost-effectiveness. Owing to cost restrictions, mid-market companies have been compelled to stick to spreadsheets and standalone tools. “With Kyriba’s cloud-based offering—Kyriba Pro— Small and Midsize Businesses (SMBs) can now reap the same benefits that large companies garner, at an affordable price point,” adds Robert—hinting toward the cost-effectiveness of their solution portfolio. Kyriba Pro is a fully web-based solution, which addresses the cash and liquidity needs of midmarket organizations, while improving visibility and control. The product requires no hardware or software installation, comes with zero IT investment and offers anytime, anywhere access, security, and disaster recovery.
Journey down the Future Lane
2016 was a grand year for Kyriba; the firm gained 206 new logos from small, medium, and large marquee clients, such as American Express GBT, Eastman Kodak Company, raising more than $25 million from new investors. “We are inspired by the trust our clients have in our secure, cloud-based cash and risk management solutions, which empower finance leaders to protect their assets, and enhance their competitive position in the marketplace. The year ahead looks bright, especially as our partner community accelerates our growth across the globe,” adds Robert.
Firmly believing that cloud is the future of treasury management, Kyriba will continue to innovate on their cloud-hosted systems for improved business outcomes sharpening their focus on proactive treasury management and delivering enhanced treasury technology.
The firm’s solution is also dedicated to improve user experience and deliver proactive response to issues. Kyriba provides premium and extended support, which is a personalized “white glove” offering. Its Premium Support delivers extended services across the company’s global centers coupled with high levels of monitoring of a client’s environment. Organizations also benefit from comprehensive custom case analysis reports and have access to Kyriba’s highly-regarded support and collaboration portal, Kyriba Social, which is an online interactive community portal.
While the firm proffers a plethora of offerings with its SaaS-based platform—checking all the boxes of an organization’s treasury management practice—it also maintains cost-effectiveness. Owing to cost restrictions, mid-market companies have been compelled to stick to spreadsheets and standalone tools. “With Kyriba’s cloud-based offering—Kyriba Pro— Small and Midsize Businesses (SMBs) can now reap the same benefits that large companies garner, at an affordable price point,” adds Robert—hinting toward the cost-effectiveness of their solution portfolio. Kyriba Pro is a fully web-based solution, which addresses the cash and liquidity needs of midmarket organizations, while improving visibility and control. The product requires no hardware or software installation, comes with zero IT investment and offers anytime, anywhere access, security, and disaster recovery.
Journey down the Future Lane
2016 was a grand year for Kyriba; the firm gained 206 new logos from small, medium, and large marquee clients, such as American Express GBT, Eastman Kodak Company, raising more than $25 million from new investors. “We are inspired by the trust our clients have in our secure, cloud-based cash and risk management solutions, which empower finance leaders to protect their assets, and enhance their competitive position in the marketplace. The year ahead looks bright, especially as our partner community accelerates our growth across the globe,” adds Robert.
Firmly believing that cloud is the future of treasury management, Kyriba will continue to innovate on their cloud-hosted systems for improved business outcomes sharpening their focus on proactive treasury management and delivering enhanced treasury technology.
