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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.

Figure 1. IDC MarketScape Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications Vendor Assessment Source: IDC, 2023   IDC Opinion In times of uncertainty, businesses rely heavily on liquidity management to stay...

Figure 1. IDC MarketScape Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications Vendor Assessment Source: IDC, 2023   IDC Opinion In times of uncertainty, businesses rely heavily on liquidity management to stay prepared for the unknown. Between global conflict, natural disasters, political unrest, and the ever-looming shadow of economic uncertainty, the ability to manage liquidity and cash is becoming a higher priority than ever. The current state of the world gives treasury management software (TMS) providers the opportunity to capitalize on an ever-growing need. Businesses use liquidity to determine how easily assets can turn into cash. A liquidity ratio shows how financially stable a business is by demonstrating what a business owes versus what it owns. With a high liquidity ratio, businesses are more prepared to pay short-term liabilities and any unexpected expenses, bills, or obligations. A low liquidity ratio shows that it may be difficult for a business to turn assets into cash within a brief period if an unanticipated situation occurs and, therefore, is at a greater risk of bankruptcy. The ability to accurately determine a business' current state of liquidity is essential for making wise business decisions. In addition, a business' liquidity ratio is usually a factor in decision making for lenders and investors looking to provide loans or funding. They want to have an idea of how easily the business could obtain cash if needed. In times of increased inflation and skyrocketing interest rates, liquidity ratios can make or break a business. For these reasons, the ability to accurately determine and manage liquidity and cash is an even greater concern to business owners now than ever. Using the proper treasury management system can assist with these liquidity concerns while guarding against error-prone manual processes, low cash flow awareness, compliance issues, and disorganized data. Key features to take under consideration when determining the best treasury management solution for a business include automation capabilities, analytics and reporting, forecasting capabilities, compliance functions, reconciliation, security and, of course, liquidity tracking and cash management. These features assist with a variety of pain points a treasurer and accounting department may face and provide decision makers with real-time views of the business' financial standings. As a result of current events and a growing emphasis placed on liquidity and cash management, treasury management solutions are finding themselves in the spotlight. Common features of treasury management systems include liquidity and cash management, proving them invaluable to businesses struggling to maintain an accurate picture of their cash flow and current liquidity ratios. While these features are extremely useful, they can fall under scrutiny if not updated and streamlined according to the current needs of users. Now is the time for treasury management software providers to highlight their liquidity and cash management features when interacting with potential clients. This is also a perfect opportunity to improve and streamline processes that may be outdated, overly complicated, or difficult to implement, as these features will be under greater scrutiny than usual. Taking the initiative to meet the evolving liquidity and cash management needs of today's treasurer will set up a software provider apart from the competition. Enterprise Difference Within the enterprise segment, organizations often have dozens (sometimes hundreds) of back-office applications connected to the process or resulting data from travel and expense management. Data from treasury activities must flow between all the relevant finance functions, including accounts payable (AP), accounts receivable (AR), FP&A, order management, and procurement. In addition, the data must flow outside of the finance teams as well including investors and lenders, certain government agencies, banking/financing partners, and even to certain customers and suppliers. Here are few issues that enterprise businesses feel more acutely than smaller businesses, including: Centralized liquidity/cash data: The centralization of liquidity data streamlines financial operation, allowing for better control for financial leaders. Centralization provides financial leaders with the opportunity to standardize cash management across all legal entities, reduce the number of bank accounts in use, and provide a more holistic view of bank or foreign exchange (FX) exposures. Deep liquidity analytics: Having access to deep analytics provides users with the ability to better predict future liquidity. More importantly, it allows them the chance to find patterns or overlooked items that have business significance (e.g., identifying cash as a revenue-generating asset, monitoring bank fees, and deposit rates). Real-time massive data: Finance leaders need real-time information to optimize decision making but often must wait to the end of day/period/quarter to get an accurate and holistic view of the current state of the enterprise liquidity. Today's liquidity manager needs real-time data to build accurate forecasts and market simulations. Real time is also essential in effective communication of the business cash position between stakeholders. IDC Marketscape Vendor Inclusion Criteria The vendor inclusion list for this document seeks to accurately depict the vendors that are most representative of any given treasury functional buyer's selection list. Vendors were further investigated to ensure that their offerings qualified as "software as a service (SaaS) or cloud enabled" and the vendor had won recent deals. Further, participant companies indicated which other vendors they most often compete against in deals. Also, the treasury software must be able to be purchased and implemented separately from other associated financial/enterprise resource planning (ERP) software. Preference was given to companies with revenue of more than $10 million and/or that were on our watch list of companies within this market. The vendor inclusion list for this document seeks to accurately depict the vendors that are most representative of any given software application on a buyer's selection list based on the following items: Vendors must have a SaaS or cloud offering — on-premises-only applications are out of scope. Software applications can be purchased separately (not just functionality built into a larger system) and are available off-the-shelf without required customization. Software application has capabilities for treasury management features including bank relationships management, corporate payment management, financial risks management, cash and liquidity management, debt and credit ratings, debt and investments, and hedge accounting. The vendor had 2023 revenue in at least two countries. The vendor had at least $5 million in 2023 treasury management software revenue. The vendor had minimum of one treasury product in market for at least three years. The vendor must have a significant footprint with business with more than 1,000 employees. 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 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 vendor or even whether a dedicated TMS is a sound investment for your organization, first you should take the opportunity to do some self-reflection. Here are key questions to ask regarding the internal resources and processes: What are 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 due diligence in finding the right TMS vendor. Here are 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 you a live demo with your 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 they 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 optimal results, organizations must take an active role in the actual implementation of the software. Treasury management software touches upon other back-office systems (ERP, finance, accounts receivable, supply chain, inventory, etc.). 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 key questions to ask regarding the TMS implementations: 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 TMS integrate with my company's other IT systems and those of my partners? Which IT systems need to integrate and to what degree? How are we set up to deal with frequent product updates? Note that post-implementation is critical: 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 vendor assessment assists in answering these questions, among 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. Kyriba After a thorough evaluation of Kyriba's strategies and capabilities, IDC has positioned the company in the Leaders category in this 2023 IDC MarketScape for the worldwide SaaS and cloud-enabled enterprise treasury and risk management applications market. Kyriba is a secure, scalable SaaS platform that leverages artificial intelligence, automates payments workflows, and enables multinational corporations and banks to maximize growth, protect against loss from fraud and financial risk, and reduce operational costs. Kyriba's platform offers a range of solutions, including cash and liquidity management, forecasting and budgeting, risk management, payments and bank connectivity, and financial accounting. The platform is designed to help companies of all sizes, from small businesses to large enterprises, and manage their financial operations more efficiently and effectively. Quick facts about Kyriba are: Employees: 1,000 Total number of clients: 2,500+ Globalization: 100+ Industry focus: Chemicals, consumer goods, energy, financial services, healthcare, higher education, insurance, manufacturing, nonprofit, real estate, retail, technology, transportation, hospitality, and utilities SaaS: Multitenant SaaS platform Pricing model: Combination of annual subscriptions and consumption based Partner ecosystem: 100+ Strengths Data and connectivity: Kyriba's platform uses APIs to unify data across the enterprise, AI to predict and enrich new data, and embedded Analytics to visualize and present data patterns and reporting. Kyriba offers out-of-the-box, certified connectivity to ERP vendors including SAP ECC and S4/Hana, Oracle, NetSuite, and Microsoft Dynamics and includes prebuilt connectors to over 1,000 global banks for bank reporting and payments. Kyriba offers a SWIFT service bureau alongside APIs and other direct to bank connectivity. More than treasury: Kyriba's platform offers treasury alongside risk management, payments, working capital, and connectivity products. Each can operate standalone or as a single solution. Kyriba was originally built as a cash management solution and has developed into a comprehensive TMS with products that are designed for IT and other branches within the office of the CFO. Challenges Client's short-term goals: Focus by clients on immediate functional requirements to replicate their current business practices without fully strategizing future requirements and involving their IT teams soon enough to leverage available transformation capabilities can be a challenge when implementing a new TMS. Client internal alignment: As Kyriba offers more than TMS capabilities (payment factory, payables finance, and receivables finance), there are challenges in obtaining an internal alignment of many teams in the client organization (CFO, treasury, accounting, procurement, IT, etc.) to leverage all Kyriba's capabilities. Consider Kyriba When Consider Kyriba if you are looking for a comprehensive TMS that features a robust cash and liquidity management system from a company that also offers many additional finance department capabilities. About IDC International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,100 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For 50 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. Copyright and Trademark Notice This IDC research document was published as part of an IDC continuous intelligence service, providing written research, analyst interactions, telebriefings, and conferences. Visit www.idc.com to learn more about IDC subscription and consulting services. To view a list of IDC offices worldwide, visit www.idc.com/offices. Please contact the IDC Hotline at 800.343.4952, ext. 7988 (or +1.508.988.7988) or [email protected] for information on applying the price of this document toward the purchase of an IDC service or for information on additional copies or web rights. IDC and IDC MarketScape are trademarks of International Data Group, Inc. Copyright 2023 IDC. Reproduction is forbidden unless authorized. All rights reserved.

16 novembre I Ore 12:00/12:45 Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidità aziendale basata interamente su...

16 novembre I Ore 12:00/12:45 Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidità aziendale basata interamente su cloud che fornisce una visibilità di cassa completa ed un insieme di potenti funzionalità che permettono di ottimizzare la liquidità aziendale. A differenza dei tradizionali sistemi di gestione della tesoreria e dei sistemi ERP, l'Active Liquidity Network di Kyriba espande, estende e trasforma i processi finanziari e di tesoreria per generare valore aggiuntivo, senza aumentare il rischio.

