Ressourcen

Kyriba’s API integration for Microsoft Dynamics 365 (D365) accelerates payments and bank connectivity projects, eliminates project risk and drastically reduces connectivity costs. The Kyriba D365 integration centralizes payment activity, fully manages bank connectivity and delivers superior fraud detection and visibility. It also provides a full suite of out-of-the-box ERP workflows for cash management, GL reconciliation, GL export, FX balance sheet and bank statement export.

Unleash the Power of Enterprise Liquidity Management with Microsoft Dynamics 365 and Kyriba A Secure and Scalable Connectivity Solution Kyriba’s API integration for Microsoft Dynamics 365 (D365) accelerates payments and bank connectivity projects, eliminates project risk and drastically reduces connectivity costs. The Kyriba D365 integration centralizes payment activity, fully manages bank connectivity and delivers superior fraud detection and visibility. It also provides a full suite of out-of-the-box ERP workflows for cash management, GL reconciliation, GL export, FX balance sheet and bank statement export. With one API gateway, clients can connect via Kyriba to over 1,000 global banks, supported by an extensive format library of 50,000 pre-developed and pre-tested payment scenarios. Kyriba’s connectivity solution relieves IT development and maintenance burdens by managing future connectivity and format changes while monitoring connectivity performance 24/7. Major Benefits of Using Kyriba D365 Integration Solution for Payments Workflow With Kyriba D365 Integration Without Kyriba D365 Integration Configuration and Installation Pre-built data extract, mapping and transmission from D365 systems to Kyriba All bank connectivity and payments formats are managed by Kyriba A tested and proven solution Benefit from the latest developments (e.g., latest D365 version support and PSR updates) Develop custom data extract and transmission from D365 systems to Kyriba Define and maintain mapping for payment scenarios in D365 Develop custom process monitoring Time-consuming testing of extracts Payment Processing Immediate payment transmission to banks, via Kyriba, upon batch completion Integrated workflows transmit encrypted HTTP No intermediate files created Connected via SFTP: Require the Kyriba FTP server for intermediate file creation and storage Explicit file encryption/decryption Direct to Kyriba API: Custom API workflow orchestration and exception management Payment Monitoring Track and monitor the status of all payments across banks Identify and take immediate action for payment exceptions Separate D365 module required for bank connectivity monitoring Lack of visibility to payment status across banks Extra effort to identify and resolve payment exceptions The integration between D365 and Kyriba allows clients to submit and monitor payments and direct debits using D365 with automated workflow into the Kyriba Platform. The Kyriba D365 API Integrated Payments Workflow Explained D365 payments are translated to comply with Kyriba’s standard payment information. Kyriba’s custom table provides mapping of relevant information. D365 payments are translated from XML to CSV and sent to Kyriba as individual payment requests. Payment requests are batched in Kyriba. Batched payment orders are sent to associated banks to be executed. Payment confirmation is sent by the banks to the Kyriba application. Inquiries are scheduled in D365 ERP to retrieve payment acknowledgments from the Kyriba application. Payment status updates are transmitted to D365 ERP through API integration. Payment status is posted to Kyriba’s custom table. Kyriba D365 API integration also supports cash management, GL reconciliation, GL export, FX balance sheet and bank statement export workflows. Kyriba D365 API Integration for Cash Management Workflow Supporting cash flow forecasting and positive pay. The automated workflow facilitates: Open customer and vendor invoices Non-Kyriba payments, such as checks Other GL entries to support cash forecasting Kyriba D365 API Integration for GL Export Workflow Providing a cash accounting solution, sending GL entries created in Kyriba to the ERP. Main features include: Export of GL entries from Kyriba Export of GL entries not otherwise reported to the ERP Kyriba D365 API Integration for Bank Statement Export Workflow Exporting bank statements to ERPs. The automated workflow features: Extract of bank statements in a format accepted by ERPs Export contains prior day/intra-day data, depending on the ERP Kyriba D365 API Integration for GL Reconciliation Workflow Facilitating reconciliation of bank transactions to accounting. It eliminates error-prone manual entry with: Import of bank account entries from the ERP Posting of GL adjustments back to the ERP Kyriba D365 API Integration for FX Balance Sheet Workflow Extracting balances for FX analysis (previously as FireApps). Main features include: Extract of life-to-date balances for assets and liabilities Balances aggregated by entity, currency and GL account in document, local and reporting currencies For more details, check out the Kyriba Developer Portal. FAQs on the Kyriba D365 API Integration Do different D365 platforms require different installations? No, the same Kyriba D365 build package is available for all installations. What are the D365 releases Kyriba supports? Kyriba follows the D365 release updates. Kyriba always communicates with the latest build package along with the oldest supported D365 version. For instance, currently (2023), the oldest D365 version supported is 10.0.32. See the Kyriba Developer Portal for more information. Can customers use their own middleware to call the API? Yes, customers can use their own middleware to call the API. What authentication schemes does the integration use? The integration uses REST API with Basic Authentication or OAuth2. Can clients connect to multiple ERP systems? Yes, Kyriba ERP Connectors support the integration of multiple ERPs, including NetSuite, Oracle Cloud, SAP S/4HANA and ECC. Are payment transfers batched? All payment transfers are batched in Kyriba. Technically, clients could send a single payment request to Kyriba. What payment types are supported? The integration supports payment request imports and payment status updates for vendor payments, treasury, direct debits and checks. How long does it take to connect my ERP to Kyriba? Historically, installation and API connectivity take 2-5 days, depending on the complexity of a client’s configuration and modules in scope. Kyriba D365 API integration reduces the cost, risk, time and effort required to connect D365 ERP to Kyriba.

The IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications 2023 Vendor Assessment underscores the crucial role of effective liquidity management. The report highlights liquidity ratios as vital indicators of financial...

The IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications 2023 Vendor Assessment underscores the crucial role of effective liquidity management. The report highlights liquidity ratios as vital indicators of financial stability, impacting decisions and investor confidence. The report analyzed TMS providers to ensure alignment within typical treasury functional buyers' preferences. Key considerations included SaaS/cloud qualifications, standalone capability, comprehensive treasury features, global presence, revenue, experience and enterprise footprint. Among the assessed vendors, Kyriba stands out as an industry leader, offering a comprehensive TMS with robust cash and liquidity management functions, complemented by additional finance department capabilities. For more information on how Kyriba was named an industry leader, download the IDC report.

Monday 19 June 2023 4:00pm - 5:00pm | The second episode of our Kyriba DACH Webinar series will focus on Liquidity Planning. Alexander Haensel, Kyriba’s DACH Sales Country Manager, and Xavier Audibert, Kyriba's Product...

Monday 19 June 2023 4:00pm - 5:00pm | The second episode of our Kyriba DACH Webinar series will focus on Liquidity Planning. Alexander Haensel, Kyriba’s DACH Sales Country Manager, and Xavier Audibert, Kyriba's Product Architect, will jointly deliver an in-depth presentation on the intricacies of Liquidity Planning.

Companies around the globe generally deal in two opposing cash positions - a cash deficit or cash surplus. And in today’s hyper-competitive world, it is more important than ever for companies to grow capital...

Companies around the globe generally deal in two opposing cash positions - a cash deficit or cash surplus. And in today’s hyper-competitive world, it is more important than ever for companies to grow capital or address a surplus of cash in a way that is scalable with their business.

As Ruth Porat, CFO of Alphabet, has said, “There’s no question that liquidity is sacrosanct.” Companies that can identify and use cash with confidence can now leverage liquidity as an asset for strategic value...

As Ruth Porat, CFO of Alphabet, has said, “There’s no question that liquidity is sacrosanct.” Companies that can identify and use cash with confidence can now leverage liquidity as an asset for strategic value creation.

In diesem ersten Webinar aus unserer Webinar-Serie zeigen wir Ihnen die verschiedenen Funktionen von Kyriba auf, welche die aktive Steuerung der Cash Flows übernehmen können.

In diesem ersten Webinar aus unserer Webinar-Serie zeigen wir Ihnen die verschiedenen Funktionen von Kyriba auf, welche die aktive Steuerung der Cash Flows übernehmen können.

Als Teil der SaaS-Berichterstellungsplattform Kyriba Analytics bietet Liquidity Analytics CFOs und Treasury-Teams die Möglichkeit, unternehmensweit integrierte Cash-Bestände zu erkennen, und präsentiert Verschuldungs- und Investitionsdaten mit ausgefeilten Visualisierungen und Analysen. Die neueste Kyriba Analytics-Lösung ermöglicht...

Als Teil der SaaS-Berichterstellungsplattform Kyriba Analytics bietet Liquidity Analytics CFOs und Treasury-Teams die Möglichkeit, unternehmensweit integrierte Cash-Bestände zu erkennen, und präsentiert Verschuldungs- und Investitionsdaten mit ausgefeilten Visualisierungen und Analysen. Die neueste Kyriba Analytics-Lösung ermöglicht Liquiditätsmanagement mit besserer strategischer Planung, mehr Informationen und weniger Zeitaufwand: Analyse der Nettofinanzposition Um die finanzielle Position eines Unternehmens umfassend verstehen zu können, muss die zeitliche Variation der Nettoverschuldung analysiert werden. Diese Analyse kann aufzeigen, wie sich die Liquidität des Unternehmens in einem bestimmten Zeitraum verändert hat und ob diese Änderungen Anlass zur Sorge geben. Durch die Untersuchung von Konzerndarlehen zwischen Tochtergesellschaften als Teil der Nettoverschuldung lässt sich der Stellenwert der internen Liquidität der Gruppe analysieren. Die Aufschlüsselung nach Währungen verdeutlicht Risiken in Verbindung mit Devisen vor der Absicherung. Um die Verzögerungen zu vermeiden, die meist bei der Berichterstellung mit nicht integrierten Tools auf Basis von Tabellenkalkulationen auftreten, kombiniert die Kyriba-Lösung gleichtägig Treasury-Daten und Informationen über Finanztransaktionen zur Berechnung der Nettoverschuldungsposition. Mit diesen Ressourcen stellt Liquidity Analytics die aktuelle finanzielle Position der Organisation detailliert dar, sodass der CFO fundierte Entscheidungen treffen kann, um finanzielle Risiken effektiv zu minimieren. Entwicklung eines soliden Finanzplans Liquidity Analytics ermöglicht eine optimierte Finanzierung aus der geplanten Entwicklung von Working Capital und Investitionsausgaben. Anhand der Prognose des Finanzierungsbedarfs des Unternehmens im Verhältnis zu seinen bestehenden Finanzressourcen lassen sich die Finanzgeschäfte des Unternehmens effektiver planen und verwalten. Das aktuelle Wirtschaftsklima ist von Unsicherheit geprägt. Es ist also besonders wichtig, dass CFOs für verschiedene Situationen planen, um sowohl Wachstum optimal zu nutzen und mögliche Rückgänge abzuwehren. Liquidity Analytics bietet Stresstests der Geldzu- und -abflüsse, die prüfen, ob der Finanzplan dem Druck eines volatilen Markts standhalten kann. Mit diesem Tool können CFOs sicherstellen, dass der Finanzplan des Unternehmens in verschiedenen möglichen Wirtschaftsszenarien widerstandsfähig bleibt. Liquiditätskontrolle Die Liquiditätsquote ist ein wichtiger Faktor für die Bonitätsbewertung und damit die Fremdkapitalkosten eines Unternehmens. Liquidity Analytics zeigt die historischen Liquiditätsschwankungen auf und prognostiziert auf Basis der Finanzplanung die künftige Entwicklung. Diese Analyse berücksichtigt nicht nur Cash-Bestände und Barwerte, sondern auch zugesicherte Kreditlinien. Das Tool kann auch zur Minderung des Kreditrisikos beitragen, indem es die Verteilung des Liquiditätsbestands auf verschiedene Banken kontrolliert, um eine mögliche Konzentration zu vermeiden. Die Lösung stellt sicher, dass der Liquiditätsbestand diversifiziert und nicht auf ein Institut konzentriert ist. Dadurch wird die finanzielle Stabilität des Unternehmens verbessert, da es nicht von einer einzelnen Bank abhängig ist. Strukturanalyse des Schuldenportfolios Um die Zinsbelastung zu minimieren, ist es äußerst wichtig, das Schuldenportfolio regelmäßig zu analysieren und zu optimieren. Mit Liquidity Analytics können CFOs das Risiko volatiler Zinssätze effektiver berechnen und prognostizieren. Das Tool schätzt die Kosten des Finanzplans für verschiedene Szenarien anhand von „Was-wäre-wenn“-Vorhersagen künftiger Zinssätze sowie Stresstests der Liquidität. Anhand dieser Analyse können CFOs fundierte Entscheidungen zu den Finanzgeschäften des Unternehmens treffen und die Zinsbelastung langfristig minimieren. Kyriba Analytics-Berichtsplattform für CFOs und Treasurer Liquidity Analytics Wie hoch sind meine Nettoverschuldung und meine Liquidität? Wie und wann zahle ich meine Schulden am besten ab? Wie viel „Überlebenszeit“ habe ich? Cash Analytics Habe ich genug Barmittel? Sind meine Liquiditätsprognosen zuverlässig? Wie ist mein Umgang mit Banken? Payments Analytics Wo ist die größte Konzentration von Zahlungen? Haben wir zu viele Überweisungen getätigt? Welche Benutzer führen Zahlungen aus und wer genehmigt sie?   Risk Analytics Wie hoch ist mein verfügbarer Kreditrahmen? Wie sieht mein Verschuldungsprofil aus? Wie hoch ist der Wert meiner Finanzanlagen? SCF Analytics Wie hoch ist meine Lieferantenbeteiligung? Wie viele Dokumente wurden hochgeladen? Welche Rechnungen werden finanziert? Compliance Analytics Wer sind die Benutzer und wo befinden sie sich? Auf welche Module können sie mit welchen Rechten zugreifen? Auf welche Daten können sie zugreifen?

Cash is still king — but the value of cash and forecasted liquidity held or planned by the company can only be realized via cash visibility, when the treasurer knows what cash is available,...

Cash is still king — but the value of cash and forecasted liquidity held or planned by the company can only be realized via cash visibility, when the treasurer knows what cash is available, where it is held and what flows are expected in the future. However, all too often, treasurers do not have access to their organization’s full cash picture. There are many good reasons for working with multiple banks across different markets, but complex banking structures and sprawling geographical footprints can make it difficult to achieve complete cash visibility into current balances, never mind impacting the accuracy of cash and liquidity forecasting. Luckily, achieving full cash visibility over cash is not an insurmountable goal. This eBook outlines the action plan treasurers can take to gain full visibility over their cash, from gaining a clear view of current bank accounts to increasing the accuracy of the cash forecast. "More than a quarter of global cash is not visible to corporate treasury on a daily basis.” Source: PWC’s Global Treasury Benchmarking Survey   What is Cash Visibility? Cash visibility is critical to making effective decisions. Armed with clear visibility over the company’s current cash position and future liquidity flows, treasurers can: Invest cash strategically Support the CEO, CFO in strategic initiatives with the right levels of cash and liquidity Use cash management structures effectively Minimize debt and interest expense Make better informed hedging decisions Reduce bank fees Bolster treasury’s reputation within the organization Key Vocabulary Cash Visibility means knowing what cash the company currently has and where it is held. It also means being able to predict what cash the company will have in the future. Cash Budgeting generally performed by FP&A, is more focused beyond one year and has an increased emphasis on free, cash-flow guidance. The reconciliation of indirect budget-based forecasts with direct cash flow forecasts are increasingly managed quarterly. Cash Positioning is concerned with today and often the next five business days. The purpose is to manage daily liquidity to ensure shortfalls are covered and surpluses are concentrated to earn some yield on excess cash. Cash and Liquidity Forecasting typically extends cash positioning with horizons anywhere from one week to one year. Forecasting leverages multiple data sources to increase confidence in the projected liquidity balances so that better cash decisions can be made. Why is Cash Visibility Important? Cash visibility is the lifeblood of any organization. A company that has clear visibility can invest or deploy cash strategically while minimizing debt and interest expenses. Accurate visibility also increases the effectiveness of hedging decisions and enables the treasurer to mitigate their organization’s risk to exposures while supplying the CFO with funding in support of strategic initiatives. Conversely, a lack of clear visibility can result in numerous issues, including: Insufficient buffer of surplus cash to absorb unforeseen expenses Idle cash, lower returns on investments Insufficient return on cash Higher than necessary borrowing costs Unnecessary bank fees and costs Inadequate support for CFO strategic decision-making Less competitive results and less effective treasury organization as a partner for finance Related Resource Unreliable cash visibility and forecasting is the treasury issue that causes CFOs the most concern. "The top benefits of using Kyriba are the visibility that it provides, the timeliness with which it provides that visibility, and the ease of use, in that it provides it all in one simple one-stop shop.” TRISH FISHER Director, Treasury Operations, WeWork The Path to Cash Visibility Whether the treasurer is seeking to pay down external borrowing or maximize return on investments, the first step is to know what cash is currently available. But that’s not all, treasurers also need to be able to predict future liquidity flows and keep the right people informed. Achieving cash visibility is possible by using 5 definitive steps to move towards greater cash visibility and flexibility: Identify and Record Without an inventory of your banks and accounts, a complete cash visibility picture is unattainable. Prioritize and Rationalize Identify where to begin, difficult regions or banks, and determine accounts for closure. Automate Bank Connectivity and Reporting Harness the most costeffective and leading connectivity methods to access data from banks in an automated way. Generate and Streamline Cash Positioning with Liquidity Forecasting Accurately predict cash flows over the coming hours and days, and match actuals to forecasts to speed up daily reconciliation and cash application. Enhance and Optimize Future Cash Flow with Liquidity Planning The ability to see a holistic, aggregated view of cash and liquidity sources creates more accurate views and predictable free cash flow. Knowing your predictable liquidity creates a better understanding of any future liquidity shortfalls. Step One: Identify and Record Regardless of the scale and breadth of your organization’s banking and accounts structure, it is important to understand the banking landscape of all business units and subsidiaries. Whether operating in a domestic or international capacity, banking relationships. the accounts, the purpose of those accounts, and the core attributes of the bank, the accounts and their purpose all are necessary to begin a cash visibility project. This has many implications for the success of global cash visibility projects, such as: Establishing a full inventory of managed accounts, ensuring all balances are identified Ensuring the proper scope and prioritization of your project Optimization and rationalization across banks and accounts Effective comparisons and evaluations across banks for technical capabilities for connectivity, tech, regional coverage and other important services An effective bank relationship and bank account management database is the starting point for successful projects, but particularly when it comes to cash reporting. Where cash is rolling up in concentration or pooling structures, how funds are being transferred, purpose of the accounts, and even regulatory limitations all have a say in how you engage with your banking partners and the extent of cash flexibility. Step Two: Prioritize and Rationalize Bank reporting rationalization ensures accounts are identified and open for the right reasons. Often, particularly in international or more complex organizations, accounts are opened in haste to support business development and decisions. This is often necessary for statutory purposes, or to deal with an unforeseen acquisition or reorganization. However, if this situation exists, it’s possible cash and liquidity is not well defined or identified, as well. Organizations must understand and rationalize accounts, prior to moving into the next ‘step’, but this can continue throughout the project in parallel, too. The focus here is on creating a streamlined, but effective banking and account structure that fulfills treasury’s mission of safeguarding and optimizing cash, while still meeting specific business unit or subsidiary’s requirements. Bank improvements in reporting quality as well as the leading application of configuration within leading treasury management systems, creates the scenarios where previously opened, special-purpose accounts are no longer required to serve special purposes such as revenue, collections, treasury, or payables accounts. With banks being able to provide significantly improved quality of liquidity information within bank statements and other special purpose reports, and the speed of that data increasing through APIs, some companies can conduct business with one or two bank accounts per legal entity, business unit or country office. The focus here is on creating a streamlined, but effective banking and account structure that fulfills treasury’s mission of safeguarding and optimizing cash, while still meeting specific business unit or subsidiary’s requirements. Step Three: Automate Bank Connectivity and Reporting Visibility over multiple accounts requires automated bank connectivity. Companies of all sizes are often challenged in finding and implementing the right bank connectivity solution and is a critical driver of lack of visibility into cash. On the surface, bank connectivity is easy, so long as treasury teams prioritize the following: Security Automation Speed and Cost There are a variety of connectivity options to deliver security, automation and cost objectives. Yet, not all connectivity options are alike. Bank connectivity comes in a number of different forms, including: Host-to-host solutions, such as FTP, or leading practice connections using application programming interfaces (APIs) Country or region-specific protocols such as EBICS, Editran, Zengin Global cooperatives like SWIFT , which offer flexibility to manage your own connectivity or use a service provider and fully managed service bureaus The ideal connectivity solution for an organization will actually depend on factors such as bank and payment transaction volumes, bank account structures, and the location of company banks. These characteristics — in combination with what technologies the banks can (and prefer) to support — will drive the ideal connectivity choices. In practice, a combination of connectivity methods is likely the best solution to optimize costs while maintaining automation and security. Without utilizing varying connectivity methods, the company may spend more than necessary and potentially sacrifice information transparency. While managing multiple connectivity methods on your own may seem complex, connectivity-as-aservice models gives organizations faster global access to banks with pre-configured and existing connections. This coverage of the connective landscape for banks saves effort and time spelling big cost savings for the project phase as well as ongoing productive operations. When you select the right vendor to simplify bank connectivity by taking care of everything — from building connections, monitoring availability, and delivering automation all while providing new technology like APIs, organizations win and save money. Step Four: Generate and Streamline Cash Positions and Liquidity Forecasts The goal of cash positioning is to establish a realtime view of cash at any point in time and to be able to reconcile prior-day forecasts to enable the deployment of cash throughout the organization more quickly and accurately. Effective cash positioning reduces idle cash, creating opportunities to earn immediate yield while providing certainty over risk exposures that cash is exposed to. As a process, cash positioning involves gaining a real-time view of the company’s cash position at any moment in the current day(s) by consolidating a number of different sources and replacing old data with more up-to-date information. With today’s APIs gaining the real-time, near-instantaneous view of cash and liquidity is easier than ever. Within treasury technology, building the cash position typically involves combining a number of data sources: Prior-day balance — automatically downloaded from banks at the start of the day Current-day bank reporting — automatically downloaded from banks throughout the day, either at specific times (e.g., 1st or 2nd presentment) or as a constant stream of data via an API Expected payables and receivables — from the organization’s ERP and reported/cleared from bank statement details Treasury financial transactions and settlements — which are integrated within the treasury system Building a cash position is just the start. After building a cash position, it is then necessary to maintain and reconcile it. Maintaining the cash position involves updating and replacing cash flow data with more accurate information via intra-day updates from internal systems and banks. Reconciliation of the cash position is the matching of actuals to forecast flows, which is often done first thing in the morning as a part of typical treasury processes. The goal is to identify and understand surprises — for example, if a transaction did not happen yesterday then it may happen today, meaning the unreconciled variance needs to be rolled into today’s position. For many organizations, this process can be time consuming, so rules-based automation or artificial intelligence can be introduced to simplify the process. Key requirements for cash positioning include interactive dashboards and clear communication within — and outside of the treasury organizations: Interactive dashboards enable cash managers to drill down through multiple levels into any component of the cash position. Positions should be viewable by multiple dimensions in real-time by line item, bank, entity, currency, etc. Communication within and outside of treasury is critical. The treasurer, CFO and finance personnel managing subsidiaries all require cash visibility, so delivering visual and detailed reconciled cash positions is a critical outcome of daily cash positioning. Effective cash positioning and liquidity planning leads to numerous benefits for the finance organization: Keeping the CFO and the Board up to date with reliable and accurate cash position information Mobilizing cash across the organization for funding and investment purposes Enabling cash management processes such as pooling, sweeping and intercompany borrowing Optimizing interest income and expense via better informed borrowing and lending operations Reducing external borrowing by using internal cash resources effectively Step Five: Enhance, Optimize and Predict Cash and Liquidity While cash positioning can be used to predict cash flows in the coming hours and days, cash forecasting with liquidity planning information creates more accurate, longer horizons beyond weeks, extending into months, years. Cash forecasting must not only be accurate, but predictive using more historical and current data to be truly effective. Without complete confidence in projected forecasts, the cash forecast cannot support treasury in improving cash utilization. Cash forecasting is needed to help treasury invest cash over longer maturities, secure borrowing to fund operations and make more effective hedging decisions. And confidence in the cash forecast is the difference between achieving these outcomes and hoping to do so. So why do so many companies struggle to achieve an accurate forecast? Common challenges include a lack of accurate data sources, lost results from past forecasts, ineffective methodologies and a lack of alignment with performance metrics. If a forecast isn’t reliable, treasury is unable to trust it and therefore cannot use the cash forecast to make critical decisions. It is crucial to incorporate data sources from treasury, like financial transactions along with all the normal P2P and O2C cycle flows from the ERP Cash forecasting and Liquidity Planning creates future views of anticipated free cash flow and helps all of finance from FP&A to the CFO better strategic accuracy in decision-making. Identify, Find the Data Consolidate the Information Measuring Forecast Accuracy Predictive Analytics: Optimize Your Forecast Find the Data: Collaborating with Other Teams Forecasting incorporates key data points from elsewhere in the business so that effective collaboration can be administered between AP, FP&A, IT and regional controllers who own valuable forecasts data and/or administer systems to enhance forecast visibility. This collaboration is essential in making sure everyone involved knows what they are expected to provide with executive oversight to ensure that collaboration is prioritized. Consolidating Forecast Data Automating the integration of forecast data into a single system of record is the next critical factor in achieving effective forecasting. In many cases, source data may come from various ERP modules or in some cases other special purpose systems like procurement or revenue recognition/accounts receivable. In the past and in some situations, spreadsheet data to augment or provide coverage for areas or business units without systems could be a source, too. While consolidating data into a single system could be an IT-intensive exercise, best practice is to eliminate the need for internal IT resources, reducing the cost and time required to integrate systems. This can be done by having pre-built connectivity and integration through APIs provided by your treasury system. Measuring Forecast Accuracy The final piece of cash forecasting is to measure the accuracy of the cash forecast at a detailed level. Measuring forecast performance is critical to understanding how effective each line item and source of information was, offering valuable insight into where the forecast can be improved. This analysis must be done at a detailed level. For example, measuring accuracy before and after a 90-day/13- week period can hide many anomalies and offers no meaningful conclusions. Many organizations will measure week over week, while some will drill down at a daily level. Once accuracy is measured, the treasury team must implement a feedback loop to effect meaningful change. Regional controllers, for example, can only improve if presented with detailed facts. Further, standardized KPIs — that ideally would form a component of performance reviews and compensation calculations — go a long way in reinforcing desired forecast behavior. This is where commitment from the CFO will drive effective forecast performance. Optimize: Predictions for your Cash and Liquidity Once the foundation is established for forecasting your liquidity with the prior steps, the next level naturally leads to identifying the technology solution that will offer your organization and team the support and improvements for your liquidity forecasting. Technology can do more to provide value through expanding the horizon of your forecast, depth of insight, accuracy, and enhanced user experience with information already within your organization’s grasp. Through tools that leverage artificial intelligence companies today should be more advanced and be capable of: Create predictive dashboards and enhanced reporting Cash forecasts with risk models built-in Identify optimum cash cushion, draw-down levels, and investment levels Characteristics to look for when evolving and upleveling your forecasting efforts should include looking to solutions using AI-based predictive analytics for forecasting including calculations based on risk models that give treasury and FP&A teams the optimal cash cushion. Additionally, look for solutions giving you: Cash flow by level of confidence Recommendations for optimal investment strategy Predict liquidity requirements To successfully deploy an AI-driven predictive forecasting model, organizations must prepare structured and normalized historical data. Machine learning algorithms will identify patterns within the data to make predictions about when, for example, customers will actually remit payment. This AI-predicted data stream will align with other forecast data sources to deliver a more intelligent cash forecast to predict future liquidity needs. Human interaction remains important to ensure liquidity forecasting and planning aligns with internal risk policies of the team and organization. AI is a tool to complement, rather than replace, treasury teams as they execute more complex tasks and processes. In this role, AI is a critical piece in the drive to towards real-time treasury decision making and the progressions towards 24/7 liquidity management. Optimizing Cash Visibility Benefits Achieving full cash visibility takes time and effort, but the rewards are significant. Armed with a complete, accurate and up-to-date picture of the current cash position and liquidity planning flows, treasurers can: Make timely and confident decisions about activities, including investments, borrowing, cash concentration and hedging Pay down external borrowing with a clearer view of the cash available Invest strategically with a clear picture of current and future flows Reduce bank fees by closing or combining redundant bank accounts or negotiating with banks from a position of knowledge Minimize debt and interest expense by making the best use of internal cash and reducing external borrowing Gain a clearer picture of risk exposures and manage those risks more effectively Optimize planning of borrowing and lending operations Increase effectiveness of hedging by ensuring decisions are based on complete pictures of current balances and planned future transactions Cash Visibility – Final Thoughts The future of treasury technology is here and advancing rapidly; some banks have deployed their own APIs to integrate with their customers’ systems. New platforms are opening new products and services for corporate customers. One of these innovations is the movement towards real-time bank reporting. In many parts of the world, intra-day reporting happens less than twice per day, and in some cases not at all, meaning that daily cash positioning is largely driven by prior-day reporting and expectations of clearings throughout the day. Real-time bank reporting, delivered only by APIs, is the future and will be a game-changer for cash managers looking to achieve instant cash visibility into accounts. Additionally, Liquidity Planning extends the value of real-time treasury with the inclusion of cash, treasury instruments, planning information and liability information to deliver longer range strategic decisions by the CFO. Combined with real-time payments, treasury teams will be in an enviable position of not only having real-time views into bank accounts but also being able to mobilize cash domestically — and eventually cross border — within seconds. The transformation to real-time reporting will further pressure treasury teams to employ the right processes and analysis to effectively manage cash information in real time. It will be a change for those organizations that lack modern treasury technology, but an opportunity for enabled organizations to earn a competitive advantage in the utilization and deployment of cash. How Kyriba Can Help Kyriba can support you in achieving full visibility over cash. Kyriba helps organizations reduce the cost and complexity of bank connectivity — whether a company is connecting via SWIFT, using APIs, leveraging country protocol or using a combination of channels prioritizing security, automation and cost minimization. Organizations can easily keep track of signatories, manage workflows and store documents thanks to the control over all global bank accounts given by Kyriba’s bank relationship management solution. Additionally, companies can maximize the accuracy of their cash and liquidity reporting with Kyriba’s detailed and flexible variance analysis and feedback loop to forecast sources. With a full picture of current balances and future flows, you’ll be better positioned to make confident decisions about cash.   Want to learn more about how to achieve cash visibility for better cash forecasting? Check out this webinar to hear Kelkoo Group, a leading e-commerce company, shares their best practices and the payoffs of superior cash forecasting.

Although many CFOs think of application programming interfaces (APIs) as an expedited pathway for bank connectivity, bank connections are just the tip of the iceberg. APIs open integration to a variety of systems, introducing...

Although many CFOs think of application programming interfaces (APIs) as an expedited pathway for bank connectivity, bank connections are just the tip of the iceberg. APIs open integration to a variety of systems, introducing capabilities and process automation that had not previously been possible. APIs offer an information and processing gateway to realizing digital transformation.

Kyriba Analytics liefert integrierte visuelle Dashboards und vorgefertigte Analysen für die Module Kyriba Cash, Liquidity, Treasury, Risk, Compliance sowie Supply Chain Finance und die damit verbundenen Daten. Kyriba Analytics geht über das herkömmliche Reporting...

Kyriba Analytics liefert integrierte visuelle Dashboards und vorgefertigte Analysen für die Module Kyriba Cash, Liquidity, Treasury, Risk, Compliance sowie Supply Chain Finance und die damit verbundenen Daten. Kyriba Analytics geht über das herkömmliche Reporting hinaus, indem es On-Demand-Drill-Downs, die Bearbeitung von Dashboards und ein neues visuelles Erlebnis für den Austausch von Informationen in Präsentationsform bietet. Laut einer Umfrage von CFO.com sind die Datenvisualisierung und das Berichtswesen die wichtigsten Bereiche, in denen die Treasury-Abteilung laut CFOs ihre Technologielösungen verbessern müssten, um den Best Practices der Branche zu entsprechen. Strategische Einblicke in Liquidität und Risiko Kyriba Analytics von Kyriba gibt dem Finanzwesen mithilfe von KI mehr prädiktive Entscheidungsmöglichkeiten an die Hand. Dashboards für die Szenarioanalyse, die Anwendung von Trends, Marktdaten und Kriterien aus der Vergangenheit sorgen für bessere Einblicke: Visualisieren Sie Cash und Liquidität in Ihrem gesamten Unternehmen Prognostizieren Sie die Verschuldung mit einer flexiblen Szenarioanalyse für Mittelzuflüsse und -abflüsse, um Klarheit über künftige Veränderungen zu erhalten Visualisieren Sie die Auswirkungen der Verschuldung und des Risikoniveaus auf Ihre Rentabilität Unterstützen Sie Investitionsausgaben und strategische Entscheidungen zur optimalen Finanzierung von Akquisitionen oder zur Finanzierung internationaler Tochtergesellschaften Erkennen Sie, wo die Schuldenlast liegt und welche Arten von Instrumenten sie umfasst Besonders wichtige Features Interaktive Analyse Dynamische Visualisierung und Drill-Down-Analyse Aufdecken von Datenbeziehungen und Trends durch grafische Darstellung Sofort einsatzbereit Sofortiger Zugriff auf Standardberichte und -formeln integriert Nutzung vorgefertigter KPIs, Visualisierungen und Berechnungen Self-service Dashboard Erstellung eigener interaktiver Dashboards eilen der angepassten Dashboards mit den Teams Vollständig integriert Vollständig sicher in der Kyriba-Cloud Vollständige Trennung der Daten nach Benutzern Fördert die Zusammenarbeit im Team Module und Anwendungsfälle Liquidity Analytics Wie hoch sind meine Nettoverschuldung und meine Liquidität? Wie und wann zahle ich meine Schulden am besten ab? Wie viel „Üb Cash Analytics Habe ich genug Barmittel? Sind meine Liquiditätsprognosen zuverlässig? Wie ist mein Umgang mit Banken? Payments Analytics Wo ist die größte Konzentration von Zahlungen? Haben wir zu viele Überweisungen getätigt? Welche Benutzer führen Zahlungen aus und wer genehmigt sie? Risk Analytics Wie hoch ist mein verfügbarer Kreditrahmen? Wie sieht mein Verschuldungsprofil aus? Wie hoch ist der Wert meiner Finanzanlagen? SCF Analytics Wie hoch ist meine Lieferantenbeteiligung? Wie viele Dokumente wurden hochgeladen? Welche Rechnungen werden finanziert? Compliance Analytics Wer sind die Benutzer und wo befinden sie sich? Auf welche Module können sie mit welchen Rechten zugreifen? Auf welche Daten können sie zugreifen? Diese Vorteile bietet Kyriba Analytics Herkömmliches Reporting Analytics Verbesserte Datenvisualisierung Erstellung Self-Service Dashboard Daten-Drilldown Variable Änderungen bei Bedarf und in Echtzeit Verarbeitung großer Datenmengen Verbesserte Zusammenarbeit innerhalb des Unternehmens

Cash und Liquidität für CFO optimieren Die Module Cash Management, Liquidity Planning und Liquidity Analytics von Kyriba bieten eine Komplettlösung zur Vorhersage des Cash- und Liquiditätsbedarfs und für datengestützte Liquiditätsentscheidungen. Die Praxis der Prognosen...

Cash und Liquidität für CFO optimieren Die Module Cash Management, Liquidity Planning und Liquidity Analytics von Kyriba bieten eine Komplettlösung zur Vorhersage des Cash- und Liquiditätsbedarfs und für datengestützte Liquiditätsentscheidungen. Die Praxis der Prognosen hat sich nach der Pandemie verändert. CFOs und Vorstände fordern einen höheren freien Cashflow, was eine höhere Präzision bei der Prognose und Planung erfordert. Die Liquiditätsplanung hat sich zu einer neuen Praxis entwickelt, die über die Cash-Prognose hinausgeht, um fundiertere und effizientere Entscheidungen zu treffen, um die Generierung und den Erhalt von Barmitteln in der Bilanz zu erhöhen und den CFO-Plan für Wachstum, Expansion, Übernahmen und EBITDA-Verbesserung zu unterstützen. Die Kyriba-Plattform unterstützt integrierte Cashund Liquiditätsprozesse: Cash Management – für die tägliche CashPositionierung und den Abgleich von Banktransaktionen des Vortags, einschließlich Bankberichterstattung, Kennzeichnung von Banktransaktionen und Zielkontenausgleich. Kyriba-Modul: Cash Management Cash Forecasting – Projektion von Bargeldüberschüssen und -bedarfen auf täglicher/ wöchentlicher/ monatlicher Basis. Prognosedaten werden aus internen und externen Quellen erfasst, wobei die Möglichkeit besteht, gleichzeitige Prognosen parallel zu modellieren und Stresstests anhand mehrerer Geschäftsszenarien durchzuführen. Kyriba-Modul: Liquidity Planning Liquidity Planning und Liquidity Analytics – die Prognosen mit Investitions- und Kreditdaten verknüpfen, um fundiertere Liquiditätsentscheidungen zu treffen. Der Liquiditätsplan macht die Liquiditätsprognose umsetzbar und zeigt die Auswirkungen von Investitions- und Kreditentscheidungen anhand von Echtzeitdaten auf. Kyriba-Module: Liquidity Planning und Liquidity Analytics Genaue Ermittlung von Ziel-Liquiditätsniveaus und Flexibilität beim Reporting: Weitere Informationen zu den Liquiditätsanalyse- und Liquiditätsplanungsmodulen von Kyriba finden Sie unter Fordern Sie noch heute eine Demo an.

Modernisierte Liquiditätsprognosen und -planung Liquiditätsprognosen haben sich nach der Pandemie verändert. Es sind neue Verfahren entstanden, um den freien Cashflow und die Liquidität genauer und schneller vorherzusagen. Kyriba hat darauf mit einer vollständig modernisierten...

Modernisierte Liquiditätsprognosen und -planung Liquiditätsprognosen haben sich nach der Pandemie verändert. Es sind neue Verfahren entstanden, um den freien Cashflow und die Liquidität genauer und schneller vorherzusagen. Kyriba hat darauf mit einer vollständig modernisierten Lösung reagiert, um die Prognosehorizonte zuverlässig zu erweitern und datengestützte Liquiditätsentscheidungen zu unterstützen. Geringere Abhängigkeit von Tabellenkalkulationen Treasury-Teams haben für ihre Prognosen oft auf Tabellenkalkulationen zurückgegriffen, um sowohl einfache als auch komplexe Berichte und Szenarien zu modellieren. Liquidity Planning, das Liquiditätsplanungsmodul von Kyriba, wurde so konzipiert, dass es so einfach wie eine Tabellenkalkulation ist und gleichzeitig die Flexibilität bietet, komplexe Prognosen zu modellieren. Kyriba bietet Flexibilität und Präzision Liquidity Planning von Kyriba ist ein neues Modul für Cash-Prognosen, das Treasury- und Finanzabteilungen hilft, genauere Entscheidungen auf täglicher, wöchentlicher, monatlicher oder jährlicher Basis zu treffen. Es unterstützt Cash Forecasting und – in Kombination mit Liquidity Analytics – auch die Liquiditätsplanungsprozesse. DIE WICHTIGSTEN FEATURES Flexibilität und Konfigurierbarkeit Modellieren Sie Prognosen nach Ihren individuellen Wünschen mit beliebig vielen Iterationen, einschließlich Top- Down- oder Bottom-Up-Darstellungen, um verschiedene Arten von Prognosen in Ihrem Unternehmen zu unterstützen. Formelgestützte Konstruktion Fügen Sie die gewünschten Daten in jede einzelne Position und die Gesamtsumme ein oder schließen Sie sie aus. Mehrere, parallele Prognosen Führen Sie mehrere Cash-Prognosezyklen gleichzeitig aus, die mit unterschiedlichen Daten und Annahmen erstellt werden. Was-wäre-wenn-Szenarien Modellieren Sie Prognosen anhand verschiedener Liquiditäts- und Risikoszenarien. Excel-ähnliche Eingabe Bedarfsgerechte Bearbeitung mit einem Klick und Kopieren/Einfügen direkt in die Prognose. Workflow für Einreichung und Überprüfung Arbeiten Sie mit anderen Benutzern zusammen, nutzen Sie dabei Benachrichtigungen und Kommentare. Abweichungsanalyse Erhalten Sie in Kombination mit Cash Analytics eine detaillierte und granulare Analyse von Prognoseabweichungen. Beliebige Datenquellen Vereinheitlichen Sie Prognosedaten aus dem ERP, Tabellenkalkulationen, Data Lakes und anderen Quellen über eine API- oder Dateischnittstelle. KI-unterstützte Cash Flows Nutzen Sie ergänzend Cash Management AI oder anderen AI-Apps, um datengestützte Prognosen als Teil Ihrer Cashflow-Planung einzubeziehen. Liquidity Analytics Das Modul Liquidity Planning kann mit dem Modul Liquidity Analytics von Kyriba kombiniert werden, um die Liquiditätsplanung vollständig zu unterstützen. Liquidity Analytics ergänzt die Liquiditätsprognose mit Liquiditätsdaten aus den Modulen Investments und Debt in Kyriba und stellt diese über vorgefertigte Dashboards dar, um Ihre Prognose umsetzbar zu machen. Die Module Liquidity Planning und Liquidity Analytics vereinheitlichen Bargeld- und Liquiditätsdaten, sodass Sie über die Daten und den Einblick verfügen, um Liquiditätsentscheidungen zu optimieren.

Bei Kyriba handelt es sich um eine vollständig SWIFT-zertifizierte Anwendung für Cash-Management und Zahlungsverkehr, die Konnektivität mit mehreren Banken als Dienst bietet und in die führende Liquiditätsmanagement-Cloud-Plattform von Kyriba für Treasurer und CFOs integriert...

