Because cash is always king.
For two decades I’ve worked with pioneering software companies that have challenged every facet of the industry: How we develop software, how we monitor the performance of that software, how we develop new products, and how we manage customer experiences. The challenge has always been the same: To create a unique value proposition that executives see as vital to the strategic interests of their global businesses.
Some people call this kind of work category creation, others call it thought leadership. I see it as both. It’s intoxicating work, and the opportunities to do it are rare.
I’ve been fortunate to be part of game-changing categories like Open Source with Red Hat, Product Lifecycle Management with PTC, Customer Experience Management with Sprinklr, and Cloud Monitoring with SignalFx/Splunk. And now the opportunity to create a new and valuable category has presented itself once again. I’m honored to be working with Kyriba to help executives discover new and better ways to manage liquidity. Cash is and always has been the lifeline of every business.
Volatility and Liquidity
It wasn’t so long ago that CFOs found it more difficult to hire software developers than to access money. The coronavirus pandemic changed that in a hurry. Overnight, every CEO, CFO and board of directors had to be focused on one thing: preserving cash in a volatile new world.
But it’s not just about the global pandemic. There are upcoming elections, global realignments, superpower tensions, supply chain disruptions, emerging digital currencies, and more.
CFOs have told us they need better ways to manage their liquidity, including new technologies. Yes, they have ERP systems to manage most aspects of corporate finance. But cash – the lifeblood resource of any organization – has been left behind.
According to PWC, $1.2 trillion of liquidity is currently trapped in company balance sheets. More than 80 percent of companies face payment fraud attempts multiple times a year. And more than $11 billion of foreign exchange losses are expected in North American companies this year. The list of challenges goes on and on. And it’s getting worse. As companies scale with SaaS, corporate teams have become empowered to more autonomously instruct cash payments and collections. These practices escalate liquidity risk. According to PWC, at least 25 percent of cash held by companies is not visible to finance teams on a daily basis.
In the absence of an enterprise approach to liquidity management, many companies continue to rely on traditional accounting processes to make strategic decisions related to investments and planning. They are assuming they have continuously available liquidity, despite frequent and severe macro-events that regularly challenge that view.
That changes with Kyriba.
Kyriba offers the only complete suite of Enterprise Liquidity Management capabilities in the market. Our cash-centric approach enables corporations to actively manage their liquidity by controlling usage, maximizing returns, and delivering insights to support strategic decisions. We call these our Active Liquidity Management (ALM) Solutions.
● Active Treasury – ‘see liquidity’
● Active Payments – ‘move liquidity’
● Active Risk Management – ‘protect’ liquidity and
● Active Working Capital – ‘optimize’ liquidity.
Our products enable customers to actively manage liquidity through an end-to-end, cash-first approach. It’s a great technology that can make a huge difference for every global enterprise. I look forward to helping Kyriba tell that story.
Read the press release announcing Tom’s appointment as Kyriba’s Chief Marketing Officer.