19 ottobre dale 12.00-12.45 La piattaforma Kyriba è in continua evoluzione con l’obiettivo di trovare le miglior soluzioni per la gestione della tesoreria, dei pagamenti, del working capital e delle operazioni a copertura dei...

19 ottobre dale 12.00-12.45 La piattaforma Kyriba è in continua evoluzione con l’obiettivo di trovare le miglior soluzioni per la gestione della tesoreria, dei pagamenti, del working capital e delle operazioni a copertura dei rischi finanziari. I clienti che utilizzano la piattaforma godono pertanto di funzionalità avanzate e pienamente integrate che riducono al minimo il lavoro manuale e producono valore per l’intera organizzazione.

21 Settembre I Ore 12:00/12:45 Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidità aziendale basata interamente su...

21 Settembre I Ore 12:00/12:45 Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidità aziendale basata interamente su cloud che fornisce una visibilità di cassa completa ed un insieme di potenti funzionalità che permettono di ottimizzare la liquidità aziendale. A differenza dei tradizionali sistemi di gestione della tesoreria e dei sistemi ERP, l'Active Liquidity Network di Kyriba espande, estende e trasforma i processi finanziari e di tesoreria per generare valore aggiuntivo, senza aumentare il rischio.

20 luglio dalle 12.00/12.45 La gestione corretta di un processo di pianificazione della liquidità rappresenta il punto di partenza per abilitare un’attività decisionale efficace e consapevole. Per questo motivo Kyriba ha rilasciato il modulo...

20 luglio dalle 12.00/12.45 La gestione corretta di un processo di pianificazione della liquidità rappresenta il punto di partenza per abilitare un’attività decisionale efficace e consapevole. Per questo motivo Kyriba ha rilasciato il modulo di Liquidity Planning che permette di supportare le organizzazioni nella previsione del free cash flow e della liquidità in modo più strutturato, accurato e rapido. Vediamolo insieme nel nostro prossimo webinar.

29 guigno ore 12.00/12.45 | Le organizzazioni richiedono livelli di automazione sempre più elevati con l’obiettivo di eliminare attività ripetitive, a basso valore aggiunto, e consentire alle funzioni di tesoreria e finanza di orientare...

29 guigno ore 12.00/12.45 | Le organizzazioni richiedono livelli di automazione sempre più elevati con l’obiettivo di eliminare attività ripetitive, a basso valore aggiunto, e consentire alle funzioni di tesoreria e finanza di orientare le proprie energie verso attività strategiche.

30 maggio dalle 12.00/12.45 / La gestione corretta di un processo di pianificazione della liquidita’ rappresenta il punto di partenza per abilitare un’attivita’ decisionale efficace e consapevole. Per questo motivo Kyriba ha rilasciato il...

30 maggio dalle 12.00/12.45 / La gestione corretta di un processo di pianificazione della liquidita’ rappresenta il punto di partenza per abilitare un’attivita’ decisionale efficace e consapevole. Per questo motivo Kyriba ha rilasciato il modulo di liquidity planning che permette di supportare le organizzazioni nella previsione del free cash flow e della liquidita’ in modo piu’ strutturato, accurato e rapido. Vediamolo insieme nel nostro prossimo webinar.

Cash forecasting is the process of predicting near future cash flows, including both inflows and outflows, based on current business conditions and past performance. It is a crucial component of effective cash and liquidity...

Cash forecasting is the process of predicting near future cash flows, including both inflows and outflows, based on current business conditions and past performance. It is a crucial component of effective cash and liquidity management, as it enables organizations to anticipate changes in their liquidity and plan for them accordingly. Proactively managing cash flow enables organizations to make more informed decisions, mitigate risk, and optimize cash investments. Generally, cash forecasting is concerned with identifying liquidity requirements for the next 30 days, 60 days, or 90 days. Differences between Cash Management, Cash Forecasting and Liquidity Planning Cash management looks at daily cash positioning and reconciliation of prior day bank transactions, including bank reporting, bank transaction tagging, and target balancing of accounts. Cash forecasting projects cash surpluses and requirements of days/weeks/months into the future. Forecast data is captured from internal and external sources with the ability to model simultaneous forecasts in parallel and stress-test against multiple business scenarios. Liquidity planning is an evolution of traditional cash flow forecasting surrounding the cash forecast with data which supports better-informed liquidity decisions. It looks into more data sets including cash, credit, debt and investments and extends focus on medium to long-term cash needs. Table: Key differences between Cash Management, Cash Forecasting and Liquidity Planning Cash Management Cash Forecasting Liquidity Planning Primary focus Operational Tactical Strategic Purpose Optimize cash Forecast cash inflows/outflows Manage available cash to meet future obligations Time horizon Short-term Up to 90 days Up to 12 months Frequency Daily / Weekly Daily / Weekly / Monthly Monthly / Quarterly / Yearly Importance to Business Essential for daily operations Critical for short-term stability Essential for long-term financial health Tools used Bank accounts, cash receipts/payments, cash pooling Cash flow statements, Cash flow projections, budgets Financial statements, ratio analysis, cash flow analysis, scenario planning Why is Cash Forecasting Important? Accurate forecasting gives businesses the ability to understand their cash position at any given moment, enabling them to anticipate and plan for any potential shortfalls. Businesses can also use the cash flow forecasting to identify opportunities to reduce costs and maximize returns on investments. Additionally, forecasting can help businesses manage their liquidity, allowing them to minimize the risk of running out of cash and prepare for any potential cash crunches. In summary, effective cash flow forecasting allows organizations to: Ensure efficient and accurate cash flow management by identifying discrepancies between actual and expected cash flows and taking corrective action if necessary. Optimize cash flow planning with more accurate cash flow projections. Forecasting enables companies to anticipate potential cash flow problems and take the necessary steps to avoid them. Companies can also use forecasting to develop more effective strategies for financial planning and budgeting. The Benefits of Forecasting Cash Flow Having a reliable forecasting process is essential for businesses of all sizes. Organizations accurately forecasting cash flow are better equipped to make informed decisions about investments, capital expenditures and working capital management, and eventually achieve greater cash flow efficiency. It is important to ensure the forecasting process is regularly reviewed and updated to reflect changes in the business environment. This includes monitoring external factors such as changes in interest rates, inflation, and market trends, as well as internal factors such as changes in business strategy or operations. By continuously improving their forecasting process, businesses can maintain a competitive edge and achieve greater cash flow efficiency in the long run with the following visible positive business outcomes: Improved Planning and Budgeting: Organizations can plan and budget based on the most up-to-date and accurate financial data. By using the right tools, organizations can predict the timing of inflows and outflows, giving them a better understanding of their short-term liquidity needs. Better Decision Making: By understanding the company’s future cash flow, businesses can make informed decisions about investments, expenses, and other financial activities. Early Identification of Cash Shortages: Organizations can identify potential budgeting issues before they become a problem, allowing them to take corrective action quickly and efficiently. Improved Cash Management: The information gained from accurate forecasting enables companies to better predict future cash flows and calculate future cash balances, equipping finance teams with the cash visibility they need to plan for the future. What Is Cash Forecasting Method? An accurate forecast includes having a clear understanding of when funds are coming in and when those funds will be needed to pay bills. By using the right cash flow forecasting techniques, businesses are able to better prepare for unexpected expenses. There are two main cash flow forecasting techniques that are commonly used: Direct method estimates future cash flows based on actual inflows and outflows, providing detailed operating cash flow information. It involves forecasting cash receipts and payments on a detailed level, that's why it's difficult and time-consuming. It's often used for short-term forecasts as it requires a high level of detail about specific transactions. It typically involves an analysis of cash receipts from customers and cash paid to suppliers and employees. The direct method requires a significant amount of data, but it tends to be more accurate in the short term. Indirect method starts with net income and then adds or subtracts items to adjust for non-cash transactions and changes in operating assets and liabilities. The indirect method is often used for longer-term forecasting because it is less detail-oriented and relies more on trend analysis than specific transaction data. It's often easier and quicker to compile than a direct forecast but might be less accurate in the short term. Large companies often prefer it. Aligning the indirect method used by financial planning and analysis (FP&A) for budgeting operational and free cash flow, with the direct method traditionally used by treasury, treasury can better guide leadership and the board on cash flow performance, risks, and opportunities. How to Build a Cash Flow Forecast in Your Business Organizations can implement cash forecasting by following some straightforward steps. Step 1: Assess Current State The first step is to assess the current state of your organization’s cash. Assessing the current state will help you identify areas of risk and opportunity as well as develop a plan of action for improving cash flow. Key areas to assess include cash balance, cash flow, bank fees, and liquidity. Step 2: Establish Cash Flow Goals The next step is to establish objectives for your organization’s cash flow, including setting specific goals that are in line with your organization’s mission and objectives. These goals should be measurable and achievable with the resources available to you to ensure that your cash forecasting efforts are in line with your overall strategy. Step 3: Design Cash Forecasting Process Once you have assessed your current state and established your goals, you can begin to design your cash forecasting process. Designing the process includes identifying the data sources, the tools and methods used, and the metrics you will use to measure success. This process should be tailored to the specific needs of your organization and should be regularly reviewed and adjusted as needed. Common Cash Forecasting Mistakes to Avoid Without accurate forecasting, companies are unable to assess financial performance, identify areas of opportunity, or manage risk. Poor forecasting can result in: Ineffective cash management Inadequate liquidity Lack of capital Increased debt Some of the most common forecasting mistakes include: Overestimating Future Sales: One of the most common forecasting mistakes is overestimating future sales. This misstep occurs when the forecast is based on an overly optimistic and unrealistic expectation of sales, leaving the business with a cash flow shortfall. Tips: Businesses should focus on realistic sales targets and be aware of any unique factors that may affect sales, such as changes in the market or customer base. Not Taking Seasonality into Account: It is important to consider seasonality when forecasting cash flow. Many businesses have periods of high and low sales during the year and must be prepared for these fluctuations. Tips: Businesses should monitor past sales trends and plan accordingly. Businesses should also be aware of any external factors that could affect sales, such as social, economic, and political conditions. Ignoring Cash Reserves: It is the mistake of taking into account the amount of cash a company has set aside for emergencies or other purposes, which can lead to inaccurate forecasting. Tips: Businesses should always have an adequate amount of cash reserves to cover any unexpected costs or economic downturns. Companies should also review their forecasts on a regular basis to ensure that cash reserves are up-to-date and adequate for their needs. What Is an Example of a Cash Flow Forecast? 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. Cenveo chose the Kyriba Enterprise Liquidity Management platform to improve visibility into overall liquidity and provide management on-demand insights into the performance of their strategic liquidity objectives and Cenveo achieved outstanding business results, seeing 93% forecast accuracy and 90% productivity improvements. According to a Kyriba Value Realization Assessment (VRA) assessment, Cenveo saw the following improvements post Kyriba deployment, 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 Role of Technology in Cash Flow Forecasting Technology has revolutionized cash forecasting, giving businesses access to powerful and precise insights into their cash flow and liquidity. With automated data gathering and advanced analytics and automated workflows, businesses are now able to quickly and accurately forecast their cash position, identify areas of risk, and manage their liquidity with confidence. The potential for cash flow forecasting technology is vast and rapidly expanding. With new technologies such as artificial intelligence (AI) and machine learning (ML), businesses will have access to more powerful insights into their cash flow and more precise forecasting capabilities. With Kyriba’s advanced solutions, businesses can make more informed decisions, accurately forecast cash positions, and ensure their financial goals are met. Kyriba enables businesses to gain more control over their cash flow with advanced analytics and real-time visibility.

