Fit for a King – Jewel in the Payments Crown

By Kyriba

It was the need for added security, visibility, transparency and centralised payments control that led Graff Diamonds – one of the most exclusive jewellers in the world with a growing presence in over 60 stores – to review its payments process and ultimately leverage Kyriba’s technology. Achieving group-wide visibility of cash from 6 local finance teams across the globe was a consistent challenge with too many banking partners, inconsistent spreadsheet-based management of accounts and individual payment authorisations requiring online banking token-login access.

We heard from Group CFO Andrew Nicholson on his aspiration to shift the team to a more efficient and solid monthly accrual accounting model with stronger controls and real-time cash visibility. Thanks to Kyriba’s seamless integration with multiple data sources, robust fraud and sanction screening controls and simple on-demand access, Andrew now has confidence in his treasury data, access to historical data, one login for payment authorisation and a future view of cash, allowing him to reign over payments from his multi-currency accounts in 15 different countries.

For other corporates considering a similar transformation, Andrew recommends challenging the status quo by reviewing your payments landscape, rationalising the number of banks and with a Kyriba project team, securing the support of your own IT, finance teams and partner banks to eliminate the token environment. Click here to read the full story…