Transdev Selects Kyriba for its Treasury Management

Press Release

Paris, June 15, 2010 - Kyriba, the leader of Software-as-a-Service (SaaS) cash and treasury management solutions, is pleased to announce that Transdev, the 4th largest private operator of public transport in Europe, has implemented Kyriba to improve its cash visibility. Transdev has simultaneously employed SWIFTNet, a partnership between Kyriba and Bred Banque, for its bank communication. From the beginning, Transdev was looking for a centralized communication hub solution to connect to all banks and manage their cash. The Treasury group knew that they needed a flexible tool and seamless implementation at the start of the search. Transdev chose Kyriba after they had requested proposals and met with all of the key market players in the industry. Transdev adopted Kyriba to automate and modernize its processes, simultaneously consolidating their many interfaces. Transdev has noted that SaaS is an indisputable advantage for them.

"An integrated solution provided us with more value-added abilities and time-savings," commented Lawrence Aduriz, Transdev’s Group Treasurer. The fact that Kyriba offers its Service Bureau through its member concentrator, Bred Banque Populaire, a historical player in the market, has played an important role. "Kyriba offers a solution to meet our objective of integrating systems, pooling settings between the various modules (cash, payments, reconciliation, and bank communications). The SaaS solution also has proved easy to deploy within the Transdev Group ", said Noyer Sylvain, manager of Treasury and Finance.

Since the start of implementation, Kyriba has automated many tasks (e.g. automatic sending of documents by email) and Transdev has a gained important time dedicated to cash management, in both daily tasks and monthly analysis.

"The central administration of the software gives more visibility and control over authority delegation, enhanced responsiveness and more transaction security. Kyriba also allowed us to manage our falling Forex maturities," reflects Lawrence Aduriz.

In the future, Transdev plans to implement Kyriba’s bank reconciliation module for its sites in France.

About Transdev
Transdev, a subsidiary of Caisse des Depots, is the 4th largest private operator of public transportation in Europe. Transdev has identities sprawling over 9 countries in Europe and Canada, Morocco and Australia. The company is responsible for the movement of 2 billion passengers per year. It deploys its expertise in three complementary areas: the capitalization of transport networks, the installation and operation of major projects and in its service to its passengers. With 10 tram networks operated by the group or receiving technical assistance (Grenoble, Madrid, Montpellier, Mulhouse, Nantes, Nottingham, Orléans, Strasbourg, Tenerife, Utrecht, a network under construction in Reims, and underground operations in Genoa), Transdev is a leader in this market.

The group manages a fleet of over 20,000 vehicles, 16,000 buses, 500 trains Tramway, 90 metro trains, 30 trains, 110 trolley buses, 50 ferries and over 4,000 transport vehicles in demand; Transdev is a leader in the European market. To support local economies throughout their projects, Transdev relies on its overall control of the chain of displacement and its unparalleled experience of public-private partnerships. In 2009, the group generates an aggregated turnover of 2.513 billion Euros with 30,240 employees.tomate and better control their daily cash management tasks, including centralization of consolidated bank balance and transaction reporting, payments, cash positioning/forecasting, automated general ledger posting and investment, debt and FX portfolio reporting. The system automatically collects bank statements and facilitates automated cash, bank, and ledger reconciliations through Kyriba’s daily bank connectivity monitoring service. The solution also meets stringent Sarbanes-Oxley 404 audit trail, workflow, and control requirements while providing seamless integration with third-party applications. Founded in 2000 and headquartered in San Diego, Kyriba has operational hubs in New York and Paris serving a global client base of more than 7,000 subscribers across several hundred corporations, insurance companies, and financial institutions.