Application Programming Interface (API) is an interface provided by one application for other application(s) to communicate with it. APIs in treasury management software connect different systems to share cash data or execute cash management...

Application Programming Interface (API) is an interface provided by one application for other application(s) to communicate with it. APIs in treasury management software connect different systems to share cash data or execute cash management and payments workflows automatically and in real time. Despite the fact that APIs are relatively new to treasury and corporate banking, they are already everywhere in our daily life, especially for web and mobile applications. An illustrative example is the ubiquitous Google Maps, which is embedded in almost every location-based service we use, such as local taxi services, food delivery, and hotel booking apps. Underneath every inquiry is an API call to the Google Maps database, from which location related information is picked up and presented to the user instantaneously. Many financial apps have also used APIs to offer seamless data integration with other tools. For example, the popular budget and expense tracking app Mint allows app users to connect to their banks via API and then automatically syncs the data across the accounts to provide a consolidated view on their latest financials. What Is the Difference Between FTP and API Connectivity? In today’s enterprise IT landscape, FTP, or File Transfer Protocol, is still the most commonly used connectivity option for data to be transferred between systems. Most often SFTP, or Secure File Transfer Protocol, is used, which means there is a layer of security to the FTP process. As both names suggest, (S)FTP is a file based transfer protocol, and it is also known as ‘batch transfer’ in treasury and payments. It works like a file package delivery service, where many files containing required data are packaged and sent directly from one system to be received or picked up by another system. For big data packages that cannot be sent as attachments in emails, FTP is very useful. But the downside is that it takes time for the packages to be delivered to the destination, because it is a step-by-step transfer process across the different systems, as files have to be selected and downloaded and further transferred at every step of the process. If it takes 5-10 minutes for each step, it will take a long time for a data package to go from one system to its final destination. Then it will take the same amount of time for any acknowledgement of information to travel back to the starting point. The downside of FTP is exactly the reason why API has attracted so much interest recently in corporate banking, treasury management, and payments processing, because it enables instant data exchange between systems simultaneously, in a secure way. When connected via an API, two (or more) systems can exchange any amount of data directly in real-time. There is no longer the need for any file packaging and transfer. What’s more, data can be made available via API to any number of systems at the same time, just like the Google Maps and the Mint app examples mentioned above, making it possible to have data available on-demand. What Are Banking APIs? In the context of banking APIs, the code in APIs facilitates communication between financial institutions and external companies. In general, there are three types of banking APIs. Private APIs, or closed APIs, are internal APIs belonging to a bank or financial institution They are used to share information within a closed ecosystem. Partner APIs can be used only by partners of the bank or financial institution. Public APIs are more commonly known as open banking APIs. Public APIs are available for third parties to use, without requiring any type of partnership. Since access rights are usually limited, open banking APIs are typically considered secure. Three Common Types of Banking APIs OPENNESS MAIN USE CASE INNOVATIVENESS Private APIs Closed system for own use Process automation and system integration In-house innovation Partner APIs For partnered access only Seamless customer experience with partner apps Innovate with agreed/selected external service providers Public APIs An open ecosystem Open banking and embedded finance Open innovation Banking APIs enable companies to include financial services with their products, for example: Digital wallets that securely store credit card information can also be used by an API to send encrypted data when the receiving customer or business asks for payment. Invoice factoring, where APIs can be used to prepay funds by 30, 60, or 90 days Insurance disbursements can be paid quickly via APIs, with no need to wait for a physical payment These banking APIs facilitate efficient and secure communication and data-sharing among multiple entities, applications, and services. Overall, the use of different types of banking APIs can help financial institutions improve their operations, enhance customer experiences, and drive innovation. What Are Premium APIs? Premium APIs, a type of private API, are APIs that banks sell directly to their corporate customers. This type of API provides customers direct access to bank data that the bank customers can then incorporate into their underlying processes, including treasury, finance, and ERP systems. Unlike open banking APIs, premium APIs in treasury are not regulated anywhere, giving banks the opportunity to monetize the significant amounts of data that the regulations do not cover. The purchasers of the data can then use it to create new and existing products. Fast, accurate information is key to decision-making and premium APIs help provide a comprehensive view by bringing together vast amounts of data from disparate areas and feeding it into one source. Potential use cases for premium APIs include: Real-time foreign exchange feeds and data for analysis, trades, and currency hedging Tax APIs, including compliance and auditing Property value calculations based on trends and local data Credit and lending data, such as credit scores and deposit balances Financial planning and budgeting for corporates and individuals Corporations will continue to identify use cases that will let banks develop, release, and monetize premium APIs, driving innovation, bringing opportunities, and providing a competitive advantage. What Are the Benefits of Using APIs for Treasury Management? The use of APIs in treasury management can bring us many benefits, mainly around convenience, efficiency, security, and instancy. For treasury, it can improve the experience in all treasury functions such as bank connectivity, payments, cash reporting, and forecasting. Convenience: consolidating information from different systems means comprehensive updates and reporting without the need to log into different banking portals. Efficiency: no more wait time for file exchange. On-request payments and real-time reconciliation minimize manual errors and improve operational efficiency, with the ability to quickly share data with stakeholders across the company. Security: security risks are lowered, with no files to tamper with and internet security protocols in place. Real-time updates mean fraudulent activities can be captured promptly. Instancy: real-time data feeds provide instant updates on foreign exchange rates, bank transactions, trades, valuations, and payments. This means your cash position is always up to date, allowing for data-driven decisions. Use Cases of APIs in Treasury Banks have increasingly adopted APIs to offer better experiences for their customers. But APIs have potential for use cases far beyond bank connections. For corporate treasury and finance, APIs have nearly limitless potential. A recent study by research firm IDC identified that 90% of finance leaders have already implemented or expect to incorporate APIs within their financial technology stack. API for Bank Data consolidation Clients who connect via APIs to their banks can truly get real-time visibility into their account balances, transaction status, or other banking data. When such data is aggregated across different banks, your cash and banking information can be presented in one dashboard, for example in your treasury management system or other cash forecasting software, enabling you to take further actions based on timely and accurate data sets. API for Real-time Payments This is probably the most well-known use case for banking APIs in treasury. It is a payment type where the transmission of the payment message and the availability of “final” funds to the payee occur in real time or near-real time. Many banks already support real-time payments with their APIs, such as CashPro by BoA, CITI, and JPMC. You can find more details from the Kyriba developer portal, and more banks are being added regularly. API for ERP-to-Bank Integration Kyriba has developed API connectors to SAP, Oracle, Microsoft Dynamics, and other major ERP providers to provide real-time data flows and instant updates, like changes in payment status, to the connected ERPs. With such connectors, you can integrate your TMS workflows with your ERPs, including cash forecasting, payment initiation, payment confirmations, and GL reconciliation. API for Embedded Treasury With APIs in treasury, it is now possible to embed financial and banking data into any corporate process whenever and whenever needed, enabling great data accessibility and supporting data-based decision making. This is what is called ‘Embedded Treasury’. This is a game-changing development for treasurers, who can now access and share real-time financial data at any time and make data-based decisions more quickly and accurately, increasing treasury's advisory value to the C-suite. Example of Integrating APIs into Treasury Processes Kyriba client Hunt Companies is an early adopter of APIs. They use the Kyriba bank connector to J.P.Morgan’s bank API for real-time payments and have replaced all qualifying wire payments with RTP®, reducing 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. On top of payments, Hunt Companies have also adopted the API integration between ICD and Kyriba to obtain up-to-date account data, fund availability, and market data, with which the organization is able to make informed investment decisions.