Bei Kyriba handelt es sich um eine vollständig SWIFT-zertifizierte Anwendung für Cash-Management und Zahlungsverkehr, die Konnektivität mit mehreren Banken als Dienst bietet und in die führende Liquiditätsmanagement-Cloud-Plattform von Kyriba für Treasurer und CFOs integriert ist. SWIFT Alliance Lite2 für Unternehmen Kyriba verfügt über die vollständig in die Cloud-Plattform integrierte SWIFT Alliance Lite2-Lösung, die eine komplette Automatisierung und durchgehende Verarbeitung für Zahlungen von Unternehmen ermöglicht. Es ist kein interner IT-Aufwand für das Reporting für den Bankenbereich, Zahlungen und andere SWIFT-Meldungen erforderlich. Für wen ist dieser Service geeignet? Kunden, die die Verwaltung von BICs, Benutzern und RMA-Schlüsseln beibehalten möchten, aber die Umwandlung und Pflege von Bankformaten sowie die Überwachung von Bankverbindungen auch auslagern möchten. SWIFT Service Bureau Mit SWIFT Service Bureau von Kyriba verfügen Kunden über einen eigenen SWIFT-BIC, der komplett durch Kyriba verwaltet wird. Obwohl die Anschaffungskosten auf monatlicher Basis möglicherweise etwas höher sind als bei Alliance Lite2, können die Gesamtbetriebskosten in Abhängigkeit Ihres Konnektivitätsprofils deutlich niedriger sein. Kyriba bietet zudem einen einzigartigen Service für Unternehmen, die von einem anderen Anbieter zu SWIFT Service Bureau von Kyribas migrieren möchten. Für wen ist dieser Service geeignet? Kunden mit einem höheren Volumen an Banken, Transaktionen, Zahlungen und Bankkonten Kunden, die über einen vollständig verwalteten SWIFT-Service verfügen möchten 22% der SWIFT-BICs für Unternehmen werden durch Kyriba verwaltet 25% der Kunden von Kyriba verwenden SWIFTNet MT Concentrator-Service von Kyriba Für Kunden, die einen schnellen Einstieg in das SWIFT-Reporting für den Bankenbereich wünschen, bietet Kyriba mit dem MT Concentrator-Service die Möglichkeit, einen speziell für Kunden von Kyriba bereitgestellten SWIFT-BIC11 zu nutzen. Der Dienst wird pro Konto berechnet und bietet Flexibilität, Kostenvorteile und eine schnelle Integration in das Reporting für den Bankenbereich mit potenziellem Zugang zu allen SWIFT-Mitgliedsbanken. Einige Hundert Kunden von Kyriba haben sich bereits für diesen Service registriert. SWIFT gpi für Unternehmen* SWIFT gpi verbessert die Kundenerfahrung beim internationalen Zahlungsverkehr durch höhere Geschwindigkeit, Transparenz und End-to-End-Tracking. Hunderttausende internationale Zahlungen werden jeden Tag über den neuen gpi-Standard abgewickelt. Kyriba ist für SWIFT gpi für Unternehmen zertifiziert. Reduzieren von Zahlungsermittlungen Durch das End-to-End-Tracking und die Bestätigung von Gutschriften bietet Ihnen SWIFT gpi vollständige Transparenz auf dem gesamten Weg einer Zahlung. Verbessern von Lieferantenbeziehungen Da jeder Zahlung eine eindeutige Tracking-Referenz zugewiesen wird, können Sie Transparenz bei den Zahlungen schaffen und die Handelsströme am Laufen halten. Beschleunigen des Rechnungsabgleichs Per SWIFT gpi übertragene Zahlungsdaten bleiben unverändert, was den Abgleich erheblich vereinfacht. Erzielen einer höheren Kapitaleffizenz Durch schnellere und transparentere Geldbewegungen können Sie Ihre Liquiditätsprognosen verbessern und Ihre Liquidität optimieren. *Quelle: SWIFT „Die Naval Group hat sich dazu verpflichtet, die höchsten Standards bei der Einhaltung von Vorschriften zu erfüllen, und mit dem neuen SWIFT gpi-Angebot von Kyriba kann unser Team die Transparenz und Rückverfolgbarkeit von Zahlungen verbessern, so dass wir unsere Position als europäischer Marktführer im Bereich der Marineverteidigung ausweiten können.“ David Livi Vice President of Treasury and Financing bei der Naval Group

The speed with which you as a seller convert receivables into cash is critical for your organization. Accelerate a cash injection into your company with Kyriba Receivables Finance solution — Kyriba’s latest working capital...

The speed with which you as a seller convert receivables into cash is critical for your organization. Accelerate a cash injection into your company with Kyriba Receivables Finance solution — Kyriba’s latest working capital solution. Turn Accounts Receivable into Cashflow Kyriba’s Receivables Finance is natively integrated with all other Kyriba Working Capital solutions, like Dynamic Discounting and Supply Chain Finance. It enables CFOs to unlock funds tied up in outstanding accounts receivable (AR), converting those assets into cash quickly. Sellers can centralize and simplify all receivables finance programs into one portal, without having to change online funding providers in order to draw down from their credit facilities. This receivable solution allows you to remain in control of the utilization and availability of receivables finance programs, yet obtain the most efficient funding sources for your receivables on a single, funder agnostic platform. How Does AR Financing Work? Kyriba provides companies with greater cash visibility, as well as the capability to finance AR in an easy, fast, and scalable manner via a multi-funders platform. Using APIs, the platform automates connectivity with the seller’s ERP system via certified ERP connectors, providing analytics on AR. The platform allows sellers to sell the receivable automatically to the associate funders and finance automatically or manually selected receivables through a direct connection with a multi-banking approach. How Does Kyriba Integrate Data? Kyriba does not aim to substitute any banks or funders into the receivables finance program from a funding perspective. Instead, we facilitate integration of data from your ERP to multiple funders’ backends, making those programs scalable. This approach aggregates all sellers’ programs into one single platform and provides our customers with a single dashboard to help them make better decisions based on their real-time positions. Full Visibility into Working Capital Management Kyriba’s dashboards provide you with a bird’s eye view of your Receivables Finance results and performance. Additionally, they can simultaneously provide you with visibility into any other discounting or trade payables programs (Dynamic Discounting, Supply Chain Finance, Confirming, etc.) managed within Kyriba. Key Features Kyriba’s Receivables Finance technology supports both pool financing and selective invoice financing programs. Companies can manage the end-to-end journey of the program, including extraction of relevant information, updating the ERP and providing detailed reporting to manage risk. The following is a breakdown of the key features of Kyriba Receivables Finance: Program set-up: Set-up is quick and painless. Receivables Finance easily adds sellers, funders and debtors, as well as credit limits, payment rules, and pricing profile. Ledger data upload/validation: Using APIs, Receivables Finance connects to the seller’s ERP to upload documents (e.g., invoices, credit notes) and update status in real time. Eligibility check and early payment processing: Receivables Finance can perform eligibility and limit checks prior to processing documents or early payment requests towards the funders. Kyriba completes the workflow by connecting to the funders and retrieving status from the drawdown requests. Payment and reconciliation: Once reconciliation of the collections is completed, Kyriba can automatically settle payments to the funder on due date, based on new ledger data. Dashboards, reports and advices: Receivables Finance features a landing page widget that makes drawdowns, early payment status, collections, limits and other functions readily available. Users can also quickly access reports and receive advice and notifications on demand or automatically, through emails or Kyriba dashboards. Seamless Integration Kyriba’s Receivables Finance solution is natively integrated with all other Kyriba Working Capital modules, as well as Kyriba Treasury, Payments, Risk Management and Connectivity. Kyriba’s Working Capital solutions provide you with access to business intelligence and reporting dashboards to drive quick and easy deep analysis of your overall financing programs.

ERFOLGREICHE INTER-/NATIONALE ZAHLUNGSVERKEHRSPROJEKTE DURCH VOLLSTÄNDIGE END-TO-END-PROZESS- UND SYSTEMBERATUNG Warum eine detaillierte Ist-Analyse der Grundstein für ein erfolgreiches und effizientes Zahlungsverkehrsprojekt ist; Wie im Rahmen einer gesamthaften Betrachtung Prozessverbesserungen und Synergien durch passende Systemlösungen realisiert...

ERFOLGREICHE INTER-/NATIONALE ZAHLUNGSVERKEHRSPROJEKTE DURCH VOLLSTÄNDIGE END-TO-END-PROZESS- UND SYSTEMBERATUNG Warum eine detaillierte Ist-Analyse der Grundstein für ein erfolgreiches und effizientes Zahlungsverkehrsprojekt ist; Wie im Rahmen einer gesamthaften Betrachtung Prozessverbesserungen und Synergien durch passende Systemlösungen realisiert werden können; Wie Kyriba Unternehmen mit einer vollumfänglichen, cloudbasierten Zahlungsverkehrslösung unterstützen kann; Warum eine Kombination aus ganzheitlicher Beratung und flexibler Softwarelösung besonders zielführend für eine erfolgreiche Projektumsetzung ist;

Kyriba supports derivative and hedge accounting for ASC and IFRS compliance, including mark-to-market for valuations and automated posting of derivative & hedge accounting entries to your ERP.

Kyriba supports derivative and hedge accounting for ASC and IFRS compliance, including mark-to-market for valuations and automated posting of derivative & hedge accounting entries to your ERP.

Für Unternehmen mit komplexen Finanzierungs-, Beschaffungs-, Devisen- oder Cash- und Liquiditätsmanagement ist die Verwaltung dieser Aktivitäten ohne geeignete Technologie, gelinde gesagt, eine anspruchsvolle Herausforderung. Die In-House Banking (IHB)-Plattform von Kyriba gibt Unternehmen die Möglichkeit,...

Für Unternehmen mit komplexen Finanzierungs-, Beschaffungs-, Devisen- oder Cash- und Liquiditätsmanagement ist die Verwaltung dieser Aktivitäten ohne geeignete Technologie, gelinde gesagt, eine anspruchsvolle Herausforderung. Die In-House Banking (IHB)-Plattform von Kyriba gibt Unternehmen die Möglichkeit, optimale Konzentrations-, Pooling-, Intercompany- und Netting-Vereinbarungen zu treffen, um schneller und kostengünstiger auf mehr Liquidität zuzugreifen. Mit den IHB-Funktionen von Kyriba sind Sie in der Lage, interne Bankdienstleistungen für alle Ihre Geschäftsbereiche bereitzustellen. Mit unserer flexiblen Datenstruktur können Sie Ihre Konten, Geschäftseinheiten, Strukturen und Workflows individuell an Ihre Anforderungen anpassen. Wir bieten unseren Kunden effiziente Cash Concentration und effizientes Pooling – mit Unterstützung für Pools mit mehreren Währungen, für regulierte und nicht regulierte Strukturen sowie für mehrstufige Netting-Hierarchien. Funktionen und Vorteile einer IHB Mit Kyriba können Sie die Cash Visibilität und Kontrolle mit einem voll funktionsfähigen IHB‑Modul (In‑House Banking) verbessern, das einen besseren Zugang zu Cash-Pools ermöglicht und die Kosten der Beschaffungs- und Forderungszyklen insgesamt reduziert. Unsere Kunden lassen punktuelle und monatliche Salden hinter sich und erhalten stattdessen Echtzeit-Transparenz ihrer Liquidität. Das ermöglicht bessere Prognosen und fundiertere Entscheidungen. Unsere IHB‑Lösung steigert die Effizienz, indem physische Bankkonten reduziert und konsolidierte Berichte über regionale Treasuryoder Finanztransaktionszentren hinweg durchgeführt werden. Unabhängig davon, ob Pooling oder Cash Concentration direkt von der Bank oder intern verwaltet werden, bucht und verfolgt die Kyriba-Anwendung automatisch IHB‑Bewegungen in physischen und fiktiven Pooling-Strukturen. Hier die wichtigsten Funktionen: Pooling and Concentration Unsere Funktionen erhöhen die Sichtbarkeit und die Vorteile von zentralisiertem Bargeld in Echtzeit und schaffen ein rationalisiertes, effizientes Dashboard mit Einblicken in Ihr gesamtes globales Bargeld. IHB‑Transaktionen werden aus Cash- oder bargeldlosen Transaktionen erstellt. POBO-Vereinbarungen (Payments-OnBehalf-Of): IHB führt Zahlungen für Betreibergesellschaften aus und belastet die konzerninternen Konten dieser Gesellschaften. ROBO-Vereinbarungen (Receipt-OnBehalf-Of): Das IHB‑Bankkonto nimmt Zahlungen für Betriebsgesellschaften entgegen und schreibt sie auf deren konzerninternen Konten gut. Berichterstellung und Verfolgung in Echtzeit Zeigen Sie alle IHB-Salden nach Tochtergesellschaft und gegebenenfalls auch nach Währungspaar an. Tochtergesellschaften können sich über ihre internen und externen Salden, Kontoauszüge, Zinsabrechnungen und internen Geschäfte informieren Konzerninterne Darlehen Kyriba-Nutzer profitieren von fortschrittlichen Funktionen für Intercompany-Darlehen, die es Unternehmen ermöglichen, strukturierte Darlehensvereinbarungen mit flexiblen Kapitalund Zinskonditionen sowie die Planung von Darlehensereignissen zu verfolgen und zu berücksichtigen. Die gesamte Buchhaltung wird automatisch in das Hauptbuch übertragen und umfasst auch Rückstellungen und Abschreibungen. Zinsberechnungen Zwischen Holding- und Tochtergesellschaften werden marktübliche Zinsstrukturen verwaltet, um die Berechnung von Zinserträgen oder -aufwendungen für die innerhalb der IHB gehaltenen Positionen zu ermöglichen. Die Zinsen werden auf Grundlage marktüblicher oder interner Zinssätze berechnet – mit dynamischer Flexibilität zur Unterstützung komplizierter Zinsvereinbarungen. Für verschiedene Tochtergesellschaften werden separate Zinssätze verwendet, ebenso wie für Sollund Habensalden. Automatisierung des multilateralen Nettings Unterstützende multilaterale Netting-Module, die mit der Kyriba IHB zusammenarbeiten, verarbeiten Zahlungsströme mehrerer Unternehmen. Dazu gehören:

Kyriba’s Commodities Risk Management solution gives finance organizations the ability to track, value and generate accounting entries for commodities exposures and transactions, alongside FX and interest rate positions already supported in the platform. Kyriba...

Kyriba’s Commodities Risk Management solution gives finance organizations the ability to track, value and generate accounting entries for commodities exposures and transactions, alongside FX and interest rate positions already supported in the platform. Kyriba supports a full end-to-end workflow with Position Keeping, Market Valuations and Hedge Accounting. Position Keeping Kyriba supports position keeping for spot, forward and swap commodity instruments —and includes the ability to split swaps into forward strips for both manual and automatic hedge designations. Structured swap schedules, Asian fixings methods and approval workflows are also supported for commodities instruments. Kyriba Commodity Risk Value-driven Features Kyriba’s Position Keeping features include using Business Intelligence to create views of exposure forecasts and related hedges. Fixing application and approval, in addition to cash settlement approval with payment generation are supported. Forward curves are provided for valuations, mark to market and position reporting. Kyriba offers automatic hedge designation features, including support for partial-hedging. Kyriba supports market data integration from within the solution or from outside sources. Valuations Kyriba supports automatic mark to market valuations, calculated from integrated market data within the solution, or imported from outside sources. Market Data Kyriba supports a variety of market rates and curves in partnership with Refinitiv. Commodity curves include futures strips and optional spot points. Interest rate curves are used to discount future flows. Commodity fixings, spot and futures rates are also used for calculation of settlement amounts and forecasting of future settlement amounts to support cash forecasting. Redistribution of contributed rates from Refinitiv can be optionally subscribed. Hedge Accounting Kyriba supports derivative and hedge accounting for IFRS9 and ASC 815, with automated automated postings to your ERP or general ledger. Commodity hedges can be assessed and designated at a macro level—or using Kyriba’s new partial-term hedging feature. Users have the option of manual designation or have the system automatically match exposure items with deliveries within the strips of the derivative hedging transactions. This supports the assessment and management of hedge assignments at a granular level while allowing tracking of derivatives at the strip level by front office users. Business Intelligence and Dashboard Reporting Flexible and easy-to-customize reporting and visual dashboards deliver end-to-end insight about exposures and designated hedge activity and performance.   Learn more about Kyriba's solutions for commodities, valuation, and hedging. REQUEST A DEMO

Enterprise Liquidity Management (ELM) has emerged as a new practice area within the CFO’s and treasury professional’s remit to manage and execute the entire lifecycle of corporate liquidity—a specialized capability traditional Treasury Management Systems and ERPs are not able to deliver.

Enterprise Liquidity Management (ELM) has emerged as a new practice area within the CFO’s and treasury professional’s remit to manage and execute the entire lifecycle of corporate liquidity—a specialized capability traditional Treasury Management Systems and ERPs are not able to deliver. The ELM concept a purpose-built, dedicated Enterprise Liquidity Platform has emerged as the software solution suite required to do so. Key takeaways from the study include the following: From a corporate finance perspective, liquidity is the strategic resource necessary to deliver value and growth under any circumstance, including but not limited to maintaining solvency. Enterprise Liquidity Management provides diagnostic decision support intelligence on all liquidity transactions, then enables indispensable actionability and operational interconnectivity between internal and external systems. ELM is powered by the Enterprise Liquidity Platform, a fully integrated software suite (e.g., Treasury and Risk Management, a comprehensive Payments Hub, and Working Capital Finance solution sets) all of which are connected, integrated, and networked through Open APIs that provide indispensable, secure machine-to-machine automation between software applications. The result is that all cash and liquidity-related data and process workflows within the organization and its external finance ecosystem are unified into a “Golden Source” of intelligence and, then within the same system, made actionable as a strategic decision-making support system. Managing cash and liquidity across large enterprise ecosystems demands the support of a dedicated infrastructure engineered to overcome one of the most significant burdens to corporate finance: the proliferation of disjointed software applications. An ELM platform differentiates from traditional treasury management systems, extending visibility, security, and actionability across all of finance internally and externally beyond cash positioning and forecasting: the treasurer can understand multiple liquidity management scenarios and—directly from the platform—move and optimize liquidity to or from the right location at the right time. The goal of this paper is to inform the market that ELM has become a strategic practice area for CFOs, Treasurers, and other corporate finance leaders who understand the newfound urgency to leverage new technologies and techniques to capture opportunities and eliminate risks. Introduction Liquidity is the strategic resource necessary to deliver value and growth under any circumstance, including but not limited to maintaining solvency. The speed and complexities required of corporate finance leaders to manage cash and liquidity in realtime, however, and especially during market shocks such as the 2008 and Covid-19 crises, has surpassed the ability of humans to build better and better spreadsheets. Even the largest ERP and treasury management system providers struggle to deliver value in the new world where comprehensive, cross-functional liquidity management has become a board-level mandate. Aite-Novarica Group’s view is that emerging leaders in the space are thinking differently and developing new technologies to enable liquidity to be managed holistically as a new practice area within the CFOs purview. While from a conventional liquidity management standpoint almost every global and regional bank has the technology in place in the form of a web-banking portal, enterprise users expect to consume decision support data through transaction banking cockpits and portals developed according to standard business process flows and practices. These cockpits must be interoperable and interchangeable. Finance and treasury executives and managers don’t want any longer multiple web-banking user interfaces that require system experts to cut and paste highly-valuable financial data into “software soups”. Fintech players must develop and present technology solutions and software applications that support their corporate clients’ internal, strategic liquidity management objectives and, at the same time, allow the enterprise to meet external client needs. This thought leadership paper introduces the concept of enterprise liquidity management as a formalized practice area for corporate finance; it further analyzes the technological, process architecture, and execution workflow capabilities required to make it happen. Following, this paper develops the concept that corporations of all sizes and complexity aim to have all their subsidiaries on a central repository for cash and liquidity-related operations rather than on individual web-banking portals. The concept is similar to the idea of a self-contained infrastructure to manage liquidity, as if it were an “ERP for liquidity management”. The paper introduces Enterprise Liquidity Management as a new financial technology category. Methodology This thought leadership paper is based on desktop analysis and extensive examinations of various solutions used by treasurers to manage corporate liquidity. Using the life cycle steps of liquidity management operations as a benchmark, Aite-Novarica Group’s groundwork also included analyzing the limitations of currently available solutions. To validate the conclusions of the research, Aite-Novarica Group will refer to the findings of an analysis conducted on Kyriba’s Enterprise Liquidity Platform and on its impact on the corporate organization culture, business processes, IT performance, and its alignment with management’s goals1. The Liquidity Management Lifecycle and the Need to Unify Fragmented Systems Enterprise liquidity is the lifeblood of every business of any size. Considering the numerous definitions used to describe it, liquidity confirms to be a strategic resource for corporate chief finance officers (CFOs) to deliver value and growth under any circumstances including but not limited to insolvency. Enterprise executives know that information technology permeates business operations and is the most powerful tool for change. Corporate finance business units, however, appear not to be the most technically mature in the organization, so only enlightened corporate CFOs are at the forefront of corporate finance digitization to transform the way they leverage cash and liquidity to build resiliency, earn growth, and generate strategic value to customers, shareholders, and boards. If resiliency, growth, and value are the targets for corporate finance, the task is now for the CFO and his teams to practically meet such targets. To his/her rescue comes liquidity management: in times of crisis a proper management of the company sources and destinations of liquidity contributes to make the organization more resilient. At the same time the ability to manage corporate liquidity not only helps the company to survive but also sustains the value of the company through growth: value is generated when the company has proper funding to distribute dividends, buy back shares, and grow by investing in other avenues and controlling capital expenditures. Liquidity is the organization’s lifeblood, irrigating all internal functions and lines of business; as blood needs to be enriched with oxygen, liquidity needs to be enhanced by a complex external ecosystem, including banks, financial data suppliers and market places, and fintech players. Liquidity is also typically managed along different time dimensions. In long-term vision, CFOs grow and protect cash availability by operating financial transactions with multiple settlements. The most iconic of such transaction is drawing down a debt for cash. This triggers the long-term need to repay the debt at the end of maturity up until the final settlement. Another transaction with long-term financial repercussion is a hedge transaction that will take the company to enter in a swap with multiple settlements, maybe for the next two or three years. On the short-term execution, the corporate treasury office generates or consumes liquidity with cash transactions. Examples of cash transactions are one-off payments to a supplier, an employee, or an FX spot transaction. Between long-term financial transactions and short-term cash operations should stand strategic planning. Financial Planning and analysis (FP&A) that the CFO uses to understand what will be the budget for next rarely translates in terms of liquidity requirements and usually lacks critical data to ensure there is enough money: Should it be borrowed? How to hedge the risk? The budget fixed at the beginning of the year will inevitably move as time goes by. The necessary adjustments swing the pendulum from the very short-term treasury operations to the long-term forecasting of the outcoming liquidity. A bank that negotiates with a CFO will always ask the company’s liquidity plan for the next year, sometimes even several years ahead depending on the market segment the company operates in. This demands the treasury department and financial manager of each subsidiary to integrate their figures, usually on a monthly basis, into the centralized corporate FP&A view that gives the CFO the most updated and reliable liquidity profile of the company. Enterprise Liquidity Management - A New Practice Area in the CFO Suite Beyond closing accounts, the CFO’s constant focus is- hence- to know where liquidity comes from and where it can be allocated, and, with that intelligence, ensure its protection (from fraud and over-exposure) throughout. This requires more than a mindset shift towards prioritizing the strategic value of liquidity--it requires a purposebuilt layer of software to make it happen. We believe this combination constitutes the design and deployment of a new Practice Area. To start, Aite-Novarica Group suggests to measure the value of liquidity beyond the ordinary ‘cash and cash equivalents’ balance sheet item. This indicator may in fact be deceptive if not depurated from the component of the uncommitted drawn facilities. There is a possible risk that the lender may ask for the repayment anytime, and this scenario will vaporize the value of the borrower’s assets. On the other side, the value of cash and cash equivalents must be increased for the total value of the undrawn committed facilities the company can still access. These represent reliable and immediately accessible liquidity because the time to draw down such facilities in general is very fast, usually in the order of a couple of days. The example of the metric to gauge the real potential value of available liquidity is yet one of the many key capabilities a CFO should have available in the ELM Practice Area, a decision support system. At the back of these capabilities the CFO and the treasurer need a system that unifies the data scattered across a landscape of IT systems totally fragmented, the more disjointed the larger and complex the organization. Historically, the CFO suite has been an installed on-premise (almost monolithic) ERP sometimes combined with an equally monolithic treasury management system (TMS), now morphing into a composed set of a core solution (e.g., SAP, Oracle) and connected mission critical best-of-breed solutions such as payroll and benefits, budgeting and planning, order-to-cash, procure-to-pay, and risk management. The most recent trend sees companies shifting their IT infrastructure to the cloud with multiple objectives: constant innovation, business continuity for critical functions, or real-time flow of information while lowering the total cost of ownership of the underlying software and hardware infrastructure. A New Category: ELM Enterprise users expect to consume decision support data through interoperable and interchangeable cockpits and portals, developed according to standard business process flows and practices, typically provided by banks – or, through monolithic ERPs combined with an ever-increasing portfolio of specialized point solutions. Today, as we see the emergence of “composable” ERPs capable of providing value beyond simply recording transactions, there remains a major void in the marketplace. Corporations aim to have all their subsidiaries on a central repository for cash and liquidity-related operations rather than on individual and separated web-banking portals. The concept is similar to a self-contained infrastructure to manage liquidity and introduces to a new financial technology category: Enterprise Liquidity Management. Treasury has evolved from account management staff duties (e.g., reconciling cash every morning and putting cash in the right accounts) to a more strategic, cross-functional role, so corporate finance decision makers are receptive to ELM as the suite that enables companies with long-term vision to work with multiple liquidity structures and make autonomous and simultaneous decisions across use cases, particularly treasury. The next sections will provide detailed descriptions of the modules that constitute the ELM construct. At this point is important to capture the possible ELM use cases. As an example, the ELM construct allows the corporate user to drawdown from a credit line directly from their liquidity cockpit. Or, to recommend the corporate decision maker at what point does it make sense to go back to market and refinance. This makes it possible to look at external debt in a completely new way. Users don't want just to model cash, they want to make sure they can model all their cash flow deadlines. The ELM tools model and not just showcase. They are part of a set of open and scalable intelligent systems to come to decisions. From a conceptual standpoint, the ELM is a platform composed of three layers (Figure 1). FIGURE 1: THE THREE LAYERS OF THE ELM PLATFORM The first- the operations layer- groups the application modules to run treasury, payments, risk management, and working capital optimization. The connectivity layer is the second layer- and the raison d'être of ELM- that takes a standalone suite of rich software features to a system open to the world, thanks to the development and use of connectivity APIs. The composed infrastructure of two or three large ERPs that most large enterprises have today generates a portfolio of point solutions that can be best connected through an API architecture. This architecture enables not just the visibility of data, but the unification of that data, enabling the user to leverage AI for decision support. The third layer- the execution layer- makes it possible to analyze and understand the data exchanged between the connected systems, take the best decision using business intelligence capabilities, and leverage machine learning and artificial intelligence (AI) to turn information into decisions and- this is key- to execute directly from the corporate treasurer’s enterprise system.

Join 2021 AFP Pinnacle Award Winner HCSC to discuss how and why they transformed to become a data-driven treasury operation to support an overall business transformation.

Join 2021 AFP Pinnacle Award Winner HCSC to discuss how and why they transformed to become a data-driven treasury operation to support an overall business transformation.

Kyriba Delivers Enhanced Insights into Your Exposure Management and Hedging Programs with Correlated VaR Analysis Kyriba’s FX Hedging with Correlated VaR provides corporate FX risk managers with analytics and decision support tools designed to...

Kyriba Delivers Enhanced Insights into Your Exposure Management and Hedging Programs with Correlated VaR Analysis Kyriba’s FX Hedging with Correlated VaR provides corporate FX risk managers with analytics and decision support tools designed to help optimize hedging programs to continuously hit portfolio VaR targets in the most cost-effective way. This is really a very handy tool. It is really what we currently ask the bank to do for us, which, and my preference would be, to be able to do it ourselves.” Finance Leader, FX Risk Advanced Correlated VaR Analytics and Decision Support Kyriba’s Correlated VaR Analytics builds and expands upon Kyriba’s award-winning Exposure Management Solutions which automate the aggregation and calculation of our customer’s FX exposures. Now, Correlated VaR Analytics provides push-button insights into correlated Value at Risk across the currency pairs within your portfolio of exposures. With these expanded and greater insights, our customers make cost-conscious decisions on the specific currency pairs to hedge to achieve and meet portfolio risk targets. Kyriba’s FX Exposure and Risk Management solutions put control and insight at your fingertips with dashboards clearly showing your exposures and hedging opportunities across various risk parameters. Portfolio VaR Analysis – Create portfolio views or dive into targeted gross/net exposures while considering the cost of a hedge across specific currency pairs, portfolios 1,000 simulations are automatically run, to determine the top ten hedging scenarios that Risk Managers can analyze to determine what currency pairs to hedge and what the resulting net exposure and portfolio VaR will be Identify strategies to reduce costs and improve the efficiency of your exposure management and hedging programs Decision Management – User-defined parameters and filters enable you to apply different criteria to define how you want to manage to trade various currency pairs allowing you to support multiple exposure management and hedging strategies Trade – Enter & execute FX trades to deliver on your planned actions using Kyriba’s ability to automatically push trades to trading platforms such as FXall, 360T and Bloomberg Extensive reporting of exposure and balance components through detail & pivot reports All information contained herein is provided “as is” without a warranty of any kind and for promotional or informational purposes only. The information is not to be relied upon as a professional opinion in any manner whatsoever. The information contained in this fact sheet shall not be construed as professional advice and is not guaranteed to be accurate, complete, reliable, current or error-free. You accept and agree that following any information or recommendations provided within this fact sheet is at your own risk. Benefits at Your Fingertips • Advanced Correlated VaR Analytics brought in-house for more cost-effective hedging management & control • VaR correlations help optimize costs of your hedging program • Understand & lower your cost of hedging through better self-identification of opportunities • Optimize cost effectiveness of your hedging program • Increased competition across your banking / service providers • Optimize currency pairs to hedge, reduce trade volume • Multiple system-provided options for selecting hedging levels, confidence levels • Enter trades directly from the FX Risk Analysis menu set

In 2020, Cooke Aquaculture introduced Cooke Bank as a concept for centralizing its global liquidity and FX exposure. Between October 2020 and April 2021, a multi-layered, fully tax and transfer pricing compliant In-house Bank...

In 2020, Cooke Aquaculture introduced Cooke Bank as a concept for centralizing its global liquidity and FX exposure. Between October 2020 and April 2021, a multi-layered, fully tax and transfer pricing compliant In-house Bank (IHB) Solution was configured in Kyriba with a fully automated current-account relationship between treasury and operating units. “The primary goal of the in-house bank model was to internalize as many transactions as possible using the resources available in order to unlock liquidity.” Onaolapo Badejoko Treasury Risk Manager, Cooke Aquaculture Inc. Cooke Aquaculture has a robust growth strategy, including acquisitions and ongoing strategic search for development opportunities. The company’s global operations journey resulted in the need for Cooke to develop a Treasury function that would make cash a corporate resource across the enterprise and unlock liquidity. “Our in-house bank success story has led to a lot of cost savings. In terms of the payment factory rollout where all payments flow into one location, we now have control over when and how to pay, as well as over who gets paid. This has led to economies of scale, payment process efficiency, and full control over liquidity, group-wide.” Onaolapo Badejoko Treasury Risk Manager, Cooke Aquaculture Inc. Key Challenges with Legacy Processes • Decentralized Cash Management • Decentralized & manual payment processing • Poor access to surplus cash balances • Complex, manual processing of intercompany liabilities • Multi-layered fiscal structure • Decentralized FX Management Objectives of In-house Bank Project • Implement tax compliant, multi-layered in‑house bank structure • Unlock otherwise trapped liquidity • Reduce number of cash management banks and bank accounts • Real-time, multi-currency liquidity management • Reduction in transaction costs / external money flows • Integration with ERP to support payments • Centralization of FX exposure management • Robust management and tax reporting “Cooke’s in-house bank promotes centralization and standardization of payment processes while enhancing controls. Their streamlined payment process reduced costs, improved cash liquidity and visibility, and minimized risk while increasing productivity.” Craig Chapman Senior Manager, Actualize Consulting Key Take-aways for Successful In-house Bank Implementation Timing » Engaged early with internal accounting, tax and legal teams » Sequencing workflow efficiently was critical for Cooke’s successful implementation Standardization » Simple structures from an implementation, adoption and performance standpoint resulted in 100% accurate and automated accounting and reconciliation » Implemented a standardized process across all entities Clarity » Established clear project roles and responsibilities » Set a roadmap, project plan and stuck to deadlines and due dates Integration » ERP integration eliminated excessive manual input » Unlocked 20% of full-time employees in the financial shared service center for more strategiclevel work Benefits of Successful In-house Bank and Payment Factory Implementation In-House Bank • Administration of intercompany (cash) liabilities • Cooke Bank is the liquidity provider of the whole group Payment Factory • Payment process efficiency • Control over WHEN and HOW to pay or get paid Additional Synergies • Cooke Bank becomes the perferred “banking partner” of affiliates • Reduced bank fees   About Cooke Aquaculture Cooke Aquaculture Inc. is a vertically-integrated family company based in Blacks Harbour, New Brunswick, Canada with salmon farming operations in Atlantic Canada, the United States (Maine and Washington), Chile and Scotland, as well as seabass and seabream farming operations in Spain.

At KyribaLive 2022, David Deranek presented the following business case review that resulted in HCSC’s Technology Transformation and being awarded the 2021 AFP Pinnacle Award Grand Prize. “By elevating all these data proficiencies, treasury...

At KyribaLive 2022, David Deranek presented the following business case review that resulted in HCSC’s Technology Transformation and being awarded the 2021 AFP Pinnacle Award Grand Prize. “By elevating all these data proficiencies, treasury would be better able to make strategic decisions, using data to analyze the effectiveness of financial decision making. This would give treasury a bigger influence in the business enterprise, therefore making our treasury organization a true and dynamic strategic partner to the business.” David Deranek, Director of Treasury, HCSC The Mission: Use Data to Become an Agent of Change In 2018, HCSC’s treasury team embarked on a multi-year project and began operating under a new organizational mandate to provide an elevated level of strategic guidance to the CFO, Treasurer and Board of Directors. Treasury was given the opportunity to become an agent of change and an integral part in running the company’s operations by leading an enterprisewide transformation project: Deliver real-time BI analysis and unlock idle liquidity to better prepare the company to take action when a crisis hits. In order to do this, treasury initiaited a digital transformation project to unlock efficiencies and drive the business to profitability. The objectives were: Increase productivity Become more data-driven Increase business value “We realized every single aspect of the business was swimming in data, so as an organization we began asking “how can we think better with this data and how can we make better decisions as treasury professionals with this data” David Deranek, Director of Treasury, HCSC Become More Data-Driven by Upgrading Skills, Process Efficiencies, and Automation Technology In 2016, Kyriba’s TMS was implemented to centralize treasury functions. This first phase resulted in a more effective and productive treasury, but multiple independent financial platforms outside the TMS still existed, and data was siloed. HCSC knew they needed to unify these platforms to harnass all the data and drive more informed decisions. The Three Year Plan With Treasury’s mission in mind—to deliver strategic financial guidance , improve decision making, and increase agility to respond to new crises — HCSC set into motion a three year plan for data transformation. Year One Engage leadership with their teams and make recommendations for opportunities Maximize use of an in-house developed Treasury Enterprise Analytics & Reporting (TEAR) System Reallocate and repurpose staff resources for new strategic treasury functions Year Two Develop a maturity & capability scorecard Find production, process, and automation efficiencies Turn HCSC’s Treasury function into a true strategic consultancy Year Three Platform Optimization of TMS and interconnectivity to satellite treasury systems Bringing It All Together: Data Unification The Project to drive business intelligence and data-driven decision making was all connected into a home-grown tool called TEAR (Treasury Enterprise & Analytics Reporting) A data warehouse, consolidating data from disparate treasury system platforms API-enabled framework to integrate and unify external data sources Business intelligence & visualization solution, taking existing reporting framework from a system of record to a system of insight A treasury network (internal and external) to support treasury, forecasting, investment, accounting, actuarial, and corporate strategy teams Positive Business Outcomes Reduced VaR by Over 50 Percent in One Year Despite Significant Market Volatility. 97 Percent Real-time Visibility of Group Exposures. Visibility — 100% of enterprise cash, liquidity, financial exposures Investments — Unlocked $9B in investable capital for $40M/$155M in returns (doubling investment income) Forecasting — Reduced Tier 1 idle cash from $4.0B to $25M (90%) Responsiveness — Provided the ability to quickly pivot as Covid pressures required Productivity — Repurposed positions to assignments supporting new strategic functions. Technology did not eliminate jobs but gave people better ones!   The $320M Result Driving increased work satisfaction and career improvement for treasury personnel, Treasury directly added over $320 Million of value to HCSC’s bottom line. ABOUT HCSC HCSC is the 5th largest healthcare insurer in the U.S., operating as Blue Cross Blue Shield in Illinois, Texas, Montana, Oklahoma, and New Mexico in addition to 30+ operating subsidiaries, with 16 million health plan members and 24,000 employees.

Kyriba Value Engineering is a structured approach and a part of Kyriba's client engagement methodology to ensure customers have a clear path to successful business outcomes. What is Value Engineering? The Value Engineering process...

Kyriba Value Engineering is a structured approach and a part of Kyriba's client engagement methodology to ensure customers have a clear path to successful business outcomes. What is Value Engineering? The Value Engineering process starts at the initiative evaluation phase and remains active throughout its lifecycle to ensure clients are realizing the full potential and return of their Kyriba investment. This process is designed to help client organizations identify, understand, justify and realize business value from key cash and treasury management processes digitally enabled by Kyriba solutions. Value Engineering is offered to selected customers on a complimentary basis as a way to ensure agreed to business outcomes are achieved. The Kyriba Value Engineering team deploys over 200 customized client engagements annually. The Kyriba Value Engineering Lifecycle The three phases of the Kyriba Value Engineering methodology are: Value Discovery, Value Monitoring and Value Realization. Value Discovery Conducted early in the evaluation process. During this phase, Kyriba value engineers will work collaboratively with client teams, including an executive sponsor and key cash and treasury stakeholders, to identify key challenges, select and prioritize improvement opportunities, design the optimal solution, and develop a case for change, including financial returns, investment requirements and strategic benefits the organization can expect. Value Monitoring Post implementation, Kyriba will work with clients to define key success criteria, including leading and lagging indicators, adoption best practices to ensure they are achieving the business benefits they have agreed to during the Value Discovery phase. Value Monitoring engagements are designed to be short in duration and typically deployed once or twice a year, depending on customer preferences. Monitoring cadence typically takes place quarterly or semi-annually, depending on organizational preferences. Value Realization This phase is designed to help Kyriba clients evaluate success achieved, document best practices and business benefits, and identify the next cash and treasury management opportunities that need to be pursued to accelerate value creation. To ensure each client engagement is executed efficiently, Kyriba has invested in expert resources with deep management consulting, business process transformation, industry, finance, and treasury management experience. The team also uses state-of-the-art tools and processes to ensure relevant content, including financial benchmarks and industry best practices, is leveraged during each phase of the Value Engineering lifecycle. Create an Actionable Case for Change with Kyriba Value Discovery Assessment If you are interested in the Value Discovery analysis, we would like to extend a personal offer to you: leverage Kyriba Value Engineering methodology to develop an actionable business case to evaluate potential benefits of your cash and treasury management processes and identify the best improvement opportunities you should pursue. The entire process is designed to be quick, easy, insightful and collaborative. Here are the key steps of the Value Discovery process: Assess Baseline data collection: suppliers, terms, and AP aging Business process assessment with key stakeholders Validate Business process analysis review Benchmarking and target performance validation Program design steps Recommend Executive presentation to CFO or executive sponsor Validated case for change Recommendations Next steps and call to action More About Kyriba Value Engineering Kyriba Value Engineering is an organization dedicated to partnering with current Kyriba clients and prospective customers to explore, understand, prioritize, justify, monitor and realize business value from treasury management initiatives. Value Engineering follows a structured, well tested, non-intrusive and insightful process to uncover improvement opportunities and quantify expected returns while ensuring business benefits are achieved throughout the lifecycle of your project. The outcome of a Value Engineering engagement is a detailed, action-oriented plan that shows specific ROI and recommendations. Kyriba has leveraged this process with hundreds of major organizations worldwide, including Koch Industries, Lululemon, Macy’s, Rogers Corp. and many more. Interested In Learning More? To develop a strategy, business case or roadmap for treasury, request a Process Maturity Assessment today!

Hunt Companies is at the forefront of the Real-Time Payments (RTP) movement. Adopting the technology to lower bank wire fees and reducing the time spent correcting rejected payments has already provided significant gains in...

Hunt Companies is at the forefront of the Real-Time Payments (RTP) movement. Adopting the technology to lower bank wire fees and reducing the time spent correcting rejected payments has already provided significant gains in both hard and soft savings. “I am very happy to be pioneering Real-Time Payments with Hunt Companies, as I want us to be there when it is widely accepted by more banks and not have to play catch up. It benefits every business line across the organization as we can reduce bank fees substantially on payments.” David Miller, Treasurer & Sr. Vice President, Hunt Companies Key Challenges: The volume of payments processed by Hunt Companies monthly resulted in significant bank fees. With wire transfers, often the rejection notification of the payment would come hours – even days – after the payment was shown as complete. Significant time was spent by the department to research and resend failed payments. Real-Time Benefits of Real-Time Payments Reduces bank fees from $6 on average for a wire transfer to less than $1 for RTP, with a potential for much greater savings as more banks are added An impactful number of productivity hours gained per month by Hunt’s finance team no longer needing to research and re-issue failed wire payments In just 3 months, Hunt Companies has seen a 375% increase in number of payments using RTP month-over-month, a number expected to grow exponentially as more banks are added and transaction size limits are increased. While currently less than 10% of Hunt’s payments are made using RTP, transaction size limits were only recently raised to $1M, already making an impact for Hunt. David Miller, Hunt’s Treasurer & Sr. Vice President, is eager to see the transaction limit continue to increase and more banks adopt RTP. The Hunt® trademark is registered to its respective holder and use of the trademark does not imply any affiliation with Kyriba or Real-Time Payments (RTP). To the best of our knowledge, the information contained herein is accurate and reliable; however, we do not assume any liability whatsoever for the accuracy and completeness of the above information and make no warranties which extend beyond the description contained herein. Any information given in this statement does not constitute any warranty of merchantability or fitness for a particular use.

“During our implementation, we took the Big Bang approach of replacing our previous TMS, Payment Factory and many home-grown tools all at once. On Day 1 of “Go Live” we were successful in connecting...

“During our implementation, we took the Big Bang approach of replacing our previous TMS, Payment Factory and many home-grown tools all at once. On Day 1 of “Go Live” we were successful in connecting to our banks and making payments in over 20 currencies, with more than 250 users trained in 18 countries.” Scott PaulyTreasury Manager and Implementation Lead, Ingram Micro Inc. Day 1 Implementation Success Bank connections and payments in over 20 currencies Cash Management and Forecasting modules deployed for real time cash positioning and In-House Banking structure FX transactions seamlessly feeding from trading application Loan facilities and investment trading All data feeding upstream to financial reporting applications for enterprisewide visibility 250 users in 18 countries trained and operational at Go-Live for enterprisewide visibility   “Ingram Micro won the Implementation of the Year award for making the FX lifecycle into something that takes minutes per day instead of hours, and for making this highly complex and error prone process into something that runs like clockwork.” Leslie SlaterFounding Principal, 3PO Consulting, LLC

Hear first-hand from Kyriba clients how treasury transformation was realized through Kyriba’s innovation, technology and support. Treasury leaders at Specialized Bicycle Components, HealthCare Services Corporation, Cenveo Worldwide, Koch Industries, and LifeSpace Communities share their...

Hear first-hand from Kyriba clients how treasury transformation was realized through Kyriba’s innovation, technology and support. Treasury leaders at Specialized Bicycle Components, HealthCare Services Corporation, Cenveo Worldwide, Koch Industries, and LifeSpace Communities share their key challenges prior to implementing Kyriba, and highlight positive business results achieved with Kyriba. About Cenveo Worldwide Cenveo is the world leader in the management and distribution of print and related offerings, encompassing 20 facilities across the United States with a long history of delivering top value for customers. https://cenveo.com/ About Health Care Services Corporation Health Care Service Corporation (HCSC) is the fourth largest health insurer in the US, with revenues of $62 billion. A mutually owned company, it has 16 million health plan members, 20,000 employees and more than 30 operating subsidiaries. The treasury team, which consists of 41 people, is responsible for managing 14 bank relationships and more than 200 bank accounts. It also oversees $12 billion in cash management and investment assets, as well as $120 billion of cash transactions on an annual basis. https://www.hcsc.com/ About Koch Industries Koch Industries is one of the largest private companies in America. A diverse set of businesses and industries across the world work together to keep improving and exploring new ways to make life even better. https://www.kochind.com/ About LifeSpace Communities Lifespace Communities is a not-for-profit organization that owns and operates 14 continuing care retirement communities (CCRCs) in seven states, serving more than 4,700 residents and employing nearly 3,700 team members. https://www.lifespacecommunities.com/ About Specialized Bicycle Components Founded on the principle of performance and fueled by innovation, our focus on the rider and their needs is our constant. From seasoned pros and weekend warriors, to kids and commuters—if you ride, we’re for you. The passion we have for sharing our love of bikes with the world can be seen in those who choose to work here. Headquartered in Morgan Hill, CA, the passionate and creative teammates at Specialized have designed and manufactured the world's most innovative bikes and gear since 1974. http://www.specialized.com

Dana Farber Cancer Institute implemented Kyriba after years of operating cash management and accounting in an ad hoc manner: Doing what was necessary but relying on significant manual processes and disparate systems. Behind their...

