SaaS treasury management leader to leverage CGI Trade360’s multi-bank modules for bank guarantees and letters of credit
DUBAI, UNITED ARAB EMIRATES – September 17, 2013 – Kyriba, the leader in cloud-based treasury management solutions, and CGI (TSX: GIB.A) (NYSE: GIB) announce the integration of CGI’s market leading trade solution, CGI Trade360®, into the Kyriba Enterprise platform. The alliance, announced at the Sibos conference, taking place in Dubai, marks the first phase of increased cooperation between the two companies.
Corporate treasurers and finance teams are increasingly demanding a comprehensive view and control over their cash management and trade activities and exposures. To meet this need, Kyriba has leveraged CGI’s global trade solutions to extend its treasury and risk management platform. With the integration of CGI Trade360, Kyriba will offer a multi-bank trade finance solution to manage the issuance and tracking of bank guarantees as well as standby, import, and export letters of credit. The newly integrated solution will meet clients' complete workflow needs, leveraging Kyriba’s connectivity hub for multi-bank SWIFT connectivity.
“International trade, especially in emerging markets, has created additional trade finance requirements for treasurers and CFOs. The need to manage trade finance and cash management in a single platform has become a core requirement for our clients,” said Edi Poloniato, SVP strategy and corporate development of Kyriba. “With the introduction of Kyriba’s trade finance solution, powered by the integration of CGI Trade360, our clients will be able to support all finance requirements for open account trade and trade finance programs, through the use of Kyriba’s supply chain finance and now trade finance solutions.
“The convergence of cash management and trade finance has been a long-standing need for corporate treasurers who struggle to create and manage a timely and comprehensive financial view of their companies,” said Steve Starace, vice president, Financial Solutions Group of CGI. “Incorporating CGI’s market-proven trade finance capabilities with Kyriba’s cash management solution helps clients significantly improve cash forecasting and facility management via one integrated solution.”