This eBook explores the use cases for AI in treasury management and corporate finance, as well as the barriers preventing mass adoption of the technology. These technologies are applicable in cash and liquidity management,...

This eBook explores the use cases for AI in treasury management and corporate finance, as well as the barriers preventing mass adoption of the technology. These technologies are applicable in cash and liquidity management, payments fraud detection, documentation of treasury processes, and more. AI/ML Today While artificial intelligence (AI) and machine learning (ML) have gradually worked their way into everyday life in treasury and finance, but we’ve only scratched the surface of their potential. It’s important to understand that AI and ML are not technically the same thing. While the terms are often used interchangeably, they are two distinct technologies. AI is a broader term denoting intelligent machines that can simulate human thinking capability and behavior. ML, in contrast, is an application or subset of AI that enables machines to learn from data without additional programming.1 What makes AI so powerful now, as opposed to just a few years ago? The simple answer is data. We have so much more now than ever before. Both companies and consumers are using a host of applications that generate mass amounts of data, and with the right systems in place, that data can be transformed for better decision-making. Data scientists train AI models on historical data. Next, they run new data through the trained AI model to make much more informed predictions. Such models are incredibly useful for treasury and finance, which have had to make rapid adjustments in recent years to keep organizations running. Applying AI in Treasury Management and Finance With applications proliferating across so many areas, as well as the connectivity that banks and technology providers are building through APIs, treasury and finance departments have more data at their fingertips than ever before. But processing all of that data manually is nearly impossible. That’s where AI comes in. Technology providers train AI models on data that is extracted from operational applications and placed in a central repository. These can vary and have different advantages. Data warehouses store data in hierarchal dimensions and tables. Data lakes, in contrast, store massive amounts of raw data, storing it in flat architectures to allow users more freedom for data management.2 Unlike robotic process automation, which can only replicate processes, AI models can analyze data and identify trends and patterns in a fraction of the time that humans can.3 This allows for much faster and complete conversion of raw data into meaningful information that treasury and finance departments can use. AI models can be used for various treasury functions such as cash forecasting, payments fraud detection, and working capital optimization. For example, AI can drastically improve receivables management. As noted in a recent AFP Treasury in Practice Guide, a technology company’s accounts receivable (AR) team was struggling to manually process over 2,500 monthly checks, leading to major delays. Realizing that it needed to make a change, the AR team worked with its banking partners to implement an machine learning-enabled receivables solution. The solution automated the manual gathering, consolidation and formatting process that the AR team had been doing every morning, allowing most payments to process within two days. Furthermore, over time, the machine continues to learn from exceptions, improving accuracy. It has also provided the AR team with more opportunities to increase electronic payments adoption. How Machine Learning Works for Treasury Payments Fraud Detection Modern payments fraud detection software uses AI to screen payments against historical payment data pulled from a data source. All the characteristics of payments—the payment amounts, payment types, the number of payments, where they’re going, etc.—reside within that data source. A machine then analyzes that data, which enables it to identify anomalies in future activity. A number of different models can be used to pinpoint those anomalies. One of the most effective is an isolation forest methodology. This model compares all the different variables in the data source against new payments to determine the normality of those payments. Any payment that has an unusually high abnormality rank is flagged and set aside for further review. Machine learning solutions can even show users that variable comparison, providing them with insights into how that normality/abnormality rank is calculated. Users can even set their own levels for abnormality tolerance. Companies that work in industries that are high targets for fraudulent activity might want a very low abnormality tolerance, whereas organizations that are less at risk might want to set it much higher so that minor anomalies won’t disrupt payment activity. Additionally, workflows can be embedded to swiftly resolve anomalies. Real-Time Screening, Alerts and Notifications The rise of same-day and real-time payment systems has increased the need for real-time responses to fraud attempts. Modern fraud detection software uses AI/ML to screen payments against historical payment data, pinpointing any anomalies. By providing more complete data, these solutions enable data-driven decision-making. Solutions can flag any abnormal payments, providing insights into the variables that determine payment normality. Generative Adversarial Networks The lack of data around fraud can be a problem for AI models. Training AI models can thus be challenging because the algorithms often can only learn from good payments and, at best, a handful of bad ones. Generative adversarial networks (GANs) can solve this problem. GANs are deep learning models that pit two separate neural networks against each other. One network mixes real data and synthetic data together and attempts to outwit the opposing network. By training fraud detection models on these competing networks, fraudulent transactions can be more easily identified in real data. Cash Forecasting Manual processes persist in treasury, even with the advent and evolution of technologies like AI. Many treasury departments continue to rely on Excel, even though it can produce highly inaccurate cash flow forecasts that can negatively impact the business. Organizations can increase the accuracy of their short-term cash forecasting with AI-based tools that learn from the history of cash flows and continuously improve inflow projections over time. With deeper analysis of this data, organizations can better predict cash flows by season or region, which in turn reduces efforts for key functions like accounts payable by, anticipating free cash flow closing, and adjusting the payment campaign budget. AI/ML users also can select what companies, currencies and cash flow types to include, as well as adjust the forecasting period to align on short-term payment/funding/investment decisions. With interest rates increasing, treasury teams can optimize liquidity by reducing their maximum idle cash while also minimizing the risk and cost of overdraft. Treasury will be able to determine how much of its budget it can allocate towards certain expenditures over a period of time, or whether it will need to borrow funds to make certain payments. AI tools can factor in multiple variables and errors found in historical data to better estimate cash inflows and outflows over the next seven days. This allows treasury to determine how much of its budget it can allocate towards certain expenditures over that time period, or whether it will need to borrow funds to make certain payments. Soon, as these tools accumulate more data, they will be able to make predictions on mid- and long-term horizons. Check out Kyriba's latest AI-powered cash forecasting module: Cash Management AI to see how AI in treasury management can already be used fluently for short-term cash forecasting. ChatGPT and Generative AI in Treasury Management ChatGPT has become a popular generative AI app, in part because of a $10 billion partnership with Microsoft. ChatGPT is well known for its natural language processing chatbot abilities that answer any question. Yet the real opportunity for ChatGPT and generative AI is to change the way we interact with online software applications, including online search and business applications like ERP and treasury management systems (TMS). ChatGPT can also be used within a TMS where the user gives instructions to the system using keywords or questions. With a user experience (UX) that has been optimized for natural language processing, the TMS can respond to basic queries such as “What is my exposure to the Yen?” or more complex requests, including “What caused the variance in my forecast last week?”. Treasury may also find this technology to be useful in documenting treasury processes and procedures. Documentation and how-to manuals take time and effort to compile. Fortunately, ChatGPT and similar generative AI models can do all the writing for you after being fed a minimum amount of information. Take Action The demands of today, and tomorrow, dictate that CFOs and treasurers must act. While pervasive economic hardships and rising global inflation may make it difficult for companies to justify spending on new technology, they are facing massive challenges if they don’t adjust to the pace of the modern business world. Rest assured; if your peers aren’t investing in this technology yet, they will be soon. Many companies have also stockpiled their cash reserves throughout the pandemic — now is the time to begin spending some of that cash on tech enablers, one good area to look into being AI in treasury management. Treasury teams would be wise to look for a trusted partner as they explore possible use cases of AI in treasury management. There are technology providers with teams of data experts and portfolios of treasury apps available. Many tools are already in production and require minimal effort on the part of the company. As we emerge from the pandemic—a time when companies were focused primarily on survival—the focus now needs to be on growth. As more data becomes available, growth will come from those organizations that are able to harness that data and turn it into useful applications. Others will drown in it and fall behind. With AI in treasury management to assist the human, treasury teams can ensure that they are positioning their organizations for success. Related Resources Javapoint: Difference Between Artificial Intelligence and Machine Learning TechTarget: Data Lake AFP: Identifying Value for Treasury: Automation, Machine Learning & Artificial Intelligence PYMNTS Intelligence: How Payments Automation and Digitization Can Reduce Errors and Streamline Transactions Gartner: Success With AP Invoice Automation Requires More Than Paper to Digital ERP News: Automation for Business Intelligence Kyriba: 15-Minute Guide to Payment Hubs Want to see how AI in treasury management improves cash forecasting? Join Kyriba's upcoming monthly live demo sessions. An on-demand demo session is available here.

A Treasury Management System (TMS) is a software application that allows companies to process cash flow, manage banking relationships and enhance the value of their cash flow. A Treasury Management System can help companies...