Dana Farber Cancer Institute implemented Kyriba after years of operating cash management and accounting in an ad hoc manner: Doing what was necessary but relying on significant manual processes and disparate systems. Behind their industry peers in process maturity, Dana Farber worked with Kyriba to quickly change all that. “In all these areas we've grown from all manual based to full automation, providing 100% visibility for strategic decision making. We are looking at realtime and on-demand cash visibility for a strategic cash forecast we can continually fine-tune.” Gerry DiStefano, Director of Treasury, Dana Farber Cancer Institute Key Challenges: Heavy manual, excel-based model resulted in excessive, unstructured and disparate functions in Treasury and Accounting. Limited visibility into cash positioning within their ERP and across the organization, as updates were only done at the end of the month. Strategic decision-making was near impossible without real-time cash positioning and forecasts. Positive Business Outcomes from Kyriba: Fully automated, insight-driven processes resulting in 228 hours per month saved - an 83% productivity improvement across the organization. Kyriba is capturing 98.4% of accounting activities, with 82% of accounting rules mapped. $925K in annual value realized in cash optimization and productivity Value Realization: 228 Hours Per Month Kyriba’s Value Realization Assessment (VRA) enabled Dana Farber Cancer Institute to provide the current state review post Kyriba deployment, resulting in 83% productivity improvement, including but not limited to: Cash Accounting & Reconciliation: 121 hours saved per month (81% improvement), plus 100% productivity improvement on reporting and posting inter-company cash transactions, financial transactions and month-end market valuations Daily Cash Positioning: 58 hours saved per month; 92% improvement Short and Long Term Cash Forecasting: 49 hours saved per month; 82% improvement “It’s nice to be in the strategic performance sector with benefits realized across the organization.” Gerry DiStefano, Director of Treasury, Dana Farber Cancer Institute Annual Hard Savings of $652K Increased interest income by nearly $215,000 annually Improved strategic business investment to $437,500 annually

Working Capital Optimization is a strategic objective for CFOs as they fight to generate bottom line value and generate free cash flow. Kyriba offers CFOs two compelling benefits: the ability to improve working capital, as well as the opportunity to increase net income.

Working Capital Optimization is a strategic objective for CFOs as they fight to generate bottom line value and generate free cash flow. Kyriba offers CFOs two compelling benefits: the ability to improve working capital, as well as the opportunity to increase net income. Kyriba Delivers Multiple Early Payment Programs Kyriba offers both dynamic discounting and supply chain finance programs to improve financial performance. Dynamic Discounting programs reduce cost of goods sold through the direct discounts earned from suppliers, increasing net income while simultaneously improving the return on excess cash liquidity. Supply Chain Finance, also referred to as reverse factoring, facilitates term extension on payables, preserving cash for longer on the balance sheet and increasing free cash flow. Receivables Finance optimizes cash flow by allowing sellers to be paid early for unpaid receivables from customers. "Three years after the project began, the program has already exceeded Auchan’s original goals. We have over 15,500 suppliers on the platform, and financing requests rose by more than 47% in 12 months." — François Verrodde, CEO of Auchan Suppliers Advanced Platform (ASAP) Kyriba’s Working Capital solutions allow suppliers to be paid early in exchange for a discount or financing fee at a lower cost of funding than they can achieve on their own. Reduce Risk in the Supply Chain With many organizations under pressure to extend DPO by paying suppliers later, Kyriba’s Working Capital solutions allow suppliers to be paid early in exchange for a discount or financing fee at a lower cost of funding than they can achieve on their own. Early payment programs supported by Kyriba’s cloud platform allow an organization’s suppliers to improve their own working capital to increase production efficiencies and drive growth. What Is Important in a Supply Chain Finance Solution? To deliver successful global supplier financing programs, there are five key requirements: Expert Teams Supply chain finance solutions are as much a service as a platform. The vendor should help design the right program to meet specific KPIs, analyze spend and build a business case. Multi-Funder Platform Payables financing programs require diversification across lenders to deliver the required liquidity to the global supply chain and to support regional specialization. Program Flexibility The solution must support both dynamic discounting and supply chain finance programs, with the flexibility to modify business rules on the fly to meet the KPIs of an organization. Complete Workflow A comprehensive program must also include cash visibility, forecasting, payments and pre-built ERP integration. Supplier / Funder Onboarding To maximize participation, our portals are easy to understand, in the language of their choice, with feature-rich, intuitive reporting dashboards. Kyriba delivers an all-in-one Working Capital and Payments solution through our Enterprise Liquidity Network. Now, actionability for purchase orders and invoices can be delivered in a single global platform. Kyriba: Integration in a Single Platform Kyriba delivers CFO decision making, analysis and performance management tools in a single cloud portal. Kyriba clients benefit from a comprehensive financial platform. Kyriba Offers the Most Flexibility and Scalability Kyriba delivers an all-in-one Working Capital and Payments solution through our Enterprise Liquidity Network. Now actionability for purchase orders and invoices can be delivered in a single global platform. Connect local and international liquidity providers to leverage existing bank relationships or introduce new financing partners Integrate easily with ERPs for complete liquidity and payment workflows, automation of cash pool allocations and streamlined invoice settlement Adjust business rules easily through flexible configuration options by geography, by bank or individual suppliers Comprehensive reporting, dashboards and analytics to set objectives and monitor results Supplier portal and onboarding tools to maximize supplier participation

Kyriba helps companies manage their liquidity, through a unified set of innovative products across treasury, risk, payments, working capital and connectivity. The Kyriba Marketplace is an API-driven global liquidity network offering apps, data and...

Kyriba helps companies manage their liquidity, through a unified set of innovative products across treasury, risk, payments, working capital and connectivity. The Kyriba Marketplace is an API-driven global liquidity network offering apps, data and connectivity to our customers, partners and developers. Developer Portal The Kyriba Developer Portal is the hub for both clients and developer partners to access tools and guides in order to build or integrate new applications on Kyriba. Registration is free of charge with immediate access to: API catalogue API documentation via Swagger API samples on Postman Change logs Use case examples Forum, news and support App publishing on Marketplace App Marketplace Kyriba’s App Marketplace offers a quick path to expand and extend on a platform’s capabilities. With a deep understanding of financial leaders’ business needs, Kyriba forms partnerships with best-in-class fintech solution providers to innovate and enhance the Kyriba offering with new apps that shorten time to market. Examples of apps include: Connectivity Funding and Investments FP&A E-invoicing Supply Chain and Inventory Payroll The Kyriba Open API Platform The launch of the Developer Portal marked Kyriba’s first step towards its vision to create a marketplace, where Fintech partners, enterprise clients, and global banks are brought together to create a brand new experience for corporate finance, fully integrated on one open platform. While other providers may offer APIs as additional features, Kyriba has taken an API-first approach. Fintechs who join this rapidly expanding open liquidity network have over 2500 global enterprises as potential clients. Given the extensiveness of corporate finance use cases, including treasury and risk, payments, supply chain finance and connectivity, there are unlimited opportunities to monetize innovation. API Enabled Experience For corporate CFOs and CIOs, APIs enable the interconnection of multiple financial applications, workflows and datasets to make composable financial systems a reality. Examples of use cases enabled by API: AML and compliance Cash optimization Investment or trade management Supplier onboarding User and account orchestration Multi-ERP integration Fraud detection and security enhancement And many others

BASF creates chemisty for a sustainable future. They combine economic success with environmental protection and social responsibility. “With Kyriba, we implemented a tool that helped us achieve visibility into our global currency risk and...

BASF creates chemisty for a sustainable future. They combine economic success with environmental protection and social responsibility. “With Kyriba, we implemented a tool that helped us achieve visibility into our global currency risk and FX position with the touch of a button.” Roland Heisecke, Director Treasury Risk Management, BASF SE The BASF Challenge BASF’s former FX Management process was based on a regional, decentralized approach to exposure reporting and risk transfer to HQ, making it nearly impossible for treasury to accurately calculate and mitigate FX risk on a global perspective. Identifying the Right Solution Kyriba Risk Management provided BASF with the opportunity to implement a streamlined, automated and universal FX management process across every region. An Automated FX Risk Transfer (ART) tool was also developed to analyze the FX risk positions of BASF’s subsidiaries and automatically generate hedge deals to transfer risk from the entity to HQ. Measuring Success » Significant reduction of manual effort » Increased transparency - daily updated overview of FX risks » Aggregation of FX risks reduced hedging costs  

Moderne Betrugsversuche sind innovativ und entwickeln sich ständig weiter. Um diese Bedrohungen in den Griff zu bekommen, benötigen Unternehmen topaktuelle Erkennungs- und Präventionslösungen.

Moderne Betrugsversuche sind innovativ und entwickeln sich ständig weiter. Um diese Bedrohungen in den Griff zu bekommen, benötigen Unternehmen topaktuelle Erkennungs- und Präventionslösungen. In diesem E‑Book stellen wir Ihnen die häufigsten Betrugsrisiken in der aktuellen Unternehmenswelt vor und untersuchen die führenden KI‑basierten Tools, mit denen CFOs und CIOs Angriffe aufhalten können, noch bevor sie passieren. Wir bei Kyriba kennen die Gefahren, die Cyberkriminelle für das Geld Ihres Unternehmens darstellen. Im Folgenden sehen wir uns an, auf welche Weise wir unsere Kunden schützen, und teilen unser Wissen mit Ihnen. Tools wie künstliche Intelligenz (KI), Machine Learning (ML) und Application Programming Interfaces (APIs) sind echte Gamechanger im Kampf gegen Betrug. Wir nutzen diese Technologien bereits – und das sollten Sie auch. Betrug im Wandel Betrugsrisiken haben mit der Coronapandemie exponentiell zugenommen, im Homeoffice konnten die strengen Sicherheitsprotokolle vom Unternehmen nur sehr schwer umgesetzt werden. Laut einer KPMGStudie 2022, bei der über 600 Führungskräfte befragt wurden, hat die Umstellung auf Remote-Arbeit das Betrugsrisiko gesteigert und die meisten Unternehmen haben im letzten Jahr Betrugsfälle erlebt. Betrugsausblick Quelle: KPMG Fraud Outlook 2022 Die Verluste, die sich aus Betrugsfällen ergeben, sind signifikant. Die Befragten verzeichneten 2021 einen durchschnittlichen Gewinnverlust von einem Prozent aufgrund von Betrug und fehlender Compliance. Und je größer das Unternehmen ist, desto mehr Kriminelle werden es angreifen. Es braucht Investitionen und Aufmerksamkeit Die Pandemie wird in absehbarer Zeit nicht enden, sondern es Unternehmen weiterhin erschweren, mittels eines effektiven Betriebs- und der richtigen Personalplanung der immer größeren Betrugsgefahr zu begegnen. Daher überrascht es, dass mehr als die Hälfte der Befragten nicht vorhaben, ihre Budgets für Investitionen in Betrugsbekämpfungsmaßnahmen anzupassen. Da jedoch derzeit weniger als die Hälfte der Unternehmen über Programme zur Prävention, Erkennung und Abwehr von Betrugsversuchen verfügt, ist es offensichtlich, dass größere Investitionen in den Betrugsschutz absolut erforderlich sind. CFOs, Treasurer und CIOs benötigen ganz klar ein umfassenderes Abwehrsystem in Form einer neuen, führenden, automatisierten KI‑basierten Art der Betrugserkennung. Allgegenwärtige und immer neue Betrugsrisiken Betrug per Business Email Compromise (BEC) stellt auch weiterhin ein riesiges Problem für Treasury- und Finanzabteilungen dar. BEC‑Angriffe beginnen in der Regel damit, dass ein Mitarbeiter eine dringende E‑Mail erhält, die scheinbar von einem Mitglied der oberen Führungsebene stammt und in der eine Geldüberweisung angefordert wird. In Wahrheit imitiert der Angreifer jedoch eine legitime E‑Mail-Adresse. Hierzu verschaffen sich Kriminelle in der Regel per Phishing Zugang zum E‑Mail-System des Unternehmens. Eine Abwandlung dieser Betrugsart umfasst E‑MailRechnungen, die scheinbar von einem häufig genutzten Lieferanten stammen und in denen die Zahlungsanweisungen aktualisiert werden. Laut der Cyber Division des FBI haben die Verluste durch BEC‑Angriffe zwischen 2019 und 2020 um 5 % zugenommen – mit über 1,7 Milliarden US‑Dollar Verlust in 2019 und über 1,8 Milliarden US‑Dollar Verlust in 2020. Scheck- und Überweisungsbetrug bereitet Treasury- und Finanzabteilungen auch weiterhin Kopfzerbrechen, da diese Zahlungsmethoden am anfälligsten für Betrugsversuche sind. AFP fand in einer Studie heraus, dass 66 % bzw. 39 % der Finanzexperten 2020 Betrugsaktivitäten unter Verwendung dieser beiden Zahlungsarten gemeldet hatten. Scheckbetrug nimmt jedoch seit einigen Jahren konstant ab, da immer weniger Unternehmen Schecks für B2B‑Zahlungen einsetzen. Deepfake-Stimmbetrug ist eine verhältnismäßig neue Angriffsmethode, die sich jedoch als äußerst effektiv erwiesen hat. Bei dieser Betrugsmasche setzen Kriminelle in Telefonaten Deepfake-Stimmtechnologie ein. Diese Software kann die Stimme einer Person allein anhand eines kleinen Audioclips imitieren. Deepfake-Angriffe haben im letzten Jahr internationale Aufmerksamkeit erregt, als bekannt wurde, dass Betrüger mit dieser Methode 35 Millionen US‑Dollar von einer Bank gestohlen hatten. HÄUFIGE SCHWACHSTELLEN IN UNTERNEHMEN Ransomware-Angriffe , sind zwar technisch gesehen kein Betrug, doch sie stellen dennoch eine allgegenwärtige Gefahr für die Systeme und Bankkonten von Unternehmen dar. Bei einer Ransomware-Attacke wird das interne System eines Unternehmens infiziert (in der Regel über Phishing) und vom Angreifer übernommen. Benutzer werden aufgefordert, ein Lösegeld zu zahlen, wenn sie nicht dauerhaft aus ihren Systemen ausgeschlossen werden wollen. Ransomware as a Service (RaaS) ist die neueste Entwicklung in diesem Bereich. Hierbei verkaufen oder vermieten Entwickler ihre Ransomware-Exploits an Kunden, die sie dann ganz einfach auf ihre unglücklichen Opfer loslassen können. Tools zum Schutz vor Betrug Um moderne Bedrohungen wirksam zu bekämpfen, sollten Betrugspräventionslösungen folgende Funktionen bieten: Automatisierte Zahlungsprozesse zur Standardisierung von Kontrollen Echtzeitscreening sämtlicher Zahlungsdaten zur Erkennung verdächtiger Transaktionen Benutzerdefinierte Zahlungsscreening-Regeln Lösungsworkflow zur Untersuchung verdächtiger Zahlungen Option, um zu verhindern, dass Benutzer, die gegen eine Zahlungsregel verstoßen haben, gewarnt werden Überwachung des Status und der Priorität von Alarmen in einem KPI‑Dashboard Moderne Lösungen zur Erkennung von Zahlungsbetrug, wie z. B. das Payment Fraud Detection-Modul von Kyriba, bieten diese Funktionen und mehr. Screening, Alarme und Benachrichtigungen in Echtzeit Mit der Zunahme von Same‑Day- und Echtzeit-Zahlungssystemen sind auch Echtzeitreaktionen auf Betrugsversuche immer wichtiger geworden. Moderne Software für Betrugserkennung nutzt künstliche Intelligenz (KI) und Machine Learning (ML), um Zahlungen anhand von Verlaufsdaten zu screenen und Anomalien zu erkennen. Durch die Bereitstellung vollständiger Daten ermöglichen solche Lösungen eine datenbasierte Entscheidungsfindung. So bestimmt beispielsweise die Lösung „Payment Fraud Detection“ von Kyriba die Refelmäßigkeit jeder Zahlung – egal, ob automatisiert oder manuell – und kennzeichnet solche mit geringer Refelmäßigkeit. Die Lösung stellt Einblicke in die Variablen bereit, mit denen die ZahlungsrRefelmäßigkeit festgelegt wird. So können Benutzer einsehen, warum etwas als Anomalie eingestuft wurde. Und der vielleicht größte Vorteil für Benutzer besteht darin, dass Prozesse in keiner Weise verlangsamt werden – trotz der gesteigerten Transparenz der Zahlungsdaten. Zahlungen können aus verschiedenen Gründen als Anomalie gekennzeichnet werden: hohe Anzahl von Zahlungen desselben Dritten Zahlungen mit ungewöhnlich hohen Beträgen Zahlungen an Länder, die laut Unternehmensrichtlinie unzulässig sind verdächtige Änderungen an Zahlungen, die aus einem ERP importiert werden Zahlungen an ein Bankkonto, das von mehreren third parties verwendet wird doppelte Zahlungen Nachdem die Datenwissenschaftler von Kyriba mehrere MachineLearning‑Modelle getestet hatten, wählten sie zwei Lösungen aus, um Unregelmäßigkeiten in Zahlungen zu erkennen. Isolation Forest Ein Isolation-Forest-Modell ist ein unüberwachter Algorithmus, der nach dem Prinzip der Isolation von Anomalien arbeitet – anomale Instanzen in einem Datensatz sind tendenziell leichter vom Rest der Stichprobe zu trennen. Im folgenden Beispiel sehen wir, dass die Isolation von Anomalien im Vergleich zu den Normalpunkten weniger zufällige Partitionen erfordert: Generative Adversarial Network Ein Problem, auf das viele Machine-Learning-Modelle bei der Betrugserkennung stoßen, sind die fehlenden Daten in diesem Bereich. Die meisten Unternehmen haben bisher keinen signifikanten Zahlungsbetrug erlebt, weshalb es ihnen an umfangreichen Stichproben fehlt. Andere waren vielleicht Opfer von Zahlungsbetrug, aber können oder wollen keine Details nennen. Das Trainieren von KI‑Modellen gestaltet sich also schwierig, da Tools zum Schutz vor Betrug (Fortsetzung) Algorithmen nur aus guten Zahlungen und – im besten Fall – aus einer Handvoll schlechter lernen können. Generative adversarial networks (GANs) können dieses Problem lösen. Ein GAN ist ein Deep-Learning-Modell, das zwei separate neuronale Netze gegeneinander antreten lässt. Ein Netzwerk (der Generator) vermischt echte Daten mit synthetischen und versucht so das gegnerische Netzwerk (den Discriminator) auszutricksen. Kyriba erstellt ein „Betrüger“-Netzwerk (den Generator), das synthetische betrügerische Transaktionen in Zahlungen versteckt, die gemäß Kundenverlauf legitim sind. Dann geht ein „Polizei“-Netzwerk (der Discriminator) die Daten durch und trennt die unzulässigen Transaktionen von den richtigen. Indem das Betrugserkennungsmodell mithilfe dieser konkurrierenden Netzwerke trainiert wird, kann Kyriba betrügerische Transaktionen in Echtzeitdaten besser erkennen. Generative Adversarial Network (GAN) Model Dashboards Dashboards können so eingerichtet werden, dass sämtliche verdächtigen Zahlungen angezeigt und in der Lösung priorisiert werden – anhand von Faktoren wie Erkennungsregeln, Risiko, Anzahl von Vorfällen und einer Scorecard zur Betrugserkennung. Dashboards bieten autorisierten Benutzern ganzheitliche Einblicke in sämtliche Zahlungsscreenings und können ausstehende Aktionen effizient handhaben. Workflows zur Betrugsprävention Moderne Module zur Verhinderung von Zahlungsbetrug unterstützen auch vollständig automatisierte End-to-End-Workflows zur Handhabung ausstehender verdächtiger Zahlungen. Darüber hinaus können Benutzer festlegen, wie die einzelnen erkannten Zahlungen gemanagt werden sollen, und dabei die Aufgabentrennung zwischen Veranlasser, Genehmiger und Prüfer einer erkannten Zahlung durchsetzen. Prüfer können nach Zahlungsregel und spezifischem Szenario bestimmt werden (z. B. prüft der Treasury-Manager Zahlungen unter einer Million US‑Dollar, während Zahlungen über einer Million an den Treasurer gehen). Außerdem können auch Mitarbeiter abseits der TreasuryAbteilung mit der Prüfung bestimmter erkannter Zahlungen beauftragt werden. Berichterstellung und Audit Trails Führende Technologielösungen können gewährleisten, dass erkannte Zahlungen dauerhaft im System verfolgt werden – für tägliche, monatliche oder jährliche Berichte. Der Verlauf wird nie gelöscht und sämtliche Details verdächtiger Transaktionen, darunter auch der Audit Trail erkannter und gehandhabter Aktionen, werden für immer zwecks interner und externer Berichte aufbewahrt. Zahlungshubs Mit einem Zahlungshub, b können Unternehmen über einen zentralen Ort auf all ihre Betrugsschutz-Funktionen zugreifen. Zahlungshubs konsolidieren Zahlungsströme aus ERPs, Finanz- und Rechtsabteilungen, Treasury, Kapitalmarkt und dezentralen Teams und verwandeln so disaggregierte Prozesse in eine zentrale Datenquelle für sämtliche ausgehenden Zahlungen. Ein Zahlungshub transformiert außerdem Zahlungsdaten in bankenspezifische Dateiformate und stellt mithilfe verschiedener Protokolle, darunter Host-zu-Host, SWIFT und regionale Netzwerke, direkte Verbindungen zu globalen Banken her. Durch Integration von Zahlungen aus ERPs oder anderen Systemen kann die gesamte Zahlungsumgebung eines Unternehmens in einem einheitlichen, risikobasierten Framework zur Betrugsprävention untergebracht werden. Mit API‑basierten Verbindungen und Integrationen in einen Workflow zur Genehmigung und Betrugsprävention werden die Kontrollen verbessert und lassen sich ganz leicht verwalten. Betrugsschutz per Zahlungshub Matrix mit Lösungen zur Betrugsabwehr Treasury- und Finanzmitarbeitern stehen viele Tools zur Betrugsprävention zur Verfügung. Die folgende Liste bietet eine Übersicht einiger wichtiger Funktionen, mit denen moderne Tools Betrugsrisiken mindern. Tabelle mit Lösungen zur Betrugsabwehr Lösung Wichtige Schutzmaßnahmen Funktionen Szenarien der Betrugserkennun Vordefinierte Erkennungsregeln Kennzeichnet ungewöhnliche Zahlungen zur weiteren Prüfung Regeln können einfach angepasst oder neu erstellt werden Echtzeitscreening KI-/ML-Dashboard Screent Zahlungen anhand von Zahlungsverlaufsdaten Zeigt sämtliche verdächtigen Zahlungen an und priorisiert ihre Lösung Workflow zur Betrugsprävention Vollständig automatisierter Workflow Ermöglicht Benutzern die Handhabung ausstehender verdächtiger Zahlungen Bietet Benutzern die Möglichkeit festzulegen, wie Zahlungen gemanagt werden sollen Setzt die Trennung von Aufgaben rund um erkannte Zahlungen durch Weist Prüfer nach Zahlungsregeln und spezifischem Szenario zu Ermöglicht es, Mitarbeiter außerhalb der Treasury-Abteilung zur Zahlungsprüfung zuzuweisen Bietet eine Option, um Alarme vor Veranlassern/Genehmigern einer Zahlung zu verstecken Ermöglicht szenariobasierte Stopps von Zahlungen, bis diese auf gelöst wurden Bietet eine Umgehungsoption für Zahlungen mit niedrigen Werten Richtet abgestufte Genehmigungen ein Berichterstellung und Audit Trails Umfassendes KPI‑Reporting Erkannte Zahlungen werden dauerhaft im System verfolgt Der Verlauf wird nie gelöscht APIs: Die Zukunft der Betrugserkennung Echtzeitzahlungen, die sich immer stärker verbreiten, erfordern den Einsatz von APIs. Mithilfe dieser Technologie können zwei oder mehr Softwareanwendungen über interne oder externe Server hinweg kommunizieren. Durch offene Verbindungsprotokolle, mit denen Drittanbieter ihre Technologielösungen entwickeln können, ermöglichen APIs Echtzeitzahlungen in der Unternehmenswelt. Die alte Methode per Dateiübertragung ist einfach zu langsam, um Daten in Echtzeit zu übertragen. Und da Zahlungen, die einmal per Echtzeittransaktion überwiesen wurden, nicht mehr aufgehalten werden können, muss Betrug bereits im Genehmigungsprozess erkannt und verhindert werden. Durch die Implementierung von APIs in Ihre Zahlungsplattform können Benutzer Bankkonto-Validierungen und Zahlungsrichtlinien-Screenings vollständig automatisieren und automatisch Ausnahmen erkennen. APIs können Zahlungen sofort mit Drittanbieterdaten abgleichen. So kann beispielsweise sichergestellt werden, dass Zahlungsempfänger nicht auf Sanktionslisten stehen oder dass das Bankkonto auch wirklich dem Empfänger gehört, an den Ihr Unternehmen Geld senden will. Indem Sie APIs in Ihre Zahlungsplattform implementieren, kann Ihr Unternehmen nicht nur in Echtzeit auf Drittanbieterdaten zugreifen, sondern sie auch in Echtzeit abgleichen und Ausnahmen handhaben. Ungewöhnliche Zahlungen werden zur weiteren Prüfung unter Quarantäne gestellt, während normale Zahlungen wie gehabt verarbeitet werden. Erkenntnisse und Fazit CFOs und Treasurer brauchen heutzutage umfassende Zahlungskontrollen, um moderne Betrugsrisiken in den Griff zu bekommen – und dazu zählen neben künstlicher Intelligenz und Machine Learning auch APIs. In Unternehmen gibt es drei Bereiche, durch die sie anfällig für Betrug sind: technische Systeme, Prozesse und menschliches Versagen. Moderne Bedrohungen umfassen BEC‑Angriffe, Scheck- und Überweisungsbetrug, Deepfake-Stimmfälschung und Ransomware. Auf der anderen Seite stehen Technologien zur Betrugsbekämpfung, wie z. B. Erkennungsregeln, Echtzeitscreening, -alarme und -benachrichtigungen, Workflows zur Betrugsprävention, Berichterstellung und Audit Trails sowie Zahlungshubs. Während sich Bedrohungen immer weiterentwickeln, müssen Treasury- und Finanzteams ihr Bewusstsein für diese Bedrohungen schärfen. Möchten Sie erfahren, wie Sie Programme zur Erkennung von Betrug im Zahlungsverkehr und zur Reaktion auf Vorfälle aufbauen können, um den Schutz von Anfang bis Ende zu maximieren? Sehen Sie sich dieses On-Demand-Webinar an. Cybersecurity- und Betrugsexperten von Corelight und Kyriba erläutern Strategien zur Betrugsabwehr.

Technology platform is key to support rapid growth in the PRC The Challenge Statements of more than 130 bank accounts required manual download from excel. The cash account types had to be manually marked...

Technology platform is key to support rapid growth in the PRC The Challenge Statements of more than 130 bank accounts required manual download from excel. The cash account types had to be manually marked on bank transactions details. It took 15 days to convert a cash flow report and the accuracy of the reports varied based on human coding errors. Cash management was fragmented and there was no cash planning with a lack of visibility on the global cash position. "By mastering cash flow trends of each business unit and combining actual business needs, we now have intelligent cash forecasting and variance analysis data to equip the team to maintain stable cash flow." An Shuang, Head of Treasury, Aihuishou International Co Ltd The Solution The company determined it needed to invest in its treasury team, improve its processes and implement a modern treasury solution. Initial requirements included the ability to centralise all bank accounts onto a single platform to reduce manual errors, gain time and efficiency, and the ability to improve cash management with real-time visibility of cash positions and balances and support expanding business overseas. Best Practice and Innovation The team required real-time, accurate data reporting for cash forecasting and positioning. Partnering with Kyriba empowered the team with a centralised cash management solution that delivered a daily cash report with regional and group level analyses. ESG is crucial to Aihuishou as it has two main businesses – mobile phone recycling and recycling of recyclable waste of residential life, which have made great contributions to environmental protection in China and around the world. Faced with the challenge from investors of financing ESG programmes with heavy fixed assets investment (CNY1bn), the treasury team solved this problem with lease financing. It reduced the big investment on fixed assets and strengthened their business and financial structure at the same time. Aihuishou has taken giant steps in the PRC with its technology platform partner. Its next step is to connect network payments (eg Alipay, WeChat payments and other third-party payments) to the platform to enable a large amount of transaction funds out of bank accounts into the payments hub to gain more financial control, advanced fraud protection and intelligent management of payments. While bottom line value is clearly a priority for Aihuishou, evidenced by the valuation the market placed on its initial public offering (IPO), the treasury team also prioritises ESG as a function of their treasury culture and ambition to build value across the enterprise. "Kyriba is very happy to congratulate our client, Aihuishou International Company, for being recognised as a best in class treasury solution in the People’s Republic of China. Kyriba is honoured to support Aihuishou’s global treasury operations and help modernise their cash, liquidity and treasury processes. By centralising visibility and optimising liquidity, the Aihuishou team has transformed into a world class treasury and is an example for others to follow, as treasury improves visibility, controls and productivity to unlock liquidity and drive business value across their organisations. Congratulations to the entire Aihuishou treasury team on your success.” Bob Stark, Global Head of Market Strategy, Kyriba Key Benefits 200+ domestic and overseas bank accounts centralised and managed on the platform, enabling real-time visibility into daily cash positions and balances. 400% improvement in cash flow reporting time from 15 to three days. Stabilised cash flow from intelligent cash forecasting and analyses that generated multiple ‘what if’ cash flow scenarios. Secured six months of cash stability with reliable cash positioning – gained valuable recognition from investors and capital markets. A fair, transparent, and secure supply chain finance (SCF) system has been established to support the enterprise’s vast e-business. CNY1bn reduction of fixed assets through a financial leasing method to support the enterprise’s light internet business.

Crucial Role of SMEs for Global Economic Development With Supply Chain issues creating shortages across the globe, it is more and more evident that SMEs impact economic development for a broad spectrum of countries....

Crucial Role of SMEs for Global Economic Development With Supply Chain issues creating shortages across the globe, it is more and more evident that SMEs impact economic development for a broad spectrum of countries. "There has been a clear and decisive global shift to trade on open account terms. This shift is led by larger corporations and well accepted by SMEs because of lower costs, less processing time and its enhanced attractiveness to buyers."   Role of Small and Medium Businesses in Economy and Development SMEs are the backbone of economies and societies. They play a crucial role in a country’s overall production and are core to sustainable socioeconomic development. All over the world, there is growing evidence of the significant impact of SMEs in both developed and developing countries. Small and medium-sized businesses are important contributors to employment creation, value creation, poverty alleviation and income generation. They represent about 90 percent of registered businesses worldwide, contributing to more than 50 percent of employment globally (World Bank). In Organization for Economic Cooperation and Development (OECD) member countries, SMEs are the predominant form of enterprise, accounting for approximately 99 percent of all firms and about 70 percent of jobs on average, and are major contributors to value creation, generating between 50 percent and 60 percent of value added on average (Figure 1). Figure 1: SMEs account for the bulk of employment in the most affected sectors (OECD 2021) According to the World Trade Organization, which draws its finding from empirical studies and data sources, and the European Commission, the median GDP contribution of small and medium-sized businesses is 45 percent (55 percent in developed countries, 35 percent in developing countries). SMEs also feature prominently in the UN Sustainable Development Goals, which encourage the growth of these businesses in order to promote inclusive and sustainable growth, full and productive employment, and reputable work for all. "Globally more than half of the requests made by SMEs for trade finance are rejected, compared to only 7 percent for multinational companies."   Support Needed for SMEs Most SMEs, including new, innovative and fast-growing firms, remain heavily reliant on internal resources and traditional bank debt. According to a study by the World Trade Organization10, globally, more than half of the requests made by SMEs for trade finance are rejected, compared to only 7 percent for multinational companies. All of these facts signal the need to support SMEs with solutions beyond the traditional policies and stimulus support that governments and development banks have been providing. This call to action beyond traditional measures is even more essential in today’s COVID-shaken world that is being forced to adapt to a “new normal.” "According to the ICC Global Survey, supply chain finance is one of the innovations most likely to change the trade finance industry.12"   Supply Chain Finance for SMEs Traditional bank-guaranteed trade finance solutions such as letters of credit and guarantees have been used extensively in the past. However, these solutions are criticized because of required tedious and cumbersome administrative processes as well as significant stress on balance sheets. One of the rising stars in the open account universe is payable supply chain finance, also known as reverse factoring. This solution helps to liberate capital tied in the working capital cycle of buyers and suppliers by enabling suppliers to be paid early while allowing the buyer to maintain, or extend, its payment terms. A supplier usually has to invest upfront capital to purchase raw materials, manufactured goods and deliver goods to the buyer before receiving the payment at the negotiated payment timing. As we discovered earlier, the state of access and cost of this capital for SME suppliers is inequitable. A payable supply chain finance (SCF) solution helps suppliers gain access to capital – most likely at a much lower rate – without waiting for buyers to make payments on invoices. An SCF program is established by a buyer for its suppliers with the help of financial institutions and SCF technology providers. Depending on its own corporate objectives and payment terms benchmarked against market standards, the buyer optimizes its payment terms with suppliers. In order to prevent any negative impact of the new payment terms on its supplier, the buyer makes the approved invoices of the goods and services it purchased available for financing on the SCF platform. The suppliers are then able to “sell” approved invoices of the buyer to the financial institutions partnered by the buyer on the platform. This way, the supplier gets paid right away on the invoices they select on the SCF platform rather than waiting for payment terms to mature. When the invoice comes to its optimized full term, the buyer pays the full amount to the financial institution that now owns the invoice. The invoices are financed at a discounted rate that is based on the credit risk of the buyer instead of that of the supplier. Generally, this discount rate is much cheaper than what a supplier could get on their own from banks, especially if the supplier is an SME or in a developing market. This is why, even with extended terms, suppliers are more likely to have lesser financing costs than they might have to incur with existing payments and their own credit profile. In addition to payment term optimization, buyers leverage SCF programs to achieve other objectives such as strengthening relationships, supporting suppliers and incentivizing suppliers to support sustainability.

“Kyriba provided a great tool that allowed us to delever nearly 30% just by knowing where our cash was, where it was needed, and getting it there in the most efficient manner, eliminating needless...

“Kyriba provided a great tool that allowed us to delever nearly 30% just by knowing where our cash was, where it was needed, and getting it there in the most efficient manner, eliminating needless borrowing. We are a very satisfied client. We utilize Kyriba every day. Kyriba is one of the easiest and most robust applications I have ever used.” Morty Mandel, Director of Finance Operating in over 25 countries, Bray International found themselves in spreadsheet chaos, with limited visibility into global cash positions, resulting in inefficient processes and needless borrowing. With Kyriba, they saw immediate deleverage results and value realization in global visibility and standardized forecasting, with significant gains in productivity. Before Kyriba Decentralized processes using multiple Excel spreadsheets Limited cash visibility resulting in needless borrowing. Non-standard cash forecasting Cumbersome and loss of confidentiality in payments Positive Outcomes with Kyriba Global and centralized visibility into cash positions Standardized cash forecasting Better utilization of cash to service debt Drastically reduced error rate Robust security and confidentiality Improved GL Reconciliation speed and accuracy Modules Implemented Cash Management Cash Forecasting Cash Accounting Financial Transactions Payments GL Reconciliation What’s Next Payment Factory FX Risk Management » 97% productivity gains in reconciliation processes » 30% deleverage even through Covid

Kyriba’s Financial Transactions modules support the tracking and management of debt, foreign exchange, interest rate and investment transactions through a centralized dashboard available to the treasury team and other departments. Kyriba’s Financial Transactions modules,...

Kyriba’s Financial Transactions modules support the tracking and management of debt, foreign exchange, interest rate and investment transactions through a centralized dashboard available to the treasury team and other departments. Kyriba’s Financial Transactions modules, as part of Kyriba’s Treasury Management System, provide complete workflows and flexible reporting capabilities across all transaction types, meeting your organization’s specific needs both today and into the future. Kyriba offers a centralized dashboard of all financial transactions managed by the treasury team to provide 100% visibility and the productivity tools to improve the efficiency of deal tracking, portfolio management, settlements, accounting and reporting.   The lack of visibility into an organization’s investing and borrowing can leave the treasury department feeling exposed to risk and possible fraud, so it is imperative that the process of tracking and managing the organization’s financial transactions facilitate simple and automated workflows to not burden the productivity of an already busy staff. Financial transaction activities should also be integrated with other functions, such as cash position, cash forecasts and payments in order to have complete, timely and accurate visibility. Key Capabilities: Debt, FX, IR derivatives, investment transaction tracking and management Kyriba Market Data option via SIX Telekurs Seamless integration with Kyriba modules Multi-currency translation Document attachment and audit trails Powerful reporting capabilities Security: ISO27001 Certification SOC 1 and SOC 2 compliant Redundant disaster recovery Encryption, authentication and administration Audit trails Reporting: Modifiable dashboards with hundreds of pre-delivered and configurable reports Automated report delivery PDF, Excel and HTML formats Distribute reports via email Kyriba’s Financial Transactions modules deliver a comprehensive set of capabilities that enables clients to easily manage and track a broad set of financial transactions. Kyriba delivers the control that treasury departments require, with tracking, management and valuation – all seamlessly integrated with accounting and other treasury functions through Kyriba’s leading cloud platform. Kyriba’s Financial Transactions modules provide visibility into the investing, borrowing, trading, hedging and intercompany activities that are required to make better decisions, gain control and improve financial processes and reporting.

“Where we have already seen a significant time-savings has been the payments module. In just a few months, having all the feeds into the system from various banks and ERPs, and automatically creating reports...

“Where we have already seen a significant time-savings has been the payments module. In just a few months, having all the feeds into the system from various banks and ERPs, and automatically creating reports and payments from those reports has shown incredible value to our organization. It has been night and day from where we were before.” Christopher Lynn, Cash Analyst As Lifespace looks to grow their number of communities nationwide, while maintaining best practices and efficiencies in Treasury, Kyriba has been able to adapt to their scale and size, tailoring the modules to accommodate budget while creating value. Before Kyriba Excel-based Daily Funding Multiple reports from multiple different sources Main Drivers to Kyriba Instant visibility into cash positioning Automation of payments process Adaptability to the smaller enterprise Modules Implemented Payments Cash Accounting What’s Next Cash Forecasting Debt & Investment Automated Reconciliation

How one of America’s largest privately held companies put Kyriba technology to work to centralize Treasury functions and achieve strategic level maturity. In 2018, Koch Industries worked with Kyriba’s Value Engineering team to perform...

How one of America’s largest privately held companies put Kyriba technology to work to centralize Treasury functions and achieve strategic level maturity. In 2018, Koch Industries worked with Kyriba’s Value Engineering team to perform a process maturity assessment for their treasury and finance functions. What they uncovered was a definitive need for a TMS to assist in realigning and improving internal processes. Key Challenges Lack of real-time visibility across their global banking landscape. Excessive labor intensity and process disparity in cash management and payment workflows. Ad-hoc bank account management due to sheer volume of banks worldwide. Journey to Digital Transformation While Koch was structured to operate in an Excel environment, their needs had outgrown the limited tools and capabilities Excel offered. Post implementation of Kyriba, Koch Treasury was able to: Achieve 90% on-demand cash visibility into global cash balances, standardizing systematic workflows. Become a better partner for finance and increased collaboration across the organization with centralized information and reporting. Establish themselves as a strategic operation, with best practices in place for operational efficiencies. “Kyriba has enabled us to achieve 90% on-demand cash visibility which meets our needs for daily liquidity management. Having insight as to where cash is and what our balances are globally and in real time, is a HUGE benefit from Kyriba. We never came close to the level of accuracy and efficiency we have now.” Mark Waggoner, Assistant Treasurer at Koch Industries Value Realization: Global Cash Visibility Prior to Kyriba, Koch’s entities operated independently when it came to cash management. When they made the strategic decision to bring all cash and bank management under one platform, they achieved full confidence in their daily cash positioning worldwide. They were also able to centralize treasury operations into one, global treasury team. “We now have a centralized tool that everyone uses globally to standardize how we manage cash and that has created efficiencies in our operating model.” Chris Mitchell, Treasury Director at Koch Industries Modernizing Payment Processes The project wasn’t to simply push all payments to Kyriba. It was a true exercise in modernizing the entire Koch infrastructure while still controlling costs. Kyriba’s payment libraries and standardized workflows improved: Connectivity as a Service through bank formatting and management. Payment visibility through a payments hub. Multiple ERPs connected for seamless workflows. Financial security through better system access controls. “Our payment processes were pretty antiquated before this project. We saw the opportunity with Kyriba to bring those up to more modern standards. It gives us a good platform moving forward to continue to modernize our payment platforms.” Mark Waggoner, Assistant Treasurer at Koch Industries About Koch Industries Koch Industries is one of the largest private companies in America. A diverse set of businesses and industries across the world work together to keep improving and exploring new ways to make life even better.

Introducing Kyriba’s Bank Connectivity as a Service (BCaaS) for financial institutions. Kyriba is offering and expanding our market-leading, proven solution directly to our banking partners. As bank clients continue to invest heavily in state-of-the-art...

