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FXpress and Kyriba Partner to Broaden Best-of-Breed Treasury Offering |
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New York, NY - June 15, 2009 – FXpress, the market leader of risk, exposure, and compliance management solutions, and Kyriba, the leader of SaaS cash and treasury management solutions, today announced an alliance aimed at meeting the rising demand for transparency and risk management across cash and treasury operations. With this joint solution, financial managers of domestic and multinational organizations will achieve total visibility on their cash flows enterprise-wide and facilitate a complete, consolidated view of exposures to implement more effective risk management strategies complying with Sarbanes-Oxley, IAS39, FAS 133 and FAS 157 rules and standards.
The combined solution is expected to attract existing clients of both companies as well as drive new business to a unique “best-in-class” offering.
“FXpress is proud to have delivered leading financial risk management solutions covering interest rate, foreign exchange, and commodity exposures to the marketplace for several years under our brand of FIRSTTM Treasury Risk Management and Accounting SaaS”, stated Robert Richardson, CEO of the FXpress. “Joining forces with Kyriba now enables our mutual clients to obtain a complete picture of cash and liquidity across the organization and leverage that information for more effective management of market risks and accounting standards. The best tools are available to safeguard the valued assets of most all organizations.”
Kyriba’s SaaS platform allows for simple and efficient integration with the FXpress system. “In today’s fast-moving financial landscape, companies need solutions that can be implemented and utilized quickly and cost effectively to achieve cash visibility. Our SaaS deployment model guarantees a high level of automation and enables structured workflows impacting operational efficiencies, security and control. The alliance with FXpress greatly expands these capabilities to include front, middle and back office activities associated with hedging, risk management, and accounting, thereby completing the circle for corporate treasury”, confirmed Jean-Luc Robert, CEO of Kyriba.
About FXpress
Premier corporations choose FXpress as their technology partner to simplify and automate core treasury processes. FIRST™ Treasury Risk Management and Accounting Software, the company’s product offering, enables the management of exposures, derivatives and hedge accounting for FASB and IAS compliance via Software-as-a-Service deployment. FXpress provides a secure, easy-to-use software platform, backed by consulting services that meet the workflow and compliance requirements of today's treasury professionals. Founded in 1993, FXpress Corporation is headquartered outside of Philadelphia. For more information about FXpress products and services visit www.fxpress.com
Media contact: Sarah Butz, FXpress Corporation, 610.617.7988x241, sbutz@fxpress.com
About Kyriba Corporation
Kyriba is a global provider of treasury solutions delivered under the Software-as-a-Service (SaaS) model. Customers utilize the online system to automate and better control their daily cash management tasks, including centralization of consolidated bank balance and transaction reporting, payments, cash positioning/forecasting, automated general ledger posting and investment, debt and FX portfolio reporting. The system automatically collects bank statements and facilitates automated cash, bank, and ledger reconciliations through Kyriba’s daily bank connectivity monitoring service. The solution also meets stringent Sarbanes-Oxley 404 audit trail, workflow, and control requirements while providing seamless integration with third-party applications. Founded in 2000 and headquartered in San Diego, Kyriba has offices in New York, Paris, Milan, Hong Kong, and Rio de Janeiro serving a global client base of more than 7,000 subscribers across several hundred corporations, insurance companies, and financial institutions. For more information, visit www.kyriba.com
Media contact: Leslie Regino, Kyriba Corporation, 212-784-5584, lregino@kyriba.com
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