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Success Story
Lifespace Communities Sees Immediate and Significant Savings with Kyriba
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.
“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.”
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.
Table of Contents
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
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Locations 14 Communities, 7 States
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Annual Revenue $350M
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Industry Not-for-Profit Senior Living
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Employees 3700+
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