Introducing Kyriba’s Bank Connectivity as a Service (BCaaS) for financial institutions. Kyriba is offering and expanding our market-leading, proven solution directly to our banking partners. As bank clients continue to invest heavily in state-of-the-art enterprise resource planning (ERP) systems, integration with those systems has never been more imperative. Unfortunately, the assimilation process is typically very labor-intensive for both banks and corporates with integration projects often lasting 6-12+ months… But there is a better way. Kyriba can reduce time spent on connecting to your clients’ ERPs by more than 90 percent. Kyriba delivers real-time connections using application programming interfaces (APIs), robotic process automation, artificial intelligence, machine learning, and distributed ledger technology. Using Kyriba’s combined ERP APIs and Payment Format Library, your customers can be routing payments files directly from their ERP to your banking platform in matter of weeks. Kyriba’s BCaaS expedites the integration of your customers’ ERP systems into your payment infrastructure. By embedding the bank in your clients’ ERP, their user experience will remain in the ERP for instant access of bank reports and the outflow of payment files. Your clients will never have to log into Kyriba or even be aware of the transformation being managed by our platform. This unique, groundbreaking solution will reduce your implementation costs in the form of efficiency, while delivering value to your customers. Bank Benefits Kyriba’s Bank Connectivity as a Service delivers a world-class corporate-to-bank connectivity solution within our cloud platform and our prebuilt connections to leading ERP vendors, including SAP, Oracle, NetSuite and Microsoft Dynamics 365. Application programming interface (API) connectivity enables automatic access to data in real time, avoiding the need for IT to generate files. Kyriba also has proven experience with other source systems for bank statement reporting, payments, trading portals, cloud platforms and marketing information systems. Increased Relationship Levels Kyriba’s Bank Connectivity as a Service creates more opportunities to develop greater understanding of your client’s transactional business and drive increased deposits and transactions flow. Electronic File Formatting, Transmission We offer pre-defined formats for payments, payment status reports and bank reports, and access to new payment rails. Furthermore, Kyriba takes the onus off you and your clients by providing customized payment fraud management, using detection rules coupled with machine learning. And we monitor connectivity through 24/7 support centers. For 20 years, Kyriba has been building and maintaining payment format variations across the globe in our shared architecture, eliminating the need for our clients to build and test their own formats within their existing ERPs. On the other end of connectivity, Kyriba has been building APIs to the market leading ERPs, streaming the interfaces to quickly pull files into our platform. Your own technical and project resources will have access to our solution to setup customers under the single data base to manage all payment file integrations regardless of source system (ERP or otherwise). Client Benefits Getting a solid foundation of liquidity visibility is the starting foundation for a successful treasury or liquidity project. Borrowing and investment decisions should be made quickly, efficiently, and as early in the day as possible. Alongside connectivity, payments to business partners, vendors, and counterparties is a crucial next step in streamlining and reducing costs in the form of long preparations, approvals or logging into multiple systems. Taking full advantage of Kyriba’s leading practice solutions delivers opportunities to consolidate your clients’ connections and allow them to make accurate and timely payments. Additionally, it can take corporate IT departments six months or more to develop and test custom payments files from ERPs or purchasing systems. Using Kyriba’s combined ERP APIs and Payment Format Library of over 45,000 pre-built and tested global payment formats, your customers can be routing payments files directly from their ERP to your banking platform in matter of weeks. Your customers will realize faster implementation timelines, less rework and greater confidence in your bank’s capabilities through our connectivity, thus delivering value and better retention. A Win-Win With Kyriba’s Bank Connectivity as a Service, you’ll never again have to worry about remaking or modifying your own systems to suit your clients’ needs. And your clients also won’t have to make any adjustments. Instead, you’ll have a single version of the truth, with Kyriba continuing the maintenance of formats to comply with ISO standards and clearing system modifications. Embedded bank connectivity by Kyriba delivers a win-win for financial institutions and their corporate customers, providing better implementation experiences, a superior user interface, and a platform that strengthens bank/client relationships.

Kyriba’s Connectivity-as-a-Service (CaaS) accelerates the process of connecting your ERP systems to your banking partners, relieving potential development and maintenance burdens on IT. With one API gateway, clients can connect via Kyriba to over 1,000 global banks, supported by an extensive format library of 50,000 pre-developed and pre-tested payment scenarios.

Unleash the Power of Enterprise Liquidity Management with Oracle Fusion Cloud Financials and Kyriba Future Proof Your ERP with A Secure and Flexible Connectivity Solution Kyriba’s Connectivity-as-a-Service (CaaS) accelerates the process of connecting your ERP systems to your banking partners, relieving potential development and maintenance burdens on IT. With one API gateway, clients can connect via Kyriba to over 1,000 global banks, supported by an extensive format library of 50,000 pre-developed and pre-tested payment scenarios. Kyriba’s Oracle Fusion Cloud Financials (Oracle Cloud) API integration seamlessly connects Oracle Cloud with Kyriba’s Enterprise Liquidity Management platform to automate workflows between the two platforms. The integration enables: A complete end-to-end solution for payment workflows Streamlined cash management with import of cash forecasts from the Oracle Cloud into Kyriba Transfer of cash and financial accounting journal entries from Kyriba to the Oracle Cloud General Ledger Access to Kyriba’s robust risk management platform Major Benefits of Using Kyriba Oracle Cloud API Integration Solution With Kyriba Oracle Cloud Integration Without Kyriba Oracle Cloud Integration Configuration and Installation Pre-built data extract, mapping and transmission from your Oracle Cloud to Kyriba Easily customizable data extract using Oracle’s BI Publisher No coded components required All bank connectivity and payments formats are managed by Kyriba Validated and pre-tested bank integrations Develop custom data extract from your Oracle Cloud systems to Kyriba Define and maintain mapping for payment scenarios in Oracle Cloud Develop custom process monitoring Time-consuming testing of extracts Payment Processing Immediate payment transmission to banks, via Kyriba, upon batch completion Integrated workflows transmit encrypted HTTP No intermediate files created Final payment status updated on the Oracle payment transaction Connected via SFTP: Use the Kyriba FTP server for intermediate file creation and storage Explicit file encryption/decryption Direct to Kyriba API: Need to manage API workflow orchestration and exceptions Kyriba Oracle Cloud Integration for Payments Workflow The automated workflow allows clients to submit vendor payments, direct debits and other 3rd party payments from Oracle Cloud into the Kyriba platform. Kyriba manages workflows, payment screening, formatting and bank communication. The automated workflow features: Inbound: Using native Oracle workflows, payment requests are generated and sent directly to banks via Kyriba for execution Outbound: Final bank payment status is returned to a dedicated field on the Oracle payment transaction using a standard Oracle API The Kyriba Oracle Cloud Integrated Payments Workflow Explained Oracle Cloud payments are translated from Oracle Cloud to Kyriba format and sent to Kyriba as a single file. Payment requests are batched in Kyriba before being sent to the banks. Batched payment orders are sent to associated banks to be executed. Payment confirmation is returned from the banks to the Kyriba application. A scheduled process requests payment acknowledgments from the Kyriba application. Process initiation can be performed by Oracle OIC, Kyriba Scheduler or other client middleware application. Using a standard Oracle API, the Kyriba Oracle connector updates the payments status with the final bank acknowledgment information directly in the Oracle system. Kyriba Oracle Cloud Integration for Cash Management Workflow Kyriba Oracle integration for cash management imports cash forecasts into Kyriba to forecast future cash balances and optimize liquidity planning. The automated workflow: Extracts open customer and vendor invoices, non-Kyriba payments and other GL entries Batches data records into a standard ERP cash forecast .csv file and sends it to Kyriba via the ERP Connector Kyriba Oracle Cloud Integration for GL Export Workflow The Oracle Cloud GL Export integration transfers cash and financial accounting journal entries generated in Kyriba to Oracle Cloud General Ledger and: Includes GL entries that are otherwise not reported back into the ERP Eliminates manual entry/import of GL entries from Kyriba to the ERP Kyriba Oracle Cloud Integration forFX Balance Sheet Management Workflow The Kyriba Oracle integration for Balance Sheet FX features: Extract of life-to-date balances for assets and liabilities by entity, currency and GL account for FX analysis Process directives configured in Kyriba-enabled customized, automated handling of exposures in FX Balance Sheet FAQs on Kyriba Oracle Integration Do different D365 platforms require different installations? Kyriba is currently validated for Oracle Cloud 20D and later. What customizations can be used to enhance the functionality of the Oracle Cloud application? Files are generated by BI Publisher using data models and .rtf templates provided by Kyriba. Clients can easily modify these files to meet specific requirements. Can customers use their own middleware to call the API? Yes, customers can use their own middleware to call the API, for example OCI, BOOMI and MuleSoft. What authentication schemes does the integration use? The integration uses REST API with Basic Authentication or OAuth2. Can clients connect to multiple ERP systems? The integration uses REST API with Basic Authentication. Can clients connect to multiple ERP systems? Yes, Kyriba ERP Connectors support the integration of multiple ERPs, including SAP, NetSuite and Microsoft Dynamics 365. Follow Kyriba Marketplace for the latest information. Are payment transfers batched? Is it possible to transfer a single payment? All payments are batched in a file and transferred to Kyriba. Kyriba re-batches the payments and sends them to the bank. Technically, single payment requests are supported. How long does it take to connect my ERP to Kyriba? Historically, installation and connectivity take 2-5 days, depending on the complexity of a client’s configuration. Kyriba Oracle Cloud reduces the cost, risk, time and effort required to connect Oracle Cloud to Kyriba.

The Kyriba Payments solution centralizes and standardizes company-wide payment workflows to enhance both controls and efficiencies with task automation, error management, fraud detection and full status visibility, all integrated in one payment hub.

Centralize Your Enterprise-Wide Payments to Control and Automate Your Payment Workflows Kyriba offers a pre-connected, multi-bank and secure global payment network for organizations of all sizes. The Kyriba Payments solution centralizes and standardizes company-wide payment workflows to enhance both controls and efficiencies with task automation, error management, fraud detection and full status visibility, all integrated in one payment hub. Kyriba Payments is an integrated part of Kyriba Enterprise Liquidity Management platform, delivering leading practices in centralizing payments workflows, enhancing payments controls, reducing fraud risks and optimizing liquidity management.     Harness Connectivity-as-a-Service Eliminate the costs of multiple bank portals 24/7 monitoring of connectivity performance Improve bank relationship management, bank fee analysis and governance Out-of-the-box ERP to bank connectivity SWIFT certified and SWIFT gpi compliant Enhanced Payments Security Enforce workflow to initiate exceptional payments in Kyriba instead of in different uncontrolled banking portals Automatic quarantining of suspicious and non-compliant payments with AI or customizable rules Flexibility to modify or stop any payments in large payment files (supporting up to 1 million payments in one batch) Synchronized account signatory management Error analysis and recovery with transparent monitoring and reporting Secure disaster recovery Accelerated Payments Automatic transformation of payment formats based on bank channel, payment type or location Open Formats Studio (OFS) for quick formats translation and adaptation Large Account Support API-powered extensions, advanced data exchange transformation and NACHA support Custom fields to meet specific requirements Visibility and Intelligence End-to-end payments tracking One payment status reporting dashboard with real-time data visualization and analytics Kyriba Mobile App (iOS and Android) for review and approval on-the-go

Kyriba’s in-house, leading Enterprise Connectivity as a Service gives our customers a complete connectivity solution encompassing ERPs, internal financial systems, third party providers, and over 1,000 out-of-the-box, pre-configured, pre-tested connections with financial institutions across the globe.

Kyriba Delivers Quick and Easy Connectivity and Integration for Your Systems Kyriba’s in-house, leading Enterprise Connectivity as a Service gives our customers a complete connectivity solution encompassing ERPs, internal financial systems, third party providers, and over 1,000 out-of-the-box, pre-configured, pre-tested connections with financial institutions across the globe. Kyriba’s solution includes application processing interfaces (APIs) delivering real-time integration, payments and reporting. Kyriba Connects to 1,000 Banks Globally. Connectivity Options for ERPs, Finance Systems, and Your Banks Bank Connectivity Open API Direct bank (FTP) connections SWIFT Connectivity (gpi compliant) Extensive coverage of networks (ACH, Fedwire, EBICS, BACs, EDITRAN) SWIFT Service Bureau SWIFT Alliance Lite2 Statement Concentrator Regional and Country Protocols Bank Format Transformation Enterprise Connectivity Fast, ready, connectivity for SAP, S/4HANA, Oracle ERP Cloud, Workday, MS Dynamics, NetSuite Real-time integration: cash, forecasting, payments, reporting Real-time integrations for new bank reporting Master data and GL synchronizations Eliminates batch processing Kyriba Connectivity We give organizations of all sizes global connectivity potential through leading API and direct connections across your banks, internal systems and 3rd parties. Open API Connectivity Kyriba’s Open API hub enables treasury, finance and IT teams to transform the way they access and consume information. With its API-first approach, Kyriba is building a marketplace of real-time connections to apps, data, and new products and services that inject data-driven decision-making into every financial operation. Kyriba has extended its APIs to cover all key workflows required by customers, such as reference data management, payments, liquidity, and supply chain financing to offer full accessibility and a great experience for our customers and development partners. SWIFT Connectivity SWIFT is the gold standard when it comes to connecting to banks globally. Kyriba offers multiple SWIFT connectivity options: SWIFT Service Bureau offers clients their own SWIFT BIC, which includes SWIFT membership and enables unlimited volumes of payments and statements. SWIFT Alliance Lite2 has all the advantages of the Service Bureau but at a lower cost for those with reduced payment volume needs. Kyriba’s MT Concentrator service allows organizations to utilize a SWIFT BIC11 specifically provisioned for Kyriba clients, without the requirement (or cost) of becoming a SWIFT member. ERP Connectivity Kyriba provides critical connectivity for corporations to their internal ERP systems with connectivity to all major ERPs, including SAP, S/4HANA, Workday, Oracle, NetSuite, Microsoft Dynamics, as well as others. Our certified connectors accelerate implementations, while also reducing IT costs. Our connectivity to ERPs uses APIs, where possible, to access data in real time and return automatically as soon as ready, avoiding the need for IT to generate files.

Applying Principles of Quality and Efficiency from the Manufacturing World to Treasury and Finance to Achieve More Efficient FX Risk Management One of the principal tenets of Lean is a focus on customer value....

Applying Principles of Quality and Efficiency from the Manufacturing World to Treasury and Finance to Achieve More Efficient FX Risk Management One of the principal tenets of Lean is a focus on customer value. Activities that do not have a direct bearing on the value of the product or end result are targeted for elimination. Our customers, using our platform and Lean principles work to transition their foreign currency related systems and processes to create greater automation and efficiency.

Die Enterprise Liquidity Management Platform von Kyriba bietet Lösungen für Konnektivität, Zahlungen, Treasury, Risiko und Working Capital, die CFOs und ihren Teams Transparenz, Kontrolle, Produktivität und datengestützte Entscheidungen ermöglichen. Über unsere offene API-Entwicklerplattform und den Marketplace erhalten Finanzteams Zugang zu neuen Produkten und Dienstleistungen sowie zu unternehmensweiten Integrationen für Banken, ERPs, Drittanbietersysteme und interne Datensätze.

Die Enterprise Liquidity Management Platform von Kyriba bietet Lösungen für Konnektivität, Zahlungen, Treasury, Risiko und Working Capital, die CFOs und ihren Teams Transparenz, Kontrolle, Produktivität und datengestützte Entscheidungen ermöglichen. Über unsere offene API-Entwicklerplattform und den Marketplace erhalten Finanzteams Zugang zu neuen Produkten und Dienstleistungen sowie zu unternehmensweiten Integrationen für Banken, ERPs, Drittanbietersysteme und interne Datensätze. Mit Kyriba können CFOs Liquidität mit beispielloser Schnelligkeit, Präzision und Effizienz überwachen, schützen, ausbauen und bewegen. Produkte Treasury- und Risikomanagement Konnektivität Zahlungen Working Capital Lösungsabdeckung Großunternehmen Mittelgroße Unternehmen Branchen Nationale und globale Unternehmen Offene Cloud Entwicklerportal API-gesteuert Analytik und Datenvisualisierung SOC2/ISO27001-zertifiziert Kyriba kombiniert diese führenden Produkte, um eine bewährte, ganzheitliche Liquiditätsmanagement-Plattform für Unternehmen bereitzustellen – mit offener End-to-End-Konnektivität über all Ihre Systeme und Bankpartner hinweg. Treasury- und Risikomanagement Dank Kyriba erhalten CFOs und Treasurer den Überblick und das Reporting, die sie zur Optimierung der Cash-Rendite, zur Steuerung von Bankkonten, zur Förderung von Reporting und Compliance sowie zur Verwaltung der Liquidität benötigen. TREASURY-MANAGEMENTSYSTEM Cash-Management Vollständige Cash-Transparenz mit flexiblen Cash-Bestands-Dashboards und umfassenden Abgleichsfunktionen erleichtern die Anzeige von Buchungen des Vortags und innerhalb des aktuellen Tages. Liquiditätsprognosen Kyriba bietet umfangreiche Optionen für die Modellierung und Messung der Effektivität von Prognosen, damit Kunden die Genauigkeit und den Horizont ihrer Cash-Prognosen erweitern können. Cash Pooling und unternehmensinterne Bankgeschäfte Kunden können fiktive und physische CashPools verwalten, um konzerninterne Bestände, Zinsberechnungen und automatisierte Berichte in Echtzeit zu erhalten. Multilaterales Netting Multilaterales Netting berechnet die Nettoverbindlichkeiten und -forderungen nach Teilnehmern und optimiert so das Risikomanagement und die interne Bankintegration. Management von Bankbeziehungen Die Verwaltung von Bankkonten (Bank Account Management, BAM), die Verfolgung von Unterzeichnern, das FBAR-Reporting und die Analyse von Bankgebühren bieten eine genauere Kontrolle der Bankkonten sowie gesteigerte Transparenz von Bankgebühren. Finanztransaktionen Verfolgen Sie die Finanztransaktionen für Ihre Investitionen, Schulden und Risikoinstrumente mit vollständiger Integration in Zahlungs-, Buchhaltungs- und Cash-Prognose-Module. Bilanzierung und Compliance Für alle Cash- und Liquiditätsmodelle können Journaleinträge erstellt werden. Durch die automatisierte ERP-Integration in das Hauptbuch bietet Kyriba einen Bank-zu-Buch-Abgleich für den monatlichen Vergleich von Bank-Istwerten mit hochgeladenen Buchhaltungssalden. RISIKOMANAGEMENT Management von Währungsrisiken Eingehende Analysen sorgen für mehr Transparenz bei Währungsrisiken und ermöglichen eine bessere Bewertung, Abmilderung und Berichterstattung von Währungsauswirkungen auf Erträge und Jahresabschlüsse. Management von Währungsrisiken Kyriba unterstützt umfassende Bewertungsfunktionen, einschließlich Kreditrisiko und CVA/DVA-Unterstützung, und nutzt hierbei seine integrierten Marktdaten. Derivat- und Sicherungsgeschäfte Funktionen für Derivat- und Sicherungsgeschäfte im Rahmen von Devisen- und Zinssicherungsprogrammen bieten vollständige Unterstützung für FASB-, IFRS- und lokale GAAP-Anforderungen. Leasing-Bilanzierung Intuitive Workflows unterstützen die IFRS16- Standards für Leasingbuchhaltung, einschließlich Leasingmanagement, Berechnungen und Hauptbuchintegration. Management nicht finanzieller Risiken Kyriba bietet unternehmensweite Zahlungsbetrugserkennung sowie fortschrittliche Sicherheitsservices, die nicht nur einen strategischen Geschäftswert bieten und Risiken mindern, sondern auch die Compliance mit gesetzlichen Vorschriften sowie die automatisierte Überprüfung der Bankkontenverwaltung umfassen. Konnektivität Das intern entwickelte führende „Enterprise Connectivity as a Service“ von Kyriba bietet unseren Kunden eine vollständige Konnektivitätslösung für ERPs, interne Finanzsysteme sowie eine große globale Auswahl von mehr als 600 vorkonfigurierten, getesteten Verbindungen mit Finanzinstituten auf der ganzen Welt. Die Lösung von Kyriba umfasst Application Programming Interfaces (APIs), die Integration, Zahlungen und Reporting in Echtzeit ermöglichen. Kyriba bietet das größte globale Bankennetzwerk, Multi-ERP-Konnektivität, Omnichannel-Zahlungserfahrungen und Echtzeit-Verbindungen dank Robotic Process Automation, künstlicher Intelligenz und Distributed-Ledger-Technologie. Kyriba bietet das größte globale Bankennetzwerk, Multi-ERP-Konnektivität, Omnichannel-Zahlungserfahrungen und Echtzeit-Verbindungen dank Machine Learning, künstlicher Intelligenz und fortschrittlichen Lösungen mit integrierten Best Practices. Wichtigste Funktionen und Vorteile Sofort einsatzbereite Konnektivität zu mehreren ERPs (Hauptbuch, Reporting, Marktdaten-Feeds, Working-Capital-Lösungen wie Supply Chain Financing) Vordefinierte Formate für Zahlungen, Zahlungsstatus- und Bankberichte, Zugang zu neuen Zahlungssystemen (Distributed Ledger, Echtzeitzahlungen) Liquiditätsdaten-Hub – zentraler Speicher aller täglichen Bargeldtransaktionen, die in sämtlichen Kundenbankkonten durchgeführt werden Zentrale Anlaufstelle für statische und sicherheitsrelevante Zugangsdaten (unterstützt SSO-Funktionen); regionale und länderspezifische Protokolle Zukunftssicherheit für Kunden bei künftigen Konnektivitäts- und Formatänderungen Rund-um-die-Uhr-Überwachung der Konnektivitätsleistung Werttreiber für Unternehmen Schnellere Zahlungen, Berichte und Finanzimplementierungen für ERPs, Treasury- und Finanzprojekte Einfacheres Onboarding neuer Geschäftseinheiten (z. B. Unterstützung von Fusionen und Übernahmen) Konsolidierte Übertragung von Zahlungen und Berichten zwischen ERP und Partnerbanken Kosteneinsparungen und Effizienzsteigerungen Erweiterte Einblicke in Kosten, das Risiko von Zahlungsbetrug und die Wirksamkeit von Minderungsmaßnahmen Verbesserte Compliance mit internen Richtlinien 99,9 % Betriebszeit; Notfallwiederherstellung ist in unsere Lösung integriert Kyriba hat Kunden, die direkt mit über 1.000 Banken weltweit verbunden sind. DIREKTE HOST-ZU-HOST-VERBINDUNGEN Kyriba bietet über Secure FTP direkte Host-zu-HostVerbindungen zu Hunderten von Banken und arbeitet mit einigen der weltweit größten Banken zusammen, um direkte Konnektivität per API herzustellen. So sind keine zwischengeschalteten Dienste oder Netzwerke erforderlich, um Transaktionskosten und Bankgebühren zu minimieren. Host-zu-Host-Verbindungen werden häufig für ein hohes Volumen an Bankbeziehungen und in Kombination mit anderen Konnektivitätsmethoden verwendet, um die Verbindungskosten zu minimieren und gleichzeitig Geschwindigkeit und Sicherheit zu erhöhen. OFFENE API-KONNEKTIVITÄT UND INTEGRATION Unsere Open-API-Plattform umfasst mehr als bloße Bankverbindungen. Sie bietet Ihrem Unternehmen Zugang zu neuen Produkten und Dienstleistungen, und zwar in Echtzeit. Eine API verbindet Kunden mit unseren 1.000 vorkonfigurierten Bankkonnektoren und 50.000 Zahlungsformatszenarien. Unsere Lösung ist sofort einsatzbereit und erfordert keine kundenspezifische Entwicklung, Programmierung oder spezielle Projektimplementierung. REGIONALE UND LÄNDERSPEZIFISCHE PROTOKOLLE Viele Länder erfordern den Einsatz regionaler Netzwerke, die Verbindungen zu lokalen Bankpartnern unterstützen. Kyriba bietet Konnektivität für viele dieser speziellen regionalen oder länderspezifischen Netzwerke: Zengin und Anser in Japan EBICS in Frankreich und Deutschland BACS und Faster Payments (einschließlich der Option „Direct Corporate Access“) im Vereinigten Königreich CBI in Italien EDITRAN in Spanien SWIFT-KONNEKTIVITÄT SWIFT ist das Maß der Dinge, wenn es um die Verbindung zu einer großen Anzahl von Banken auf der ganzen Welt geht. SWIFT Service Bureau SWIFT Service Bureau von Kyriba bietet Kunden einen eigenen SWIFT-BIC, der vollständig von Kyriba verwaltet wird, einschließlich einer SWIFT-Mitgliedschaft und unbegrenztem Volumen an Zahlungen und Auszügen. Die Lösung nutzt MQ-Messaging für höhere Übertragungsgeschwindigkeiten. Sie ist spezialisiert auf höhere Verbindungsvolumen und richtet sich an Teams, die einen vollständig verwalteten SWIFTNet-Service benötigen, einschließlich vollständiger Überwachung der End-to-End-Bankkonnektivität. GLOBALE SAAS-ABLÄUFE UND -SICHERHEIT SaaS-Betriebsmodus mit Rund-um-die-Uhr-Schutz Benutzeroberfläche in 14 Sprachen verfügbar Services für Geschäftskontinuität (mit SLAs für 99,9 % Verfügbarkeit) Recovery Point Objectives (RPO) und Recovery Time Objectives (RTO) für Notfallwiederherstellung Nahtlose Upgrades Branchenführender Sicherheitsprozess Zahlungen Kyriba bietet eine globale Echtzeit-Zahlungslösung in Form eines Zahlungshubs, der über vorkonfigurierte Verbindungen zu zahlreichen Banken verfügt und außerdem eine sofortige Betrugserkennung für Unternehmenszahlungsprozesse bietet, einschließlich Treasury- oder Ad-hoc-Zahlungen. Kyriba bietet standardisierte Zahlungskontrollen mit vollständiger Sicherheit und Aufgabentrennung sowie Echtzeit-Betrugserkennung und Zahlungsprüfung anhand von Sanktionslisten. Treasury-Zahlungen Mit automatisierten Zahlungen können Teams Treasury-Zahlungen gemäß den Zahlungsrichtlinien ihres Unternehmens einleiten, genehmigen und übermitteln. Und die TreasuryAbteilung kann mit Kyriba die Zahlungskontrolle standardisieren, um den Schutz vor Betrug und Cyberkriminalität zu erhöhen. Zahlungshub Kyriba bietet einen vollständigen Zahlungshub für die Einleitung, Verwaltung und Übermittlung von Lieferanten- und Unternehmenszahlungen an Bank- und andere Zahlungskanäle. Mit mehr als 45.000 Zahlungsformatszenarien bietet Kyriba die umfassendste ERP-zu-BankKonnektivität. So müssen Sie Bankprotokolle und Formatumwandlungen nicht selbst verwalten. Zahlungskonnektivität Kyriba unterstützt mehrere Verbindungskanäle, einschließlich SWIFTNet, offenen APIs, Hostzu-Host und Ländernetzwerken, damit Kunden die Vorteile der Automatisierung genießen, Zahlungssicherheit gewährleisten und die Gesamtkosten minimieren können. Kyriba bietet weltweit die umfassendsten Konnektivitätsoptionen. Betrugserkennung bei Zahlungen Das Betrugserkennungsmodul von Kyriba ermöglicht szenariobasierte EchtzeitErkennung und -Verhinderung verdächtiger Zahlungsaktivitäten, um zu gewährleisten, dass Richtlinien und Verfahren für digitale Zahlungen jederzeit durchgesetzt werden. Working Capital Kyriba bietet eine erstklassige Technologielösung, mit der CFOs die nötigen Tools und Programme erhalten, um den freien Cashflow zu optimieren. Darüber hinaus können sie die Finanzergebnisse verbessern, indem sie auf Finanzierungslösungen mit vorzeitiger Zahlung zurückgreifen, die eine Verlängerung der Zahlungsfristen oder eine verbesserte Kapitalrendite unterstützen. Working Capital – mehr als Technologie Kyriba geht über die Technologie hinaus und stellt ein umfassendes, marktführendes Working-Capital-Angebot bereit. Das umfasst nicht nur unsere gründliche Working-CapitalAnalyse, die die quantitative Grundlage für die Working-Capital-Lösung schafft, sondern auch die maßgeschneiderte Programmgestaltung: Wir definieren Programm-KPIs und arbeiten ein Programm aus, das die Anforderungen aller Stakeholder erfüllt, einschließlich Finanzierungsstrategien. Unterstützung der Beschaffungsfunktion Das Working-Capital-Team von Kyriba unterstützt Ihre Beschaffungsfunktion, indem es Teams mit den Tools ausstattet, die sie für ihren Erfolg brauchen. So können sie unsere preisgekrönte Lösung für das Onboarding von Lieferanten verwenden und dabei mit unserem internationalen, mehrsprachigen OnboardingTeam zusammenarbeiten, um sicherzustellen, dass wir Ihre Programmstrategie optimal umsetzen. Mit unserem Enterprise Liquidity Network bietet Kyriba eine All-in-One-Lösung für Working Capital und Zahlungen. Jetzt können Sie Bestellungen und Rechnungen über eine einzige globale Plattform abwickeln. Als bankenunabhängige Lösung bietet Kyriba Ihnen die Möglichkeit, führende Technologien und Services zu nutzen. So erhalten Sie effizienten und flexiblen Zugang zu SCF-Liquidität, um Ihre Programmziele zu erreichen: Kontrolle und Verantwortung – Als Verantwortlicher für Ihr Programm gibt unser Finanzierungsmodell Ihnen als Partner die Kontrolle. Bankbeziehung – Sie können mehrere wichtige Partnerbanken auswählen und belohnen. Risiko – Beseitigen Sie das Risiko, von nur einer Bank abhängig zu sein, und diversifizieren Sie Ihre Finanzierungsquellen. Preisgestaltung – Unsere wettbewerbsorientierte Lösung sorgt dafür, dass Banken miteinander konkurrieren und stets die besten Preise anbieten. Kyriba ist kein Geldgeber – Wir sind nicht an ein bestimmtes Kreditrisikoverfahren oder eine bestimmte Lieferanten-Onboarding-Richtlinie gebunden. Lieferkettenfinanzierung Supply Chain Finance bietet Lieferanten eine vollständige Lösung für umgekehrtes Factoring, mit der sie die Laufzeit für Verbindlichkeiten erweitern können – mit vollständiger Integration zwischen Käufer, Lieferant und Finanzierungspartner. Die Supply-Chain-FinancePlattform von Kyriba eignet sich ideal für Unternehmen, die ihre Zahlungsfristen verlängern möchten, um ihre CashflowLeistung zu verbessern. Dynamische Rabattgewährung Programme zur dynamischen Rabattgewährung sind insbesondere für Unternehmen geeignet, die einen Cashund Liquiditätsüberschuss verzeichnen und die nach einer Alternative zu Kurzzeitanlagen mit niedriger Rendite suchen, um diese Mittel risikofrei gewinnbringend einsetzen zu können. Mit Kyriba können Käufer Programme für vorzeitige Zahlungen so strukturieren, dass ihnen im Gegenzug dynamisch berechnete Rabatte eingeräumt werden. Finanzielle Forderungen Die Kyriba-Lösung für finanzielle Forderungen beschleunigt die Bezahlung Ihrer Forderungen, um dem Unternehmen bei Bedarf schnell Bargeld zukommen zu lassen. Damit erhalten CFOs ein neues Instrument zur Optimierung des Working Capitals und zur Stärkung der Bilanz. Dank der nahtlosen Integration in Ihre gesamte Plattform können Sie das Liquiditätsmanagement vereinfachen und die WorkingCapital-Stabilität steigern.

Are you a treasury professional working in or planning to expand into the Asia-Pacific region? With 12 chapters on topics such as liquidity management, short-term borrowing and financial risk management, this handbook gives guidance...

Are you a treasury professional working in or planning to expand into the Asia-Pacific region? With 12 chapters on topics such as liquidity management, short-term borrowing and financial risk management, this handbook gives guidance on the core tasks of a regional treasury center and explores the topics and emerging trends that shape the Asia-Pacific region.

Enterprise Liquidity Management results in $490K value in less than 3 months Cenveo needed a way to improve visibility into overall liquidity and provide management on-demand insights into the performance of their strategic liquidity...

Enterprise Liquidity Management results in $490K value in less than 3 months Cenveo needed a way to improve visibility into overall liquidity and provide management on-demand insights into the performance of their strategic liquidity objectives. Their digital transformation in Enterprise Liquidity Management through Kyriba saw immediate, impactful results. Key Challenges Executive leadership needed reliable, real-time, actionable liquidity insights and on-demand scenario analysis. Disparate, labor intensive, and inconsistent treasury processes consumed 729 hours/month across a small team. Excessive labor intensity and process disparity in Cash Management, Cash Forecasting and Payment Workflows required more than seven hours a day to manage. Journey to Digital Transformation Consulting firm Clearsulting executed a wholistic evaluation of people, systems, and processes, highlighting the need for liquidity management software. Once the requirements were understood, Clearsulting helped improve the invoice approval and payment process, optimized cash forecasting and cash accounting processes, and led the implementation of Cenveo's Kyriba solutions. Cenveo leveraged Kyriba Value Engineering’s Collaborative Value Assessment (CVA) to help evaluate what to change, why change it, and why now. “Kyriba’s Enterprise Liquidity Management platform achieved the CFO’s objective or reliable timely liquidity insights and enabled my team’s transformation from tactical to strategic business partner.” Benjamin Seal, VP Treasury   Value Realization: 657 Hours Per Month The Value Realization Assessment (VRA) enabled Cenveo to provide the current state review post Kyriba deployment, resulting in 90% productivity improvement, including but not limited to: Cash Management: 100% real-time liquidity visibility, 95 hours per month productivity gain. Cash Forecasting: 43% liquidity forecast accuracy improvement, 113 hours per month productivity gain. Liquidity Payment Optimization: Increases in data integrity and workflow controls ensured no loss of discounts, 137 hours per month productivity gain. “The most critical step in our solution evaluation process included leveraging Kyriba’s Value Engineering service that helped us document what we need, why we need it, and why now is the time to execute.” Benjamin Seal, VP Treasury   Cenveo & Kyriba: Strategic Business Partnership Supply Chain Financing: Evaluating upside potential of $17.7M in cash flow benefit. Business Interruption Claims: Beginning the process of filing for an estimated $1M benefit. About Cenveo Cenveo is the world leader in the management and distribution of print and related offerings, encompassing 20 facilities across the United States with a long history of delivering top value for customers.

As the leader in connectivity for treasury and finance systems, Kyriba maximizes the power of APIs for treasury management to drive liquidity transformation for CFOs and treasurers.

As the leader in connectivity for treasury and finance systems, Kyriba maximizes the power of APIs for treasury management to drive liquidity transformation for CFOs and treasurers. Kyriba’s Open API hub enables treasury, finance and IT teams to transform the way they access and consume information. What is an API? APIs allow software applications to exchange data in real-time, eliminating file processing. They also reduce implementation time for system integration, standardize onboarding, and provide instant access to information from internal systems or external partners, like banks. APIs facilitate an open ecosystem that allows for third-party developers to build applications on top of the API provider’s platform. APIs for treasury management expedite the flow of bank data, providing corporate treasury and finance departments with a host of benefits, including: Real-time payments Immediate notification of transaction settlements Fraud detection Extended remittance information Less reliance on credit lines Lower risk of overdrafts Elimination of batch processing Instant confirmation of FX deals System and ERP integrations Banking APIs Kyriba connects with over 1,000 global banks using a variety of connection protocols, including APIs, H2H and SWIFT. Banking services supported by banking APIs include real-time payments, payment status, bank balance updates, bank statements and transaction reporting, and SWIFT gpi payment tracking. Kyriba clients can already access these services using Kyriba’s real-time API connectors to all major banks including Bank of America (CashPro), Barclays, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, J.P. Morgan, Societe Generale, Standard Chartered, US Bank, and Wells Fargo. More banks are added to this list every month. While API connectivity is transparent to the user, it brings key advantages over a file-based approach, such as immediate response from banks and the ability to receive new data and notifications in real-time. ERP APIs Kyriba already connects over 10,000 ERP instances, including pre-developed, real-time ERP API connectors to SAP, Oracle, NetSuite, Microsoft D365, and many other ERPs. Kyriba’s ERP API connectors provide real-time data flows, including event-based notifications. Kyriba can also push instant updates, like changes in payment status, to your ERP. Kyriba’s ERP API package delivers: Out-of-the-Box ERP Integrations for Kyriba workflows: These include cash forecasting, payment initiation, payment confirmations, cash and financial instrument accounting, and GL reconciliation ERP Connectivity Wizard: This self-service, context-driven experience allows for the setup of ERP-to-Kyriba connectivity and provisioning for partners and customers via the development portal ERP Package Downloads: Kyriba enables self-service access to ERP-side integration components and documentation Open API for ERPs: Kyriba supports direct-connect API endpoints for additional ERP integrations Open API Platform Kyriba’s Open API platform enables treasury, finance, and IT teams to transform the way they access and consume information. While other providers may offer APIs as additional features, Kyriba has taken an API-first approach; we build all functionalities inside the Kyriba platform, making them accessible through Open APIs. Kyriba has also extended its Open APIs to cover all key workflows required by customers, such as reference data management, payments, liquidity, and supply chain financing to offer full accessibility and a great experience for our customers and development partners. Kyriba’s Open APIs act as a conduit between disparate teams and systems, allowing for real-time data exchange. Through our platform, antiquated processes like manual logins to bank portals and reliance on Excel spreadsheets are remnants of the past. Developer Portal and App Marketplace Kyriba’s Developer Portal allows developers, implementation partners and Kyriba clients to build new applications and use cases. Registration is free of charge with immediate access to the API catalog, documentation, samples, sandbox and more. The Kyriba Marketplace is a global liquidity network offering apps, data and connectivity solutions to our customers and partners. Apps can be published in the marketplace free of charge. Kyriba forms partnerships with best- in-class fintech solution providers to innovate and enhance the Kyriba offering with new apps that shorten time to market. The marketplace currently features some of the world’s leading financial institutions, ERP providers, payments solutions and investment management companies. API-Integrated Workflows Managing cash and investments should be a tightly connected workflow. Kyriba and ICD have partnered on a fully automated end-to-end workflow that delivers real-time visibility into cash and short-term investments. With this API integration, your system of record will fully capture all aspects of your liquidity position, allowing treasury to manage liquidity, analyze risk and integrate reporting more effectively. Additionally, joint clients can sweep excess bank balances into money market funds in ICD’s portal from their Kyriba dashboard. For example, MetLife went live with Kyriba in 2020, with a goal of streamlining its heavily manual cash forecasting processes. Kyriba’s APIs for treasury management enabled the cash management team to pull data whenever needed. This provided the team with more time to analyze the forecast, which in turn improved MetLife’s working capital. After lowering working capital balances, MetLife needed to invest those funds but also keep them fully liquid. Kyriba’s and ICD’s API connector allows MetLife to sweep excess cash into a wide range of money market funds that provide the highest yield. APIs Deliver Enterprise Value Finance leaders looking to transform processes, modernize technology and unlock greater business value need to think about how to incorporate APIs wherever they can to unify data, compose financial systems, and streamline processes to drive greater efficiency. APIs for treasury management may start with bank connectivity, but their value to the bottom line is much more than that. CFOs who are ready to embrace APIs are extending their thinking well beyond bank connections and embracing the entire opportunity. "It gives us a win-win solution; we get a large selection of funds and we get API calls to be able to streamline the trade process.” — Tom Lenahan, AVP, Global Cash Management, MetLife

Wednesday, September 15th | 9 am PT | 12 pm ET | Pending CTP Credits CIOs & CFOs are reporting that generating XML ISO20022 payment format variations, building new bank connections, and new fraud...

Wednesday, September 15th | 9 am PT | 12 pm ET | Pending CTP Credits CIOs & CFOs are reporting that generating XML ISO20022 payment format variations, building new bank connections, and new fraud prevention safeguards, is demanding more time, money, and resources than ever. Add the complexity of digital transformation as 35% of SAP customers are planning to move to S/4HANA in the next five years, a hybrid remote/in-office workforce, and the necessity to simplify this process increases even more.

Thursday, September 23rd | 12 pm PT | 3 pm ET “When do I know my finance organization has outgrown spreadsheets for managing our cash and risk? Which inefficiencies could we overcome moving beyond...

Thursday, September 23rd | 12 pm PT | 3 pm ET “When do I know my finance organization has outgrown spreadsheets for managing our cash and risk? Which inefficiencies could we overcome moving beyond Excel? How many hours and dollars could we gain? Which processes could we automate and standardize by upgrading our technology?”

Wednesday, Sept 22nd at 9 am PT / 12 pm ET APIs are becoming a very popular buzzword in treasury, payments, finance, in part to deliver on the promise of open banking and real-time...

Wednesday, Sept 22nd at 9 am PT / 12 pm ET APIs are becoming a very popular buzzword in treasury, payments, finance, in part to deliver on the promise of open banking and real-time connectivity between systems. While APIs offer great efficiencies for bank and ERP connectivity, there is a bigger prize for CFOs and Treasurers than a quicker implementation or quicker exchange of information.

Thursday, Sept 16th at 9 am PT / 12 pm ET After a year and a half of Deloitte’s Treasury Advisory team serving many of the world’s emerging corporations through an unsettled global economy,...

Thursday, Sept 16th at 9 am PT / 12 pm ET After a year and a half of Deloitte’s Treasury Advisory team serving many of the world’s emerging corporations through an unsettled global economy, the Advisory team noticed an increase in popularity of a noteworthy trend - the formation of International Treasury Centers.

September 14, 2021 • 3:00 pm ET • 12:00 pm PT • Join us for a deep dive into how Kyriba's Treasury & Risk Platform can help your treasury and finance teams optimize corporate...

September 14, 2021 • 3:00 pm ET • 12:00 pm PT • Join us for a deep dive into how Kyriba's Treasury & Risk Platform can help your treasury and finance teams optimize corporate cash and working capital, manage financial risk, and ultimately drive strategic growth and value by activating enterprise-wide liquidity.

Swile set its sights on becoming a global player in employee engagement using a fully virtual solution. To achieve this goal, Swile offers a single smartcard to access all employee benefits (meal vouchers, gift...

Swile set its sights on becoming a global player in employee engagement using a fully virtual solution. To achieve this goal, Swile offers a single smartcard to access all employee benefits (meal vouchers, gift vouchers and coming soon, a sustainable mobility voucher) using an app to measure, manage, and impact employee engagement. In less than three years, Swile has acquired 13,000 corporate customers of all sizes and more than 400,000 cardholders, i.e., more than 10% of the entire market, based on its DNA — focusing on the human and social aspects. A business that uses Swile Swile's treasury management model is unique. Swile holds cash for third parties. Doing so requires segregating cash into accounts and categorizing it so that the treasury team can monitor and manage it accurately. “Controlling cash is key for all businesses, but this is even truer for a business that holds money for third parties. We must be able to control and categorize flows so we can accurately determine what does and doesn't belong to us. Using the Kyriba Cash and Payment modules, we categorize flows accurately,” says Frédéric Chabrol, Swile’s VP Finance. "Kyriba's disruptive story mirrors ours. We have the same DNA. I really appreciated the customized support we received when we were evaluating Kyriba and then the implementation support from Absys Cyborg’s treasury management consultants. This project has a lot of human aspects and that was incredible." Frédéric Chabrol, Swile’s VP Finance   The CNTR, the French meal vouchers agency, audits Swile monthly. To comply with regulations, Swile must be able to accurately explain cash flow. If volumes grow by leaps and bounds, specialized technical expertise is required to provide insight into those changes. “In a way, we are a medium-sized business, but we specialize in the issues of large businesses,” explains Romain Giraudeau, Swile’s Cash Manager. In 2019, Swile’s CFO embarked on a process to pick a treasury management solution to keep up with the company’s hypergrowth and manage its cash: “We wanted to bring on board a sufficiently robust solution to manage our growth outside of France and be able to pinpoint the company’s treasury in a centralized manner. Uploading bank statements is one thing, but managing payments is crucial, especially in Brazil, the largest meal voucher market globally," Chabrol points out. Alongside the project, the CFO decided to hire a Cash Manager. “I’ve been using the Kyriba solution since its inception. I practically learned treasury management using it, starting with my internship and until now. When I first started at Swile, I was pleasantly surprised to find that they were using this solution. It has clearly passed the test of time. When you pick Kyriba, you can't go wrong,” Giraudeau tells us. "The various solutions offered by mainstream banks did not meet the company’s challenges. By contrast, the Kyriba solution met my expectations but could prove too costly. I was lucky that Kyriba understood our needs and approached us in the right way with a proposal that allowed us to use the solution." Frédéric Chabrol, Swile’s VP Finance   A choice that meets Swile's technological and HR ambitions Swile settled on Kyriba’s treasury management solution due to its ability to handle the company’s complex transactions. The treasury teams at Kyriba and Absys Cyborg instilled Swile with confidence because both offered hands-on approaches. “Kyriba's disruptive story mirrors ours. We have the same DNA. I really appreciated the customized support we received when we were evaluating Kyriba and then the implementation support from Absys Cyborg’s treasury management consultants. This project has a lot of human aspects and that was incredible,” Chabrol confides. The Swile project began in the first quarter of 2020. Although Kyriba is often mistakenly thought of as a solution for large businesses only, Swile understood that its solution must address the company’s ambitions. It had to enable the CFO to manage Swile’s hyper growth and follow the roadmap drawn up by senior management. For Chabrol, “The various solutions offered by mainstream banks did not rise up to meet the company’s challenges. By contrast, the Kyriba solution met my expectations but could prove too costly. I was lucky that Kyriba understood our needs and approached us in the right way with a proposal that allowed us to use the solution.” The CFO also had to factor in a heavily regulated environment in which internal controls and protections against fraud and money laundering are ever present. “By just clicking on a button, you can view cash flow, track flows and comply with regulations. Everything is simpler when you have great visibility,” Chabrol adds. “Our core business is controlling our cash and cash burn. The treasury solution is a core building block and by automating it from end to end, we can achieve total financial control.” The SaaS model (Software-as-a-Service) also played a major role by providing real, instant advantages when the project went live in April 2020. According to Giraudeau: “These days working with SaaS is the obvious choice and security is not really an issue. First, I trust Kyriba to manage security in its entirety. Further, how confidential can figures on a bank statement be? It is instant availability that is crucial. I was very happy during the Covid-19 health emergency to be able to log in remotely and access all the data.” Boosting the HR link across the globe Swile's CFO was closely involved in the treasury management project from the selection process up to implementation: “All CFOs should follow this process and make it fit in with a company’s strategy. The solution is simple enough to log in to check a company’s health daily,” Giraudeau asserts. Swile has implemented effective and efficient processes to take full advantage of the solution. But more than anything, the solution has the ability to reinvent itself, depending on current trends and the company’s strategy: “After France, we focused on Brazil, the industry’s leading market. Currently, we are focusing on Mexico and on Europe overall,” Chabrol affirms. Eventually, Swile would like to set up localized treasury to work across various time zones, manage regulations, and market specificities while continuing to conduct centralized management from headquarters. Chabrol concludes: “In the end, the first international connectivity project was implemented in a country in which bank regulation and communication are not as straightforward as in Europe. We had to be pioneers and stay as up to date as possible. “As we expand into other countries, Swile is going to enhance the solution’s features to keep up with the company’s ambitions. This involves setting up a Shared Services center and a Payment Factory. At the same time, the CFO would like to improve the dashboard to be increasingly connected and automated and adopt emerging technologies, including artificial intelligence for forecasting.”

