Crown World Mobility, a leading global talent programs management company based in Hong Kong, collaborated with Kyriba to overhaul its outsourced expense payments and treasury solutions – resulting in major cost savings and productivity gains.
Previously, the company’s payments were executed largely through manual processes based on spreadsheets and web-based electronic banking systems. This arrangement brought risk and compliance challenges, while lacking the scalability needed to meet client demand.
Crown evaluated multiple vendors and decided that Kyriba’s cloud-based solution was the only one which met its requirements.
After rolling the solution out to its clients, the company saw a number of gains:
- $1.7 million in non-productive client cost savings.
- $80 thousand in client cost savings in the first year resulting from the automatic selection of optimal payment methods.
- 90 percent reduction in the time needed to execute payments. The time taken to prepare, approve and transmit payments dropped from 3.5 hours to 20 minutes.
“Kyriba is integral to enabling us to become an entrepreneurial, automated treasury,” said Matthew Crockett, Director of Finance & Technology, Crown World Mobility, adding that Kyriba’s consultative approach “has proved invaluable throughout the project in supporting both operational and strategic objectives.”
Read the full case study with Crown World Mobility here.