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Kyriba Reports Strong Results for Third Quarter Fiscal 2009 |
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Treasury Management Solution Contract Value Increased 25%
San Diego, CA – October 1, 2009 - Kyriba Corporation, the leader of on-demand cash and treasury management solutions, announced today that it accelerated revenue growth through the first three quarters of 2009 and expects to surpass its previous record for annual revenue achieved in 2008. “The difficult economic environment causes companies to seek greater visibility into cash positions and control over managing liquidity,” said Kyriba’s CEO, Jean-Luc Robert. “Our focus on delivering the information and insights that financial professionals need is helping our customers weather the storm of the global financial crisis.”
During the nine-month period ended September 30th, Kyriba added 50 clients globally. Total contract value for the same period increased 25 percent over 2008, fueled both by Kyriba’s expanding global footprint and increased adoption of add-on modules by its client base.
Kyriba continues to see strong worldwide demand for robust cash and treasury management solutions, particularly among those companies that value the ease-of-use, rapid implementations and lower up-front costs inherent in the Software as a Service (SaaS) delivery model.
Notes Robert, “Kyriba’s core focus on cash and liquidity management combined with the SaaS deployment enables companies to effectively safeguard their assets and maximize cash performance more readily than was possible just a few years ago. Our significant expansion in this current economic climate is surely a testament to the solutions we provide and the commitment of Kyriba’s dedicated and experienced professionals.”
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 Media
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