Managing balance sheet FX exposure in a daily vs. single rate is an often discussed treasury topic in corporate risk mitigation. There are different results and perspectives, with a void left for real data...

Managing balance sheet FX exposure in a daily vs. single rate is an often discussed treasury topic in corporate risk mitigation. There are different results and perspectives, with a void left for real data and results to be shared in the space. With support from Kyriba clients, research has been gathered that examines trends related to FX accounting rate usage across industries, company sizes, geographies, and ERP landscapes.

A traditionally time-consuming exercise, the end-to-end bank reconciliation process requires heavy IT involvement on the front-end and manual review of large transactional volumes by accounting teams throughout the period. The rise of cryptocurrencies, social...

A traditionally time-consuming exercise, the end-to-end bank reconciliation process requires heavy IT involvement on the front-end and manual review of large transactional volumes by accounting teams throughout the period. The rise of cryptocurrencies, social media, and open banking has changed the landscape for financial service companies, creating new opportunities to generate and transfer wealth. The new landscape means finance executives must redefine their markets and transform business models to drive revenues and capture greater addressable markets.

Financial organizations of all sizes on Oracle Netsuite are supplementing, reducing financial risks, and empowering their treasury teams by bolting on Kyriba. Certified and “Built for Netsuite”, Kyriba naturally complements Netsuite, allowing finance teams...

Financial organizations of all sizes on Oracle Netsuite are supplementing, reducing financial risks, and empowering their treasury teams by bolting on Kyriba. Certified and “Built for Netsuite”, Kyriba naturally complements Netsuite, allowing finance teams to seamlessly visualize cash positions and forecasts, all within their NetSuite application.

In a post-pandemic world, there’s a major reset for most organizations, not many businesses have prospered and gone unscathed. The industries that have tended to fare better than most: food retail, e-commerce and retailers...

In a post-pandemic world, there’s a major reset for most organizations, not many businesses have prospered and gone unscathed. The industries that have tended to fare better than most: food retail, e-commerce and retailers that cater for home improvements.

Unbeknownst to the majority of IT & technology teams migrating to the Cloud, bank connectivity looms as the most difficult aspect of ERP migrations according to 91% of IT leaders that have migrated (Pulse...

Unbeknownst to the majority of IT & technology teams migrating to the Cloud, bank connectivity looms as the most difficult aspect of ERP migrations according to 91% of IT leaders that have migrated (Pulse survey). Treasury, accounting, and the greater finance organization must maintain their bank connections during the move to the Cloud.

Corporate treasury departments rely on technology to drive productivity and free up time to improve liquidity, reduce risk and optimize costs. More frequently, treasury teams are considering digital treasury tools, including robotic process automation...

Corporate treasury departments rely on technology to drive productivity and free up time to improve liquidity, reduce risk and optimize costs. More frequently, treasury teams are considering digital treasury tools, including robotic process automation (RPA) and machine learning (ML), in attempts to drive greater automation, insight, and decision making across treasury and finance.

Organizations currently using LIBOR as a benchmark for financial contracts and pricing have until December 31, 2021 to complete their transition to new risk free indices. Since 2018, Kyriba has collaborated with official working...

Organizations currently using LIBOR as a benchmark for financial contracts and pricing have until December 31, 2021 to complete their transition to new risk free indices. Since 2018, Kyriba has collaborated with official working groups, industry bodies, leading accountancy firms and other market participants in every affected region. This has kept our product teams closely aligned to the latest LIBOR transition developments and market practices allowing us to provide the requisite updates to functionality and reporting.

Robotics Process Automation (RPA), Machine Learning (ML) and Artificial Intelligence (AI) are no longer buzzwords and concepts. As technology advances and the applicability of various scenarios grow, treasury and the larger finance organization find...

Robotics Process Automation (RPA), Machine Learning (ML) and Artificial Intelligence (AI) are no longer buzzwords and concepts. As technology advances and the applicability of various scenarios grow, treasury and the larger finance organization find themselves in a new position: how to take advantage of tools and technology driving greater efficiency while, at the same time, focusing on core, valued activities.

Optimiser les prises de décision des directeurs financiers et des trésoriers permet de transformer les liquidités, et toutes les ressources de trésorerie, en actifs clés de l’arsenal financier de l’entreprise. Les organisations bénéficient d'une...

Optimiser les prises de décision des directeurs financiers et des trésoriers permet de transformer les liquidités, et toutes les ressources de trésorerie, en actifs clés de l’arsenal financier de l’entreprise. Les organisations bénéficient d'une meilleure visibilité de leurs liquidités, et peuvent les déplacer, les protéger et les faire croître en toute confiance.

Kyriba’s Currency Impact Report (CIR), a comprehensive report detailing the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe, revealed negative impact from currency volatility of $6.16...

Kyriba’s Currency Impact Report (CIR), a comprehensive report detailing the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe, revealed negative impact from currency volatility of $6.16 billion.

Based on ratings collected in IDC’s 2020 SaaSPath Survey (IDC #US46933620), Kyriba placed in the highest-scoring group of vendors serving the SaaS Treasury Management (TM) application market and has been awarded IDC’s 2020 SaaS...

Based on ratings collected in IDC’s 2020 SaaSPath Survey (IDC #US46933620), Kyriba placed in the highest-scoring group of vendors serving the SaaS Treasury Management (TM) application market and has been awarded IDC’s 2020 SaaS TM Customer Satisfaction Award.

During these times of accelerated growth and change, interest in supply chain finance solutions that can provide thorough evaluation and analysis is rapidly increasing. The Supply Chain Finance (SCF) & Cash Conversion Cycle (CCC...

During these times of accelerated growth and change, interest in supply chain finance solutions that can provide thorough evaluation and analysis is rapidly increasing. The Supply Chain Finance (SCF) & Cash Conversion Cycle (CCC ) Analyst Report will cover a variety of solutions that address pain points in the cash conversion cycle.

What were Mantrac’s objectives? Mantrac Group’s treasury structure was highly complex and dependent on manual processes. Visibility over cash was limited, particularly as the group was using almost 100 banks, with over 700 bank...

What were Mantrac’s objectives? Mantrac Group’s treasury structure was highly complex and dependent on manual processes. Visibility over cash was limited, particularly as the group was using almost 100 banks, with over 700 bank accounts across 13 countries. The lack of visibility meant cash was not always held in the most suitable accounts, creating inefficiencies when paying down debt. And the use of almost 50 e-banking systems resulted in control risks, as well as operational challenges. To tackle these challenges, Group Treasurer Roshun Tulkens, shortly after he joined the Group, embarked on a six-month exercise to interview and research potential providers, while consolidating the company’s bank relationships. While multiple banks were still needed in complex markets like Egypt, Nigeria and Iraq, the team was able to reduce its banking relationships to less than 20 banks and 300 bank accounts – resulting in an impressive $1.6m cost saving via bank fee reductions. "We wanted to be able to sleep better at night by having the controls in place to mitigate potential fraud." Roshun TulkensGroup Treasurer, Mantrac Group Why did Mantrac choose Kyriba? Tulkens looked at eight different systems to find the best fit for Mantrac’s needs. One consideration was the need for a system that could provide the right support in challenging markets. “A lot of TMSs are focused on Europe and North America,” says Tulkens. “We wanted a provider that could help us in complicated markets like Africa, Iraq and Russia – and we also wanted a system that was strong on payments.” Another consideration was that the new TMS would be used by teams representing 30 different companies. It was therefore important to choose an intuitive system that could be used by local finance people. Other considerations included cost and the proposed implementation time. Based on these criteria, Mantrac selected Kyriba as its TMS provider. "If we hadn’t completed phase one before the crisis, the situation would have been much more challenging. If you have to log into multiple e-banking systems or call banks to work out how much money you’ve got, there is not going to be a lot of time for strategic decision-making." Roshun TulkensGroup Treasurer, Mantrac Group What was the implementation experience? The implementation was structured into two phases: the first focused on cash management, forecasting, reporting and accounting, while the second focused on payments and valuations. With over 140 people using the system, training was an important consideration, and had to be delivered across different time zones and in different languages. While the beginning of the COVID-19 crisis brought some challenges – such as the transition to remote working and the need for wet signatures – the second phase was completed successfully, with training and testing carried out remotely. What benefits did Mantrac realize? One major benefit is the visibility that has been achieved – not just over cash, but also over payments and pricing. “Before the implementaion, I did not have visibility over the volume of payments we were making from each of our banks, the volume of collections coming into each bank and the bank charges we were paying,” says Tulkens. Connectivity with other systems such as the procurement database and ERP system has not only improved security controls, but also eliminated the need for manual intervention. Other benefits include the ability to forecast and mitigate fraud risk more effectively, as well as lower FX costs. In total, the TMS has generated added value of $800,000 per annum by enabling the company to harness process efficiencies and time savings, switch to cheaper electronic payments and pay down debt using excess cash. What is next for Mantrac Treasury? Looking forward, the team won’t be resting on its laurels. “There will be some further bank consolidation, particularly in some of the more challenging jurisdictions,” says Tulkens. “We are also expanding into two new countries.” At the same time, the team will continue to streamline processes, as well as incorporating some recent acquisitions into the system. And with Mantrac’s five-year digital plan underway, other topics could include looking at the value of machine learning in the context of cash forecasting, as well as potentially integrating the TMS with a new ERP system.

Visibility Challenges Şişecam’s international growth over the past few decades meant the company had a fragmented approach to cash management. While treasury handled strategic decisions such as borrowing, individual subsidiaries within the group handled...

Visibility Challenges Şişecam’s international growth over the past few decades meant the company had a fragmented approach to cash management. While treasury handled strategic decisions such as borrowing, individual subsidiaries within the group handled their own payment operations and managed their cash using their enterprise resource planning (ERP) systems. Treasury provided guidance to subsidiaries on how they should manage their cash. However, Şişecam lacked a centralized reporting system that could provide real-time visibility over cash balances globally and indicate whether guidance was being followed. Reporting tended to take place on a monthly basis, with individual subsidiaries reporting at the end of the month. As a result, treasury had to follow complex, labor-intensive and time-consuming processes to gain group-wide visibility over cash. "The biggest benefit with Kyriba is that you have one platform from which you can manage your bank operations for all your companies across the world." Baris Gokalp Treasury and Finance Director Şişecam   Payment Issues In addition, Şişecam’s payment processes were inefficient. While it was sending payment files to its banks via file transfer protocol (FTP), it followed these up with written instructions sent by fax and email. If a key signatory was unavailable, a payment could be held up by several hours until the signature was collected. Typically, it took between 30 and 60 minutes to execute a payment. Furthermore, not all payment orders were created via ERPs, which made it difficult to monitor and track payables. Quantitative Results 1000 bank account statements delivered daily 15 minutes the maximum end-to-end time it takes to make a payment Three-year history of transactional banking data One-week onboarding period for new companies and banking partners 10 country operations using Kyriba   Search for a Solution In its search for a treasury management system (TMS), Şişecam specifically looked for a vendor that met the following criteria: A good reputation in the market – and the ability to provide global customer references Supplier of a cloud-based, software-as-a-service (SaaS) solution that could integrate with different ERP and banking systems, while supporting the payment formats of different countries Provision of a fraud detection system A focus on security and security certifications Extensive experience with large-scale TMS implementations for other global businesses A strong relationship with SAP – Şişecam’s main ERP system – and the ability to integrate with other ERP systems outside of SAP Kyriba met all of these criteria. Its TMS would also enable Şişecam to quickly onboard new ERP systems and banking partners as the group made acquisitions. Business Transformation The implementation of Kyriba has given Şişecam complete visibility over its cash and totally transformed how it manages its payments. It now receives SWIFT MT940 end-of-day bank account statements through its Kyriba TMS, which means it has an up-to-date view of its cash positions. It can also access transactional data with its banks stretching back three years. Furthermore, all payment orders have to be raised via Şişecam’s ERP systems, heightening the group’s control over the payment process. If there is no record of a payment order in an ERP system, that payment will not be made. Once an order has been raised on an ERP system, a payment file is created directly within Kyriba. Signatories can log in to the system to approve payments quickly and easily, using multi-factor authentication security. Şişecam’s banks are also able to rapidly highlight formatting errors and raise queries about specific payments. The time it takes to execute a payment has fallen to between eight and 15 minutes. Kyriba’s digital approval processes proved a real benefit when Şişecam’s staff were asked to work from home due to COVID-19. Signatories were able to approve payments remotely, which eradicated the health risks associated with handling hard-copy documents. Fraud Detection In addition to the Kyriba Payments Network’s general payments module, Şişecam implemented the fraud detection module to raise alerts around suspicious payments – for example, alerting the first payment to a new supplier or a payment to a regular supplier that is significantly larger than usual. Besides picking up on changes to IBANs of the suppliers, the system checks if the company or country is sanction listed or not. When the system identifies a suspicious payment, it requires additional checks to be made. As a result, Şişecam can prevent fraud in real time, rather than just respond to fraudulent activities that have already taken place. Next Steps Going forward, Şişecam plans to use Kyriba to offer a supply chain finance service. At present, the company follows manual processes when agreeing on the discounting terms and making payments to suppliers in certain markets. With a digital process, all the suppliers of Şişecam will have the ability to monitor and discount their receivables from Şişecam Group Companies Worldwide. It also plans to integrate Kyriba’s cash forecasting module and foreign exchange management product into its program. A Positive Experience Şişecam found the process of implementing Kyriba easy, with go-live happening relatively quickly. Employees are very impressed with the system, which they find easy-to-use. Significantly, Şişecam has benefited from Kyriba’s accumulated knowledge and experience of working with numerous customers around the world. For example, Kyriba has already established extensive connections with banks in different countries. It is also aware of processes that different companies use to facilitate safer payments or reduce the risk of fraud. The recent COVID-19 crisis has highlighted the value of Kyriba being a SaaS solution and its ability to support and foster business continuity. Kyriba manages the disaster recovery process for its TMS, and as payment files are created and stored on the system, they can be easily recovered.

A major shift is underway in the world of enterprise resource planning (ERP) software. With both customers and ERP software vendors driving a mass migration to the cloud, many companies have already completed their...

A major shift is underway in the world of enterprise resource planning (ERP) software. With both customers and ERP software vendors driving a mass migration to the cloud, many companies have already completed their ERP cloud migration projects—and thousands more are set to follow suit by the end of this decade. But ERP cloud migration is a costly and time-consuming undertaking, particularly where IT is concerned. For companies seeking to digitize their enterprise applications, it’s clear that corporate IT will be heavily taxed for the foreseeable future. Meanwhile, cloud ERP software vendors and system integrators are poised to reap the benefits of years of migration project work. The Challenges of Bank Integration For corporations,  ERP cloud migration projects are often global in nature — and many will need to tackle the complexity of a global banking integration project. This element of ERP migration is particularly challenging, significant coordination is needed with the company’s banks, and there is a considerable disparity between the payment formats required by different geographic regions and clearing systems. Indeed, bank integration is often cited as one of the riskiest and most challenging elements of ERP cloud migration. Simplify and Accelerate The good news is that companies can considerably simplify and accelerate a major component of cloud ERP migrations: bank integration for reporting and payments. Connectivity-as-a-service (CaaS) providers deliver pre-delivered, pre-tested capabilities for bank reporting and payments formats that shave months off the migration project, and reduce connectivity and format costs by up to 80 percent. In this Ebook You will learn about the key areas to look at during an ERP cloud migration payments project, including: Following banks’ schedules Navigating variations due to geography, banks, statutory reasons Connectivity with your specific cloud ERP software (SAP, Oracle, Microsoft Dynamics, etc.) Resourcing challenges You’ll also find out how you can significantly reduce the cost and time required to complete your ERP cloud migration project. Bank and ERP Cloud Integration: What’s Involved? Bank integration is unlike any other system integration. Today’s corporate IT teams are experienced in building interfaces between different back-office systems—but these are typically stagnated interfaces that do not require additional resources. In contrast, when working on a bank interface, the IT team will typically need many different resources to coordinate with each other, including IT, treasury, accounts payable (AP), the connectivity team, the bank’s tech team, and others. What’s more, the project timeline is usually at the mercy of the bank’s schedule. Bank ERP integration can similarly be time-consuming. IT first has to determine if the cloud solution is compatible with their ERP. Then, the data needs to be extracted out of the ERP and re-formated. IT departments are often stymied and reliant upon outside consultants to deliver integrations or core capabilities within the ERP. Furthermore, once the initial specifications for these connections are determined, they need to be tested - and they rarely pass on the first try. As a result, the development team will need to rebuild, re-test and work through the coordination effort all over again. In some cases, two to five rounds of testing may be needed. What are the Challenges in ERP Cloud Migration? For IT, the bank integration component of an ERP cloud migration brings a number of additional challenges. Working on the Banks’ Timelines Delays in the ERP migration project often arise due to delays by the company’s banks. If the company has a robust relationship with a core banking partner, it may be able to move up the project queue for that particular bank. But with many corporations needing to manage dozens of banks globally, the IT team will be forced to follow those banks’ schedules—which means working across different time zones and navigating banking holidays and seasonal moratoriums on testing. Navigating Geographical Variations No two banks are the same, and it’s a common misconception that SWIFT is a standard message type across banks. While SWIFT is moving from MT to XML, each bank will still have its own unique requirement in terms of how it will accept incoming files. For any payment type, companies will need to ensure that payments are formatted correctly for a specific bank’s requirements and that they contain the information the bank needs to complete the payment. Most corporations will need multiple formats per bank, which might include different formats for low value, high value and FX transactions. Given the complexities, it’s no surprise that IT firms routinely take two years or more to work through all these bank connections and payment format testing. Payments Integration and Fraud Prevention Payments integration is a challenge, given the ever-increasing threat of fraud. Even with effective tools like artificial intelligence (AI) and machine learning, the threat level is the highest it's been yet, according to Strategic Treasurer's 2021 Treasury Fraud & Controls Survey. In addition to financial loss, fraud events damage a company’s reputation and lead to the loss of essential data or assets. It is therefore essential to use ERP integration as a way to put technology in place to protect your organization. This should include digitizing payment workflows, standardizing controls and screening payments as part of an integrated payments hub. Complexities for IT Adding to these challenges, bank integration brings a number of complexities where IT is concerned. Limited IT bandwidth Corporate IT teams are already thinly spread across numerous projects and support requirements. As such, the time involved in undertaking a bank integration project can be particularly onerous. No Reusable Data When IT teams work on an ERP implementation, they have to develop their banking interfaces as a one-off exercise. While ERPs may be moving to the cloud, ERP solutions are still typically private cloud providers—and no ERP in the market has readily available, reusable banking formats that can be shared among users. Multiple Stagings Bank and payment format development is no different than for any other interface or application, as IT has to work through the same rigorous processes. If the business users need a new payment format, such as a new ACH for an existing bank, they will still need to go through the process of testing, QA, nonproduction and production. This process can take months, meaning there will be a considerable delay before the end user has access to the payment format. Resource Requirements Once formats are in production, the IT infrastructure team will need to manage those formats going forward. This involves activities such as troubleshooting bank issues, editing formats as required by the bank and working with the business to add new banks when the need arises. Depending on the company’s banking footprint, two to five people will likely need to be tasked with managing these connections on an ongoing basis. Integration Made Easy Standard ERP integration is a lengthy process that is incredibly taxing on IT. But there is an easier way. Leading technology providers should offer a pre-built, pre-tested connectivity solution that takes minimal time to get up and running and provides access to even greater functionality immediately. Leading ERP and Bank Connectivity Technology Considerations ERP integration brings many challenges to IT - but these can be overcome by adopting a technology solution that simplifies both bank and ERP connectivity. With 20 years experience in connectivity, Kyriba can integrate bank reporting and payments, while mitigating risk--all in record time thanks to our use of application programming interfaces (APIs). Accelerate your ERP Migration Project and Reduce Costs Our out-of-the-box, bolt-on bank connectivity can help you achieve exceptional time and cost savings on bank integration. While standard integrations might required months of testing, our connections are pre-tested and ready to go. Access a Payment Format Library As a multi-tenant application, Kyriba is unique in the marketplace as our entire 2,500-strong customer base uses the same predeveloped and tested payment formats. What’s more, we have full-time staff whose sole responsibility is to build and test payment formats. As a result of 20 years of development, we offer more than 45,000 pre-developed and bank-tested unique payment scenarios. Simplify Interfaces Minimal IT resources are needed when it comes to interfacing between the ERP software and Kyriba. Using both SFTP and API, we take all payment files into our prebuilt interfaces with no code specs needed from IT. Focus on the Wider Project Kyriba’s connectivity platform frees IT up from the daunting task of bank integration—so you can focus on keeping the ERP project on schedule and on budget. Avoid the Need for Swift Connectivity and Certifications When you use Kyriba for connectivity, IT won’t need to manage the Alliance Lite2 SWIFT connection— and there will be no need for annual testing and certifications. Manage Ongoing Maintenance and Support When the project is over, Kyriba will handle all ongoing maintenance and will act as the banking IT support arm for business users, meaning you won’t need dedicated IT resources to troubleshoot bank issues. Connectivity as a Service By offering Connectivity as a Service (CaaS), Kyriba can actively manage bank connections on your behalf. As a result, no IT support will be needed to manage your company’s bank connections or undertake file testing with banks—and with Kyriba's API capabilities, companies can also add new banks in a fraction of the time that would be needed for custom development within the ERP. Market-Leading Payment Fraud Protection With IT increasingly tasked with risk mitigation, Kyriba’s market-leading payment fraud solution adds considerable value. The solution uses machine learning to detect any anomalies or suspicious activity, and provides alerts to stop payments for investigation before they are sent to the bank. Payment Tracking Kyriba offers real-time payment tracking with four levels of acknowledgement. By harnessing SWIFT gpi, Kyriba is able to track the entire lifecycle of the transaction. Innovation and Agility Hub Payment technology is evolving rapidly. Kyriba’s innovation and agility hub can deliver Real Time Payments (RTP) and can connect with other clearing systems and payment solutions. Smart Assignment Kyriba’s machine learning will have visibility to your banking partners and costs associated with each payment. Smart assignment can intelligently route your payments through the lowest cost provider. Bank Monitoring Kyriba offers global bank monitoring of all incoming and outgoing files. Kyriba clients can rest assured that they have fully outsourced banking support. Established Partnerships As an Oracle GOLD partner, Kyriba's Payments Network supports over 1,000 Oracle customers. Our payments solutions have also achieved SAP-certified integration with the SAP NetWeaver® technology platform and SAP S/4HANA. APIs and Connectivity The future of connectivity lies in Application Programming Interface (API) technology. This is where Kyriba has a key advantage. As the leader in connectivity in treasury and finance, Kyriba understands how to maximize the power of APIs to help finance leaders drive digital transformation and more informed decision-making. Bank APIs APIs offer an expedited pathway for bank connectivity, as well as a gateway to real-time business intelligence and digital solutions. Unlike file transfer protocol (FTP), APIs do not require files to be sent or downloaded. Data is exchanged point to point between the systems immediately, allowing for instant data transmission and eliminating substantial risk. Kyriba connects with over 600 global banks every day on behalf of our 2,500 clients using a variety of connection protocols, including APIs. Banking services available via API vary by bank, but can include real-time payments, domestic payments, cross-border payments, bank balance and transaction reporting, and SWIFT gpi payment tracking. Users receive immediate responses from banks, and the ability to access new data and notifications in real-time. ERP APIs Kyriba also works with ERP system providers to embed other systems via API integration into their workflows so that the user doesn’t need to take any action outside their ERP. These add-ons perform the initial formatting so that files can be exported from the ERP, translated to the API provider’s format and pushed out to the connectors. Corporate end-users can also integrate APIs into their ERPs on their own. These plug-and-play solutions are facilitated through our Open API platform, which provides users with common ERP integrations that connect to their own applications. Kyriba users can browse our online catalog, which lists all our available APIs and their prospective use cases. Here are a few examples: Bank Account Groups: This API allows for the creation of new account groups to filter and/or group accounts in processing and reporting. Users can modify the set of accounts that belongs to a specific group, and retrieve or update the pooling account of the group. Companies: This API allows for the setup of companies. Users can get a list of the companies located in a country, receive a list of companies whose name contains specific characters, and obtain all the setup fields of a specific company. Third Parties: With this API, users can manage and set up third parties who represent the companies they manage. Users can retrieve and update third-party details, and create or delete third parties via API. Optimized Bank Connectivity Conclusion There are many challenges for IT when deploying an ERP project, from working around banks’ schedules and specifications, to navigating the complexities of geographical variations - all while juggling an already heavy workload. Fortunately, Kyriba’s in-house developed, complete CaaS solution encompasses all ERP software vendors, internal financial systems, third party providers, and over 600+ pre-configured, pre-tested connections with banks across the globe - allowing for fast and simplified ERP migration. Payment and connectivity costs can be reduced dramatically, while the time spent on bank integration can be streamlined by as much as 80%. What’s more, freeing up the IT team from having to work within the constraints of the banks will help you keep the wider ERP project on time and on budget. Check out this webinar to learn how Treasury and IT worked together at Hilton Grand Vacations with Kyriba to speed up connecting more than 10 banks and 300 bank accounts as part of their Oracle ERP cloud migration project. 

More than 70 percent of SAP and Oracle customers are due to undergo an ERP cloud migration within the next three years, a major undertaking. But such a project also offers a great opportunity...

More than 70 percent of SAP and Oracle customers are due to undergo an ERP cloud migration within the next three years, a major undertaking. But such a project also offers a great opportunity to approach payments more strategically in areas such as fraud detection, bank connectivity and payment formats.

Reduce costs and increase working capital with dynamic discounting to employ idle cash to earn risk-free, double-digit rates of return by making early payments to suppliers.

Reduce costs and increase working capital with dynamic discounting to employ idle cash to earn risk-free, double-digit rates of return by making early payments to suppliers.

Learn how, with supply chain finance, you can access low cost capital, generate free cash flow, optimize payment terms and improve DPO.

Learn how, with supply chain finance, you can access low cost capital, generate free cash flow, optimize payment terms and improve DPO.

 A Strategic Treasury Focus Boosts Cash Flow and Minimizes Risks Treasury operations manage the lifeblood of their companies: cash liquidity. CFOs know that their treasury teams are critically important, handling everything from cash flow...

 A Strategic Treasury Focus Boosts Cash Flow and Minimizes Risks Treasury operations manage the lifeblood of their companies: cash liquidity. CFOs know that their treasury teams are critically important, handling everything from cash flow forecasts to optimizing working capital, along with foreign exchange currency risk and investing and borrowing. The team’s performance has a direct impact on the bottom line. Yet, 22% of CFOs and senior finance executives say they don’t see their treasury team as a profit center, according to a recent survey by CFO Research and Kyriba. And only a quarter of the executives say their treasury operations are operating at a high level with a strategic approach. This report examines what the survey says about the links between treasury and overall performance, the obstacles that treasury teams face and how CFOs can boost their treasury performance to improve overall profitability. Which of the Following Best Describes Your Role? KEY POINTS Senior finance executives expect treasury teams to manage critical tasks linked to cash flow and risk, according to a survey. That three-quarters of finance executives view their treasury operations as strategically lacking. Obstacles faced by treasury teams include complex financial structures and siloed systems, and a lack of technology investments, real-time business intelligence, expertise and process automation. A lack of spending on treasury and a focus on everyday tasks over strategic objectives block progress for treasury teams. Working capital optimization is the top treasury concern of financial executives moving forward. The surveyed finance executives also acknowledge that their treasury organizations need to make technology and process improvements to meet industry best practices. Predictive analytics, payments automation and cash management are the top three technology and process improvements that treasury teams need to make, according to the survey respondents. WHY TREASURY PERFORMANCE SHOULD DEMAND YOUR ATTENTION There is widespread agreement among CFOs and other senior finance executives: Treasury performance is critical to the health of their organizations, and they expect their treasury teams to manage a range of critical tasks. According to a 2020 CFO Research/Kyriba survey, senior finance executives give similar weighting to a range of treasury department priorities: accurately forecasting cash flow, operational efficiency, fraud prevention, compliance, optimizing working capital and FX risk management are somewhat evenly matched. Rather than singling out one or a few of the priorities, the 156 surveyed executives indicate that all are nearly equally important. The survey also reveals another theme: finance executives tie treasury performance directly to cash and liquidity management. The surveyed executives measure treasury performance based primarily on free cash flow, cash used for working capital, productivity and efficiency, investing and borrowing performance, and reduced risk exposure. These are all important, of course -- liquidity drives business performance, CEOs often give guidance to the investment community about meeting free cash flow targets and cash is needed for working capital. What Are Your Current Priorities Related to Treasury? But whether or not the finance executives formally track these factors as key performance indicators for their treasury teams, nearly all of the executives have the same expectations. They want better returns from cash, more optimized investment and borrowing, best practices executed for liquidity and cash management, and protection against fraud. On the topic of the best ways for treasury teams to optimize liquidity, the survey respondents again see almost-equal priorities rather than one or two favorites, giving nearly the same importance to reducing borrowing costs, increasing returns on excess cash, generating free cash flow, mobilizing global cash more efficiently and implementing supplier financing programs. They also give similar weights to each of eight areas where their treasury teams could make a better contribution to overall business performance. Increasing cash flow is the favorite at 41%, followed by increasing interest earned on excess cash, protecting against payments fraud, improving treasury team productivity, centralizing treasury data and processes, reducing currency volatility impacts, providing secure and efficient global payments, and providing business continuity planning for global treasury. Finance executives expect their treasury teams to meet all of these cgoals, and if they aren’t done right, it costs their organizations in financial losses or missed opportunities. CFOs recognize that cash is the lifeblood of their organizations. When treasury can manage cash and liquidity well—if it can provide visibility to cash and deploy it effectively, optimize investment and borrowing, and protect cash from fraud and currency risks—then it sets itself up to optimize how cash is made available and deployed, such as for cash operations, stock dividends or company growth in other parts of the world. THE CURRENT STATE OF TREASURY Despite the consensus that treasury operations are integral to company success, the survey also shows that treasury operations are lagging considerably behind the vision that the CFOs and other finance executives have for them. Surprisingly, 22% of the surveyed executives say they don’t see their treasury team as a profit center. On behalf of those who don’t share that view, 53% of the surveyed executives say their treasury teams contribute as a profit center by earning greater returns on cash and 34% say they contribute by unlocking supplier discounts for early payments. Rounding out the profit-center views, 28% see contributions from treasury’s FX intercompany management and 24% from viewing treasury as an in-house bank. On the bright side, 78% of the CFOs and other senior finance executives in the survey view the role of treasury as actively contributing to the bottom line. And most are earning greater returns on cash from areas such as investment income on the large cash balances that companies frequently hold in today’s economy. They also value cash management and see cash as something that can help create profitability and improve margins. The glass-half-empty view? The executives in the 22% contingent probably are not aware of the potential links of treasury to value creation, and are likely not investing in things like cash forecasting or technology that will help their treasury teams contribute in strategic roles, viewing cash merely as a means to pay bills, and not much more. How Do You See Your Treasury Team Contributing as a Profit Center? When asked about their current state, only one quarter of surveyed finance executives describe their treasury operations as “strategic,” the highest level, meaning that treasury “creates value through enterprise-level insight and intelligence.” Three out of every 20 finance executives surveyed say treasury is operating at an “ad-hoc” level, or the lowest level, which is primarily reactive. Anything below strategic is suboptimal. But why are treasury teams being placed in the not-strategic category? The surveyed finance executives report several internal obstacles that restrict the CFO’s ability to support organizational growth and bottom-line value, with a fairly even distribution between those obstacles: complex financial structures, siloed or disparate financial systems, lack of resources, insufficient technology investments, lack of real-time business intelligence, lack of expertise and lack of process automation. All of these obstacles point to a mindset that the company hasn’t invested the time and money necessary to improve treasury processes and the systems that support them. They also signal a lack of collaboration and coordination in the way the financial structure is set up. A lack of spending on treasury and a tactical focus, where time is spent on completing everyday tasks at the expense of forward-looking achievements, translates to lower productivity for treasury teams, especially for the range of critical tasks and high expectations that CFOs have set out for them. Companies are getting in their own way when they fail to prioritize treasury operations and don’t invest in the capabilities and tools that treaury needs. HOW TO GET BETTER CFOs value the importance of treasury operations, and most of them recognize that their treasury teams haven’t reached a strategic level yet. So how do they set up treasury to achieve its full potential? The key barrier is that treasury teams often get so bogged down in reactive tasks that they don’t create opportunities to work on strategic tasks. If treasury can get around its mountain of tactical work, it can be more proactive with insights and analysis. One way that CFOs appear to be attacking this issue is through technology. The survey shows that more than one-third of the respondents use connectivity middleware/payment hub software, data visualization/business intelligence software and mobile devices for multifactor authentication with their finance teams. A slightly lower percentage of the surveyed finance executives employ application programming interfaces to banks and trading partners, as well as machine learning and robotic process automation. All of these technologies help harness data and can make treasury teams more effective and analytical, which helps them make better decisions about managing cash and liquidity. Fostering more analysis of data and information creates an opportunity for treasury and finance to become more strategic. TREASURY ORGANIZATIONS NEED TO MAKE TECHNOLOGY AND PROCESS IMPROVEMENTS TO MEET INDUSTRY BEST PRACTICES. PREDICTIVE ANALYTICS ARE AT THE TOP OF THE LIST, CITED BY 45% OF THE RESPONDENTS AS AN AREA OF INTEREST, FOLLOWED BY PAYMENTS AUTOMATION AT 32% AND CASH MANAGEMENT AT 31%. In Which of the Following Areas Does the Treasury Organization Need to Imporve Its Technology and/or Process to Match Industry Best Practices? The surveyed finance executives also acknowledge that their treasury organizations need to make technology and process improvements to meet industry best practices. Predictive analytics are at the top of the list, cited by 45% of the respondents as an area of interest, followed by payments automation at 32% and cash management at 31%. The number of organizations utilizing technology that still acknowledge the need for improvement show a level of aspiration. CFOs and their organizations are recognizing they need to make changes to achieve the performance standards they’ve set for their treasury teams based on free cash flow and other factors. What Are Your Top Three Treasury Concerns for 2020 and Beyond? Looking ahead, the top three treasury concerns for 2020 and beyond are working capital optimization, according to 41% of the surveyed executives, followed by payments fraud for 29% and low interest rates for 28%. The other items on the treasury concerns list include treasury operating costs, treasury productivity, currency volatility and business continuity. The diverse pattern of responses indicate that other than with working capital optimization, every organization will have its own individual set of priorities for fortifying its treasury operations. Also, with no consensus about treasury deficiencies, each organization will have to carefully examine and gain a better understanding of its own treasury team, which could lead to visibility that hasn’t previously existed. The bottom line is that CFOs and other finance executives value their treasury teams, and they have a good understanding of all the vital benefits that their teams can deliver—a point made repeatedly through the survey results. Although there may not be a simple fix, they’ve identified a list of internal obstacles that they must overcome to improve treasury. They also recognize the opportunity at hand: to bring their treasury operations up to a strategic level where they can fulfill their potential. To make that happen, they need to arm their treasury teams with the right tools to understand and analyze data, and to make better decisions. Starting with some simple investments in technology, CFOs can improve the efficiency and effectiveness of treasury. And as that efficiency and effectiveness grows, it increases the probability of good outcomes like increased profitability. CONCLUSION Treasury performance is tied directly to cash and liquidity management. CFOs know that accurately forecasting cash flow, operational efficiency, fraud prevention, compliance, optimizing working capital and FX risk management are all critical tasks that their treasury teams must manage to sustain the health of their companies. Most of them also recognize that their treasury teams need work. Most treasury operations fail to achieve their full potential because they get bogged down in tactical, reactive work. Treasury teams need investments in predictive analytics, payments automation and cash management. As technology and process improvements help treasury teams to harness more data and employ more analytics, those teams will become more strategic and capable of meeting their CFOs’ expectations. And companies will enjoy improvements in free cash flow, cash usage for working capital, productivity and efficiency, investing and borrowing performance, and reduced risk exposure.     Check out this on-demand webinar and learn how 2021 AFP Pinnacle Award Winner HCSC transformed into a data-driven treasury with 1000+ hours of productivity improvement and 90% reduction in working capital requirements.

“We have standardized what were once fragmented, global payment processes across multiple ERPs, enabling automation, stronger controls and better visibility.” Janice Minter, Senior Treasury Analyst, Amway Key Payments Challenges The continued growth and global...

“We have standardized what were once fragmented, global payment processes across multiple ERPs, enabling automation, stronger controls and better visibility.” Janice Minter, Senior Treasury Analyst, Amway Key Payments Challenges The continued growth and global nature of Amway’s business presented many positives, but it also created challenges for the treasury function. Amway’s operations spanned more than 80 markets, but more than 200 local banks were used for cash management and 50 banks initiated and transmitted payments. Maintaining bank connectivity with source systems was taxing and the treasury team recognized that a transformation of the global payments process was required to scale to growing business needs. The key challenges that drove treasury to this conclusion included: A lack of transparency into global payments Inconsistent payment controls across countries Inefficient alignment of payments to shared services operations Increased risk of unauthorized and fraudulent payments Numerous banking connections needed for source systems A Plan for Payments Transformation At the inception of the project, Amway conducted a detailed analysis to help identify specific areas of the payments process that needed improvement. The analysis concluded that the company’s technology infrastructure was unable to meet expected future payments volume; current processes did not support remote access and payment connectivity; and payments were initiated out of too many banks and accounts resulting in unnecessary banking fees. To remedy the issues, Amway established a list of goals for the payments transformation process: Implementation of a single payment hub technology to consolidate payment activity into one portal Automatic management of bank payment formats Support of SWIFT connectivity and select host-to-host connectivity protocols for enhanced bank security and encryption Integration with the company’s new ERP solution for digitized integration of approved payment files Building a Better Payments Workflow Post-needs analysis, Amway chose Kyriba as its treasury management system (TMS) and designed an entirely new global payments workflow, including a technology roadmap that outlined the need for a best-of-breed payments platform. In the new workflow, business units initiate payments for approval within the ERP system. After all approvals are in place, the payments are added to the ERP’s payment file and sent from one of three regional finance shared service centers to the Kyriba payment hub where the appropriate banking formats for each bank are identified. To address Amway’s complicated banking connections to source systems, a singular pipeline (standard payment template) was created. Today, Amway’s source systems leverage that template to provide the payment file to Kyriba and Kyriba manages the connections/specs with the company’s banking partners, freeing up IT resources to focus on other business initiatives. After banking formats for each bank are identified and attached to each payment, an approval at the batch level is required for payments to be transmitted by the bank’s choice of connectivity, including a direct host-to-host solution to transmission via Amway’s SWIFT BIC. After the payment file is received by the bank, payment acknowledgments (ACKs and NACKs) are imported into the payment dashboard within Kyriba. Service center staff leverage this data to track payments in real-time. To close out the workflow, prior-day bank statements also flow into Kyriba and the ERP’s cash management module, enabling automatic reconciliation of daily bank statements. Lastly, verified payments are processed to the general ledger. An Award-winning Payments Centralization Program Amway’s initiative to transform the way it managed global payments was no small feat. The centralization of payments to three regional shared service centers was a significant shift away from local expertise and siloed payments. Local bank portals and processes were replaced with payments technology from Kyriba and the number of banks used for payments were cut in half. Amway was able to drive cost savings and operational efficiencies through overhauling their payments process. In recognition of its efforts, Amway won the 2019 Silver Alexander Hamilton Award in Working Capital and Payments. Overall, Amway was able to realize reduced risk of payment fraud, improved productivity, standardized payment controls and a reduction in working capital requirements.   About AmwayAmway is an entrepreneur-led health and wellness company based in Ada, Michigan. It is committed to helping people live better, healthier lives – across more than 100 markets worldwide. According to Forbes magazine, it is among the Top 50 privately held, family-owned companies in the United States. Top-selling brands for Amway are Nutrilite™, Artistry™, and XS™ energy – all sold exclusively by entrepreneurs who are known as Amway Business Owners. Amway is the No. 1 direct selling business in the world, according to the 2021 Direct Selling News Global 100.

The Kyriba Payments Network helps businesses of all sizes accelerate ERP cloud migration projects and simplify global bank connectivity and format transformation projects. With Kyriba's Connectivity-as-a-Service, companies can drastically reduce the amount of time...

