Kyriba’s Payments module offers a sophisticated dashboard-driven workflow to manage your internal payment approval and release procedures, leveraging Kyriba’s Bank Connectivity Hub. Kyriba connects host-to-host, via SWIFTNet, and through regional banking networks for transmission of payments in a secure and automated manner.
Third Party Payments
All types of payments, including SEPA compliant, are supported with acknowledgements received from the bank to ensure that your entire process can be managed within Kyriba. Payments can be initiated as free-form, by template, via import from ERP, or through integration with other Kyriba modules such as Netting, the Financial Transactions, or Supply Chain Finance.
Kyriba’s Payments module also includes capabilities to support the implementation of Payment Factories so that organizations can centrally manage the Payment Approval workflow and straight through processing to the banks from Kyriba. Kyriba fully integrates with internal ERP systems so that A/P payment requests can be automatically imported and routed for the appropriate approvals within the structured workflow. Acknowledgements from the bank are retained in Kyriba and sent back to the ERP to complete the cycle.
Learn how Kyriba provided IPG with payment factory support to manage all disbursement activity on a single platform - download the success story.
Kyriba’s Netting module optimizes Intercompany and Payment activity through multilateral payables-based or receivables-based invoice netting. Invoices are typically imported from the ERP or other internal sources. Netting simulations can be executed allowing all participants to review and amend their respective positions, with disputes identified and managed via an approval workflow. Intercompany balances and, if desired, settlement transfers are updated via the Intercompany and Payments modules.
Kyriba provides a centralized tool to build and analyze global cash forecasts by day, week, month, or year. Leveraging multiple sources of data – including repetitive items, import of ERP data, integration with other modules, and extrapolation of historical data – Kyriba customers can extend the accuracy and horizon of their cash forecasting.