A Treasury Management System (TMS) is a software application that allows companies to process cash flow, manage banking relationships and enhance the value of their cash flow. A Treasury Management System can help companies manage their assets, liabilities and bank accounts through automation and integration with third-party applications. A TMS provides real-time visibility into cash positions, enables better decision-making, and improves overall operational efficiency. The system includes a range of features and functionalities, including cash and liquidity management, risk management, and payment processing. Understanding Treasury Management Systems Treasury management is the process of managing an organization's liquidity, money market instruments, banking, concentration and disbursement activities. The goal of treasury management is to constantly monitor cash inflows and outflows in order to optimize the company's liquidity position. This includes managing all the financial risks associated with running a business. Treasury management also plays an important role in financial planning: If you want to know when your business will be profitable or how much debt or equity funding is needed for expansion plans over the next few years, having accurate projections about your company's financial health is essential. Treasury management is especially important for large organizations that need to ensure they are never short on cash but also don't have too much cash available at any time. Examples of these organizations include: Banks and other financial institutions Governments Major corporations A treasury management system is a powerful tool for organizations looking to streamline their treasury operations, manage financial risk, and improve cash management. By providing real-time visibility into cash positions, automating routine processes, and providing tools for managing financial risk, a TMS enables treasurers to make informed decisions and drive business growth. While implementation of a TMS requires significant investment, the benefits of improved operational efficiency, reduced financial risk, and improved compliance can be significant, making it a valuable investment for any organization. It is also important to understand the risks of not adopting a TMS. Advantages of a Treasury Management System A treasury management system automates and streamline the financial activities of companies. They automate tasks, like payments and invoicing, which can be time-consuming and require multiple people to complete. A treasury system can be used for both domestic and international payments and can handle multiple currencies. For example, if your business imports products from overseas suppliers or exports goods to other countries, then having a TMS in place can help you manage the different currencies involved in those transactions correctly. A treasury system also provides real-time reporting of financial data. It allows you to create customizable reports to meet your specific needs. A treasury software provides tools for managing financial risk, including foreign exchange risk, interest rate risk, and credit risk and helps organizations achieve regulatory compliance and improve their relationships with stakeholders, such as lenders, investors, and suppliers. Why Do You Need a Treasury Management System? First of all, a treasury management system provides improved efficiency. Automated payments save time and reduce errors by eliminating manual data entry, as well as automating reconciliation processes for accounts payable systems. Also, automated inventory tracking allows businesses to keep track of their current stock levels without having an employee manually update them every day or week. This means fewer errors on orders. Secondly, a good system will provide real-time information about everything from cash balances down through individual purchase orders, so companies know exactly where all their money goes—and when it comes back into play again. Thirdly, it is an important tool for achieving regulatory compliance. Many countries have stringent regulations around treasury operations, including cash management and payment processing. A treasury system can help organizations comply with these regulations, reducing the risk of fines and reputational damage. How a Treasury Management System Works A treasury system is a comprehensive solution that automates and streamlines the financial processes of a business. It works by aggregating data from multiple sources, including bank accounts, payments and investment portfolios, providing a complete and accurate picture of a company's cash position. This information enables treasurers to make informed decisions about cash management and investment strategies, reducing the risk of cash shortfalls and minimizing borrowing costs. It also provides tools for managing financial risk, including foreign exchange risk, interest rate risk, and credit risk. The system enables treasurers to monitor and manage these risks in real-time, providing a comprehensive view of the organization's risk exposure and enabling proactive risk management strategies. A treasury system usually includes different modules, each focusing on an important aspect of your finances: Cash Management: A TMS tracks incoming and outgoing payments, including those made through ACH transfers. The system ensures that funds are available when they're needed by monitoring the company's accounts receivable and payable balances as well as its bank balances. Cash Forecasting: A TMS helps identify trends so treasury can adjust budgets accordingly in order to meet goals without encountering unexpected costs along the way. Risk Management: A TMS provides a comprehensive solution for identifying, assessing, and managing financial risk, including advanced analytics and reporting capabilities. Liquidity Management: A TMS monitors cash flow on an ongoing basis, allowing organizations to plan ahead for future expenses like payroll or vendor payments in order to avoid overdrafts at the bank or costly loan fees from third parties like credit card companies or payday lenders. Choosing the Right Treasury Management System Choosing a treasury system is a multi-step process. Cost is always a factor, and can vary greatly depending on your organization’s desired functionality. That’s why it’s important to: Evaluate your needs. Convincing the CFO to approve the adoption of a TMS almost always requires the treasurer to carefully build a strong business case. But treasurers can have greater success if they know how to position a treasury solution as a necessity. Decide which features are most important to you, and then look at the available options from different providers. You can compare different solutions based on those criteria, then choose one that works for your business today and into the future. Implement a TMS that will work for years to come by meeting all of your current requirements while also allowing room for growth as needed over time. Other Capabilities of Treasury Software Treasury management largely encompasses cash management, bank account management and financial transactions. Treasury management systems provide CFOs and treasurers with the visibility and reporting needed to optimize cash, control bank accounts, manage liquidity, deliver compliance, and oversee investments, debt and intercompany loans. Cash Pooling and In-house Banking: Organizations can easily manage notional and physical cash pools to offer real-time intercompany positions, interest calculations and reporting. Multilateral Netting: Treasury management systems help calculate net payables and receivables positions by participant, delivering optimized exposure management and integration with in-house banks. Bank Relationship Management: Bank account management, signatory tracking, FBAR reporting, and bank fee analysis enable improved control of bank accounts and better transparency into bank fees. Financial Transactions: Industry-best treasury management systems fully track treasury financial transactions with complete integration to payments, accounting and cash forecasting modules. Accounting and Compliance: Automatic generation of journal entries, support of all ERP solutions for automated integration with the general ledger (GL) and GL reconciliation makes it easy to comply with industry and internal regulations. Essential Treasury Software Treasury and risk management applications are essential tools for any business looking to increase cash flow and reduce costs. By automating your financial processes, they allow organizations to save time while becoming more efficient and secure. Usually evaluating the return on investment for a treasury transformation project is a complex undertaking that goes far beyond evaluating productivity savings versus the cost of the solution. Companies need to ensure that they consider all potential value components of a treasury project and its impact across the entire organization to ensure that a full value assessment is included in the decision-making process. With such intricacies and value components that are often neglected, many treasury teams look for outside guidance in calculating the potential ROI of such projects in order to ensure that they are comprehensive in their evaluations. Road to Treasury Transformation There are many different paths companies can take to achieve treasury transformation. You can start with process standardization, or payments transformation, or simply reduction of bank fees. Below are three great examples from Kyriba's client community. Kyriba client Beam Suntory chose to modernize their operations in a decentralized environment. They worked with Kyriba to future proof cash and liquidity management to protect their future growth. The interconnected ERP, TMS and Payments systems ensures business continuity, visibility and confidence in liquidity optimization. Kyriba client Lowe’s has an extremely large bank account environment with over 2000 bank accounts at 33 banks. With Kyriba’s Bank Fee Analysis, Lowe’s is able to pull reports on a macro scale to immediately identify any outliers by comparing services across banks and drilling down to a micro-level for any out-of-policy store activity. Kyriba client Align Technology built an FX Hedging Program in alignment with senior management’s goals by integrating Kyriba FX with SAP ERP and implementing Data Integrity Analysis to validate exposure and identify inconsistencies.

La liquidità aziendale come motore di crescita e creazione di valore. Kyriba è la piattaforma leader globale per visualizzare, proteggere, trasferire e accrescere la liquidità aziendale. Kyriba offre soluzioni per la tesoreria e il...

La liquidità aziendale come motore di crescita e creazione di valore. Kyriba è la piattaforma leader globale per visualizzare, proteggere, trasferire e accrescere la liquidità aziendale. Kyriba offre soluzioni per la tesoreria e il rischio, la connettività, i pagamenti e il capitale circolante, garantendo visibilità, controlli, produttività e processi decisionali basati sui dati per i CFO e i loro team. Grazie alla nostra piattaforma API aperta, le organizzazioni finanziarie hanno accesso a nuovi prodotti e servizi e all’integrazione a livello aziendale da e verso banche, ERP, sistemi di terze parti e set di dati interni.

L'analisi della liquidità (Liquidity Analytics) di Kyriba fa parte della piattaforma completa di reporting basata su SaaS, Kyriba Analytics, la quale offre ai CFO e alla tesoreria la possibilità di identificare la cassa integrata...