The Kyriba Payments Network helps businesses of all sizes accelerate ERP cloud migration projects and simplify global bank connectivity and format transformation projects. With Kyriba's Connectivity-as-a-Service, companies can drastically reduce the amount of time and resources needed to complete these projects, allowing businesses to focus on other areas of digital transformation. The Kyriba Payments Network is a powerful tool for CFOs and their teams, providing them with access to an expansive global banking network and the capability to manage payments across multiple internal systems such as ERP, Payroll, and TMS. With this network, teams have the ability to streamline their financial operations, improving efficiency and reducing the costs and risks associated with manual payment processing. By consolidating payment activities within one Payments Hub, customers can take advantage of Kyriba's real-time visibility to their payments through customizable dashboards, which are fully accessible also via the Kyriba Mobile application. Kyriba also provides a comprehensive suite of payment controls with a strong emphasis on separation of duties. It offers real-time payments fraud prevention, compliance and anomaly detection, as well as sanctions list payment screening, so your organization can be confident that all payments are compliant and safe from potential fraud. These payment controls are designed to ensure maximum protection, offering organizations the peace of mind that their payments are secure and compliant. In summary, Kyriba Payments Network enables: Real-time payments tracking across the enterprise with full transaction visibility, including SWIFT gpi compliance Flexibility in banking partners for the most advantageous relationships, cost savings, and enhanced governance Opportunities to create more shared service centers, implementing netting of POBO (Pay-on-Behalf-of) models and execute cross-border payments Managing payment and discounting terms with suppliers and allow payment services, formats, and standards to be fully managed by Kyriba with no internal IT dependency Providing finance teams with real-time data visualization and payment analytics that strengthen payment decisions Access mobile dashboards to allow approvals by remote users Use out-of-the-box connectivity to access all major regional payment networks (including SEPA, ACH, Fedwire, etc.) and real-time payment (RTP) rails Watch this video to find out more.

In transitioning from legacy and largely manual processes for hedging foreign exchange (FX) risk management, the treasury department of Trane Technologies sought greater visibility and quantification of its exposures. This involved partnering with a...

In transitioning from legacy and largely manual processes for hedging foreign exchange (FX) risk management, the treasury department of Trane Technologies sought greater visibility and quantification of its exposures. This involved partnering with a dedicated technology provider and adoption of a centrally-led FX management strategy. "Kyriba resolves our immediate FX risk management limitations and allows us to develop best in class solutions." Chris DonohoeAssistant Group Treasurer, Having previously suffered an inability to determine key factors impacting FX exposure in real-time, analysis was reactive rather than proactive; numerous ERP systems with varying capabilities made analysis complicated, cumbersome and directional in nature, so hedging was limited only to known exposures such as intercompany loans; and consolidation tools provided functional currency or USD transparency, without transactional currency details. To address these gaps and translate exposure management into meaningful analysis that adds value to the business, Trane Technologies turned to FiREapps, now a Kyriba company. "We now have have the ability to work with our entities on specific projects and to implement business solutions rather than simply providing high-level FX hedging." Chris DonohoeAssistant Group Treasurer, Net Asset Position by Currency — to map and detail net asset exposure by asset category, legal entity, SBU, region and enterprise Map FX Accounting — to cross check for FX bookings in relation to P&L, CTA and cash flow reporting Hedge Determination — to determine Value at Risk (VaR) analysis for all hedging programs and portfolio risk optimisation to determine most efficient strategies Advanced Reporting — to explain sources of noise in the FX results and provide dashboard reporting on balance sheet hedging effectiveness Thanks to working with Kyriba for the past two years, Chris and his team are now able to cite quantitative and qualitative benefits beyond expectation, the most impressive of which is achieving 97 percent realtime visibility of group FX exposure. Most note-worthy is the global reduction of risk by an excess of 50 percent over 12 months based on the VaR quantification, which is immense for a company of this size and stature. “We in treasury have evolved into a true strategic partner to the business rather than just a corporate function,” explains Chris. “We now have have the ability to work with our entities on specific projects and to implement business solutions rather than simply providing high-level FX hedging.” Chris also notes an increased engagement from the business, resulting from awareness training and a more detailed outline of exposures. Global group risk quantification and trend analysis by business unit and by currency and dashboard presentations for business and board perspectives are also clear strategic benefits. Some Examples of the New Global Net Asset Exposure Quantification Process NB: figures and currency pairs not actual - for example purposes only

Five years ago, its corporate treasury team initiated a journey from corporate policy maker towards a strategic and pro-active corporate treasury department. With a centralized operations team as part of a new organisational set-up....

Five years ago, its corporate treasury team initiated a journey from corporate policy maker towards a strategic and pro-active corporate treasury department. With a centralized operations team as part of a new organisational set-up. The purpose of this change was to gain global insight and control of the company’s cash and support the basic treasury functions in the shared service centers. The first step was the implementation of a centralized payments hub that supported the standardization of the global payments processes. After one of the main cash management banks announced its termination of the global cash management services, the corporate treasury team realized that if they wanted to initiate change and achieve the envisioned results, each team member needed to have a focus. A dedicated treasury operations team was created to include a treasury project manager and treasury systems manager. Also key in the foundation of this transformation was the development of a dedicated treasury-owned IT strategy that set clear guidelines for the selection of new systems. Choosing cloud solutions was particularly important in future-proofing the treasury operations, in order to reduce overall dependence on internal IT, and always have an up-to-date version in order to improve speed of decision-making. “We now have the tools to further optimize our cash flows and processes, quickly and efficiently. We can provide better internal insight and authority to our stakeholders and because of the automation we have more time for strategic thinking.” Jeroen Brieffies Group Treasurer Royal FrieslandCampina   This setup kick-started acceleration towards an optimal global payment and collection process that would become more time and cost efficient and less error-prone using an efficient and lean IT infrastructure. Project Everest, as it was named, was born in 2017 to realise these objectives. After careful consultation by the main stakeholders, the project plan was mapped out with four camps to reach the summit. 1) Intercompany Netting: The shared service teams spent a lot of time on correcting errors with intercompany invoices. The settlement of internal payments were processed on a gross basis via external bank accounts. In 2017, corporate treasury selected Coprocess as their global netting tool for matching, discussing and monthly netting. The netting of one million invoices per year is now a continuous process, which releases the pressure of month-end processing by the shared service centers and reduces the transaction charges by 100,000 euros per year. The largest savings though are gained via the realized process optimization. 2) In-house Banking: To provide a basis to further reduce external payments and move away from notional pooling, an in-house bank system was selected and implemented in 2018. During the selection process Kyriba provided FrieslandCampina with an opportunity not only to set up a solid in-house bank, but also to update and integrate the TMS functionality within one solution. The total solution was implemented in six months and went live at the end of 2018, with full treasury functionality and an in-house bank. After the conversion of notional pools to zero balancing pools, the in-house bank has over 180 accounts, and a balance of 3.7 billion euros. The first cashless payments of intercompany interest, FX, and netting are booked via the in-house bank, and the number of external bank accounts is reduced by 50. 3) Payment Factory: With the in-house bank in place the last step on the route to the summit is the implementation of a payment factory. With the use of virtual accounts, FrieslandCampina wants to further reduce the number of bank accounts and gain control of outgoing and incoming cash flows. A pilot has been started in 2019 with multiple banks. 4) Beyond the Summit: FrieslandCampina is continuously looking at digital optimization, and using the efficient set up of the treasury operations team to achieve objectives. Next on the agenda is the implementation of Kyriba’s FX risk management module (formerly FiREapps), to automate FX trading and centrally calculate and monitor FX exposure. RPA (Robotic Process Automation) will also be implemented to further reduce manual steps in the treasury and netting processes. Thanks to the focus the team now has on operational excellence, the project Everest has so far been delivered on time, with integrated processes, without interruption to the business, within budget, and beyond expectation. “We are so proud of the digital transformation journey initiated by treasury,” says group treasurer Jeroen Brieffeis, project manager of Everest. “We now have the tools to further optimize our cash flows and processes, quickly and efficiently. We can provide better internal insight and authority to our stakeholders and because of the automation we have more time for strategic thinking.”

FrieslandCampina has branch offices in 34 countries and employs around 23,000 people. It is not a listed company, but a cooperative, in which the member dairy farmers in the Netherlands, Germany and Belgium fully...

FrieslandCampina has branch offices in 34 countries and employs around 23,000 people. It is not a listed company, but a cooperative, in which the member dairy farmers in the Netherlands, Germany and Belgium fully own the company. “We therefore operate a bit differently from listed multinationals,” says Jeroen Brieffies, Head of Treasury Operations at Royal FrieslandCampina. “We have an ‘owners mindset’, with a clear culture focused on farmers products.” Complex organization Brieffies returned to the Netherlands around five years ago, after being stationed in Switzerland. “At that time, we wanted to benchmark our treasury organization and asked Zanders to do a strategic analysis for us. It appeared that we performed very well on funding and on risk management but were lacking in support towards the operational side of the business. We then started a journey from being a corporate policy maker towards a strategic and pro-active corporate treasury department with a centralized operations team as part of a new organizational setup.” “Before we started this project, we had a lot of intercompany flows. Everybody was sending invoices to each other and at the end of the month we had to see if it all matched well. But now, instead of waiting until the end of the month, we have a continuous process and some dedicated people in intercompany teams are working on that. With the Kyriba tool we’re able to centralize all cash, which makes it much easier to do our day-to-day cash management. We paid the bank for having an in-house bank and there was a notional cash pool. If you have a system to take care of that, it makes many things a lot easier and is cost-saving too.” Jeroen Brieffies Head of Treasury Operations Royal FrieslandCampina   During this period, a lot of things started to move at FrieslandCampina. The organization had already started a project called Summit, to standardize all SAP instances within the whole company, which required all entities to comply to these standards. At the same time, financial shared service centers (FSSCs) were being set up, in which all payments, collections and other administrative activities were centralized. The rise of these new developments led to the idea of setting up a treasury operations department within corporate treasury. This would support the business more in its daily operations, and ensure treasury could standardize the payment and collections processes. The first step towards the support of the FSSCs was the implementation of TIS as a payment hub. Because of his time in Switzerland, Brieffies came up with the project name Jungfrau – one of the famous mountain tops in the Alps. That mountain can now be reached easily, after a complex building process of a railway – making it an appropriate metaphor for the difficult process you have to go through in order to create more efficiency in the end. Everest project The new developments and objectives led to the start of a project named ‘Everest’. Brieffies explains: “the implementation of TIS kickstarted an acceleration towards an optimal global payment and collection process that would take less time, be less erroneous and less costly, using an efficient and lean IT infrastructure–and that’s why we called this next big step project Everest.” “We first decided to set up some workshops with FSSC’s, finance & reporting, tax and corporate legal, to point out the challenges we had in this process,” Brieffies continues. It then turned out that the whole internal process offered challenges too. “As a dairy company we are like an oil refinery; milk comes in and we make all kinds of components that we use for several products. So, both logistically and financially we have to make sure that all this follows the correct route. We therefore decided to start with the intercompany netting first. Then we’d have a solid base metaphorically called ‘Base camp’; a standardized ERP-system, FSSCs to centralize our payments and collections, and a payment tool. And once we have intercompany netting, we want to move up to an inhouse bank to take care of all the internal payments.” Corporate treasury selected Coprocess as their global netting tool provider for matching, dispute resolution, and monthly netting of around one million intercompany invoices a year. On top of that, FrieslandCampina is currently looking at the opportunity to set up a payments and collections factory, to do its payments and collections ‘on behalf of’ (POBO and COBO). “The challenge in that is mostly the collections,” says Zanders consultant Bart Timmerman. “You can direct payments yourself, butit’s not certain on what account clients will do their payment and what references they use, if any. So, reconciliation of incoming payments is in that sense a big challenge.” A dedicated project manager Due to this reconciliation challenge, Brieffies hired Zanders for support. “We asked Zanders to draft a blueprint and to support us in the implementation of the Kyriba tool we selected as our new treasury management system. When we set up treasury operations and started with TIS as our payment hub, we noticed that we had a tool within our FSSCs, but we needed manpower in corporate treasury to support it. The corporate treasury team realized that if they really wanted to make a change and get the envisioned results, each team member needed to have focus.” A dedicated treasury operations team was created, which included a cash and currency manager, a treasury systems manager and a treasury project manager. Next to the new team setup, another major foundation to this transformation was the development of a treasury IT strategy that set some clear guidelines for the selection of new systems. Choosing cloud solutions was particularly important in future-proofing the treasury operations. This allowed treasury to reduce overall dependence on internal IT, and always have an up-to-date version in order to improve speed and decisiveness. “A project like Everest could not have been realized without a dedicated project manager,” Brieffies notes. “My colleague Marije Siebenga filled in that role and was the driving force behind this project. And at the end we could elevate it all up to a higher level.” “Project management was one of the key success factors of this project,” says Zanders’ Timmerman. “It was very clear what direction the company wanted to go, what system it needed to get there and what Zanders’ and Kyriba’s roles were.” Nick Clare, responsible for Kyriba’s European channel sales agrees: “All issues were sorted out quickly, mostly because FrieslandCampina’s Treasury was very vendor-savvy. They always took full ownership of the solution. That’s a role model.” Having everyone involved This proactive approach from FrieslandCampina’s treasury even saw it, together with Kyriba, being nominated for the EuroFinance digital transformation award. “The scale of the company is vast and very complex with hundreds of entities, so it’s commendable what its treasury has done,” says Kyriba’s Clare. “Friesland-Campina now has a platform that they can scale.” Guided by the blueprint, FrieslandCampina implemented the new system itself. And that’s a role model for how system implementation should be done, according to Timmerman: “At the end, the company needs to adopt and know the system. So, after teaching them the tricks, it’s better for our clients to work with the system themselves.” This is a sentiment that Brieffies agrees with: “All users had to get used to the system which sometimes resulted in a critical stance, but now that their processes are automated, they are very enthusiastic and supportive. In these kinds of projects, it’s important to have everyone involved, like the back-office team, finance and IT. They need to support your solution–that’s often underestimated.” Mutual dependency Using a treasury solution like Kyriba should lead to improved efficiencies and the benefits of having fewer repetitive tasks. This is something that applies to the rest of the business too, thanks to Project Everest. “Before we started this project, we had a lot of intercompany flows,” Brieffies says. “Everybody was sending invoices to each other and at the end of the month we had to see if it all matched well. But now, instead of waiting until the end of the month, we have a continuous process and some dedicated people in intercompany teams are working on that. With the Kyriba tool we’re able to centralize all cash, which makes it much easier to do our day-to-day cash management. We paid the bank for having an in-house bank and there was a notional cash pool. If you have a system to take care of that, it makes many things a lot easier and is cost-saving too.” This is the reason FrieslandCampina has its own treasury system manager connecting all systems within the company to the treasury system. “There is now a mutual dependency,” continues Brieffies. “In the past, treasury was dependent on the business delivering information, but now it’s also the other way around. The business wants to know its in-house balance.” Next steps In terms of treasury maturity, one of FrieslandCampina’s goals was to undergo a transformation. “We did our strategic benchmarking in 2015 and made a road map for the coming years,” Brieffies explains. “But now we would like to see what progress we have made and where we are compared to peer corporate treasuries.” “It’s good to do a treasury scan regularly, because treasury technology is changing fast and peers are developing too,” comments Zanders’ Timmerman. “So – using the metaphor – after a few years the mountain tops will be higher.” Brieffies is now working with his department on a pilot to set up virtual bank accounts. “We see that as a necessity to have the COBO in place. We need to reconcile what we received for selling specific dairy product, such as yoghurt, cheese or ingredients, in order to provide the correct management information.”

A Fragmented View In 2010, Wanhua began the process of upgrading its finance technology. At the time, it relied on numerous e-banking solutions, which was not only inefficient but resulted in the business having...

A Fragmented View In 2010, Wanhua began the process of upgrading its finance technology. At the time, it relied on numerous e-banking solutions, which was not only inefficient but resulted in the business having an incomplete record of its payment transactions. Meanwhile, the growth in its overseas business highlighted some shortcomings in group-wide treasury management. As a result, Wanhua wanted to adopt a treasury solution that would serve to unify its domestic and international operations. "By optimizing, integrating and automating our systems to achieve the end-to-end processing of domestic and international payments, we have laid the foundation or the eventual consolidation of all financial data across the group. The solution has also helped Wanhua to more easily adapt to unpredictable economic changes, meet global regulatory standards and support China’s globalization strategy with a view to overseas expansion.” Zhang Shoujun General Manager, Finance Department Wanhua Chemical Group Unifying International Operations Finance IT Manager Feng Yongjin wanted to deploy a treasury management solution that would enable Wanhua to enhance and “futureproof” its ‘super e-banking’ capabilities. The solution, which needed to be expandable and scalable, had to provide an automated, centralized and global view of the company’s financial position. This would allow the company to improve internal security and controls, and reduce the risk of payment fraud. The solution also needed to enable intelligent processing in order to improve customer and supplier satisfaction. Establish transaction data maintenance requirements for each overseas entity and create a processing template that was in line with corporate business standards. Achieve global data integration with all of the company’s supplier banks with the objective to meet current and future language and policy requirements of each entity. Build a globally-unified processing platform for automated, smart payment routing based on big data analysis from international bank accounts. Supporting Overseas Payments During the implementation process, Wanhua fully mobilized the global resources of Kyriba and its partner banks. It undertook manual inspections, as well as multiple rounds and combinations of stresstesting. Kyriba designed standard payment templates to meet Wanhua’s current and future business needs and established a standard for the maintenance of transaction data. Kyriba’s cloud-based treasury management solution integrates data from Wanhua’s enterprise resource planning system with data provided by its supplier banks. As a result, the solution supports Wanhua’s banking activities, including international and Chinese wire transfers, electronic acceptances, e-commerce business, letters of credit and different payment types. Additionally, Wanhua was able to automate 98 percent of its payments and cut their accounting entries in half thanks to the streamlined settlement and accounting rules brought on by Kyriba that adhere to the requirements of each local jurisdiction. Intelligence and Visibility With the help of Kyriba, Wanhua Chemical Group has established a global data standard for its supplier banks, achieved integrated and automated payments processing, and connected 13 overseas banks in five countries. The company has also been able to unify and standardize payment templates, reduce the cost and extent of manual operations, and gain greater intelligence and visibility in terms of global treasury management.

Please see the Appendix for detailed methodology, market definition, and scoring criteria. In This Excerpt The content for this excerpt was taken directly from IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk...

Please see the Appendix for detailed methodology, market definition, and scoring criteria. In This Excerpt The content for this excerpt was taken directly from IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications 2019–2020 Vendor Assessment (Doc # US45685819). All or parts of the following sections are included in this excerpt: IDC Opinion, IDC MarketScape Vendor Inclusion Criteria, Essential Guidance, Vendor Summary Profile, Appendix and Learn More. Also included is Figure 1. IDC Opinion The role of today's treasury professional is rapidly changing and expanding. While cash management and cash forecasting continue to be strategic priorities, treasurers are also increasing their focus on supply chain finance, insurance, and commodities. However, many treasurers find themselves working with the same amount of resources. Today's treasury professionals require more advanced and innovative technology to keep up with the challenge. This is driving the digital transformation that culminates in the intelligent treasury. What Are Some of the Benefits to the Intelligent Treasury? Cash visibility: Treasurers are asked to cope with the expanding complexities related to increasingly global business environments. Dealing with globalization demands that treasurers can manage and track far-flung operations and fund flows. Scalability: Treasury professionals must be able to efficiently manage complex financial transactions at pace and at scale. Analytics are quickly moving from a nice to have to a must-have for today's treasury professional. Treasury professionals are turning to advanced analytics and intelligence to assist in the process of remittance advice, cash forecasting, and monitoring cyberfraud-like account takeovers and check fraud. Streamlined financial controls: Organizations are reviewing procedures across business units and geographic boundaries and must work to find a way to streamline their regulatory compliance and mitigate compliance risks. Treasury departments must devote resources to understand the impact of these regulations and adjust their processes/systems to comply with them. Intelligence allows for tighter, real-time financial controls. Digital Tools Supporting the Intelligent Treasury As organizations move into the digital economy, focused on digital transformation initiatives, the functions of finance and treasury are turning to advanced technologies to enable the evolution. Fueled by the enormous amount of waste and inefficiency within the treasury workstreams, the CFO requires more advanced and innovative technology. Vendors are supporting digital transformation with new use cases that treasury applications can leverage with technologies such as big data and analytics and machine learning (ML) to perform efficiently. Software-as-a-service (SaaS) cloud: Treasury and risk management is one of the slower-moving application groups to the cloud. Customers making new purchase decisions for treasury solutions are overwhelmingly choosing public cloud offerings over on-premises/other software offerings. The ability to configure, upgrade, and add more functionality from the 3rd Platform and innovation accelerators is driving organizations to purchase cloud-based solutions. Artificial intelligence (AI)/machine learning: Machine learning has the potential to deeply transform the daily activities of treasury managers. The impact of this technology will be felt first in the areas of cash forecasting, cash positioning, and netting, where the technologies' ability to analyze data and make recommendations will be essential. Rise of APIs: Treasurers interact with many different external entities (e.g., banks, suppliers, and agencies) to manage company treasury assets. The answer to this issue is to allow treasury application software to connect directly with banking systems, so that information flows seamlessly between end users and their banking partners. The potential of APIs within treasury is significant. Predictive analytics: Businesses are interested in analytics as part of their travel and expense applications. Business intelligence and analytics improve visibility into liquidity patterns. The Enterprise Difference IDC defines the enterprise treasury market as any customer with 1,000+ employees. Among the largest businesses, treasury becomes less about the basics of treasury accounting, bank relationship management, and cash management and much more about moving money efficiently into and out of the financial markets. Financial risks management becomes highlighted among treasury departments within very large businesses. As a result, data management becomes critically important among enterprise treasury departments. Further: Finding business insights: Treasury professionals must be able to accurately account for and provide detailed information on millions of transactions. Treasury professionals need to both verify and analyze these transactions for relevant reporting metrics, business insights, and compliance. This information may come in a variety of formats and sources, and the amount of this type of information is increasing daily, rapidly making finding relevant business insights an extremely daunting task. Preserving treasury data security: Security has become a multifaceted issue because of the rise of cybersecurity threats and cyberfraud. Treasury professionals must now be vigilant against cases of traditional fraud (e.g., suspicious accounting records or corporate account misuse) and more modern cyberthreats. Treasury resources are now devoted to monitoring potential weak points in banking structure, supplier management, treasury systems, and payment files. Enhancing foreign exchange (FX): Today's treasurer is swimming in data and is finding FX with all its moving parts to be particularly difficult. Speed is another area of concern for treasurers, who desire the ability to move money around the clock and in real time into and out of the currency markets. However, with increased speed comes the need for more powerful real-time risk management capabilities. Complying and reporting: Treasury compliance is a rule-based process, often manual, that is handled on an exception basis from a historical transactional perspective. Without real-time treasury compliance, organizations are at risk for noncompliant employees and have an increased opportunity of fraud. IDC Marketscape Vendor Inclusion Criteria The vendor inclusion list for this document was selected to accurately depict the vendors that are representative of any given treasury management functional buyer's selection list. Vendors were further investigated to ensure that their offerings qualified as "SaaS or cloud enabled" and the vendor had won recent deals. Also, the treasury software must be available for purchase and implementation separate from other associated financial/ERP software. Advice for Technology Buyers The process of transitioning treasury management from a manual model to an intelligent model can be a challenging one. It is important to structure your treasury department to be more efficient and agile to cope with the ever-changing compliance/regulatory/liquidity demands. Here are a few key steps in the journey toward optimizing your treasury management department through the addition of an advanced software package like the ones listed in this document: Begin by looking inward: Before you choose your treasury management software (TMS) vendor or even whether dedicated TMS is a good investment for your organization, first you should take the opportunity to do some self-reflection. Here are some key questions to ask regarding the internal resources and processes: What are some of the issues I would like to resolve with this new system? Are the issues technology related? What are my internal support resources and capabilities? How should we define success for this implementation? Which internal stakeholders should we include in the evaluations processes? Select the right partners (internal and external): The first step in the journey to TMS is developing a strategy and plan for the implementation. This includes doing the due diligence in finding the right TMS vendor. Here are a few key questions to ask regarding the TMS vendor: Does the vendor have experience with my type of product, service, and company size? Can the vendor show me a hands-on demo with our organization's "live/real" data to show the benefit to the business? Does the vendor understand the regulations that will impact my business? How are these regulations reflected in my current product, and how will it change in the future? What is the vendor's strategic investment outlook for the next three to five years? Why? How will that change and enhance my business? Take ownership of the implementation: For the best results, organizations must take a very active role in the actual implementation of the software. TMS touches upon a lot of other back-office systems (e.g., ERP, finance, accounts receivable, supply chain, and inventory). As a result, extreme attention must be given to how the TMS system is set up and how it interacts with other systems within your organization. Here are some key questions to ask regarding a TMS implementation: What levels of support are available, and are they geographically available for my business? How should I set up the service-level agreement (SLA) before signing any contracts? Can the TMS integrate with my company's other IT systems and those of my partners? Which IT system needs to be integrated and to what degree? How are we set up to deal with frequent product updates? Realize that post-implementation is critical: In many ways, the success of any SaaS implementation hinges on what happens after the implementation is up and running. This is where change management takes center stage and the people side of treasury management becomes essential. Here are a few key questions to ask regarding the post-go-live phase of TMS implementations: Do we have a strategy to encourage rapid adoption among treasury employees? Do we have the right amount of training for employees to master the new features within the TMS system? Are we communicating the purpose and benefits of the system change to the treasury employees? Have we aligned existing policies and procedures to enable the adoption of the new workflows? This IDC MarketScape assists in answering the aforementioned questions and others. The goal of this document is to provide potential software customers with a list of treasury software companies that have taken great strides to incorporate the previously listed capabilities. We have profiled and assessed their capabilities to support the complicated area of treasury management software. Vendor Summary Profiles This section briefly explains IDC's key observations resulting in a vendor's position in the IDC MarketScape. While every vendor is evaluated against each of the criteria outlined in the Appendix, the description here provides a summary of each vendor's strengths and challenges. Kyriba After a thorough evaluation of Kyriba's strategies and capabilities, IDC has positioned the company in the Leaders category in the 2019 IDC MarketScape for worldwide SaaS and cloud-enabled enterprise treasury and risk management applications. Kyriba is a provider of cloud treasury and financial management solutions. Kyriba's product portfolio includes solutions for treasury and finance management, payments, supply chain finance, and FX risk management. Kyriba provides secure connectivity, real-time payments fraud detection, and end-to-end currency risk management in one platform. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Dubai, and Tokyo. Quick facts about Kyriba are: Employees: 750+ Total number of clients: 2,000+ Globalization: 12 global offices; supports 15 languages in 100+ countries Industry focus: Retail, telecom, consumer packaged goods, and manufacturing Ideal customer size: Upper midmarket and above SaaS: Multitenant SaaS platform Pricing model: Subscription based on number of active users Partner ecosystem: 100+ partners including Accenture, Deloitte, Infor, and Oracle NetSuite Strengths Connectivity: Kyriba offers "connectivity as a service" featuring seven different connectivity options to financial institutions, including APIs, MT Concentrator, and multiple SWIFTNet options. Kyriba connects to an extensive set of banks. Focus on cash forecasting: Kyriba offers a large array of modeling capabilities to drive predictive forecasting, including complex extrapolation algorithms and more recently artificial intelligence to project transaction clear dates. Kyriba's business intelligence forecast versioning enables more detailed forecast variance analysis and confidence in forecast performance Payments capabilities: Kyriba offers a complete payment hub to support complex treasury payments, ERP-to-bank connectivity, a library for 40,000 payment format scenarios, sanctions list screening, and real-time payment fraud detection. These are critical for customers seeking resilience and control against fraud and cybercrime. FX risk management capabilities: Kyriba offers an end-to-end FX risk management allowing users to identify, extract, and analyze balance sheet and cash flow exposures to understand the impact of currency volatility on earnings and mitigate FX risk through natural and intentional risk management. Challenges Changing perception of SaaS: Kyriba targets midmarket and large enterprise companies. Although the SaaS model offers more price elasticity for less complex organizations, some CFOs are still opening their minds to SaaS for treasury and, as result, may still be reluctant to deploy SaaS treasury. Small, inexpensive niche providers: There are several providers that provide partial functionality (e.g., only cash management) but offer inexpensive offerings and the promise of interfacing with other best-of-breed providers to deliver a complete solution Consider Kyriba When If you are an upper midmarket or large enterprise company looking for a suite of treasury or FX risk management capabilities, consider Kyriba. Appendix Reading an IDC MarketScape Graph For the purposes of this analysis, IDC divided potential key measures for success into two primary categories: capabilities and strategies. Positioning on the y-axis reflects the vendor's current capabilities and menu of services and how well aligned the vendor is to customer needs. The capabilities category focuses on the capabilities of the company and product today, here and now. Under this category, IDC analysts will look at how well a vendor is building/delivering capabilities that enable it to execute its chosen strategy in the market. Positioning on the x-axis, or strategies axis, indicates how well the vendor's future strategy aligns with what customers will require in three to five years. The strategies category focuses on high-level decisions and underlying assumptions about offerings, customer segments, and business and go-to-market plans for the next three to five years. The size of the individual vendor markers in this IDC MarketScape represents the market share of each individual vendor within the specific market segment being assessed. IDC MarketScape Methodology IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants, and end users. Market weightings are based on user interviews, buyer surveys, and the input of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions on the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information, and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor's characteristics, behavior, and capability. Market Definition Treasury and risk management applications support corporate treasury operations (including the treasuries of financial services enterprises) with the corresponding financial institution functionality and optimize related cash management, deal management, and risk management functions, as follows: Cash management automation includes several treasury processes involving electronic payment authorization, bank relationship management, and cash forecasting. Deal management automation includes processes for the implementation of trading controls, the creation of new instruments, and market data interface from manual or third-party sources. Risk management automation includes performance analysis, Financial Accounting Standards (FAS) 133 compliance, calculation of various metrics used in fixed-income portfolio analysis, and market-to-market valuations. Learn More Related Research Worldwide Treasury and Risk Management Applications Forecast, 2018-2022: Combating Fraud Through Advanced Technology (IDC #US43267118, June 2018) Worldwide Treasury and Risk Management Applications Market Shares, 2017: Treasury Manager Emerging as Trusted Advisor (IDC #US43267218, June 2018) IDC TechScape: Worldwide Intelligent Treasury and Cash Management, 2019 (IDC #US45024119, May 2019) IDC Market Glance: Treasury and Risk, 1Q19 (IDC #US44646619, March 2019) Synopsis This IDC study provides an assessment of the leading SaaS and cloud-enabled treasury and risk management applications and discusses the criteria that are most important for companies to consider when selecting a system. "The world of treasury and risk management is rapidly evolving and becoming more and more complex. So, too, has the role of treasurer manager evolved from simply being a steward of cash to a trusted advisor to the executive board," says Kevin M. Permenter, research manager, Enterprise Applications.

The Need for Accessible Supply Chain Finance Funding has historically been an issue for small and medium-sized suppliers of research services in the preclinical outsourcing sector. These companies are often forced to accept 120-day...

The Need for Accessible Supply Chain Finance Funding has historically been an issue for small and medium-sized suppliers of research services in the preclinical outsourcing sector. These companies are often forced to accept 120-day payment terms, which are set by large pharmaceutical organizations. As a result, suppliers struggle to access the necessary funding that would allow them to bid for projects in competition with larger rivals. Quantitative Results $4M Early Payments to suppliers in the first six months of the program 50% Reduction of the procurement process lifecycle 95% of Payments made on time $45.5K Revenue earned in three months 130% Increase in suppliers’ gross merchandise value 24.3% Increase in volume of purchase orders (PO) issued to suppliers 60-day reduction in payment terms 75.5% GMV average supplier gross merchandise volume (GMV) growth rate Unifying International Operations   "Finance is the heart of an organization. If there are limitations or constraints, you cut off the oxygen, or energy, to fuel the operational functionality of the organization – new innovation, R&D and day-to-day operations." Kris Kagan, Senior Vice President of Finance/HR Scientist.com   While major pharmaceutical companies do utilize supply chain finance (SCF) programs, they are often not accessible to smaller suppliers. For example, a program may only onboard suppliers that complete millions of dollars in spend. And even if suppliers meet this criterion, the onboarding process can then take months to complete and prove expensive for the program provider since large suppliers tend to have high operational costs. SciPay

Corporate treasurers are aware that the personal computing systems used for handling administrative and repetitive tasks are quickly becoming unfit to deal with frequent market changes and to manage complex data transactions between multiple parties and institutions.

Introduction Corporate treasurers are aware that the personal computing systems used for handling administrative and repetitive tasks are quickly becoming unfit to deal with frequent market changes and to manage complex data transactions between multiple parties and institutions. Therefore, corporate treasurers (especially in small and midsize enterprises [SMEs]) are replacing their basic personal accounting system with a more robust TMS and are in the process of learning how to select the right solution. It is not so infrequent that corporate treasury officers are put in front of myriad alternative solutions that only confound their selection process, as treasurers remain entangled in product demos and features-and-functions “fireworks” that make the short-listing decision harder. Aite Group is fully aware of this and proposes an evaluation approach that factors in all the key elements for a successful selection and, more important, an ongoing positive business relationship with the chosen vendor. This Aite Matrix evaluation report explores some of the key trends within the TMS market and discusses the ways in which technology is evolving to address new market needs and challenges. This report compares and contrasts the leading vendors’ offerings and strategies, and it highlights their primary strengths and challenges. In particular, it assesses each vendor’s readiness to offer product functionalities that Aite Group expects will become mainstream in the next two years. Finally, to help corporate executives make more informed decisions as they select new technology partners, this report recognizes specific vendors for their strengths in critical areas. Methodology Leveraging the Aite Matrix, a proprietary Aite Group vendor assessment framework, this report evaluates the overall competitive position of each vendor, focusing on vendor stability, client strength, product features, and client services. The following criteria were applied to develop a list of vendors for participation: International presence Functional coverage for corporate treasuries, assessing the vendors’ capabilities to offer a portfolio beyond the “basic” functionalities of a TMS: cash and liquidity management, payments initiation, bank account management, and cash forecasting Focus on companies with annual revenue over US$500 million Participating vendors were required to complete a detailed product RFI composed of both qualitative and quantitative questions, conduct a minimum 60-minute product demo, and provide active client references. The Players This section presents comparative data and profiles for the individual vendors that participated in the Aite Matrix evaluation. This is by no means an exhaustive list of vendors, and firms looking to undergo a vendor selection process should conduct initial due diligence prior to assembling a list of vendors appropriate for their own unique needs. Table A presents basic vendor information for the participating solutions. The Market The following market trends are shaping the present and future of the TMS market (Table B). Key Statistics This section provides information and analysis on key market statistics as well as projected IT spending related to the vendor market. Annual Revenue Estimates Analysis The market presence of TMS vendors is evenly distributed among various revenue tranches (Figure 1). The consolidation of the largest players has opened space for lower-tier vendors that have improved their international presence and enlarged the scope of their product portfolio. Profitability Analysis Although TMS vendors still find some resistance to change by corporate treasurers who prefer to remain loyal to their proprietary electronic spreadsheet tables, the demand for robust treasury software applications is strong. TMS vendors that are capable of corresponding to purchasing requirements (i.e., features and service) of their corporate prospects enjoy healthy returns (Figure 2). Growth Rate Analysis The positive results of vendor profitability are reflected in the breakdown of the assessed vendors’ growth (Figure 3). A consistent majority (63%) experienced a double-digit growth over 15%. Only a relative minority (12%) had limited—yet still positive—business success. The results were lower than expected in only one case. Client Breakdown by Type An analysis of the distribution of number of clients among TMS vendors (Figure 4) suggests a form of correlation with the vendors’ business profitability (Figure 2); the more clients served (a client is a registered company—multiple installations at same registered company count as one), the higher the profitability. As soon as the client base diminishes, the profitability drops significantly, only to increase again when there are fewer than 100 clients. The explanation may reside in the fact that profitable clients are large or very large corporations with budgets that recognize the value of the software and services combination and are ready to pay for it. With such a group of clients, TMS vendors are ready to expand their sales campaigns and are confident of two important elements: They have a good set of client references to leverage, and the profitable returns can subsidize the costs for extended sales programs that conclude with an increase in the market share and new client acquisitions. As soon as the resources to invest diminish, however, the client base is reduced, and this may create a vicious circle. Only by focusing on a limited—yet more controllable—pool of clients, the TMS vendors can generate efficiencies and offer standardized solutions that allow them to see their returns increase again. Aite Matrix Evaluation This section will break down the individual Aite Matrix components, drawing out the vendors that are strong in each area and how they are differentiated in the market. The Aite Matrix Components Analysis Figure 5 overviews how each vendor scored in the various areas of importance. Each vendor is rated, in part, based on its own data provided when responding to the RFI distributed by Aite Group as well as on product demos and follow-up discussions as part of the Aite Matrix process. Ratings are also driven by the reference customers of the examined vendors to support a multidimensional rating. VENDOR STABILITY Kyriba leverages its long-lasting presence in the market and global geographical presence. It also has a robust workforce with significant treasury management experience. Client Strength All vendors serve clients in multiple geographies and in a diversity of industry segments. Kyriba, in particular, received high scores from client reference checks for vendor reputation. Client Service Kyriba stands out from the competition. This must not induce in error believing that the other vendors are not careful to their clients. They all offer global and localized support as a standard service with no additional fees. They also measure their performance by contractualizing service-level agreements. The elements that differentiate Kyriba are relative to client reference feedback for service and support, as well as the low implementation costs relative to its pure Software-as-a-Service (SaaS) offering. Product Features All analyzed vendors deliver fundamental treasury management features of cash and liquidity management, cash forecasting, risk management, payments, investments, funds trading, and debt and equity deal management. The analysis for this report has gone deeper in assessing the vendors’ capabilities to deliver product features closer to the needs of the evolving role of the corporate treasurer: artificial intelligence (AI)-based application that suggests course of action based on the standards being followed in the country of reference, alerts from supply chain events that impact treasury operations (e.g., large purchase order will require funding, delivery delay to client requires cash inflows rescheduling, peak in production requires liquidity to pay extra working hours and temporary staff), and direct integration with major supply chain finance (SCF) platforms via APIs. The above are the specific features that Kyriba displays alongside an already robust TMS applications portfolio. The Aite Matrix Recognition To recap, the final results of the Aite Matrix recognition are driven by three major factors: Vendor-provided information based on Aite Group’s detailed Aite Matrix RFI document Participating vendors’ client reference feedback and/or feedback sourced independently by Aite Group Analysis based on market knowledge and product demos provided by participating vendors Figure 6 represents the final Aite Matrix evaluation. Best-in-Class Vendor: Kyriba Kyriba emerges as the clear winner among the examined contenders. Aite group appreciates the vendor’s extended product footprint to cover a large portion of a treasurers’ daily routine operations—namely, supply chain, trade finance, and bank account operations management from the corporate ERP or TMS. Kyriba excelled in the following: Vendor strength: Kyriba has a clear vision of corporate treasury’s needs and expectations. Its out-of-the-box thinking led the vendor to anticipate the benefits of integrating a supply chain finance engine as part of its core product’s stack. Its attention to leveraging APIs to create ERP and bank plug-ins is a further testament of this continuous attention. Product performance: Of particular relevance are cash forecasting tools, bank connectivity interfaces, and ease of use and implementation due to its native SaaS construct.   Best in Class: Kyriba Kyriba began operations in France in 2000 as a spin-off from Sage XRT (now part of Aritmos). The headquarters was relocated to the U.S. in 2004. Private equity firm Bridgepoint Capital became a majority shareholder in April 2019 and added a US$160 million growth investment to help Kyriba continue its product innovation and growth strategy. Kyriba delivers an in-house-developed pure SaaS finance software platform with integrated bank connectivity. Through its fully virtualized, multitenant treasury cloud, Kyriba offers a suite of solutions for corporate treasury and finance: treasury, payments, risk management, and working capital. The SaaS nature of the solution allows the firm to keep implementation time typically between six and nine months. Smaller, less complex projects can be rolled out in weeks. Kyriba is a SWIFT-certified application for cash management and an authorized reseller of SWIFT Alliance Lite2 for business applications. Kyriba’s SWIFT Service Bureau offers clients their own SWIFT BIC, fully managed by Kyriba, alongside an outsourced MT Concentrator model that allows organizations to utilize a SWIFT BIC specifically provisioned for Kyriba clients, instead of becoming a SWIFT member. The bank or corporate subsidiary data is consolidated, normalized, and integrated into a portal that provides liquidity dashboards, cash flow forecasting, daily cash positioning, and zero-balance account structure, as well as intercompany loan balance and transaction data, FX capture, tracking, and revaluation. After the injection of fresh funds from Bridgepoint Capital, Kyriba is focused on product development and continued customer support while expanding its partnership ecosystem. While the full list of implementation partners cannot be disclosed, the vendor employs an extensive partner program spread across regions, ranging from large partners such as Accenture to smaller domestic treasury-specific associates. Kyriba’s SaaS cloud-based solutions automate an “on-demand” collection of data from multiple banks and company subsidiaries, leveraging connectivity channels for both treasury and ERP that reach over 100 international banks with a prebuilt inventory of bank formats. Kyriba supports over 125 payment formats with over 45,000 different payment scenarios (e.g., by type, geography, bank). Relevant attention and investment are dedicated to APIs. The API integration builds upon Kyriba’s leading connectivity options, considering that recently published figures tell that the vendor processes more than 83 million bank transactions, 30 million payments, and 530 million ERP transactions on behalf of its clients each month through its global connectivity hub. Kyriba’s main target is to be recognized as the treasury management and payments hub solution provider that offers real-time payments to its bank partners’ corporate customers. In February 2019, Kyriba announced an API-based integration with Citi.1 Later in May, it announced a real-time payments feature using JP Morgan’s API that will enable joint Kyriba and JP Morgan clients to send real-time corporate payments in the U.S. through The Clearing House’s RTP network.2 Commenting on how the competitive environment will evolve over the next two years, Kyriba representatives believe that there is a possibility for further consolidation, as some competitors are challenged financially. It is unlikely that more competition will emerge, as recent entrants have struggled. As new technologies such as RPA and AI become mainstay requirements for treasury, the vendor expects a divergence between platforms that can evolve their technology and those that cannot. Another variable is the broadening of treasury responsibilities into areas such as risk management and procure to pay. Competitors that cannot extend their functionality to meet these additional requirements will find themselves uncompetitive. Kyriba is predicting growth across all sizes of organizations, including smaller midmarket businesses, with the Americas and the Asia-Pacific representing the highest growth markets. Aite Group's Take Kyriba’s strong tradition of long-term partnerships and its one platform that blends typical treasury and risk management functionalities, with additional features for payments and working capital optimization, create unique selling points that set a benchmark in the TMS market. Reference clients told Aite Group that the deciding factors to select Kyriba were the vendor’s company viability, its history of long-term well-established partnerships, the richness of treasury functionalities, and Kyriba’s value engineering support during the final evaluation process that provided the corporate decision-makers with the right elements to build the business case. An element that still creates a barrier to further adoption by prospective clients is the price of the TMS that may discourage companies with smaller treasury budgets than those traditionally served by Kyriba. Other business challenges are represented by the continuous demand from corporate treasurers to have immediate TMS solutions to manage unexpected FX volatility, adapt to innovative cash optimization techniques (e.g., dynamic discounting, real-time invoice discounting), and apply data intelligence algorithms to unstructured data sources (e.g., website transactions, social media data flows). Aite Group finds that Kyriba is well poised to exert and maintain competitive leadership by further investing monetary and intellectual resources to leverage the top technology trends that impact its corporate clients’ business: APIs, open banking, data visualization, real-time data analysis, RPA, and AI. Basic Firm and Product Information Headquarters: San Diego, California Founded: 2000 Number of employees: 700 Key financial information: Annual revenue US$110 million (estimated 2018) Key products and services: Kyriba (with modules that can be sold separately: Treasury, Payments, Risk Management, and Working Capital) Target customer base: Large and midsize corporations Number of clients: 2,000 Average client tenure: 10 years Global footprint: Global Implementation options: Pure SaaS Pricing structure: Based on module use, complexity, and number of users Key Features and Functionality Based on Product Demo AI-based application that pops up relevant KPIs based on business event triggers (e.g., bank change of price conditions, change in insurance premium) Cost accounting structure for treasury managed costs (e.g., staff, bank accounts, commissions) Alerts from supply chain events that impact treasury operations Alerts relative to political events in countries in which the client company does business—these alerts pop up any time the treasury office is executing operations related to that country What-if scenario planning triggered by financial event Integrate directly with major SCF platforms (e.g., Premium technology, Taulia, C2FO) via APIs Top Three Strategic Product Initiatives Over Last Three Years Real-time fraud detection for treasury and supplier payments End-to-end risk management from exposure identification and analysis to hedge accounting and compliance Data warehousing, business intelligence, and data visualization Top Three Strategic Product Initiatives in the Next 12 to 18 Months Standardize API development across the entire banking and ERP community Further introduction of AI and machine learning throughout the platform Working capital management and analysis Client Feedback Interviewed clients appreciate Kyriba's commitment to security and risk prevention. By improving efficiency and automation with the TMS, clients recognize they have made substantial time and resource savings. TMS-enabled cash pools and in-house banks have enabled corporate treasury departments to reduce bank charges, lower borrowing costs, and achieve tax efficiencies. Clients like Kyriba’s SaaS architecture, as it gives them access to a mission-critical platform from any location, without any hardware investment and without the headache of upgrades. Alongside the cloud-based structure, corporate users enjoy more basic, yet important for the daily routine, gained efficiencies of their cash operations. The TMS provides the tools to forecast cash more accurately and effectively, especially when accompanied by efficient implementation and support teams. Totally cloud-based software may be seen by customers in different ways. Large multinational treasury departments prefer a standardized set of modules that do not require (nor are designed for) customization. Smaller firm clients may expect the possibility to change the software features to adapt to their preferences. Over time, though, these users appreciate the opportunity to use software modules continuously adapted and upgraded based on the input of thousands of users that run the same software. The requests to change and adapt the software to every specific requirement significantly diminish, although some form of parametrization (i.e., configuration) is expected for functionalities that have natively high levels of personalization, such as FX exposure management, business intelligence, data visualization, and connectivity APIs. Table C displays the vendor’s strengths and challenges. Conclusion Buyers: Evaluate the overall competitive position of each TMS vendor by focusing on multiple selection criteria: vendor stability, client strength, product features, and client services. Don’t ask for continual customizations; rather, rely on the vendor’s acquired experience of working with numerous corporate clients and leverage the offered solutions that bear the fruits of industry best practices and techniques. Look for TMS vendors that don’t require a total transformation of your treasury operations but that allow for a smooth transition that blends your current information systems with the newly introduced treasury software. About the Aite Group Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn. AUTHOR INFORMATION Enrico Camerinelli +39.039.21.00.137 [email protected] CONTACT For more information on research and consulting services, please contact: Aite Group Sales +1.617.338.6050 [email protected] For all press and conference inquiries, please contact: Aite Group PR +1.617.398.5048 [email protected] For all other inquiries, please contact: [email protected] 1. “Kyriba Unveils API Integration With Citi,” Finextra, February 26, 2019, accessed July 18, 2019, https://www.finextra.com/pressarticle/77412/kyriba-unveils-api-integration-with-citi. 2. David Heun, “JPMorgan, Kyriba Turn to Open Development for Real-Time Corporate Payments,” Kyriba, May 23, 2019, accessed July 24, 2019, https://www.kyriba.com/company/media-coverage/jpmorgan-kyriba-turn-open-development-real-time-corporate-payments.

