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OMS Group’s Use of the Kyriba Solution Aided and Optimized Their Cash Control |
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Paris, May 4, 2010 - The OMS Group, world leader in premium glass bottles for perfumery, cosmetics and pharmaceutical uses, has used the Kyriba solution to manage its cash since April 2008.
In early 2008, Stephane Nenez assumed his duties as Treasurer of SGD Group, with a mission to establish a workflow for activities and cash funding, ex nihilo (out of nothing). Located at the group's headquarters in La Defense, the Treasury Group is comprised of 6 people that oversee cash management, financing, risk management (i.e. rates, foreign exchange, energy, etc.), corporate finance and credit management for subsidiaries in France, the United States, Brazil, Spain, Germany, Russia and China.
In the first quarter of 2008, an agenda was launched by the Treasury Group to select a cash management solution. The breadth and richness of Kyriba’s functionality as well as its SaaS (Software as a Service) model exceeded expectations for the group based on its’ ease of deployment, and the ability to release all of his team’s contingencies related to maintenance and backups. As a result, the Kyriba solution was selected as OMS’s Treasury Workstation and started production in April 2008.
In early 2009, the turbulent banking environment and financial instability forced the OMS Group to adapt its internal processes for the organization’s cash management throughout the entire Group. "With the Kyriba solution, we were able to focus fully on our core business: managing our cash," reflected Stephane Nenez.
Today, both management and the daily monitoring of cash and funding by the Task Group have been enhanced and been key to the service of ambitious investment and improvements deployed across OMS. "The Kyriba solution helps us clearly achieve this goal," affirmed Stephane Nenez.
The OMS Group is currently conducting a reassessment of SEPA and the post-Etebac world. Kyriba provides several choices appropriate to their needs. "With its integrated communications hub offering both SWIFTNet Service Bureau and EBIC, Kyriba is ready to assist OMS in their contemplation of this dilemma, "said Patrick Godet, Director of Account Management for Europe.
About OMS Group
The French group, SGD, (formerly Saint-Gobain Desjonqueres), is under the direction of Thierry Dillard, CEO, as the world leader in glass bottles for perfumes, cosmetics and pharmacy. It annually produces over 3 billion bottles in 2008 and has achieved a turnover of 631 million Euros. With a skill developed over a hundred years ago in France at Mers-les-Bains and Suchy-en-Brie, SGD now has 12 production sites and 10 sales offices throughout France, Germany, Spain, Italy, Brazil, China, Russia and the United States. The firm employs 6,000 people worldwide, half in France. OMS provides a range of tailored solutions to the biggest names in High-end markets. The group’s expertise rests in quality, innovation and sustainable development. In 2009, Dillard revived the glass baby bottle on the French market and created the first industrial bottle in the world that is 100% recycled and recyclable.
About Kyriba
Kyriba is a global provider of on-demand treasury management solutions. Customers utilize the online system to automate and more effectively 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
Contact: Leslie Regino, Kyriba Corporation, 212-784-5584, lregino@kyriba.com
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