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Kyriba has Announced a String of Wins for its SaaS Treasury Management System |
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Corporate Financial Systems Journal, October 2008 - Kyriba has announced a string of North American wins for its SaaS
treasury management system. The wins have come at a diverse range of corporates,
including utility company, American Water Works Company; Canadian
self-unloading bulk carrier firm, the CSL Group; retirement community developer,
Erikson Retirement Communities; not-for profit electricity distributor,
Mid-Carolina Electric Cooperative; and tobacco group, Reynolds
American.
According to Kevin Peak, Kyriba’s North American sales manager, the wins came
from a number of sources including company prospecting and RFPs. In the majority
of these deals the system is replacing Excel spreadsheets. ‘In only one of those
cases is the company moving off another treasury workstation system,’ says
Peak.
These deals were all signed within the last few months, with the
oldest being around two and a half months old. This is something Peak is
particularly proud of. ‘Summer is typically a quiet time with not a lot of
activity, but we’re actually seeing a lot of companies who are going through RFP
processes, or we are in contract phase with now who are making the move to a
solution like ours’.
The companies are at various stages of their
implementations, with none having gone live yet. Peak puts this down to factors
outside the vendor’s control. ‘It’s a pretty rapid implementation process on our
side to get the functionality up and running, one of the things that always
happens is it’s a little bit slow at the outset to get the bank connections up
and running.’
The vendor has also just set up a new office in Hong Kong.
‘We realised companies around the world are setting up treasury operations that
are in Asia, which is relatively new. They have cash needs there, so we really
wanted to be keeping up with the game to set up a group over there to support
our clients.’ The initial rationale is to support Kyriba’s client base that have
operations in Asia, but it will also look to sell to companies in Asia and
Australia. |