L'analisi della liquidità (Liquidity Analytics) di Kyriba fa parte della piattaforma completa di reporting basata su SaaS, Kyriba Analytics, la quale offre ai CFO e alla tesoreria la possibilità di identificare la cassa integrata a livello aziendale, insieme ai dati sul debito e sugli investimenti, presentati con una visualizzazione e un'analisi superiori. La gestione della liquidità di tutta l'organizzazione diventa più strategica, profonda e veloce, grazie all'ultima offerta di Kyriba Analytics: Analisi della posizione finanziaria netta Per ottenere una comprensione completa della posizione finanziaria di un'azienda, è essenziale analizzare la variazione del debito netto nel tempo. Questa analisi può fornire indicazioni su come è cambiata la liquidità dell'azienda in un determinato periodo e se questi cambiamenti devono destare preoccupazione. L'esame dei prestiti intersocietari tra le società controllate come parte del debito netto consente di analizzare il ruolo della liquidità interna per il gruppo. La suddivisione per valuta aumenta la visibilità delle esposizioni Forex associate prima della copertura. Al fine di contrastare i ritardi nel reporting che si verificano tipicamente con strumenti non integrati e basati su fogli di calcolo, la soluzione di Kyriba riunisce i dati di tesoreria e i registri delle transazioni finanziarie infragiornaliere per calcolare la posizione debitoria netta. Grazie all'utilizzo di queste risorse, Liquidity Analytics offre un quadro aggiornato della situazione finanziaria dell'organizzazione, consentendo al CFO di prendere decisioni informate e di intraprendere azioni appropriate per gestire e ridurre i rischi finanziari. Costruzione di un solido piano finanziario Liquidity Analytics consente di ottimizzare il finanziamento dall'evoluzione pianificata del capitale circolante e delle spese in conto capitale. La capacità di prevedere le esigenze di finanziamento dell'azienda in relazione alle sue risorse finanziarie aumenta l'efficacia della pianificazione e della gestione delle operazioni finanziarie dell'azienda. In un contesto economico caratterizzato dall'incertezza, è indispensabile che il CFO elabori piani di emergenza che tengano conto di vari scenari aziendali, sia quelli che anticipano la crescita sia quelli che difendono dalle flessioni. Liquidity Analytics consente di effettuare stress test sui flussi di cassa in entrata e in uscita, convalidando così la solidità del piano finanziario rispetto alla pressione di un mercato volatile. Grazie a questo strumento, il CFO può garantire che il piano finanziario dell'azienda sia resiliente e in grado di resistere a una serie di potenziali scenari economici. Controllo della liquidità I coefficienti di liquidità svolgono un ruolo cruciale nel determinare il rating creditizio di un'azienda e, di conseguenza, il suo costo del debito. Liquidity Analytics fornisce sia le variazioni storiche della liquidità sia la sua evoluzione futura prevista dalla pianificazione finanziaria. L'analisi comprende non solo la cassa e l'equivalente in contanti, ma anche le linee di credito impegnate. Lo strumento può anche contribuire a mitigare il rischio creditizio esercitando un controllo sull'allocazione del portafoglio di liquidità tra le banche, evitando così una potenziale concentrazione di fondi. Poiché assicura che il portafoglio di liquidità sia diversificato e non concentrato in un unico istituto, questa soluzione aiuta a ridurre il rischio di dipendere eccessivamente da una sola banca, contribuendo così alla stabilità finanziaria dell'azienda. Analisi della struttura del portafoglio dei debiti Analisi della struttura del portafoglio dei debiti L'analisi e l'ottimizzazione del portafoglio dei debiti nel tempo sono fondamentali per ridurre al minimo le spese per interessi. Liquidity Analytics amplia l'efficienza del CFO nel calcolare e prevedere l'esposizione alla volatilità dei tassi di interesse. L'analisi What-if sui tassi di interesse futuri, combinata con lo stress test sulla liquidità, fornisce una stima del costo del piano finanziario per ogni scenario. Questa analisi aiuta il CFO a prendere decisioni informate sulle operazioni finanziarie dell'azienda e a garantire che il costo del debito sia ridotto al minimo nel lungo termine. Piattaforma di reporting Kyriba Analytics per CFO e tesorieri Analisi della liquidità Qual è il mio debito netto e la mia liquidità? Come e quando è meglio estinguere il mio debito? Quanti "giorni di sopravvivenza" ho a disposizione? Analisi del Cash Ho abbastanza denaro liquido? Le previsioni sul mio denaro liquido sono affidabili? Qual è la mia attività con le banche? Analisi dei pagamenti Dove si concentra il mio maggiore flusso di pagamenti? Stiamo inviando troppi bonifici? Quali utenti eseguono i pagamenti e chi li approva? Analisi del rischio Quanto è disponibile sulle mie linee di credito? Qual è il mio profilo di prestito? Qual è il valore dei miei beni finanziari? Analisi SCF (Supply Chain Finance) Qual è il tasso di partecipazione dei fornitori? Quanti documenti sono stati caricati? Quali fatture sono finanziate? Analisi della conformità normativa Chi sono gli utenti e dove si trovano? A quali moduli possono accedere con quali diritti? A quali dati possono accedere?

Liquidity planning is an evolution of traditional cash forecasting surrounding the cash forecast with data which supports better-informed liquidity decisions. Liquidity planning makes the forecast actionable by connecting the outcome of cash forecasting—how much...

Liquidity planning is an evolution of traditional cash forecasting surrounding the cash forecast with data which supports better-informed liquidity decisions. Liquidity planning makes the forecast actionable by connecting the outcome of cash forecasting—how much cash the organization expects to have—with information about the levers the CFO and treasurer can pull to meet cash flow targets and mobilize cash. Treasury and the CFOs are often under immense pressure to provide the entire organization with the right level of operating capital (working capital), to meet the critical wide range of financial obligations in the most cost-effective way. Liquidity Planning expands beyond cash and liquidity management, delivering the ability to manage available funds from different sources across varying timelines to fund current operations and future obligations. Typical levers may include investment, borrowing, credit facilities, and aspects of the cash conversion cycle. Liquidity planning data tells finance teams where sources of cash are so that they can execute decisions rapidly, enterprise wide. Challenges of Liquidity Planning for CFOs CFOs and finance teams are severely constrained when it comes to liquidity and tight management of available cash flows at any time, particularly in volatile environments when inflation is high and the borrowing rates are increasing rapidly. Today’s CFO needs to move beyond inconsistent visibility into longer-term flows and be capable of making accurate strategic decisions. The following are some of the key challenges that CFOs face in liquidity planning: Managing volatility: One of the biggest challenges for CFOs is managing the volatility of the markets, which can have a significant impact on liquidity planning. For instance, a sudden market downturn or interruption (such as the recent SVB crisis) or an unexpected geopolitical event can result in a significant decrease in cash flow, forcing the CFO to quickly adjust their liquidity plan. Rising interest rates: Another challenge for CFOs is the increasing borrowing rates, which can impact liquidity planning. As interest rates rise, the cost of borrowing increases, making it more difficult for companies to access the funds they need to maintain adequate liquidity. This can be particularly challenging for companies that are highly leveraged or have a large amount of debt. Inflation: CFOs must also navigate the effects of inflation, which can impact both the cost of goods and services and the value of assets. This can make it more difficult to accurately forecast cash flows and plan for the future. Regulatory compliance: CFOs must ensure that they are in compliance with all relevant regulations, including those related to liquidity planning. This can include requirements for maintaining adequate reserves or complying with specific reporting requirements. Uncertainty in the global economy: With ongoing geopolitical tensions and economic uncertainty in many parts of the world, CFOs must be prepared to quickly adjust their liquidity planning strategies in response to changing market conditions. Technological disruption: The rise of new technologies and digital platforms is also changing the landscape for liquidity planning. CFOs must be able to navigate the complexity of these new tools and platforms, while also ensuring that their company's financial data is secure. For example, the recent trend towards sustainability and ESG (environmental, social, and governance) investing, which has led to increased scrutiny of companies' financial practices and may impact their access to capital in the future. How to Measure the Impact of Liquidity Planning Most impacts to, and from, working capital are measured through metrics that include weighted average cost of capital (WACC), cash conversion cycle (CCC) and various debt metrics like interest expense, return on debt, etc. Weighted average cost of capital (WACC) represents a firm’s average after-tax cost of capital from all sources. WACC is calculated by multiplying the cost of each capital source (debt and equity) by its relevant weight by market value, then adding the products together to determine the total. The cash conversion cycle (CCC) is a metric that expresses the time (measured in days) that it takes for a company to convert its investments in inventory and other resources into cash flows from sales. The average interest rate can be hedged against interest rate volatility with fixed rate loans and interest rate derivatives The average borrowing spread can be secured with long-term debt and reduced with buyer invoices and inventory guarantees The average treasury spread can be enhanced by reducing opportunity cost on cash and maximizing return on short-term investments What Impacts the Timeline of Liquidity Management When cash forecasting timelines extend beyond 90 or 120 days, the visibility and accuracy of forecasts begin to diminish significantly, and companies are often required to invest for shorter tenors or commit to more debt capacity than really needed. These pressures begin to increase when strategic decisions are limited or rely on debt or the sale of assets to supply the funds required for expansion or M&A activity, for example. More and more, companies are relying upon technology to increase the available sources of liquidity information and make the task of aggregating and analyzing information from those sources more granular, accurate and meaningful. Another attribute of a leading system is the ability to continuously improve your forecasting processes through benchmarking and comparing plan to actuals or budget to actuals. Key Features of a Liquidity Planning Solution Effective liquidity planning is critical for any business, as it helps to ensure that there is enough cash available to meet financial obligations and invest in growth opportunities. To support this, there are several key features available in modern Software-as-a-Service (SaaS) solutions that can help CFOs and finance teams make more informed decisions. One of the most important features is the ability to extend forecasting horizons. In the past, liquidity planning was often limited to short-term forecasting, which made it difficult for CFOs to make strategic decisions that would impact the company's financial health in the long run. However, with modern SaaS solutions, it is now possible to create more accurate forecasts that extend weeks, months, and even years into the future. This extended visibility allows CFOs and finance teams to plan for a variety of scenarios and make more informed decisions about how to allocate resources. Another important feature of modern SaaS solutions is their ability to aggregate and process huge amount of data sets, including cash flow projections, accounts payable and receivable, and historical performance, and provide data-driven insights into the company's financial health to help identify areas where liquidity may be at risk. This allows CFOs and finance teams to take proactive measures to address these risks, such as securing additional financing or optimizing cash management practices. Finally, modern SaaS solutions usually offer dashboards with real-time liquidity analytics to provide comprehensive view of the company's liquidity position, taking into account both current and projected cash flows, as well as existing debt and other financial obligations. By analyzing this data, CFOs and finance teams can identify areas where liquidity may be at risk and take proactive measures to address these risks. A more detailed list of key features of a liquidity planning solution includes: Flexibility and Configurability Model forecasts the way you want with as many iterations as you like, including top down or bottom-up presentations to support different types of forecasting in your organization. Formula-based Construction Include or exclude the data you want in each line item and summary total. Multiple, Parallel Forecasts Run multiple cash forecast cycles at once, designed with different data and assumptions. What-if Scenarios Model forecasts against various liquidity and risk scenarios. Excel-like Entry On-demand single click editing and copy/paste directly into the forecast. Submission and Review Workflow Collaborate with other users including notifications and comments. Variance Analysis Combine with Cash Analytics for detailed and drill-down on forecast variances. Load Data from anywhere Unify forecast data from ERP, spreadsheets, data lakes and other sources via API or file interface. AI-Enhanced Cash Flows Combine with Cash Management AI or other AI apps to include data-driven forecasts as part of your cash flow planning. What is Included in Kyriba’s Liquidity Planning Solution Kyriba’s Liquidity Planning Solution is the result of the focus on continuous innovation and product development across treasury and finance functional areas impacting liquidity management. Kyriba’s solutions help finance organizations of all sizes and industries deliver improved financial performance. The latest innovation is the Liquidity Planning and Analytics product suite, which creates a liquidity management system and solution for better working capital management and cash flow forecasting over longer horizons. Liquidity decisions are more focused and accurate with the right mix of technology and reporting, ultimately reducing the cost of liquidity availability. Kyriba’s Liquidity Solution helps treasurers find the right balance and optimal mix across varied sources of liquidity to meet obligations while keeping costs at the right level. The new user experience is easy to use, and includes features to make scenario analysis, plan comparisons and collaboration across the finance organization more actionable and insightful. With this solution Kyriba creates more confidence for the CFO and treasurer with expanded forecasting information, as well as with investment and borrowing data to make more informed liquidity decisions, making the cash forecast actionable, demonstrating the impact of investing, and borrowing decisions with real-time data and analytical insights. Kyriba’s Cash Management, Liquidity Planning and Liquidity Analytics modules give treasury teams and finance leaders in treasury, FP&A, finance, procurement and accounting the tools and interactive reporting they need to proactively manage cash and liquidity lifecycles end-to-end.

