Adoption of Kyriba Cloud-Based Treasury Management at transcosmos
February 27, 2017
Accelerating overseas business development focused on the Asian market by strengthening cash flow monitoring systems on a global scale
NEW YORK, February 27, 2017--Kyriba Japan Co., Ltd. (Japanese subsidiary: Shibuya-ku, Tokyo / Yuichiro Kuwano, Managing Director; referred to as "Kyriba"), the Japanese subsidiary of the U.S. company Kyriba, a leader in cloud-based treasury management solutions, announces that transcosmos, Inc. (Shibuya-ku, Tokyo / Masataka Okuda, Managing Director and COO; referred to as "transcosmos") has adopted Kyriba Enterprise as their global treasury management system.
transcosmos is a provider of global business process outsourcing (BPO) services offering services worldwide, centering on the U.S., Europe and the Asia-Pacific region. The company is looking to further accelerate their global development, focusing on the Asian market. transcosmos was in need of a treasury management solution that would be consistent with their strategy, and strengthen their cash flow monitoring and control functions, as part of the establishment of their global operations. The first step was to optimize the working capital while visualizing the bank transactions and cash forecasting associated with each subsidiary, linking them to existing approval and accounting systems, and implementing monitoring and checking systems. transcosmos compared treasury and cash management solutions fulfilling these requirements and finally selected Kyriba, due to Kyriba's robust business operations, and transcosmos' high value placed on Kyriba's substantial global and domestic support systems.
Hitoshi Honda, Executive Managing Director and Chief Financial Officer, transcosmos, stated:
"In addition to having been adopted by over 1,500 companies worldwide, including in the United States, Kyriba Enterprise is also used by major global companies in Japan. A decisive factor in adopting Kyriba is its cloud-based solution, making it very flexible and easy to implement throughout Asia and subsidiary companies. First, we will focus on the treasury operations in China, the Philippines and Vietnam, where financial risk is high, then we want to expand the use of Kyriba to all of our locations, both in Japan and overseas. We are also looking into collaboration with the aim of expanding our BPO services."
Benefits that will be realized by adopting Kyriba Enterprise:
- Local support in Japan with Japanese speakers;
- Scalability that allows future enhancements to payment operations in the mid-term, and treasury operations thereafter;
- Ability to respond globally, while also maintaining the capability to link with banks and support systems located regionally.
About transcosmos, Inc.
Focusing on Asia with 170 locations in 31 countries worldwide, transcosmos pursues operational excellence, providing support services that both reduce the cost of companies' business processes and increase their sales. Along with the expansion of e-commerce markets on a global scale, transcosmos also provides a global one-stop e-commerce service delivering excellent products and services to consumers in 49 countries. In response to changes in the business environment, transcosmos aims to be a "Global Digital Transformation Partner", using digital technology to support client companies' innovations.
For more details, please visit http://www.trans-cosmos.co.jp/english/
About Kyriba Corp.
Kyriba is the global leader in cloud-based treasury, cash and risk management solutions, delivering Software-as-a-Service (SaaS) financial technology to corporate CFOs and Treasurers. More than 1,500 global organizations use Kyriba to enhance their global cash visibility, improve financial controls, and increase productivity across their cash and liquidity, payments, supply chain finance and risk management operations. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Singapore, Dubai, Hong Kong, Shanghai and Rio de Janeiro.
To learn how your organization can increase the strategic function of its financial professionals, contact us at [email protected].
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