Activating your organization’s liquidity can optimize cash, payments and risk to generate increased business value. But what does it mean to activate liquidity and how can you do it?

Activating your organization’s liquidity can optimize cash, payments and risk to generate increased business value. But what does it mean to activate liquidity and how can you do it?

Receive an overview of the Kyriba solution from our treasury experts and be guided through a range of topics, including what to look for in a treasury management platform, key benefits and differences of...

Receive an overview of the Kyriba solution from our treasury experts and be guided through a range of topics, including what to look for in a treasury management platform, key benefits and differences of installed/SaaS solutions, and how over 1,800 organizations globally leverage Kyriba to manage their most critical asset.

Uncovering the Source of Unexpected FX Results FX gain/loss analysis can be time-consuming and difficult to perform during month-end and quarter-end reporting periods. Invariably, treasury and accounting teams are left scrambling to isolate and...

Uncovering the Source of Unexpected FX Results FX gain/loss analysis can be time-consuming and difficult to perform during month-end and quarter-end reporting periods. Invariably, treasury and accounting teams are left scrambling to isolate and analyze the source of unexpected FX results. To combat this difficult task, Kyriba delivers two levels of analytics for companies working in a daily or single rate environment: FX Gain/Loss Analytics Kyriba’s FX Gain/Loss Analytics are designed to radically simplify the process that treasury and accounting teams undertake to provide a quick assessment and explanation of unexpected FX impacts. By sourcing exposure snapshots, hedge positions and rates, FX Gain/Loss Analytics empower treasury and accounting with a quick and intuitive way to identify unexpected impacts from individual entities and currency pairs. Premium FX Gain/Loss Analytics Premium FX Gain/Loss Analytics are designed to meet the needs of treasury and accounting teams that require a deeper understanding of the specific transactions that are the source of unexpected impacts, as well as impacts that surpass materiality thresholds. Additional benefits of the Premium FX Gain/Loss Analytics include the ability to monitor FX movements throughout the accounting period, enabling proactive analysis and issue resolution throughout the month versus at month- or quarter-end. Armed with this proactive and in-depth analytical capability, treasury and accounting teams can provide more consultative support to local business unit finance and accounting teams to apply corrective actions and additional training to reduce the likelihood erroneous transaction postings will reoccur. Kyriba FX Gain/Loss Analytics Empower Treasury and Accounting To: Calculate impacts of rate changes in exposures Quickly identify impacts that surpass materiality thresholds Pinpoint accounting or posting issues that were the source of FX impacts Swiftly and effectively respond to FP&A and CFO questions Minimize future FX impacts to financial statements

Das Cash- und Liquiditätsmanagement umfasst eine Vielzahl von Aufgaben, wie z. B. die Positionierung der Barmittel, deren Forecasting und Reconciliation, unternehmensinterne Bankgeschäfte, die Erstellung von Journalbuchungen für Banktransaktionen, die Buchung von Transaktionen im Hauptbuch und...

Das Cash- und Liquiditätsmanagement umfasst eine Vielzahl von Aufgaben, wie z. B. die Positionierung der Barmittel, deren Forecasting und Reconciliation, unternehmensinterne Bankgeschäfte, die Erstellung von Journalbuchungen für Banktransaktionen, die Buchung von Transaktionen im Hauptbuch und die Abstimmung von Banktransaktionen mit Buchungsposten. Ziel all dieser Aufgaben ist es, einen klaren Überblick über die liquiden Mittel eines Unternehmens zu erhalten, was als Grundlage für wichtige finanzielle Entscheidungen und strategische Geschäftsziele erforderlich ist. Mehr erfahren Cash-Optimierung Der Überblick über die Cash-Situation eines Unternehmens, einschließlich Standort, Währung und Liquidität, ist von entscheidender Bedeutung. Mit einem zeitnahen und genauen Bild der globalen Barmittel über alle Banken in unterschiedlichen Regionen hinweg kann die Finanzabteilung genauere Prognosen erstellen und für Vertrauen sorgen. Dies kann durch den Einsatz marktführender Technologie erreicht werden. Zur richtigen Cash- und Liquiditätsverwaltung müssen Unternehmen eine Technologie nutzen, die Folgendes ermöglicht: •  Cash-Positionierung •  Cash-Forecasting und -Reconciliation •  Inhouse Banking •  Erstellung von Journalbuchungen für Banktransaktionen •  Buchung von Transaktionen im Hauptbuch •  Abstimmung von Banktransaktionen mit Buchungsposten Cash-Management und -Prognosen Die technologisch automatisierte Vorbereitung und Abstimmung der täglichen Cash-Situation eines Unternehmens ermöglicht es der Treasury-Abteilung, jeden Tag mit einem Arbeitsblatt für die Cash-Situation zu starten, indem sie diese durch die Verbindung von Banksalden und Transaktionen mit den erwarteten Arbeitsabläufen visualisiert. Der frühzeitige Zugriff auf diese Informationen hat zur Folge, dass das Treasury mehr Zeit hat, um globale Cash-Prognosen zu erstellen und zu analysieren. Außerdem ermöglicht der durchgehende Einsatz von Technologie, Prognosen mit den tatsächlichen Werten für jeden Horizont zu vergleichen, um die Prognosegenauigkeit zu verbessern.

Das Foreign Exchange-Risiko (Wechselkursrisiko, Forex-Risiko) ist das Risiko, das besteht, wenn Transaktionen in unterschiedlichen Währungen außerhalb der funktionalen Währung eines Unternehmens durchgeführt werden. Dieses Risiko tritt auf, wenn ein Unternehmen seinen Einsatz in die...

Das Foreign Exchange-Risiko (Wechselkursrisiko, Forex-Risiko) ist das Risiko, das besteht, wenn Transaktionen in unterschiedlichen Währungen außerhalb der funktionalen Währung eines Unternehmens durchgeführt werden. Dieses Risiko tritt auf, wenn ein Unternehmen seinen Einsatz in die Währungen, in denen es Geschäfte tätigt, nicht richtig verwaltet. Sobald eine volatile Bewegung in einer der Transaktionswährungen auftritt und das Unternehmen das Risiko für diese Währung nicht berücksichtigt hat (entweder durch eine organische Begrenzung des Risikos oder durch Hedging), ist es anfällig für negative Auswirkungen auf den Gewinn je Aktie (EPS) und den Gewinn vor Zinsen, Steuern und Abschreibungen (EBITDA). Mehr erfahren Begrenzung von Forex-Risiken Um Auswirkungen auf die Erträge zu vermeiden, bemühen sich die Unternehmen um ein Management ihres Fremdwährungseinsatzes und dessen Risiken. Das kann entweder durch die interne Beseitigung oder die Absicherung gegenüber Risiken geschehen. Management von Bilanzrisiken Das Management von Bilanzrisiken beinhaltet die Messung, Überwachung und Steuerung des Währungsrisikos und des damit verbundenen Risikos in der Bilanz durch Treasury-Experten. Zu den Vorteilen des Bilanzrisikomanagements gehören: •  die Fähigkeit, das EPS @-Risiko gegenüber dem MBO der Branche von weniger als 0,01 Dollar zu managen •  bessere Risikoerkennung •  bessere Sichtbarkeit von Risiken •  niedrigere Programmkosten •  geringeres Forex-Risiko •  besseres Hedge-Programm Vorhersage von Cashflow-Risiken Die Vorhersage von Cashflow-Risiken umfasst die Erstellung, Analyse und Verwaltung von Währungsrisiken aus prognostizierten Transaktionen und Cashflows. Zu den Vorteilen der Cashflow-Risikoprognose gehören: •  bessere Vorhersagbarkeit des EBITDA •  höhere Prognosegenauigkeit •  bessere Beteiligung am Cashflow-Prozess •  niedrigere Hedging-Kosten

Ein Zahlungshub konsolidiert Zahlungsströme aus ERP-Systemen, dem Finanzwesen, der Finanzabteilung, der Rechtsabteilung, den Kapitalmärkten und dezentralen Teams. Der konsolidierte Strom wird in eine einzige Berichtsquelle für alle ausgehenden Zahlungen umgewandelt. Ein Zahlungshub konvertiert außerdem...

Ein Zahlungshub konsolidiert Zahlungsströme aus ERP-Systemen, dem Finanzwesen, der Finanzabteilung, der Rechtsabteilung, den Kapitalmärkten und dezentralen Teams. Der konsolidierte Strom wird in eine einzige Berichtsquelle für alle ausgehenden Zahlungen umgewandelt. Ein Zahlungshub konvertiert außerdem Zahlungsdaten in bankspezifische Dateiformate und stellt direkte Verbindungen zu globalen Banken her. Durch die Zentralisierung und Standardisierung des Zahlungsverkehrs in Unternehmen verbessern Zahlungshubs die Effizienz und begrenzen Betrugsmöglichkeiten.   Mehr erfahren Hauptmerkmale von Zahlungshubs Der Zahlungsverkehr rückt immer mehr in den Fokus von CFOs, CIOs, Controllern, Einkaufsleitern und Treasurern, da ineffiziente Zahlungsprozesse die Lieferketten, den Cashflow und die Rentabilität beeinträchtigen können. Zur Beseitigung solcher Probleme gewährleisten Zahlungshubs das im Folgenden Aufgeführte: Standardisierte Abläufe und Kontrollen Die Zahlungsabläufe und -kontrollen sorgen dafür, dass die manuellen Zahlungsaktivitäten den Zahlungsrichtlinien und standardisierten Zahlungskontrollen des Unternehmens entsprechen. Zahlungsscreening und Schutz vor Betrug Die Echtzeitüberprüfung von Zahlungen und die Betrugserkennung dienen als Schutz vor nicht autorisierten Zahlungen. Globale Bankenkonnektivität Durch die Integration mit Banken auf der ganzen Welt ermöglichen Zahlungshubs sofort einsatzbereite Bankschnittstellen sowohl von Host zu Host als auch über regionale Netzwerke. Vorinstallierte Formatbibliotheken Zahlungshubs können die Anforderungen unterschiedlicher globaler Banken erfüllen und Tausende von Formatvarianten übernehmen. Zweiwegekommunikation Der Eingang von Zahlungsbestätigungen, die Verfolgung von Zahlungen und die Berichterstattung über den Bankstatus werden allen Beteiligten zwecks Statusberichterstattung und -transparenz mitgeteilt. Datenvisualisierung und Business Intelligence (BI) Mit BI-fähigen Datenvisualisierungen können Finanz- und Treasury-Abteilungen einen detaillierten Einblick in den globalen Zahlungsverkehr gewinnen und haben Zugriff auf ausführliche Analysen. Die Vorteile eines Zahlungshubs Zahlungshubs bieten Treasury- und Finanzleitern zahlreiche Vorteile, darunter: Kosteneinsparungen Ein Zahlungshub verringert die Anzahl der Systeme, die mit einer Bank verbunden werden müssen, und senkt so die Kosten für Bankdienstleistungen und Software. Zentrale Verantwortlichkeit Durch den Einsatz eines einzigen Systems zur Beantragung, Veranlassung, Genehmigung und Übermittlung von Zahlungen ist ein einziges Team für alle Zahlungen zuständig und das Risiko von Fehlern und nicht genehmigten Zahlungen ist geringer. Betrugserkennung Alle ausgehenden Zahlungen werden in Echtzeit anhand externer Sanktionslisten und einer digitalisierten Zahlungsrichtlinie überprüft, um sicherzustellen, dass nur autorisierte Zahlungen vorgenommen werden. Globale Transparenz Durch die Zentralisierung des Zahlungsverkehrs über einen Zahlungshub hat die Finanzabteilung einen vollständigen Überblick über alle ausgehenden Zahlungsströme an einem Ort, was eine Optimierung der Bargeldbestände und effektivere Entscheidungen über den Einsatz von Cash und Liquidität ermöglicht. Geringere Abhängigkeit von der IT-Abteilung Da Zahlungshubs in der Cloud gehostet werden und die Generierung von Bankformaten sowie integrierte Bankverbindungen ermöglichen, muss die IT-Abteilung keine Bankverbindungen mehr aufbauen und pflegen.

Finanzierungslösungen für Verbindlichkeiten (Payables Finance) helfen CFOs und strategischen Führungskräften dabei, den freien Cashflow zu steigern und das EBITDA zu verbessern, indem sie die Zahlungsfristen verlängern. Es gibt in der Regel zwei Arten von...

Finanzierungslösungen für Verbindlichkeiten (Payables Finance) helfen CFOs und strategischen Führungskräften dabei, den freien Cashflow zu steigern und das EBITDA zu verbessern, indem sie die Zahlungsfristen verlängern. Es gibt in der Regel zwei Arten von Programmen zur Finanzierung von Verbindlichkeiten: Lieferkettenfinanzierung und dynamische Rabattgewährung. Beide Programme sorgen für Win-Win-Szenarien für Einkäufer und Lieferanten und ermöglichen gleichzeitig ein besseres Management des Betriebskapitals, um den Zustand der Lieferketten von Unternehmen zu verbessern. Mehr erfahren Lieferkettenfinanzierung Bei der Lieferkettenfinanzierung handelt es sich um eine Working Capital-Kreditmöglichkeit, die den Lieferanten die Flexibilität gibt, genehmigte Rechnungen gegen einen vom Kreditrisiko des Käufers abhängigen Rabatt an Finanzinstitute zu „verkaufen“. Dies ermöglicht den Lieferanten einen frühzeitigen Erhalt der geschuldeten Forderungen und den Käufern eine Optimierung ihrer Zahlungsbedingungen, während sie gleichzeitig ihre Lieferkette stärken. Diese Art von Programmen wird von einem Geldgeber finanziert und ist ideal für Unternehmen, die eine Verlängerung ihrer Zahlungsfristen wünschen, um ihren Cashflow zu verbessern. Dynamische Rabattgewährung Bei der dynamischen Rabattgewährung handelt es sich um ein Frühzahlungssystem, das es Käufern ermöglicht, Lieferanten die Möglichkeit zu bieten, eine Frühzahlung gegen einen Rabatt oder eine Finanzierungsgebühr zu niedrigeren Finanzierungskosten zu erhalten, als sie selbst erzielen könnten. Das ermöglicht es Käufern, hohe Renditen auf die freie Liquidität zu erwirtschaften, die Kosten der verkauften Waren (COGS) zu senken und die Gewinn- und EBITDA-Margen zu steigern. Dynamische Rabattgewährungsprogramme eignen sich am besten für Unternehmen, die über überschüssige Barmittel und Liquidität verfügen und eine Alternative zu renditeschwachen, kurzfristigen Anlagen suchen, um risikofreie Renditen auf Barmittel zu erzielen. Durch den Einsatz einer dynamischen Rabattlösung können Lieferanten ihr eigenes Working Capital verbessern, um die Produktionseffizienz zu steigern und das Wachstum zu fördern. Eine nachhaltige Lieferkette Die Forderung nach einem Ethikkodex und einer verantwortungsvollen Beschaffung steigt mit der Ausweitung der globalen Lieferkette. Als Reaktion auf diese Ausweitung sowie auf die Nachfrage der Verbraucher und die Präferenzen der Anleger, mit nachhaltigen Unternehmen Geschäfte zu machen, richten immer mehr Unternehmen Ausschüsse für Umwelt- und Sozialmanagement (ESG) oder soziale Verantwortung ein. Während viele Verbraucher und Investoren nachhaltige Unternehmen als weniger riskant ansehen, kann es dennoch schwierig sein, diese Standards umzusetzen und aufrechtzuerhalten. Außerdem fehlt es an materiellen und finanziellen Anreizen für die Lieferanten, was dazu führen kann, dass sie die Vorgaben nicht einhalten. Wenn die Zulieferer, die die Ressourcen für die Einhaltung der Standards bereitstellen, diese nicht einhalten, verstoßen sie gegen die vom Unternehmen festgelegten Standards. Um hier Abhilfe zu schaffen, können Unternehmen die Lieferkettenfinanzierung als umweltfreundliche Finanzierung nutzen, indem sie die Finanzierungsrate mit den ESG-Vorgaben verknüpfen. Die Vorteile einer Payables Finance-Lösung Für Käufer bietet die Nutzung einer Finanzierungslösung für Verbindlichkeiten Folgendes: bessere Liquiditätstransparenz und -vorhersagbarkeit weniger Rückfragen zu Verbindlichkeiten bessere Beziehungen zu wichtigen Lieferanten finanzielle Anreize für Nachhaltigkeit und verantwortungsvolle Beschaffung Für Lieferanten bietet eine Finanzierungslösung für Verbindlichkeiten Folgendes: kostenfreie Überweisungsinformationen mit weniger Rückfragen zu den Außenständen finanzielle Anreize für eine nachhaltige und verantwortungsvolle Beschaffung Wenn Sie mehr darüber erfahren möchten, wie Ihr Unternehmen von einer Finanzierungslösung für Verbindlichkeiten profitieren kann, besuchen Sie diese Seite.

Working Capital-Programme verringern das Lieferkettenrisiko und optimieren den Cashflow, um den Liquiditätsbedarf des Unternehmens durch Finanzierungslösungen für Verbindlichkeiten und Forderungen zu decken. Diese Programme ermöglichen es Unternehmen, ihre Lieferkette umfassend zu nutzen und die...

Working Capital-Programme verringern das Lieferkettenrisiko und optimieren den Cashflow, um den Liquiditätsbedarf des Unternehmens durch Finanzierungslösungen für Verbindlichkeiten und Forderungen zu decken. Diese Programme ermöglichen es Unternehmen, ihre Lieferkette umfassend zu nutzen und die Zahlungsbedingungen zu optimieren, während sie gleichzeitig die Beziehung zwischen Käufer und Lieferant verbessern. Die Möglichkeit für Lieferanten, Rechnungen auf Abruf vorzeitig zu bezahlen, unterstützt und schützt Lieferanten, beschützt Unternehmen vor Erschütterungen und gibt Lieferanten die Möglichkeit, mehr Geschäfte abzuwickeln. Mit einem Working Capital-Programm können Unternehmen auf einfache Weise Nachhaltigkeitsziele mit finanziellen Anreizen verknüpfen, um bessere Verhaltensweisen zu fördern, anstatt Lieferanten für negative Verhaltensweisen zu bestrafen. Mehr erfahren   Payables Finance-Lösungen Mit Lösungen für die Finanzierung von Verbindlichkeiten (Payable Finance) können Treasury- und Finanzverantwortliche den freien Cashflow und das Nettoergebnis verbessern, indem sie Lösungen zur Zahlungsoptimierung einsetzen, um die Laufzeitverlängerung von Verbindlichkeiten zu unterstützen oder den Cashflow zu steigern. Die unterschiedlichen Programme zur Finanzierung von Verbindlichkeiten umfassen die folgenden drei Lösungen: Lieferkettenfinanzierung: Verbesserung von Cashflows durch Optimierung der Zahlungsbedingungen für Lieferanten dynamische Rabattgewährung: Optimierung überschüssiger Barmittel durch vorzeitige Bezahlung von Lieferanten gegen einen Rabatt hybride dynamische Rabattgewährung: Wechsel zwischen Dritt- und Eigenfinanzierung, je nach Liquiditätslage zu einem bestimmten Zeitpunkt Mehr erfahren   Receivables Finance-Lösungen Lösungen für die Finanzierung von Forderungen (Receivables Finance) ermöglichen es Verkäufern, ausstehende Forderungen vorzeitig zu begleichen und gleichzeitig die Kontrolle über die effizientesten Finanzierungsquellen für ihre Forderungen zu behalten. Solche Programme bieten den Anbietern folgende Vorteile: Steigerung der Verkäufe geringeres Kreditrisiko bessere Liquiditätslage des Unternehmens Working Capital für Finanzinstitute Insbesondere Finanzinstitute können davon profitieren, wenn sie ihren Firmenkunden Working Capital-Programme anbieten. Ein solches Programm kann ein Finanzinstitut von der Konkurrenz abheben und für bessere Beziehungen zu seinen Firmenkunden sorgen. Banken arbeiten häufig mit Technologieanbietern zusammen, um White-Label-Programme für die Supply Chain Finance zu entwickeln. Einige der Gründe, warum sich Banken für eine Partnerschaft mit Anbietern entscheiden, liegen darin, dass die SaaS-Umgebung den Bedarf an technischer Hardware und Support verringert, dass sie in hohem Maße konfigurierbar ist und leicht an Programme angepasst werden kann (je nach Käufer, Geldgeber und juristischen Anforderungen) und dass sie automatisierte Prozesse für das Laden von Dateien, elektronische Benachrichtigungen, Verkaufsangebote, Käufe, vorzeitige Zahlungen und die Endabrechnung ermöglicht. Entscheiden Sie sich für die richtige Lösung Die richtige Lösung ist entscheidend für den Erfolg des Working Capital-Managements, unabhängig davon, ob ein Unternehmen ein Payables Finance- oder ein Receivable Finance-Programm einsetzt. Bei der Evaluierung von Software und Anbietern für diese Programme sollten Unternehmen unbedingt nach einer Lösung mit Expertenteams, einer Plattform für mehrere Geldgeber, Programmflexibilität, Lieferanteneinbindung und einem vollständigen Arbeitsablauf suchen, einschließlich Cash-Transparenz, Prognosen, Zahlungen und vorinstallierter ERP-Integration.

Kyriba empowers forward-thinking teams to optimize capabilities for treasury, payments, risk management and working capital. This functionality is integrated with a highly connected network of banks, platforms and information sources to help clients enhance...

Kyriba empowers forward-thinking teams to optimize capabilities for treasury, payments, risk management and working capital. This functionality is integrated with a highly connected network of banks, platforms and information sources to help clients enhance growth and value creation while protecting against additional risk.

Ein Treasury-Managementsystem (TMS) ist eine Unternehmenssoftware, die dabei hilft, sich häufig wiederholende manuelle Treasury-Prozesse zu automatisieren. Durch die Automatisierung dieser Schritte erhalten CFOs und Treasurer einen besseren Überblick über Cash und Liquidität, während sie...

Ein Treasury-Managementsystem (TMS) ist eine Unternehmenssoftware, die dabei hilft, sich häufig wiederholende manuelle Treasury-Prozesse zu automatisieren. Durch die Automatisierung dieser Schritte erhalten CFOs und Treasurer einen besseren Überblick über Cash und Liquidität, während sie gleichzeitig die Kontrolle über Bankkonten, die Einhaltung von Vorschriften und die Verwaltung interner Bank- und Finanztransaktionen erhalten. Mehr erfahren Cash-Optimierung mit einem Treasury-Managementsystem Es kann schwierig sein, die Cash-Situation Ihres Unternehmens einschließlich Standort, Währung und Liquidität zu kennen. Der Einsatz eines Treasury-Managementsystems macht die Beantwortung dieser Fragen jedoch einfacher. Anstatt dass mehrere Mitarbeiter stundenlang mit unterschiedlichen Tools und Datenquellen arbeiten müssen, um sich einen Überblick über die Liquiditätslage des Unternehmens zu verschaffen, sorgt ein Treasury-Management-System für die Klarheit und Transparenz, die zur Unterstützung wichtiger finanzieller Entscheidungen und strategischer Geschäftsziele erforderlich ist. Cash-Management und -Vorhersage mit einem Treasury-Managementsystem Ein Treasury-Managementsystem kann die Vorbereitung und den Abgleich der täglichen Liquiditätslage eines Unternehmens automatisieren, noch bevor der Geschäftstag beginnt. Die Visualisierung der Liquiditätslage durch die Kombination von Banksalden und -transaktionen mit erwarteten Zahlungsströmen stellt sicher, dass die Nutzer stets aktuelle Echtzeiteinblicke in Positionen über Banken, Konten, Unternehmen und Regionen hinweg erhalten. Mit einer genauen Liquiditätslage als Ausgangspunkt ist es einfacher, globale Cash-Prognosen für einen Tag, eine Woche, einen Monat oder ein Jahr zu erstellen und zu analysieren, indem mehrere Datenquellen genutzt werden, darunter wiederkehrende Posten, ERP-Daten und historische Daten. Cash-Buchhaltung Ein Treasury-Managementsystem kann dazu beitragen, den zeitaufwendigen und fehleranfälligen Prozess der Buchung im Hauptbuch (GL) zu eliminieren, indem es den GL-Buchungsprozess automatisiert und doppelseitige Buchungen aus Bank- und internen Cash-Transaktionen für die Kassenbuchhaltung erzeugt. Weitere Treasury-Management-Funktionen Das Treasury-Management umfasst im Wesentlichen das Cash-Management, die Verwaltung von Bankkonten und Finanztransaktionen. Treasury-Managementsysteme bieten CFOs und Treasurern die nötige Transparenz und Berichterstattung, um Cashflows zu optimieren, Bankkonten zu kontrollieren, Liquidität zu verwalten, die Einhaltung von Vorschriften zu gewährleisten und Investitionen, Schulden und konzerninterne Darlehen zu überwachen. Cash Pooling und unternehmensinterne Bankgeschäfte Unternehmen können auf einfache Weise fiktive und physische Cash-Pools verwalten, um konzerninterne Positionen, Zinsberechnungen und Berichte in Echtzeit anzubieten. Multilaterales Netting Treasury-Managementsysteme helfen bei der Berechnung der Nettoverbindlichkeiten und -forderungen nach Teilnehmern und ermöglichen ein optimiertes Risikomanagement und die Integration mit internen Banken. Management von Bankbeziehungen Die Verwaltung von Bankkonten, die Verfolgung von Unterzeichnern, die FBAR-Berichterstattung und die Analyse von Bankgebühren ermöglichen eine genauere Kontrolle der Bankkonten sowie eine bessere Transparenz der Bankgebühren. Finanztransaktionen Die branchenweit besten Treasury-Managementsysteme ermöglichen die vollständige Verfolgung von Finanztransaktionen mit vollständiger Modulintegration für Zahlungen, Bilanzierung und Cash-Prognosen. Bilanzierung und Compliance Die automatische Erstellung von Journalbuchungen, die Unterstützung aller ERP-Lösungen für die automatische Integration mit dem Hauptbuch (GL) und die GL-Reconciliation machen es einfach, die branchenüblichen und internen Vorschriften einzuhalten.

Optimize Your Cash Answering fundamental questions about the organization’s cash position, such as location, currency and liquidity position, can be a seemingly monumental task. It can require multiple employees spending many hours using disparate...

Optimize Your Cash Answering fundamental questions about the organization’s cash position, such as location, currency and liquidity position, can be a seemingly monumental task. It can require multiple employees spending many hours using disparate tools and data sources. Having clarity and visibility into the organization’s cash is a fundamental and vital requirement for any treasury department to support critical financial decisions and strategic business objectives. Kyriba’s Cash and Liquidity Management benefits organizations by allowing treasury departments to spend more time on higher value tasks, and supporting stretegic decision making, rather than spending countless hours on less valuable activities. Kyriba Cash and Liquidity Management module provides that visibility. Kyriba is recognized as the market-leading global cash management solution, providing comprehensive capabilities in an intuitive and easy-to-use solution. Kyriba delivers timely and accurate global cash visibility, across all banks, in all regions, and enables treasury teams to create accurate forecasts that deliver confidence throughout the organization. Kyriba’s solution benefits organizations by allowing treasury departments to spend more time on higher value tasks, and supporting decision-making activities, rather than spending countless hours on less valuable activities. Cash Managment and Forecasting Kyriba’s Cash Management and Forecasting capabilities automates the preparation and reconciliation of the organization’s daily cash position, before the business day begins. Starting with the cash position worksheet, Kyriba’s clients have a powerful and intuitive way to visualize cash positions through the combination of bank balances and transactions with expected cash flows. This ensures that clients always have up-to-date and realtime insights into positions across banks, accounts, entities, and regions. With an accurate and up-to-date cash position as the starting point, clients can use Kyriba’s cash forecasting capabilities to build and analyze global cash forecasts by day, week, month or year by leveraging multiple sources of data, including repetitive items, import of ERP data, integration with other Kyriba modules, and extrapolation of historical data. The use of powerful cash forecasting analytics allows organizations to compare forecasts to actuals for any horizon to help improve forecast accuracy.

FX Cash Flow enables finance and treasury professionals to create, analyze and manage accurate cash flow exposure forecasts. A Collaborative Workflow Solution Kyriba offers distributed access for upload, entry and verification of cash flow...

FX Cash Flow enables finance and treasury professionals to create, analyze and manage accurate cash flow exposure forecasts. A Collaborative Workflow Solution Kyriba offers distributed access for upload, entry and verification of cash flow exposure forecast data. All forecasts from the field are collected and rolled up into a consolidated master forecast where cell-level annotations can be created for communication and collaboration with audibility. Drill-down capabilities give access to source data and help facilitate top-level reporting. Additionally, cell-level variance metrics allow teams to prevent errors at the time of entry, instead of catching them after decisions have been made based on incorrect data. An End-to-End Platform The cloud-based workflow solution provides a single platform where all teams can log in and upload or directly enter their forecasted metrics. Additionally, forecasters start with a baseline forecast to ensure everyone is working from the same, single version of the truth. Eliminate Process, Timing and Error Risk By eliminating process, timing and error risk, Kyriba helps organizations develop more efficient and accurate cash flow exposure forecasts. All historical and current data is stored and available to the company with proper version control, ensuring everyone is looking at the latest, approved data. Additionally, each forecaster can receive real-time feedback, increasing collaboration and transparency between the field and central teams. For the process owner, reporting metrics are available to show the progress and completeness of the overall process with granular detail into where a submission has yet to happen and what percentage of the total value of the forecast those gaps present. If errors are not caught until post analysis, they can be traced down to the cell level, and acute training and feedback can be provided to remedy/prevent future mistakes. Forecast Analytics FX Cash Flow gives users the ability to perform exposure analysis at every level of the organizational hierarchy with real-time grouping and summing. Forecast-to-forecast variance analysis compares the current forecast to the previous forecast to clearly identify percentage and absolute changes. With this, users can quickly and efficiently identify errors and/ or significant changes from one period to the next. Forecast trend analysis depicts how single-period forecasts change over time, providing opportunities for education and forecast process improvement. Hedging and Trade Preparation Corporate hedge decision strategy (e.g., target ratios, materiality, rounding, etc.) is consistently applied to automate the calculation of hedges based on the approved cash flow forecast. Following hedge approval, trades are automatically prepared for onward submission to a liquidity provider or trading platform. Control and governance within the application can further enhance the cash flow hedge accounting process. Kyriba Analytics for Cash Flow Exposure Forecasting Business intelligence brings innovative graphical forecast analytics to FX Cash Flow, including comprehensive currency exposure and forecast comparison visualization, bringing people closer to the data they are working with and empowering them to make better decisions. Kyriba Analytics takes raw data and transforms it into useful business information. By having detailed, timely, easy-to-interpret information, organizations can make better, faster decisions. The customizable dashboards, reporting and data visualization available allow treasury organizations to understand and manage currency risk in real time. Additionally, these functionalities can be used to help recognize problems before they occur, avoid losses and track currency trends for the future. Kyriba Analytics combines strategies, processes and technology to support informed business decisions. By transforming static data from spreadsheets into charts, graphs, pivot tables and dashboards, treasury can make faster, more informed decisions with visual and dynamic reporting. Grasp the Complete Picture Evaluate the accuracy and consistency of forecasts provided by the field Assess forecast evolution to see how forecast and hedge ratios have changed over time Gain Control of Your Business Gain confidence in data quality at a glance by connecting and transforming data Detect and understand underlying details not easily uncovered in spreadsheets or other forecast tools Make Informed Business Decisions Incorporate business cycles and seasonality to make better hedging decisions Leverage business insights gained from detailed data to drive better program results

FX Balance Sheet enables treasury professionals to measure, monitor and manage currency exposure and the associated risk from their balance sheet. Accurate, Complete and Timely Data For treasury teams to effectively understand and manage...

FX Balance Sheet enables treasury professionals to measure, monitor and manage currency exposure and the associated risk from their balance sheet. Accurate, Complete and Timely Data For treasury teams to effectively understand and manage corporate risk, they must have access to accurate, complete and timely data. Kyriba provides tools to facilitate quick data mining from major ERP systems, ensure data accuracy and automate data collection. This gives treasury complete visibility into transaction currency balances, enables them to make better decisions based on the most accurate information and gives them more time to strategically analyze exposures and make risk-mitigating decisions. A Streamlined Process Kyriba facilitates transparency into organizational processes, helping clients understand how separate corporate levels (divisions, countries, entities) conduct day-to-day business. Kyriba highlights how local controllers are posting and clearing transactions and forecasting future business. The enrollment process facilitates an end-to-end review of internal processes — from data collection to exposure reporting — allowing for flexibility based on local requirements. Finance Team Collaboration Kyriba facilitates cross-functional and interdepartmental collaboration, working as a catalyst to initiate improved internal teamwork and communication. For treasury and local finance teams, segregation of duties and an establishment of responsibilities and timelines help provide a better understanding of individual roles and how their activities contribute to the greater corporate footprint. The application’s role and field-level access controls inform treasury who is doing what and when, which serves as a critical reporting requirement in auditability and compliance. On-demand Data Collection • Eliminate manual time spent collecting exposure data • Automate data aggregation, mapping and derivation Extensive Data and Exposure Analytics • Improve visibility into balances • Increase transparency into internal processes User-defined Risk Reporting • Improve FX exposure and risk reporting • Increase internal collaboration and FX awareness Technology-enabled Risk Reduction • Organically eliminate exposures • Automate hedge recommendations End-to-end Workflow Automation • Eliminate manual processes and human error • Improve efficiency and security Informed Decision-making Whether starting a hedging program from scratch or looking to make improvements to an existing process, Kyriba offers a holistic approach to decision improvement. Automating and streamlining the collection of complete and accurate data gives treasury teams more time to analyze the root cause of exposure and consider all available options to mitigate risk. With the application, treasury can take advantage of complex data aggregation and display exposures at the corporate or individual entity level. Analytical tools streamline decision making and hedging processes to ensure optimal netting and hedge allocation. The application enables optimized organic exposure elimination and simplifies the hedging process, applying preset parameters to hedge recommendations with review and approvals before secure exposure or trade files are automatically sent to trading platforms or treasury workstations. KYRIBA BUSINESS INTELLIGENCE FOR BALANCE SHEET Business intelligence brings innovative, graphical analytics to FX Balances Sheet with robust currency exposure and risk visualization. Kyriba’s business intelligence takes raw data and transforms it into useful business information. By having detailed, timely, easy-to-interpret information, organizations can make better, faster decisions. The customizable dashboards, reporting and data visualization available allow treasury organizations to understand and manage currency risk in real time. Additionally, these functionalities can be used to help recognize problems before they occur, avoid losses and track currency trends for the future. Kyriba’s business intelligence combines strategies, processes and technology to support informed business decisions. By transforming static data from spreadsheets into charts, graphs, pivot tables and dashboards, treasury can make faster, more informed decisions with visual and dynamic reporting.

The ever-shifting regulatory landscape and growing geopolitical uncertainty have forced companies to look inward more than ever to fund business growth. The treasurer must take the lead in finding and mobilizing internal sources of...

The ever-shifting regulatory landscape and growing geopolitical uncertainty have forced companies to look inward more than ever to fund business growth. The treasurer must take the lead in finding and mobilizing internal sources of funding. However, treasurers, especially those in multinational companies, often run into the problem of “trapped” liquidity.

This new e-book is designed to provide a quick, graphical overview into how payment hubs can help increase efficiency, reduce costs and enhance fraud prevention.

This new e-book is designed to provide a quick, graphical overview into how payment hubs can help increase efficiency, reduce costs and enhance fraud prevention.

Working Capital optimization is a strategic objective for CFOs as they fight to generate bottom line value and generate free cash flow. Kyriba offers CFOs two compelling benefits: the ability to improve working capital,...

Working Capital optimization is a strategic objective for CFOs as they fight to generate bottom line value and generate free cash flow. Kyriba offers CFOs two compelling benefits: the ability to improve working capital, as well as the opportunity to increase net income.

Why are 10 CFOs ‘sounding off’ about treasury? Because they feel passionate about the direct and immediate value that that treasury can deliver when properly activated via cloud-based technology.

Why are 10 CFOs ‘sounding off’ about treasury? Because they feel passionate about the direct and immediate value that that treasury can deliver when properly activated via cloud-based technology.

French retail group Auchan uses reverse factoring to pay suppliers sooner without negative impact to working capital. After the global financial crisis, Auchan Group’s suppliers began asking whether their invoices could be paid sooner,...

French retail group Auchan uses reverse factoring to pay suppliers sooner without negative impact to working capital. After the global financial crisis, Auchan Group’s suppliers began asking whether their invoices could be paid sooner, as they were struggling to secure bank financing on acceptable terms. When some of these suppliers began to have difficulty fulfilling orders placed by Auchan, it was clear that action was needed. The group began exploring how reverse factoring programs could be used to pay suppliers faster and at favorable terms, without adversely affecting Auchan’s working capital. These programs would need to be supported by a supplier portal in order to keep suppliers informed about the status of their invoices. Auchan therefore decided to set up ASAP (Auchan Supplier Advanced Platform), a wholly owned subsidiary, which would provide the group’s entities with reverse factoring programs. Another goal of the project was to modernize the group’s payment methods, thereby improving security and reducing costs. "The feedback from suppliers that joined the program has been unanimously positive. We have met their expectations in terms of visibility, simplicity, transparency, independence and attractiveness." François Verrodde, CEO of ASAP, Auchan Group Getting started Once management had given the project the green light, the company rapidly assembled the affected teams: purchasing, IT, legal and the financial department. “This was a company-wide project in response to highly strategic challenges,” said François Verrodde, CEO of ASAP and head of the Group's Reverse Factoring programs. “It was therefore important to have powerful sponsors within the company, and the involvement of all players.” Where technology was concerned, Auchan was looking for a bank-independent solution which could cover multiple laws, languages, banks, IT systems, repositories and currencies. “Only a solution independent from the banks, such as that offered by Kyriba, could natively integrate all of these requirements,” said Verrodde. He notes that the decision to adopt Kyriba’s platform was also driven by the need for a modern, flexible and customizable solution. The implementation began with a pilot phase incorporating four group entities and three banking partners. “We approved some of the decisions made, such as the financing arrangements offered to our suppliers,” said Verrodde. Thereafter, the focus was on onboarding as many suppliers as possible to the platform using a range of communication methods, from an e-mail campaign to in-person discussions at conventions. Quantitative Results 15,500 Suppliers Paticipating 5 Auchan group entities covered 47% Increase in financing requests. Dec. 2016-2017 Surpassing the original goals Three years after the project began, the program has already exceeded the company’s original goals with over 15,500 suppliers on the platform. ASAP currently tracks reverse factoring programs on behalf of five different group entities: Hypermarkets France, Supermarkets France, Auchan Poland, Auchan Romania and Auchan Portugal. Suppliers can use Kyriba’s portal to access information about the status of their invoices and can finance their invoices on attractive terms with a few clicks. “The feedback from suppliers that joined the program has been unanimously positive,” said Verrodde. “We have met their expectations in terms of visibility, simplicity, transparency, independence and attractiveness.” In some countries, the company has also been able to move from paper-based payments to electronic transfers. For other companies looking to adopt a similar program, Verrodde emphasizes the importance of working with multiple banks, adding this was “essential” to the success of Auchan’s project. He also notes the importance of addressing legal considerations thoroughly: “In our multinational environment, with its wide array of legislation, any legal impact must be approved by our internal teams, with the support of an outside firm that specializes in international finance.” Future plans Looking ahead, it is likely that the reverse factoring programs will be expanded into additional countries. “Our primary mission is to support the growth of Auchan Group, so naturally we will respond to requests from other countries that face significant challenges in this area,” said Verrodde. The company also hopes to develop existing tools further in order to provide greater agility and flexibility. Future developments could include the use of techniques such as purchase order-based financing or dynamic discounting. “Of course, we are working on these issues in close cooperation with our partner Kyriba, which has effectively supported us from the start of this project, and continues to provide us with appropriate solutions,” Verrodde concludes.

Graff Diamonds has been expanding its network of overseas stores since the first one opened in Monaco in 2000. It now has 45 of its own stores across Europe, Asia, the United States and...