Corporate payments, or B2B payments, usually refer to the financial transactions made by a company or corporation to pay for various expenses related to its business operations. These payments may include salaries, wages, bonuses,...

Corporate payments, or B2B payments, usually refer to the financial transactions made by a company or corporation to pay for various expenses related to its business operations. These payments may include salaries, wages, bonuses, and benefits for employees, payments to suppliers and vendors for goods and services, taxes, rent or lease payments for office space or equipment, insurance premiums, and other expenses. Efficient and secure management of corporate payments is critical to the financial health of a company. Effective payment systems can help improve cash flow, reduce the risk of fraud and errors, and ensure that the company can meet its financial obligations to its employees, suppliers, and other stakeholders. What Are Some Common Types of Corporate Payments? Corporate payments usually include the following types: Treasury payments: loans, debts, investments These payments are important for the financial health and stability of a company. Loans and debts are necessary for companies to finance their operations, whether it's to purchase new equipment, expand their facilities, or pay off existing debts. Investments, on the other hand, are crucial for companies to grow their wealth and generate more revenue. By making smart investments, companies can increase their profits and expand their business operations. Supplier payments or Account Payable (AP) payments: payments a company makes to a supplier for purchased goods or services These payments are a critical component of a company's cash flow, as they ensure that suppliers are paid on time for the goods or services they provide. By making timely supplier payments, companies can build stronger relationships with their suppliers, negotiate better prices, and ensure a steady supply of the goods and services for business continuity. Tax payments: payments to tax authorities to fulfill the legal taxation obligations These payments are an essential part of a company's financial responsibilities, and failure to make them can result in significant legal and financial penalties. Tax payments can include income tax, sales tax, property tax, and other types of taxes. By making accurate and timely tax payments, companies can avoid costly penalties and maintain their legal and financial standing. Salary payments: the amount a company pays on agreed terms to its employees in exchange for job performance These payments are essential for attracting and retaining talented employees, as they provide a stable income and financial security. By making salary payments on time in the correct amount, companies can build a motivated and productive workforce, reduce turnover, and enhance their overall performance. Methods of B2B Payments Transfer B2B payments may be made through various methods, such as cash, checks, wire transfers, electronic funds transfer (EFT), credit cards, or other forms of payment.  But they are usually electronically transferred through banks. In the US and some other countries, checks are still being used, while ACH and wire payments remain the most popular methods. New B2B payments methods such as real-time payments are gaining ground globally. Recently some corporations have also started to accept crypto currency. Bank transfers can be split into domestic payments and cross-border payments. For cross-border payments, there is usually an associated foreign exchange risk. How Do Businesses Manage Their Corporate Payments? It varies company to company, but it is common that the business process owner for corporate payments is treasury under the office of the CFO. Without payments being received on time in the right amount, businesses can face late supplier deliveries or other contractual penalties which endanger all sorts of business activities. Therefore the B2B payments process (including claims and accounts payable) is considered as a business-critical process. Effective payment systems can help improve cash flow, reduce the risk of fraud and errors, and ensure that the company can meet its financial obligations to its employees, suppliers, and other stakeholders. However B2B payments processing remains inefficient in many companies, often due to the following reasons: Siloed and obsolete home-grown back-office systems: Companies may use multiple systems for different types of payments, such as separate systems for payroll, vendor payments, and expense reimbursements. This can lead to inefficiencies and a lack of visibility into overall payment processes. Manual processes with a lack of end-to-end process automation: If payments are processed manually, such as using paper checks or invoices, it can be time-consuming and prone to errors. These manual processes may require a lot of manual data entry, which can lead to typos, incorrect information, and lost documents. Legacy connectivity to banks: Payment systems may not be integrated with other systems used by the company, such as accounting or ERP systems. This can lead to duplication of efforts, manual data entry, and errors. Decentralized payment processing teams: If payment data is stored in different systems or departments, it can be difficult to get a comprehensive view of all payments being made. This can lead to inefficiencies in tracking and reconciling payments, and even worse, increased fraud risks. What Are Some Challenges with Corporate Payments? Corporate payments are traditionally challenged by their sheer volume of payment activities and manual processing inefficiency. Some of the most outstanding problems with B2B payments are: Outdated back-office payment systems requiring extensive and costly IT support Long lead time to connect to banks via bank APIs or H2H with own IT resource Unavoidable payment errors and oversights from manual processing Potential money loss from undiscovered duplicate payments Increased operational risks due to potential fraud and non-compliant payments Slowness to leverage faster payment rails (e.g., RTP®) or other nascent payment methods (e.g., Zelle) to support customers’ evolving B2B payments needs Hidden Cost of Payment Errors and Non-Compliant Payments Perhaps it is not often visible to the stakeholders in a company how much manual and analog systems can cost, or perhaps the practice has been the way it is for so long that it has just become an accepted cost of doing business. Through a step-by-step process description it is possible to demonstrate how much money businesses are losing each year in their payments processing - particularly those with cross-border activities and FX exposure. Costs can come from a few different sources and very often companies underestimate the accumulated costs that arise from these payments: Manual errors causing remitted funds to not arrive at the correct destination Duplicate payments that could be the result of a mistake or fraud Non-compliant payments that run afoul of official sanctions lists, leaving the firm open to fines and other regulatory action Our analysis finds that companies can significantly reduce the erroneous and non-compliant payments that the average business is losing by persisting with outdated processes. If only ten payments are affected each month this can result in extra annual costs of over $40,000 on average. The following flowchart shows in detail how costly a duplicated payment made by mistake can be for a given company, not to mention that in many cases these errors can be compounded as companies expand organically and by acquisition, adding layers of complexity to find out where and how such mistakes have been made.     The increasingly disparate structures produce more risk, whether FX or regulatory, and greater vulnerability to payment fraud too. Steps to standardize controls and simplify and automate processes can not only mitigate these exposures, but with more accurate information can also strengthen decision-making and lay the foundations for future growth. Below is another detailed flowchart to show how much time and money a company can lose when a foreign supplier payment fails to arrive in the payee’s account. Use of Treasury and Payment Solutions To effectively manage corporate payments, it is recommended to choose a treasury and payment solution that meets an organization's current and future business needs. One of such solutions is a payment hub, also known as a B2B payments platform or a payments processing system. Such a hub consolidates payment requests from ERPs and other payment initiating systems, transforming disaggregated and decentralized payment processes into a single source of record for all outgoing corporate payments. Corporations are changing the way they process payments. Technology, regulation, globalization of trade – all are factors driving the need for payments centralization. CFOs and treasurers worldwide recognize that fragmented and decentralized payment processes do not offer the efficiency. A cloud-based payment hub such as Kyriba’s enables global real-time access to payment data while as many users as needed can easily be onboarded. This way, the CFO and the treasury team can gain full control and visibility into the status of AP, treasury and other ad hoc payments. A payment hub can help companies streamline their corporate payments process with great efficiency, cost saving and security.. The primary benefits of centralizing payments with cloud-based payments hubs are: Visibility into outgoing cash flows Reduced payments fraud and improved operational risk management Control over payment timing Standardized procedures across all regions Increased efficiency and reduced costs Regulatory compliance.   Best Practices of Managing Corporate Payments There are many ways to design the workflows and implement the technical enablers needed to optimize your payment process. Many Kyriba clients have demonstrated successes with best practices they share with the community and their peers. For example, Cooke Aquaculture has built a robust in-house bank and a payment factory to unlock liquidity, freeing 20% of full-time employees in the financial shared service center for more strategic level work. Even more importantly, by placing focus on process standardization, Cooke has seen a result in 100% accurate and automated accounting and reconciliation from a standardized process across all entities. Another good example is from Kyriba’s client Adobe. As an organization which has 125 global users manually logging into 10+ banking portals on a daily basis to process payments and statements, the use of Kyriba’s payment hub has led to a centralized repository of 24 signers tracked and 8 bank letter templates maintained with 4 Banks connected for bank fee statement reporting and proactive fee management.

Real-time payments are a payment type where the transmission of the payment message and the availability of “final” funds to the payee occur in real time or near-real time and on as near to...

