June 1, 2015
Dubai headquarters opens to bring SaaS Proactive Treasury Management to the Arabian Peninsula, Lebanon and Egypt
DUBAI, June 2 2015: Kyriba, the global leader in cloud-based Proactive Treasury Management, has launched its Middle East headquarters, based in Dubai. Kyriba Middle East FZ-LLC, a joint venture with Surety Computer Systems LLC., will bring Kyriba’s award-winning, cloud-based treasury management platform to organizations across the Middle East.
Kyriba is the world’s fastest-growing treasury management software vendor, according to leading industry analyst, IDC1. The company serves 1,000 clients in more than 100 countries worldwide. Kyriba’s solution is used by some of the world’s largest and most respected brands in industries such as oil and gas, financial services, and retail, enabling organizations to optimize their liquidity, manage their financial risk and better work their capital.
“We have seen a lot of pent-up interest from companies across the Middle East who are looking to manage their cash and treasury in a more strategic, process-driven manner,” said Jean-Luc Robert, chairman and CEO of Kyriba. “With the establishment of Kyriba’s Dubai location, we look forward to both providing a higher level of service to our existing clients, as well as bringing the benefits of SaaS-based treasury management to treasurers and CFOs across the region. I am confident that we will replicate the success that we have seen in our other expansion markets across Europe and Asia.”
“Dubai and the U.A.E. are the home to some of the world’s largest and most successful companies, but it is an underserved region when it comes to next generation treasury management,” said Roger Baroutjian, managing director of Kyriba Middle East FZ-LLC and executive managing director of Kyriba’s joint venture partner, Surety Computer Systems. “We see this as an excellent opportunity for Kyriba to satisfy large organizations’ treasury teams’ need to improve their processes as well as providing more strategic insight into company-wide financial decisions. As the leading cloud player in the space, Kyriba has a proven global track record and is clearly the best partner for us in this venture.”
1. IDC report Worldwide Treasury and Risk Management Applications 2014–2018 Forecast and 2013 Vendor Shares (doc #251539, September 2014)
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