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Alpitour Group Completes Kyriba Implementation |
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Milan, Italy – February 25th, 2008 - Kyriba Corporation, the leader of web-based cash and treasury management solutions, today announced that Alpitour Group, the Italian leader in the tourism market, has successfully implemented the Kyriba solution in order to optimize cash management for all of their subsidiaries.
With the implementation of the Kyriba SaaS solution, the Alpitour Group set up a system of ZBA account to help them consolidate account balances at the parent company level. Kyriba’s In-house Banking functionality enables the automatic generation of wires and the calculation of interest amongst the Alpitour Group entities. The banking activity is exported to the Group’s ERP system on a daily basis. The second phase of the project has begun, with deployment of the platform to the various entities of the Group, with the goal of building an effective cash forecasting process. With the users of the Group sharing a single application and database the Alpitour Group will be able to consolidate all of its future positions.
Enrico Rao, Head of Finance and Treasury of the Alpitour Group, declared, “Kyriba’s treasury management solution is very flexible. There is no software or hardware to install since it is based on a platform that is already “up and running”, so it makes it possible to obtain results after only a few weeks. The SaaS model also allowed us to avoid any capital costs for hardware, software licenses & maintenance fees, and upgrades to the application. From an operational point of view, we have frequently updated intra-group bank positions, as well as the ability to access and use the system via Internet browser. Lastly, having our information in a centralized database improved the quality and control of the data, which will make it possible to gain management control of operations throughout the Group.”
“The choice of Kyriba’s on-demand platform by the Alpitour Group attests to our implementation and distribution capacity in treasury services for both Italian and global groups. We are pleased to take part in improving organizational operations and productivity, at a low cost, for a group such as Alpitour” adds Simone Castronovo, Manager, Kyriba-Italy.
About Alpitour
The Alpitour Group, Italian leader in tourism is composed of 6 Businesses:
Tour Operators: Alpitour; Francorosso; Viaggidea, Volando, Karambola; Villaggi cheer.
Aviation: Neos.
Hotel & Resorts: Alpitour World Hotels & Resorts
Travel Agents: WelcomeTravel Group
International Incoming Network: Jumboturismo
Incentives & Events: Incentive Francorosso
www.alpitourworld.it
About Kyriba Corporation
Kyriba is a leading provider of Treasury solutions delivered under the Software as a Service (SaaS) model. Customers use the automated online system to better control their daily cash management tasks including bank balances, transaction reporting, payments, cash positioning / forecasting, automated general ledger posting and investment 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 and provides seamless integration with third-party applications. Founded in 2000 and based in San Diego, New York, Paris and Rio de Janeiro, Kyriba serves a global client base of more than 130 corporate treasuries, insurance companies and financial institutions.
Media contact:
Leslie Regino, Kyriba Corporation, 646-378-2131, lregino@kyriba.com
For more information, visit www.kyriba.com
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