Kyriba & NetSuite API Integration Certification
Unleash the Power of Liquidity Management with Oracle NetSuite & Kyriba
Why NetSuite Certification Matters
Kyriba, certified by Oracle as “Built for NetSuite,” uses NetSuite Web Services APIs to give confidence to Oracle customers that together we can deliver successful outcomes. Kyriba’s certified Oracle NetSuite partnership is a natural evolution of the longstanding relationship between two technology leaders, connecting Oracle’s NetSuite ERP solution with Kyriba’s Connectivity-as-aService (CaaS) to harness the power of both organisations.
Thousands of corporations rely on Kyriba to streamline key financial processes, reduce global financial and operational risk and accelerate growth through improved decision-making support. Kyriba’s centralized, cloud-based platform along with our CaaS solutions delivers integration capabilities between banks, ERPs, Financial Supply Chain components. All of which deliver better information and strategic decision-making capabilities for CFOs and their teams.
Bank requirements for unique, or proprietary direct connections and regional clearing system-specific, payment formats can extend the time needed to connect some systems to your banking partners to over a year. When addressing multiple bank connections, the challenge becomes more complex and therefore requires significant effort and experience.
Kyriba’s proven bank connectivity accelerates this process, and relieves potential development and maintenance burdens on IT, as it already provides over 2,000 clients with out-of-the-box bank connectivity. This is supported by an extensive library of predeveloped and tested payment formats to an unparalleled network of global banks.
The cloud-based nature of both technologies means businesses can also leverage Oracle’s NetSuite Cloud Platform to simplify the secure connection of third-party software and provide ready access to Kyriba’s proven and unparalleled bank connectivity network.
Given Kyriba’s history of Oracle NetSuite integrations, experienced teams deliver process for your IT team to efficiently export your data to Kyriba. We further simplify that improved connectivity using interfaces that support APIs and SFTPs and provide the parameters to construct an IDoc extract to allow us to manage the subsequent mapping.
A single payment file from NetSuite is all that is then required to cover all banks, payment types and formats. The all-payment file runs through the Kyriba transformation engine and the required banking format is submitted to the bank, with confirmation automatically and seamlessly delivered back to the sender.
The Benefits of Certification
The integration between NetSuite and Kyriba allows clients to submit and monitor payments and direct debits using NetSuite for automated integration into Kyriba Solutions, which in turn are linked to continued processing and submissions to banks.
The integration uses a standardized payment file format and relevant fields are automatically mapped to the payment files from NetSuite.
In order to maintain security and data integrity, all vendor and customer details are only managed in NetSuite. The payee details are considered as a “one-time” third party in Kyriba, so details are not stored outside of the individual payments.
This also means that invoices and receipts are created in NetSuite following the standard Payables and Receivables processes. The NetSuite platform transmits payment files to Kyriba Hub using SOAP API. Files are retrieved by the Kyriba Application and integrated into the Payment Module following the standard process. The set up in Module Data Exchange enables mapping flexibility.