Cloud Leader Expands Partner ‘Hard Deck’ to 1 Billion (local currency equivalent) for North America, United Kingdom, France and Japan; Will Sell Exclusively Through Partners Across the Rest of the Globe
NEW YORK, February 21, 2018 – Kyriba, the #1 global provider of cloud financial management solutions, today announced major new partner incentives designed to help global partners achieve first-year profitability, while driving strong recurring revenue growth for their organizations. The upgrades include a generous revenue sharing model; expansion of the partner-exclusive ‘hard deck’ to companies with revenue under 1 billion (local currency equivalent); and an enhanced monetization strategy to allow partner involvement in 100 percent of deals. The announcement comes on the heels of a record growth year for Kyriba, including gaining 230+ new enterprise clients and being recognized by IDC as the category leader for cloud treasury and risk management applications.
“Kyriba is delivering a game-changing cloud opportunity this year for global partners who want to gain early access to a fast-growing market,” said Karthik Manimozhi, EVP Worldwide Alliances and Channels Sales, who oversees the company’s PartnerSURGE program. “By the end of 2018, Kyriba projects its partner business will have achieved a 188 percent three-year annual growth rate (CAGR), which far outpaces the high-growth SaaS category.”
Kyriba’s Partner Opportunity
- Unparalleled revenue sharing. Qualified partners in the highest tier can earn up to 40 percent of bookings in the first year, and 20 percent of recurring revenue for the life of the contract. Qualified partners will also get first right of refusal for 100 percent of revenue streams covering professional services and value-added services.
- An expanded 1 billion customer hard deck. In North America, United Kingdom, France and Japan, the hard deck – the amount set aside exclusively for partners to handle – has been expanded to companies below 1 billion (local currency equivalent) in revenue, while every other region will be sold exclusively through partners.
- Strong investment in partner protection. Kyriba has established very clear rules of engagement with its own direct sales team to avoid potential conflict. In addition, Kyriba continues to make strong, double-digit investment in research and development to expand its global market leadership and fuel innovation.
- Comprehensive partner training and onboarding. Kyriba is delivering world-class product training and onboarding, as well as ongoing shadowing in the field, to ensure that partners are able to provide the highest levels of service to joint customers.
- Additional revenue opportunities. Kyriba will make all global direct deals available for partner implementation, thereby creating an opportunity for partners to participate in 100 percent of Kyriba’s continued rapid growth.
Kyriba now has more than 1,800 clients globally, including 65,000 active users in 100 countries. The company achieved a 32 percent year-over-year increase in global subscription fees last year, including 43 percent growth in North America. In September, 2017, Kyriba announced a $45 million strategic investment led by Sumeru Equity Partners, a leading financial technology venture capital firm.
About Kyriba Corp.
Kyriba is the #1 provider of cloud treasury and financial management solutions. Kyriba empowers financial leaders and their teams with award-winning solutions for cash and risk management, payments and supply chain finance. Kyriba delivers a highly secure, 100% SaaS enterprise platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. More than 1,800 companies, including many of the world’s largest organizations, rely on Kyriba to streamline key processes, protect against loss from fraud and cybercrime, and accelerate growth opportunities through improved decision support. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
Daniel Shaffer, firstname.lastname@example.org, +1 (858)263-2218