Kyriba Identified as Best-in-Class Finance Vendor for Supply Chain Finance
Kyriba has been recognized as a leading-class finance vendor and supplier of supply chain finance solutions in Aite Novarica’s (“Aite”) recently published Impact Report, ‘Aite Matrix: Supply Chain Finance’. Kyriba earned this distinction by excelling across various criteria used in this SCF vendor survey, assessment and report. The 78-page report outlines Kyriba’s strengths and features across:
- Coverage of SCF instruments portfolio
- Clearly defined strategies in deploying the technology platform for SCF
- Global reach
- Readiness for innovation
Kyriba was assessed against other supply chain finance vendors across key components of leading SCF criteria to include vendor stability, client strength, client service and product features. Kyriba excels at these criteria because we have experience working with customers and stakeholders across the SCF landscape. Our competencies and leading-practice focus keep us close to new, emerging opportunities to innovate and internally develop valued capabilities for our customers and partners.
Strongest Vendor Stability
Kyriba is identified as the leader in supply chain finance vendor stability because of our strong financial position as well as our long-standing and holistic solution delivering the expansion from treasury management capabilities to a wider spectrum of solutions that position us as a platform provider for transaction banking features. Kyriba’s strong integration with ERPs, ancillary systems for procurement, market data, credit risk and partnerships provide our customers with confidence and capabilities beyond the normal dynamics of only SCF. Our comprehensive solutions can expand and offer more capacity for integrations across ERPs, ancillary systems and the financial institutions that comprise the SCF marketplace.
Client Service Strength
Results from the report show that Kyriba is a strong provider of not only solutions, but also of service to our customers. We are proud of our Professional Services teams, Partners and Support teams that ensure delivery of SCF solutions across ever-increasing demands and complex technologies. We work to serve large, mid-size and small enterprises across varied industries, financial providers, funder financial institutions, companies, and implementation service providers.
Valued, Feature-Rich Product Portfolio
As a supply chain finance vendor, our product offerings are continually innovating with a new release every month to deliver a strong platform with a portfolio of SCF instruments that deliver value to global large corporates and SMEs.
In the report, Aite outlines key barriers and challenges to the adoption of SCF. Kyriba, as an identified leader in the SCF market, addresses these challenges head-on with clear expertise and award-winning solutions to solve for challenges that have stymied other solutions providers:
|Challenges to SCF Adoption||How Kyriba Addresses these challenges for its Customers|
|Onboarding requirements:||Kyriba’s award-winning supplier onboarding solution helps alleviate the administrative process to set up and run an SCF scheme and saves time and effort, i.e. cost for the different market participants. The main costs of setting up an SCF scheme relate to change management for buyers and sellers and Kyriba excels in this space at saving money and effort for customers. The whole process is supported by our dedicated supplier outreach team.|
|Unclear accounting rules:||Kyriba delivers clear reporting dashboards and business intelligence along with subject matter experts constantly on watch for the latest developments. We keep our customers close to the always-shifting sands of the regulatory desert. Our tools and team give confidence over the lack of clarity of accounting treatments of SCF programs at international levels.|
|Lack of awareness and understanding of SCF techniques:||The lack of familiarity among small and mid-sized enterprises (SMEs) with SCF solutions is linked to issues related to financial literacy and lack of human and financial resources. Kyriba helps SMEs and large MNCs, alike navigate the operational and strategic aspects of SCF.|
Kyriba’s Working Capital Solutions were also recently awarded by Global Finance Magazine as the 2021 global winner of Best Supplier Enablement for its automated and transparent supplier onboarding operations. In the past 12 months, Kyriba facilitated more than $7 billion in early payments across 1.5 million invoices to over 50,000 suppliers in 50 countries. In 2021, we expect financing volumes to exceed $10 billion–a more than 40% increase over 2020.
For more information about Kyriba’s Working Capital Solutions, visit Kyriba Working Capital