SaaS leader unveils next generation of successful treasury strategy, to enable forward-thinking finance departments to optimize their cash, manage their risk and work their capital
LAS VEGAS – October 28, 2013 – Kyriba, the leader in cloud-based treasury management solutions, is launching Proactive Treasury Management (PTM) at the 2013 Association of Finance Professionals Annual Conference, being held at the Mandalay Bay Convention Center, Las Vegas, Oct 27-30. Proactive Treasury Management is a new set of solutions and methodology for treasury departments to better anticipate and plan for market volatility, regulation and fraud, as well as leverage opportunities for growth. By implementing PTM, organizations optimize their cash, manage their risk and work their capital more successfully.
PTM was developed in response to several recent changes within treasury: increased exposure to financial risk and fraud, continuing convergence and centralization of cash and liquidity tools and processes, and the growing need for treasuries to unlock deeper strategic value within the organization. Recent data has shown that 59 percent of CFOs see an increase in risk exposure compared to five years ago1, and 77 percent of North American organizations will have regional or global cash concentration centers by the end of 20142. Meanwhile, treasury teams feel the need to spend 50 percent more of their time than present on decision support and a third less time on transactional tasks3, in order to better support their businesses.
Kyriba established PTM in collaboration with its clients and industry thought-leaders, bringing together best-practice treasury solutions from some of the world’s largest and most successful organizations, into a single solution and methodology. The new approach will allow treasury teams to better adapt to the “new normal” of economic volatility, while delivering the visibility and control to increase business value for the organization.
“The past few years have seen huge changes in the environment facing treasury teams, and with Proactive Treasury Management, we are giving CFOs and treasurers both the technology and the methodology to succeed and add strategic business value,” said Jean-Luc Robert, chairman and CEO at Kyriba. “We have built a dedicated client success team of experienced treasury strategists, who will work directly with our global client base to optimize their cash, better manage their risk, and work their capital more effectively. PTM is the boost that the treasury management industry has been waiting for, in order to turn it from a manual process-driven cost center into a strategic partner which delivers real value to the organization.”
1. 2013 AFP / Oliver Wyman Risk Management Survey
2. 2012 gtnews Cash Management and Trade Finance Survey
3. The New Value Integrator – 2010 IBM Global CFO Study