Graff Diamonds has been expanding its network of overseas stores since the first one opened in Monaco in 2000. It now has 45 of its own stores across Europe, Asia, the United States and South Africa with 6 local finance teams whose core responsibility was originally to validate fund clearance for sales. Monthly accounting was always done on a cash rather than accrual basis with too many banks and multiple currency accounts for every entity across 15 different countries. With a new senior finance team in place in 2013, Graff had treasury-based aspirations to achieve solid monthly accrual accounting, better cash management and stronger controls and visibility with less reliance on spreadsheets. When he first came aboard in 2013, one of CFO Andrew Nicholson's first decisions was to implement Kyriba. The greatest value he now sees is the improved visibility and control. Here he tells us more about the benefits of a TMS from the C-level perspective. Why and how did you select Kyriba over other providers? When I joined Graff I made the decision almost immediately to deploy a TMS. We undertook a rigorous selection process and found that Kyriba best met both our current and expected needs without any unnecessary extra functionality. Of course, integration with our ERP was crucial, as was the centralisation and standardisation of cash and payments and the ability to drawdown and track credit facilities. In the end, the fact that Kyriba is a hosted web-based platform and could provide real-time access to consolidated bank reports was the real determining factor in my decision. The payments and connectivity functionality of Kyriba is particularly important. Can you explain why? It was simply unsustainable to continue logging into each individual e-banking platform in order to approve payments. Having rationalised our bank relationships and selected one leading local commercial bank in each country, it was then key for us that Kyriba could offer a single, consolidated point of access across all our bank accounts. We also needed the ability to set up payments, to define different payment types, to receive notification of pending approvals and we needed a robust security framework with dual-factor authentication and dual authorisation. "From one single, low maintenance and user-friendly platform, we have greater visibility of current and future cash positions, solid controls and less reliance on error prone spreadsheets." — Andrew Nicholson, CFO of Graff How do you measure the success of your Treasury operation? We don’t formally measure the success of our treasury and finance operation in terms of KPIs. What the owners do recognise is that with Kyriba we have shared visibility of accurate data coming from different sources into one format. From one single, low maintenance and user-friendly platform, we have greater visibility of current and future cash positions, solid controls and less reliance on error-prone spreadsheets. This in turn has led to improvements in operational efficiency, the ability to make more informed and strategic decisions and cost savings, which in turn is contributing to overall productivity and growth of the company. Quantitative Results 15 Countries of operation 11 Different currencies 5/1 Reduction in number of finance teams As CFO, what do you get out of a Treasury Management System? The main benefit I personally get from Kyriba is risk mitigation through much greater confidence in my treasury. I receive meaningful data to analyse, including automated standardised reports and accurate cash forecasts. I can also authorise transactions remotely. We can access real-time, centralised bank statements first thing in the morning. Finally, we can source and analyse historical data for bank queries and we have centralised and secure payments control. What is next for Graff Diamonds and Kyriba? Well, we have actually purchased some additional functionality that we have yet to start using for FX exposure management and GL reconciliation. I think the plan for 2018 is to focus on rolling these out and we are also exploring the adoption of Kyriba’s newly released Payments Fraud Detection module, which, considering our business is high value luxury-based retail, is critical in the current climate.

Backed by strong incentives and market-leading technology, Kyriba delivers one of the strongest and most comprehensive partner programs in the industry. Called PartnerSURGE, the program is designed to let Kyriba’s strategic partners share in...

Backed by strong incentives and market-leading technology, Kyriba delivers one of the strongest and most comprehensive partner programs in the industry. Called PartnerSURGE, the program is designed to let Kyriba’s strategic partners share in the rapidly expanding market for world-class treasury and finance technology. The first step in that process is enrolling in Kyriba’s Partner Sales Enablement program, which offers sales certification and in-depth training to help partner teams quickly build pipeline, close their first deals and sustain long-term success. Kyriba’s Partner Sales Enablement program helps sales professionals understand: The unique needs and challenges of liquidity and risk management professionals The business value offered by Kyriba’s market-leading solution How to present Kyriba’s value proposition to separate Kyriba from the competition and win new business Role-Based Sales Certifications Gold Sales For sales and marketing professionals who need to understand a prospect’s core business challenges and Kyriba’s associated value in order to generate leads. Platinum Plus Sales For sales professionals who need to manage the entire sales cycle, including prospecting, maturing deals and winning new business. Gold Pre-Sales For pre-sales professionals who need to demonstrate the value and associated functionality of the core liquidity modules of Kyriba’s solution. Platinum Pre-Sales For pre-sales professionals who need to demonstrate the value and associated functionality of the advanced liquidity modules of Kyriba’s solution. Platinum Plus Pre-Sales For pre-sales professionals who need to demonstrate the value and associated functionality of the capital market modules of Kyriba’s solution.

Kyriba’s Center of Excellence (COE) mission is to train and certify its valued partners. All partners working on an implementation project or post-implementation support must participate in Kyriba’s training program and earn their certification....

Kyriba’s Center of Excellence (COE) mission is to train and certify its valued partners. All partners working on an implementation project or post-implementation support must participate in Kyriba’s training program and earn their certification. This ensures partners are able to execute the latest best practices on a project, including analysis, system configuration, user training and much more. Obtaining certification through Kyriba will demonstrate the partner’s commitment to corporate treasury excellence. The certification courses help partners become specialists both in treasury knowledge and in the Kyriba application, helping maintain and enhance the firm’s strong credibility in this space. Partners will develop the skills to efficiently implement clients using Kyriba’s best practice methodology, ensuring a timely and profitable contract with the client. The Center of Excellence selects the most advanced trainers and subject matter experts for its training certification program. The trainers have an average of seven years working with the Kyriba platform and bring real-world experience and anecdotes from when they were professional service consultants working with clients. Kyriba’s COE Training Certification empowers partners by providing: A deep knowledge of the Kyriba application and its extensive functionality Best practices for implementing Kyriba for clients On-demand ELMS (Electronic Learning Management System), which provides detailed workflows to enhance the learning experience. Certification Program The COE certification program is available both on demand and in person. There are different levels of certification that can be achieved, including Gold, Platinum and Platinum Plus. Each level corresponds to the number of modules (credits) a partner is certified in. In order to become certified, a 75% grade is necessary, where 25% is made up of ELMS review.

Consumer goods company, Newell Brands, has leveraged technology to complete a major treasury modernization project. In 2016, Newell Rubbermaid purchased Jarden Corporation to form a new $16 billion consumer goods company, Newell Brands. While...

Consumer goods company, Newell Brands, has leveraged technology to complete a major treasury modernization project. In 2016, Newell Rubbermaid purchased Jarden Corporation to form a new $16 billion consumer goods company, Newell Brands. While the deal brought considerable business benefits, it also resulted in a number of challenges where treasury was concerned. Need to innovate Before the acquisition, both teams spent a lot of time on manual processes—so opportunities to undertake value adding activities were limited. Newell’s treasury had under-invested in technology, which meant that the combined team had to take on numerous additional tasks without increasing headcount. Spreadsheets were being used for daily cash management, giving the company limited global cash visibility. Daily cash positions were manual and took two employees over 20 hours per week to complete, while global cash reporting was only available once a month. Automation was also needed where hedging was concerned. Despite large FX transaction net losses, process inefficiencies meant the company had not implemented a balance sheet hedging program and was only hedging one-off intercompany loans. A standalone software solution was used to manage cash flow hedges, but this lacked automation. "Gathering and assimilating data was the biggest challenge–and that is where we are seeing the greatest benefits." Amit Singh, SVP & Treasurer, Newell Brands Seeking a solution It was clear that technology and automation was essential if the treasury team was to achieve its goal of becoming more strategic and unlocking value for the organization. Following the acquisition, Newell’s newly appointed SVP and Treasurer, Amit Singh, put a plan in place to integrate and modernize the combined treasury organization. Crucial to Singh’s plans was the introduction of a cloud-based treasury management solution (TMS) and currency analytics solution that could automate manual tasks, mitigate risk and free up time for strategic data analysis. Following a formal RFP process, Kyriba was chosen as the TMS for cash and liquidity management, payment management, bank connectivity, hedge accounting and interest rate derivatives. Newell also selected a cloud-based currency management platform, FiREapps, for its data collection, exposure consolidation, currency analysis and reporting and hedge recommendations. The company also relied on trading support from FXall, which was integrated with the Kyriba and FiREapps solution in order to automate the hedging process. The benefits The project resulted in a complete treasury transformation. The new process pulls data from 38 legacy ERP systems and 25 different business units. As a result of the treasury management automation, modernized workflow, and more timely and accurate cash forecasting, the size of the balance sheet hedging program has grown from $800M in 2015 to $2B in 2016. The biggest benefit was the massive reduction of P&L noise due to the new workflow efficiencies from Kyriba, FiREapps and FXall, which reduced FX transaction net losses from $90M between 2013-2015 down to $2M in 2016. Quantitative Results 95% cash visibility $25M+ reduction in FX transaction net losses per year $120K technology cost savings 38 Legacy ERP systems included $1.3M Reduction in trading fees 4 Cash processing hours saved per day Also, with the implementation of the robust hedge accounting and trading solution, Newell realized $1.3M in trading savings with the FiREapps and FXall integration. Treasury processes overall have become considerably more efficient, with an automated workflow freeing up more time for value-adding activities. Cash visibility has increased from under 50 percent to 95 percent, while the consolidation of technology platforms has also resulted in savings of $120,000 per year. In addition to the existing benefits, the project lays the groundwork for future improvements. These could include adding in-house banking and currency netting functionalities in Kyriba, as well as expanding cash flow exposure forecasting processes in FiREapps. Celebrating teamwork The project has completely modernized Newell’s treasury processes—an achievement that Singh attributes to two factors. The first is the use of innovative technology. The second is the support of a dedicated and ambitious in-house treasury team, undeterred by the upheaval of a significant merger. “It is one thing to have ideas, but quite another to implement them,” Singh said. “I am fortunate to have a team that believed in the merits of technology in the treasury arena, and that worked so hard to put these solutions in place.” ABOUT NEWELL BRANDS Newell Brands is an American worldwide marketer of consumer and commercial products with a portfolio of over 200 brands with operations in 16 countries.

Payments fraud is now at an all-time high with 74 percent of organizations reporting they have been the target of attempted or actual fraud, according to the latest data from the Association of Financial...

Payments fraud is now at an all-time high with 74 percent of organizations reporting they have been the target of attempted or actual fraud, according to the latest data from the Association of Financial Professionals. CFOs and treasurers clearly require a more complete set of payments controls to stop fraud altogether.

It seems counterintuitive. Even as businesses spend more time and money than ever combatting payments fraud, the crime itself becomes more ubiquitous. In a new study by CFO Research, 40 percent of senior finance...

It seems counterintuitive. Even as businesses spend more time and money than ever combatting payments fraud, the crime itself becomes more ubiquitous. In a new study by CFO Research, 40 percent of senior finance executives report that organizations in their industries are experiencing a much higher incidence of payments fraud than they did two years ago. Payments fraud is any fraud that involves falsely creating or diverting payments. Check fraud, credit card fraud, access fraud, and “spear-phishing” are common varieties seen by CFOs. Some finance chiefs report that the risk associated with payments fraud now approaches the materiality of foreign exchange risk and other high-value uncertainties. Indeed, beyond the sometimes substantial hard-dollar costs, payments fraud can result in lower productivity among employees tasked with dealing with the fallout, adverse customer experiences, the actual loss of customers, a stained corporate reputation, and, for publicly traded companies, losses in stock market valuation. For CFOs charged with safeguarding corporate coffers, there is no silver bullet that can stop payments fraud in its tracks. Managing and minimizing the problem is a discipline unto itself. Done well, it is a holistic, proactive undertaking that combines best-practice processes with dedicated detection and monitoring programs built on the latest advanced technologies. Done well, it also allows CFOs to do a better job of keeping corporate directors apprised of the risks their companies face in this area, and the safeguards in place to mitigate them. Figure 1. The Biggest Challenges My Finance Team Faces in Trying to Combat Payments Fraud Identifying—and Resolving—The Challenges to Success The biggest challenge that CFOs face in combatting payments fraud is finding and implementing the right technology. Technology was cited as a key challenge by nearly one-in-two (45 percent) of survey respondents in the recent CFO Research survey. Conducted in collaboration with Kyriba, the survey polled 167 U.S. finance executives at companies with more than $100 million in annual revenues across a wide range of industries. (See Figure 1). Other commonly cited obstacles include securing the budget for anti-fraud initiatives (38 percent), and finding the time to pursue them (37 percent). Rounding out the top five challenges, finance executives say it’s a challenge to assemble a team with the skill sets (29 percent) and knowledge base (25 percent) needed to fight payments fraud effectively. And, anecdotally, some respondents also suggest that companies aren’t doing enough on the front lines to fight fraud. “Work with the clerks and managers that are likely to be the first people to be contacted or become aware of a fraud attempt,” one survey respondent advises. “They can stop attempts before they get to the payment phase.” Another finance executive suggests it is simply time to buckle down to the task at hand and do a better job of it. “Set aside sufficient budget, do the proper research, then employ the right specialists to get this in place,” the respondent admonishes. “Invest in strong technology and air-tight workflow,” writes another. “Allocate the people and resources to combat and reduce fraud—(the) benefits fall to the bottom line,” writes still another. Report from the Front: Fraud Is on the Rise Payments fraud is on the rise. Four in ten (40 percent) of survey respondents say organizations in their industries are experiencing a much higher incidence of payments fraud than they did just two years ago. Another 15 percent say they can’t confirm or rebut the idea, leaving open the possibility that increases in payments fraud are broader still. These findings are directionally consistent with other studies, including the 2017 AFP Payments Fraud and Control Survey conducted by the Association for Financial Professionals. It found that 74 percent of organizations had experienced attempted or actual payments fraud in 2016, up from 62 percent in 2014 and the highest level recorded since the AFP began tracking the problem in 2006. Contrary to what one might expect, it isn’t always smaller, less sophisticated enterprises that are being impacted by payments fraud. In 2016, the AFP survey found, organizations with at least $1 billion in annual revenue were actually more likely than their smaller counterparts to have been hit by the crime. And while the majority of the respondents to that survey reported that their company’s direct payments-fraud losses were relatively small—less than $100,000—32 percent of financial professionals at companies with at least $1 billion in revenue and more than 100 payment accounts reported losses exceeding $500,000. Within that group, 16 percent said their losses exceeded $2 million. The reason behind the growing incidence of payments fraud isn’t hard to fathom. Throughout history, criminals have demonstrated a remarkable dedication to trying to outsmart their victims, and the advent of new technologies such as social media and mobile shopping and mobile banking have simply widened the field of opportunity. While check fraud remains the most common type of payments fraud, for example, criminals today are increasingly exploiting the digital technologies that make it faster and easier for companies and consumers to interact with each other. Last June, the Federal Bureau of Investigation felt compelled to issue an alert warning about the growing problem of “business email compromise,” in which fraudsters target businesses working with foreign suppliers, or businesses that regularly make wire transfer payments. The relentless enthusiasm exhibited by criminals searching for new ways to defraud businesses means that businesses must combat their efforts with equally relentless countermeasures. Elevating Payments Fraud Detection to a First-Order Priority Only 10 percent of the executives in the CFO Research survey feel strongly that most finance teams in their industry have strong processes and technologies in place to capably and efficiently detect fraud or ensure fraud-related compliance. It is a weak endorsement of current strategies for managing payments fraud. And where companies do seek to battle back, the tactics they use often are aimed at historical threats rather than evolving fraud strategies. Asked which are the most important tactics used by their companies, 45 percent of survey respondents cite auditing (audit trails). That’s followed by expanded use of electronic payments (41 percent) and daily reconciliations (35 percent). All three are valuable tools, to be sure. By contrast, consider that only about one-third of survey respondents (34 percent) say they employ dedicated fraud detection and monitoring systems that can proactively ferret out fraud attempts. The CFO too often appears to be checking the rear-view mirror instead of scanning the road ahead for trouble. Many finance executives also admit that they need to be doing more to support their boards of directors in this area. Asked where their boards most often fail to receive critical information and decision-support data from the CFO, 43 percent list fraud monitoring and mitigation—more than any other area. Thirty-seven percent also say their organizations lack the tools or technology to enable the board to make good decisions on this issue. Figure 2. Tactics for Managing Payments Fraud That My Finance Team Should Substantially Improve The Way Forward: Fraud Detection Where to begin? Dedicated fraud detection and monitoring systems top that list of tactics that the finance team should substantially improve. Cited by 36 percent of survey respondents, fraud detection and monitoring handily outpaces other tools and practices that include limiting the use of paper payments (26 percent), automated approval workflows (24 percent), audit trails (22 percent) and daily reconciliations (22 percent). (See Figure 2). Several survey respondents noted that the ever-shifting and expanding payments-fraud landscape is sufficiently daunting that they advise turning over the work—particularly fraud detection and monitoring activities—to third-party providers for whom it is a core capability. As one survey respondent puts it, “Outsource much of the fraud function to companies that have strong controls. Third parties may be better at this than your team.” Ten Best Practices for Combatting Payments Fraud Understand your vulnerabilities. With so many types of payments fraud, it’s impossible to do a good job of combatting them without understanding what they are. Examples include external threats such as hacking of treasury systems by third parties, as well as a raft of internal threats. The latter include fraudulent payments sent by employees to a company’s bank, either willfully or as an unknowing consequence of a spear-phishing attack; and fraudulent purchase orders and invoices created by employees that are then paid out to related third parties. Erect roadblocks to unauthorized access to corporate information systems. Deploy robust login and user authentication procedures, including dual-factor and in some cases multi-factor authentication. Move finance data to the cloud. While data security has long been cited as a reason for not moving data to the cloud, the growing consensus today is that cloud providers, for whom security is a core competency, offer greater, not weaker, security systems and protocols than most companies can deliver on their own. Because a significant percentage of payments fraud originates internally, moving corporate finance data to the cloud can reduce the opportunity for it to occur. Boost control over global bank accounts. Maintaining a handle on bank accounts becomes more difficult as companies grow and expand globally, but it’s a task that can’t be ignored. Companies need to make sure they have systems that can provide transparency into accounts, authorized signers and account documentation; track all bank activity; and efficiently reconcile accounts with banking partners. Make use of digital signatures. All commerce and banking today is electronic at some point in the payments cycle. Digital signatures, which can help authenticate transmitted payment files, can minimize opportunities for payments fraud. Centralize payments activity in a single system. Coupled with multiple, standardized and electronic approvals, an integrated payments system allows for a complete and detailed electronic paper trail for all payments, minimizing opportunities for fraud. Standardize settlement instructions for financial trades. For any kind of investment transaction, including foreign exchange and derivatives transactions, embedding standardized settlement instructions in corporate financial systems can not only improve efficiency but also help block any redirection of funds to unauthorized accounts. Educate employees. Even the best anti-fraud program will spot fraud only after it’s occurred. That’s still extraordinarily valuable, especially when the system is able to spot the fraud quickly. But one of the best ways to prevent payments fraud is to educate employees about the various types of fraudulent schemes they may encounter, so that they can avoid being duped by them and prevent fraud from occurring in the first place. Update and test your fraud-detection capabilities. Corporations should review their payments-fraud detection/monitoring systems and protocols to make sure they’re working. Some companies may have the resources to do this internally, but many will find it makes sense to engage a third-party expert to both create defense systems and to test them regularly. Regularly participate in opportunities to share with and learn from other organizations. Few “industries” adapt and evolve faster than the payments-fraud industry. A company can no more allow its fraud detection and prevention program to remain static than it could allow its products or services to remain unchanged. Companies should make sure the finance function, and any others that touch on the payments process, participate in conferences and workshops where they can share with and learn from other organizations combatting the same challenges. Conclusion Focusing on the five core challenges to addressing payments fraud is a strong way to get started. Technology, Budget, Time, Skills, and Knowledge are all critical components to developing and implementing an effective strategy. The sidebar, “Ten Best Practices for Combatting Payments Fraud” adds some tactical specificity to the CFO’s search for an answer to payments fraud. No matter which route CFOs take, it’s clear that getting going sooner rather than later makes sense—especially if they count their own organizations among those that are only modestly effective at managing payments-fraud risk today. CFOs increasingly feel that fraud detection and monitoring must become one of their core responsibilities, because it is the only chance they have of staying at least even with an evolving threat. And that threat is not only about the money; it is about the customer, and the brand, and the business. “You need to start already,” concludes one survey respondent. “The criminals are adapting faster than we are.” You Need to Start Already. The Criminals Are Adapting Faster Than We Are.” Check out this on-demand webinar and learn from cybersecurity experts from Corelight and Kyriba on how to build B2B payment fraud defense programs to maximize end-to-end protection.

Innovation - Sound Treasury Management In alignment with the company’s truly innovative approach to technology, and in support of the challenges associated with managing the exponential growth of a world class digital music service,...

Innovation - Sound Treasury Management In alignment with the company’s truly innovative approach to technology, and in support of the challenges associated with managing the exponential growth of a world class digital music service, Spotify’s treasury team planned an ambitious transformation project in 2014 centered around the Kyriba platform. It started with a review and rationalisation of the company’s banking relationships. Project visionary Johan Bergqvist’s strategy to select and work with a core number of banks was totally unconventional and yielded significant returns on relationships and time. Instead of a traditional RFP for banking services, Spotify with support from an external consultancy firm, analysed data to identify which banks that in earlier RFP processes had won in the areas that were relevant for Spotify. These banks were invited to a collaborative workshop to learn about the business and to discuss Spotify’s strategic requirements and how the bank and its products could support those needs. Once the banks understood Spotify’s business and pain points they could dedicate their time to analyse how they could remove operational friction, instead of answering a five page questionnaire of things someone else already vetted. Once selected, it was imperative from the outset for Spotify to maximise global bank connectivity and scalability with the utmost efficiency. The innovative and strategic leadership from Bergqvist looked to Software-as-a-Service models to accommodate the fast-paced growth of his own Saas music product. The transformation project was then initiated following Spotify’s decision to join the SWIFT network. "Our goal was to create a solution oriented and agile treasury to support short and long term business expansion. As a small team, we needed a secure, robust and scalable solution that integrated well with our systems, and although innovation comes from both internal drive and external collaboration, we found that among other technology partners, Kyriba was best aligned to support our needs." Johan Bergqvist, VP, Corporate Finance & Treasury, Spotify Collaboration - Sharing the Vision Key to successful deployment was the collaborative approach of a dynamic team who understood the vision and shared a common goal. Delivery of the broad scope within a challenging timeline meant the project was split into two phases. The first phase - run by a cohesive team of solution experts from Kyriba and external consultancy Covarius - focused on building the bank reporting architecture via Kyriba’s integrated SWIFT Service Bureau, setting up the Spotify entities to align with the cash pools set-up within the Spotify Group. A payment import from, and General Ledger (GL) export to the main Enterprise Resource Planning (ERP) solution were set-up, as well as a market data feed and online trading platform interface. With engagement and close involvement from Spotify’s IT team, the interfaces were designed and built within a month, enabling the business users to concentrate on the task of end-to-end payment and statement import testing with the banks. Quantitative Results 5x Estimated reduction in operational risk 2x Increase in treasury productivity $65k Annual bank fee savings During onsite workshops in Stockholm, the consulting team worked closely with Spotify to design and test workflows built around the SWIFT automation for cash positioning and payments processing. Legacy spreadsheet-based cash positioning processes were quickly decommissioned once automated bank feeds were reconciled to the new process. Segregation of duties built into the approval workflows were shared between the treasury team and accounting department centrally within Kyriba. This enhanced central visibility and security of payments, while reducing reliance on bank-specific software. Finally, the prior day reconciliation workflow with cash categorisation and transaction matching, allowed Spotify to post GL journals for all bank activity to the ERP system on a daily basis. Risk Mitigation - Treasury and Beyond In parallel to the global rollout of Kyriba to support Bergqvist’s vision of a centralised payment factory for enhanced security and visibility of cash, the second phase of the project extended the functional scope. In order to mitigate the challenges faced by any global organisation working in multiple geographies and currencies, Spotify and one of its banking partners built a cloudbased algo-driven FX solution, thus removing manual work and shifting focus towards more strategic and analytic work. Spotify’s Treasury is utilising the Hedge Accounting functionality in Kyriba to ensure a correct and efficient accounting for the derivatives used for hedging the FX exposure. Expansion - Growing with Intent Reflecting the effort and vision of its treasury team combined with the agile implementation of Kyriba, Spotify is now fully equipped to perform its function in a rapidly expanding environment. Enhancing visibility through improved cash management and accounting, while mitigating the risk of fraud and human error through a centralised payments factory, the added financial controls, standardised workflows and treasurywide audit trails have strategically positioned Spotify for its next phase of growth and helped realise Bergqvist’s vision of achieving a cutting-edge treasury.

Corporate fraud is at an all-time high -- is your organization protected? One of the mandates of the modern CFO is to make sure they have secure, end-to-end financial controls in place to prevent...

Corporate fraud is at an all-time high -- is your organization protected? One of the mandates of the modern CFO is to make sure they have secure, end-to-end financial controls in place to prevent both internal and external fraud and protect against loss.

Multiple bank relationship management can be a challenging responsibility, particularly across multiple geographies, languages and time zones. Regardless of the size of an organization, or the number of banks and bank accounts it has,...

Multiple bank relationship management can be a challenging responsibility, particularly across multiple geographies, languages and time zones. Regardless of the size of an organization, or the number of banks and bank accounts it has, relying on manual, time-consuming and errorprone processes to manage bank relationships is inefficient, costly and increases the risk of fraud. Kyriba’s Bank Relationship Management solution utilizes automated workflows to track all details of an organization’s bank accounts, including signatories, and delivers a comprehensive set of capabilities for managing global bank accounts. Kyriba’s Bank Relationship Management module enables clients to gain control over their banking relationships. Through bank account management capabilities supported by automated change management workflows and powerful bank fee analysis, Kyriba clients are more productive and can save dramatically on bank fee costs, while also reducing their risk of fraud. Bank Account Management Kyriba’s Bank Account Management capability utilizes automated workflows to track all details of an organization’s bank accounts, including signatories, and delivers a comprehensive set of capabilities for managing global bank accounts. Bank Fee Analysis Kyriba’s Bank Fee Analysis capability provides clients a hard return on their investment by analyzing and reconciling bank fees, identifying variances and helping optimize the cost of their banking relationships. Using Kyriba, customers can easily reconcile bank fee statements against banks contractual service pricing, transaction volumes and benchmarks. Customers can then review detailed reports containing bank volumes, activity and price discrepancies, and compare trends and fees across banks. Key capabilities of Bank Relationship Management Audit Trails Get a record of every event and generate reports for any period of time Bank Account Tracking Get a record of critical bank account information, including account code, actual bank account number, routing/SWIFT information, company, currency, GL account, bank contact information and multiple reference and description fields Confirmation Letters Generate confirmation letters to support the opening and closing of accounts and changing signers. Letters can be customized and electronically communicated to the bank(s) Document Storage Store key documents and files related to bank account administration, including signature cards, agreements and other documentation Report of Foreign Bank and Financial Accounts Generate compliant FBAR in various format (XLS, CSV, XML) leveraging data stored in Kyriba. The report can be issued at individual, corporation or consolidated level Key Capabilities: Manage bank accounts Manage account signatories Approval workflow to support changes to accounts and signatories Calculate bank fee variances against benchmarks Calculate volume variances using daily bank reporting Software-as-a-service (SaaS): No maintenance fees–subscription-based Security: SOC 1 and SOC 2 compliant Redundant disaster recovery Encryption, authentication and administration Audit trails Reporting: Hundreds of configurable reports Out-of-the-box dashboards FBAR FinCEN XML generation Automated scheduling PDF, Excel, and HTML formats Distribute reports via email

With Kyriba, CFOs and treasury teams can now manage currency risk and compliance in a single cloud platform. Since its acquisition of FIREapps, Kyriba has extended the reach of its FX risk management solution....

With Kyriba, CFOs and treasury teams can now manage currency risk and compliance in a single cloud platform. Since its acquisition of FIREapps, Kyriba has extended the reach of its FX risk management solution. Kyriba uniquely delivers end-to-end risk management with business intelligence capabilities, providing more functionality to identify and understand risk than any other treasury and risk management system. “Our goal is to support the overall business and so getting that visibility, transparency and having the availability of the details is really critical to meeting the overall business needs.” Dawnette Blake, Global Benefits Director, Agilent Technologies Exposure Capture Kyriba’s enhanced solution comprehensively extracts data directly from ERP systems and allows for uploading of data from spreadsheets and other source systems for timely and accurate data collection of balance sheet and cash flow exposures. Kyriba offers certified exposure data extract toolkits from leading ERP systems such as SAP and Oracle, as well as support for all other source systems. Exposure Analysis & Management Kyriba gives CFOs control over currency risk by explaining the meaning of currency impacts and offering solutions to protect the business from currency volatility. With extensive data and exposure analytics, CFOs can gain insight into currency risk, execute proven strategies to manage EPS targets without FX surprises, weigh the cost vs. risk of managing individual currencies, and leverage trade netting opportunities to reduce transaction costs. Trade Management Kyriba is a single source of record for FX trades, including spot, forward, swap, and option instruments, enabling two-way integration with trading portals for trade confirmations, settlements, update of treasury forecasts, and analysis of open and hedged FX exposures against FX policies. Kyriba clients can interface with any trading portal, including FXall and 360T. Valuation and Accounting Kyriba’s mark-to-market engine calculates fair values based on integrated market data within the system. Kyriba also supports CVA/DVA as well as scenario risk analysis and value-at-risk. Kyriba also includes a separate accounting engine for journal entry calculation, generation, and integration to the ERP. Kyriba supports derivative and hedge accounting for ASC and IFRS regulatory compliance, with extensive workflow for designation, documentation, and reclassification of balances. Business Intelligence Kyriba offers rich, interactive dashboards for comprehensive data visualization and business intelligence, enabling treasury teams to quickly illustrate overall FX exposure and risk. Dashboards include easy-to-understand “top of the house” summary of corporate FX exposure, hedge coverage and Value at Risk (VaR), as well as quick insight into underlying sources of exposure by currency, entity, and geography so users can easily spot unexpected changes in their risk exposure.

Kyriba Payment Management offers our clients a seamless end-to-end customer experience (everything between the browser and the bank), delivering a secure, reliable, and consistent payment process that insures our clients' payments are secure and...

Kyriba Payment Management offers our clients a seamless end-to-end customer experience (everything between the browser and the bank), delivering a secure, reliable, and consistent payment process that insures our clients' payments are secure and executed with confidence, while minimizing exposure to fraud.

In this eBook, Actualize Consulting and Kyriba address the many strategic advantages that an in-house bank provides, the key benefits that range from bank fee savings to increased visibility of corporate-wide FX exposures and...

In this eBook, Actualize Consulting and Kyriba address the many strategic advantages that an in-house bank provides, the key benefits that range from bank fee savings to increased visibility of corporate-wide FX exposures and enhanced controls, as well as the must-dos and dont's for a successful in-house bank launch. Considering if an in-house bank is right for your organization? This eBook is right for you!

The modern treasurer now manages an expanded risk profile with increasingly technical compliance challenges and increasingly sophisticated instances of cyber-crime. Meanwhile, strategic cash management, optimizing working capital and centralizing payments among others remain top...

The modern treasurer now manages an expanded risk profile with increasingly technical compliance challenges and increasingly sophisticated instances of cyber-crime. Meanwhile, strategic cash management, optimizing working capital and centralizing payments among others remain top priorities. Download this eBook to gain insight into seven competitive advantages and the the available tools, techniques and technology you can utilize to overcome those challenges.

The fraud attempt started with an email from the CEO. Fortunately, the treasury team at a leading real estate developer had worked diligently to establish effective payment processes that would reduce the risk of...

The fraud attempt started with an email from the CEO. Fortunately, the treasury team at a leading real estate developer had worked diligently to establish effective payment processes that would reduce the risk of fraudulent or inaccurate payments. These policies included internal controls, information technology and dissemination, corporate culture and monitoring/compliance. A Credible Request The assistant treasurer received an email from the CEO requesting an $8 million wire to execute an acquisition of a UK target company. Given the confidential nature of the transaction, the email indicated that the assistant treasurer should not discuss the wire with anyone else. To top it off, the treasurer happened to be on vacation. The transaction appeared credible and the email accurately mimicked the writing style of the CEO. As the assistant treasurer began to take action on the CEO’s request, he realized that for a number of reasons he would be unable to execute the wire. Policy Meets Reality via Kyriba Thanks to the controls established by the company and held in place by Kyriba: The payment could not be processed by a single person. This company had configured Kyriba so that every payment must have at least three separate employees involved before it can be processed. One employee requests the payment, one employee processes the payment and a final employee approves/releases the payment. The $8 million amount exceeded the assistant treasurer’s authority in Kyriba. Kyriba’s platform enforces authority limits that give each employee a specific maximum on the payment amount they can approve. He would need to gain approval from someone with a higher limit in order to execute the wire. Fraud Stopped in its Tracks When the assistant treasurer walked down to the CEO’s office to discuss these questions, it quickly became apparent that this wire request was fraudulent. The company’s use of Kyriba to enforce its internal fraud prevention policies was critical to preventing this fraud attempt. Other ways that Kyriba helps this company identify and protect against fraud includes the rapid dissemination of information in order to ensure that all transactions are widely communicated to accounting and other key departments. The platform distributes key reports, including a list of payments being processed, several times a day. Daily report dissemination allows their accounting group to perform timely accounting reconciliations which highlights fraudulent or inaccurate payments and prevent them from occurring in the future. Thanks to Kyriba’s ability to support segregation of duties, payment authorization limits, and bank controls, this leading real estate developer avoided an $8 million loss.

Based on an interview with James Adams, Group Treasurer, and Shiban Patel, Treasury Analyst, Chalhoub Group The benefits of centralized Treasury operations – and of in-house banks – are today of increasing interest to...

Based on an interview with James Adams, Group Treasurer, and Shiban Patel, Treasury Analyst, Chalhoub Group The benefits of centralized Treasury operations – and of in-house banks – are today of increasing interest to more and more successful corporations in the Middle East. This case study explains why the Chalhoub Group built a new Treasury department, outlines how it was set up and automated, and summarizes the benefits which are now being achieved. It concludes with a few recommendations for others who are considering similar developments. Why Build a Group Treasury? About two years ago, the Dubai based Chalhoub Group’s sustained business success and growth caused the CFO and CEO to decide to establish a Group Treasury department. The primary reasons for doing so were to take advantage of the economies of scale in the management of Foreign Exchange risk and of cash, and to improve the visibility and mobilization of cash, in what was a typically decentralized corporate structure. At the time, there was no centralized Treasury function at the Chalhoub Group. Chalhoub’s management team did not have clear, up-to- date visibility of the organization’s overall cash balances, or of the group’s financial risk due to the rapid pace of growth. Some entities were running cash surpluses, whilst others were overdrawn. Accordingly, the senior management team decided to initiate a project to create a new central Treasury operation, at the corporate head office in Dubai. Initiating the Group Treasury Project The internal resources for establishing a professional Treasury operation from scratch were limited, so Chalhoub commissioned one of the Big Four consulting firms to perform the necessary research and analysis. The firm reviewed the ‘as is’ situation, and proposed a target operating model for Treasury. Chalhoub then built a team to establish the new department under these parameters. A key feature of the model was the implementation of a modern Treasury Management System (‘TMS’) to underpin operations, and to provide automated support for core activities, with the required security, control and transparency, and with high grade audit quality. The project team consisted of a cross-functional panel from the consulting firm and the Chalhoub Group. For the system selection and implementation processes, this also included Chalhoub IT and Legal specialists. There was a full time project manager to drive things forward, and senior management were actively involved in monitoring the direction and progress of the project, and to ensure that it was fully supported throughout the organization. The Target Operating Model The target operating model identified four key business objectives for the new Group Treasury: Centralized cash management. Centralized FX risk management. Establishing best practice governance. Achieving the operating benefits of automation. The structure of the new department that was created now consists of seven professionals, including legal, IT and accounting. The Technology Investment The team built the business case for the technology investment to secure a budget for the project. The business case needed to demonstrate a tangible return on the investment, as well as the intangible benefits of enhanced control and financial risk visibility. The business case was based upon the benefits of the better use of cash through pooling and cash concentration, and of improved FX transaction pricing. Chalhoub’s Banking Network At an early stage, Chalhoub reviewed and updated its banking relationships, to implement the quite complex cash pooling arrangements needed, and to set up the required credit facilities and structures. The Chalhoub Group now works with 19 different banks, operating about 200 bank accounts in 15 different currencies. Chalhoub has three core Partner Banks, and also works with local banks that can provide multiple branches to service the Group’s retail business. Robust SWIFT bank communications are outsourced to Kyriba, who are a SWIFT bureau. Cash Management Benefits The centralized structure gives Treasury real-time visibility over the Group’s network of bank accounts. Chalhoub has successfully set up cash pooling arrangements wherever permitted, meaning that they are now effectively using cash surpluses in some parts of the Group to finance shortfalls in others. This innovation has generated valuable interest savings, by minimizing external borrowings, and by enabling surpluses to be aggregated for investment at the best available rates. FX Benefits The central Treasury now has full visibility of the Group’s Foreign Exchange exposures. Treasury Analyst Shiban Patel elaborates: ‘we are now able to net many exposures internally, wherever feasible eliminating the need to buy and/or sell in the FX markets - and thus avoiding the related costs. We can easily identify the remaining exposures, and we hedge them in the markets in compliance with Treasury policy. As we aggregate individual exposures internally, we need less frequent market interventions, and we are able to command finer prices for our transactions.’ Treasury Control The Kyriba TMS provides the required automation support for Treasury’s STP workflows, ensuring that bank connectivity and treasury management work together seamlessly, in compliance with treasury policy. The system’s security and control facilities will ensure that system access rights are fully controlled, to protect the use and reporting of sensitive Treasury information. In-House Banking "Chalhoub Group Treasury has established an active in-house bank function to automate the organization’s key cash and FX management functions - which is quite a change from the highly decentralized situation of just two years ago." — James Adams, Group Treasurer of Chalhoub Group James Adams continued, "In-house banking is quite a new concept among corporations in the Gulf Region and the Middle East in general, where decentralized business models have generally been the norm. The Chalhoub Group's senior management team initiated and drove through the Treasury project to enable the Group to enjoy the benefits and efficiencies of international best practice Treasury operations." Future Growth Plans There are numerous possibilities for Chalhoub Treasury to extend its use of the TMS, subject of course to a positive cost/benefit analysis for each alternative. These include automated bank account management (‘BAM’), reconciliation, payments management and financial accounting. Summary There are many private companies in the Middle East that have grown rapidly over the past decade, but lack a clear approach to Treasury management. In some instances, this has created inefficiencies and several challenges for financial risk management, particularly in the current environment in which greater levels of automation and control are increasingly accepted as best practice. Chalhoub has taken the initiative by successfully creating a value-adding central treasury operation. James Adams adds: ‘If your senior management team decides that establishing a new Group Treasury is the best way forward, I offer the following recommendations to those responsible for the project: Take the time to research, define and document all the business requirements from the outset, so that the project can be accurately planned, measured and managed. This should minimize delays and errors. Do not underestimate the human resources needed for success! Work with your team to identify the necessary resources to complete the project as planned. Consider using an external advisor to provide the expertise you do not have in-house, to validate your planning, and to add value as specifically needed. Ensure that your detailed planning includes clearly defined targets and deadlines, so that you can measure progress accurately, can identify potential problems and delays, and can define and initiate any necessary adjustments and corrections. Ensure that you organize sufficient resources (including legal) to complete the demanding administrative processes required for setting up cash pools and borrowing facilities without delaying the project. Secure the backing and participation of senior management, to provide authority for the significant process change involved in implementing a new central Treasury.’ About James Adams James is the Group Treasurer at the Chalhoub Group, a leading partner for luxury across the Middle East, expert in retail, distribution and marketing services. He is responsible for all aspects of Treasury, and has recently led several projects to establish the new function within the firm. Prior to joining Chalhoub in 2014, James was a Senior Manager in the Deloitte Treasury Advisory team based in London. He has worked with Group Treasurers and CFOs at a variety of companies in the UK, Europe, Middle East, North America, Russia and Asia. His particular areas of interest are Treasury Systems, Risk Management and Treasury Strategy. James is a Full Member of the Association of Corporate Treasurers (MCT) and a Chartered Management Accountant. About Shiban Patel Shiban is currently a Treasury Analyst at the Chalhoub Group. He has worked closely with the Group Treasurer to set up the new, centralized Treasury department within the Group. Whilst primarily looking after Front and Middle Office activities, he has also been involved in managing several projects ranging from implementing systems, to advising on Treasury best practice policy and governance. Prior to joining the Chalhoub Group in 2014, Shiban worked at ConocoPhillips and Phillips 66 in London, where he played an integral role in setting up the downstream company’s Treasury team as the oil and energy giant went through a demerger. Shiban is also a member of the Association of Corporate Treasurers and has completed the certificate in International Treasury Management (CertITM). ABOUT THE CHALHOUB GROUP The Chalhoub Group has been the leading partner for luxury across the Middle East since 1955. As an expert in retail, distribution and marketing services based in Dubai, the Group has become a major player in the beauty, fashion and gift sectors regionally. With a growing workforce of more than 12,000 people, implemented in 14 countries, and a network of over 650 retail stores, the Group’s success is attributed to its most valued asset: highly skilled and dedicated teams. By demonstrating commitment to sustainable business, the Chalhoub Group was awarded in 2015, for the third consecutive year, the CSR Label from the Dubai Chamber of Commerce and has been accepted as a new member of the United Nations Global Compact Community.

This ebook outlines seven of the most critical reasons why treasury professionals in more than 100 countries use Kyriba to manage their organization’s most critical asset. Topics covered in the ebook include: Bank connectivity...

This ebook outlines seven of the most critical reasons why treasury professionals in more than 100 countries use Kyriba to manage their organization’s most critical asset. Topics covered in the ebook include: Bank connectivity Cash forecasting Security and fraud prevention Creating strategic value See for yourself why Kyriba’s SaaS treasury management system is the most-used TMS, trusted by more than 1,500 of the world’s largest and most respected organizations.

Lack of visibility over cash balances and risk exposures is cited year after year in industry surveys as treasurers’ top priority and biggest challenge. This ebook outlines straightforward steps that corporate treasurers can take...

Lack of visibility over cash balances and risk exposures is cited year after year in industry surveys as treasurers’ top priority and biggest challenge. This ebook outlines straightforward steps that corporate treasurers can take to achieve 100% visibility on global cash balances.

The increase in global trade and government regulations, combined with improved technology processes, is behind a push for organizations to deploy centralized financial solutions. In particular, forward-thinking financial departments, which have already implemented treasury...

The increase in global trade and government regulations, combined with improved technology processes, is behind a push for organizations to deploy centralized financial solutions. In particular, forward-thinking financial departments, which have already implemented treasury management systems in order to gain global cash visibility and optimize liquidity, are now focusing on payments and debits. Kyriba's white paper on payment factories provides valuable insight for anyone who is thinking of establishing a payment factory, or any finance professional who is looking to streamline their payments process and reduce transaction fees.

Over the next five years, there will be a seismic move in the enterprise software space. By the end of the decade, the majority of companies will be running their ERP in the cloud....

Over the next five years, there will be a seismic move in the enterprise software space. By the end of the decade, the majority of companies will be running their ERP in the cloud. This will surely create a surge in revenue for the ERP firms and many of the system integrators poised to capitalize on this massive undertaking and reap the benefits of years of migration project work – many of which will be global in nature and need to tackle the complexity of global banking integrations.