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San Diego, June 1, 2005/PR Newswire/ -- Kyriba Corporation, the market leader in web based on-demand cash management and treasury solutions, today announced that Interpublic Group (NYSE: IPG), one of the world's leading advertising conglomerates, is implementing Kyriba’s web-based cash management platform.
IPG selects Kyriba Corp’s ASP Treasury Workstation For their Global Cash & Liquidity Management Platform.
San Diego, June 1, 2005/PR Newswire/ -- Kyriba Corporation, the market leader in web based on-demand cash management and treasury solutions, today announced that Interpublic Group (NYSE: IPG), one of the world's leading advertising conglomerates, is implementing Kyriba’s web-based cash management platform.
Interpublic is currently deploying the Kyriba ASP (Application Service Provider) treasury workstation solution throughout their entity structure which will bring over 250 physical entities and 300 users on to a common global cash & liquidity management platform. The deployment is currently focused on North America but will soon integrate entities in the Americas, Europe and Asia. Kyriba is replacing several decentralized applications and processes at Interpublic with seamless access to a single application backed by a unified database.
Interpublic is also implementing the Kyriba Communication Hub which manages bank transaction and balance consolidation globally, automating the collection of bank data from over 100 banks internationally. In addition to Kyriba’s management of inbound transactions, Interpublic will utilize Kyriba’s robust centralized payment functionality and outbound transaction management.
Users at Interpublic access all of the Kyriba’s features via an Internet browser and because Kyriba is a multi-lingual solution, users can work in their local language. Core features used by Interpublic include global consolidated cash positions, distributed cash reporting, bank fee management and centralized cash accounting. Other areas of the Kyriba system that will be used by Interpublic include global forecasting, automated cash reconcilement, bank resolution / signatory management and intercompany deposit & loan management.
Robert Williams, Director, Global Treasury Operations of Interpublic said, "The Kyriba solution is well suited to a complex organization like Interpublic. Kyriba's ASP orientation and ownership of bank connectivity management allows our treasury professionals to focus on core treasury activities and on being more strategic. Having visibility into our global operations without a long difficult implementation is of great value to Interpublic."
“While Kyriba can be implemented in organizations of all sizes, the rapid global deployment throughout Interpublic’s large and complex global entity structure demonstrates the flexibility and power of Kyriba’s platform. We are pleased to partner with Interpublic to help achieve greater operational efficiencies, organizational communication, profitability and cost savings," said Jean-Luc Robert, CEO of Kyriba.
About Interpublic:
Interpublic is one of the world's leading organizations of advertising agencies and marketing-services companies. Major global brands include Draft, Foote Cone & Belding Worldwide, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe Worldwide, MAGNA Global, McCann Erickson, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Deutsch and Hill Holliday.
About Kyriba:
Kyriba empowers customers to achieve an economic advantage with treasury solutions that enhance visibility and operational control. Over 150 corporate clients, including Interpublic Group of Companies, Commerzbank, Colas S.A., Ferrero, and Peugeot use Kyriba solutions globally. As the market leader in real time, web based on-demand Cash Management, our affordable tools and services put our customers in control of their liquidity, forecasting and treasury management needs. Kyriba enables its customers to meet Sarbanes-Oxley 404 audit trail workflow and control requirements. For more information, please visit www.kyriba.com.
Contact for Kyriba:
Jennifer McCarthy, Kyriba Corporation, jmccarthy@kyriba.com 858.764.2458
Contact for Interpublic:
Tom Cunningham, Interpublic, tdcunningham@interpublic.com 212.704.1326
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