Real-time payments are a payment type where the transmission of the payment message and the availability of “final” funds to the payee occur in real time or near-real time and on as near to a 24-hour and seven-day (24/7) basis as possible. Real-time payments are designed to be as close to 24/7 as possible, meaning that payments can be made and received at any time of the day or night, seven days a week. This is a significant departure from traditional payment systems, which may have limited hours of operation and require several business days to process payments. The terms “real-time payments,” “faster payments,” and “instant payments” are often used interchangeably to describe this type of modern payment infrastructures. While there may be subtle differences in the way these terms are used, they are generally used to describe the same type of modern payment infrastructure. These payment systems are typically domestic or regional in nature, meaning that they are designed to facilitate payments within a specific country or region. However, there are efforts underway to develop cross-border real-time payment systems that would allow for the seamless transfer of funds between different countries and currencies. Source: Prime Time for Real-Time ACT Worldwide,2022 What Are the Typical Use Cases for Real-time Payments? With the world moving to a new level of instancy, every organization should understand both the value impact and the use cases for real-time payments when it comes to its own business context. There are many great examples of how companies are using instant payments, especially with large volume low value payments, to save costs and increase speed. Below are some of the use cases Kyriba clients are benefiting from: Time-sensitive payments are perfect for real-time payments, for example emergency payroll, disaster relief, and AP exception payments from industries such as distribution and logistics. Intercompany transfers are low risk and a common use case. With real-time payments, companies can efficiently deploy working capital across their subsidiaries. Instant insurance claims disbursement is a typical example of improving customer experience with real-time payments. The same also applies in the gig economy where business or service transactions can be settled immediately on the spot. Request-to-pay is also becoming more common, where suppliers embed real-time payment instructions within an email to simplify the invoicing process, either to encourage early payment or to accelerate late payments. What Are the Benefits of Adopting Real-time Payments? There are many good reasons to add real-time payments to your payment mix, mainly because of the unprecedented visibility and transparency this new payment type brings to both the payer and the payee. Some of the most outstanding benefits of using instant payments are: Improved supplier relationships: making early or on-time payments is an easy way to improve rapport between vendors and clients. With instant payments, invoices can be paid immediately and some vendors will offer discounts for early payments. Control over working capital: faster payments mean more accurate cash visibility that allows companies to unlock working capital, releasing funds for debt repayment and/or reinvestment Increased security: with full visibility of payment details including end-to-end tracking and confirmation of credit, risk of fraud decreases Improved ROI: lower bank wire fees and reduced time spent researching, correcting, and resending failed payments translate to significant cost savings for businesses Immediate settlements: with the ability to transfer payments and pay bills 24/7, payment delays are eliminated, transaction history is current, and account balances stay up-to-date Non-repudiation: because instant payments carry a digital footprint specifying the time, date, origin, and destination of each transaction, no one can dispute that a payment was sent, received, and processed. How to Enable Real-time Payments Globally there are more than 70 countries where domestic or regional instant payments are available. For example, you can find real-time payment systems in: Americas (USA, Canada, Brazil, Mexico) SEPA countries (over 25 countries supported) Asia (Singapore, Japan, Thailand, Australia, Hong Kong) In different countries and regions, instant payments might have different names too. For example: USA: RTP® by The Clearing House, FedNowSM Service by The Federal Reserve UK: Faster Payment System SEPA countries: SEPA Instant Credit Transfer (SCT Inst) Singapore: PayNow India: Immediate Payment Service (IMPS) Corporates can access real-time payments via FTP or Bank API (e.g., CashPro by BoA, CITI, JPMC), depending on which is supported by your partner banks. On top of the bank connectivity, the following payment formats all support instant payments: JSON: a lightweight data interchange format that is commonly used in web applications, and it is often used for real-time data exchange due to its simplicity and flexibility ISO 20022 XML: a messaging standard that allows for the exchange of structured financial messages between different parties, and it is used by a growing number of financial institutions and payment systems around the world. Fixed formats: standardized formats for financial messages that are used by various financial institutions and payment systems. These formats provide a consistent structure for financial messages to ensure that they are processed correctly and efficiently. CSV formats: simple text-based formats that are commonly used for storing and exchanging tabular data, such as financial transactions. They are easy to use and can be opened and edited using a wide range of software applications, making them a popular choice for organizations. What Is a Typical Payment Flow of Instant Payments? The payment flow of instant payments can vary depending on the specific payment system or infrastructure used, but there are some common elements that are typically involved. Here is a general overview of the payment flow of instant payments: Initiation: The payment process begins when the payer initiates an instant payment request, typically through an online banking portal or mobile app. The payer may need to provide information such as the recipient's name, account number, and the amount of the payment. Authorization: Once the payment request is received, the payer's bank verifies that there are sufficient funds available and authorizes the instant payment. Transmission: The payment message is then transmitted to the recipient's bank in real-time or near-real-time. This transmission may occur through a variety of channels, such as a secure messaging network or an instant payment platform. Clearing: The recipient's bank processes the payment message and ensures that the funds are available to the recipient. This may involve verifying the recipient's account details, checking for any fraud or errors, and updating account balances. Settlement: The final step in the payment flow is settlement, which involves the transfer of funds from the payer's bank to the recipient's bank. This settlement typically occurs in real-time or near-real-time, and the recipient's account is credited with the payment amount. Overall, the payment flow of instant payments is designed to be fast, efficient, and secure, with minimal delays or processing times. This makes instant payments an attractive option for businesses and individuals who need to make and receive payments quickly and reliably. The Federal Reserve explains on its website how instant payment flow works among its network participants. It represents well how instant payments work in general, with everything taking place in as quickly as just seconds. Source: FedNow “About The FedNowSM Service” In step 1, a sender (i.e., an individual or business) initiates a payment by sending a payment message to its financial institution through an end-user interface outside the FedNow Service. The sender’s financial institution is responsible for screening the payment according to its internal processes and requirements. In step 2, the sender’s financial institution submits a payment message to the FedNow Service. In step 3, the FedNow Service validates the payment message, for example, by verifying that the message meets message format specifications. In step 4, the FedNow Service sends the contents of the payment message to the receiver’s financial institution to seek confirmation that the receiver’s financial institution intends to accept the payment message. At this point, the receiver’s financial institution will have the opportunity to confirm or deny that it maintains the specified account. In step 5, the receiver’s financial institution sends a positive response to the FedNow Service, confirming that it intends to accept the payment message. Steps 4 and 5 are intended to reduce the number of misdirected payments and resulting exception cases that can occur in high-volume systems. In step 6, the FedNow Service debits and credits the designated master accounts of the sender’s and receiver’s financial institutions (or their correspondent financial institutions), respectively. In step 7, the FedNow Service sends a payment message forward to the receiver’s financial institution with an advice of credit and in parallel sends an acknowledgement to the sender’s financial institution, notifying it that settlement is complete. In step 8, the receiver’s financial institution credits the receiver’s account. As a term of the FedNow Service, the Federal Reserve Banks anticipate requiring the receiver’s financial institution to make funds available to the receiver almost immediately after step 7. This crediting to the receiver’s account as well as the debiting of the sender’s account by their respective financial institutions happens outside the FedNow Service. Source: FedNow “About The FedNowSM Service” Examples of Real-time Payments Adoption Kyriba client Hunt Companies was among the early adopters for real-time payments in the US and is a great example to demonstrate the associated benefits. The main challenges Hunt Companies faced before the use of instant payments were as follows: Significant bank fees resulting from the huge volume of payments Lack of visibility into payment status, especially the rejected payments Significant time spent by the team to research and resend failed payments With RTP® Hunt Companies has seen the following business outcome: A reduction of bank fees from $6 on average for a wire transfer to less than $1 for RTP® An impactful number of productivity hours gained per month by Hunt’s finance team In just three months, the client has seen a 375% increase in the number of payments using RTP® month-over-month Why Are Cross-Border Real-time Payments More Complex? Cross-country real-time payments are more complex and challenging than domestic real-time payments due to several factors: Regulatory Frameworks: Each country has its own regulatory framework, which can vary widely in terms of security requirements, data privacy laws, and customer protection regulations. This makes it difficult to ensure compliance with all relevant regulations when transferring funds across different countries. Interoperability: Different countries use different instant payment systems that are not always interoperable with each other. This can make it difficult to transfer funds seamlessly between different countries, with payments formats and messaging standards differences. Settlement Systems: Settlement systems can vary widely between countries, and cross-border instant payments require a settlement system that can handle multiple currencies. It requires coordination between different payment systems and financial institutions, which usually takes time. Fraud and Cybersecurity: when real-time payments are sent across different countries, they can be more vulnerable to fraud and cybersecurity threats. There is increased risk of payments fraud due to the delays in currency conversion and settlement. What are Immediate Cross-border Payments (IXB)? There are ongoing efforts to make cross-border real-time payments a reality. SWIFT gpi and the ISO 20022 XML V9 messaging standard are both good examples of efforts to standardize payment messaging and improve interoperability between different payment settlement systems. A great advancement in this direction is the new payment initiative of Immediate Cross-border Payments (IXB). EBA Clearing, SWIFT and The Clearing House have announced that they are working together to deliver pilot service for IXB for real-time USD-Euro payments in 2023.

Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidità aziendale basata interamente su cloud, fornisce una visibilità di...

Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidità aziendale basata interamente su cloud, fornisce una visibilità di cassa completa e un insieme di potenti funzionalità che permettono di ottimizzare la liquidità aziendale.

Connectivity-as-a-Service (CaaS), or corporate ERP to bank connectivity as a service in treasury and corporate payments management, is to provide quick onboarding and secure connectivity services to businesses so that they can be released...

Connectivity-as-a-Service (CaaS), or corporate ERP to bank connectivity as a service in treasury and corporate payments management, is to provide quick onboarding and secure connectivity services to businesses so that they can be released from the workload of building and maintaining those connectors by themselves with cost efficiency. By choosing Connectivity-as-a-Service, organizations can reduce time spent on connecting ERPs to banks by as much as 80%, compared to the DIY approach. The main reason is that in today’s corporations, it is very common to build or buy a special-purpose software or a Software-as-a-Service platform in order to digitize a particular business process, treasury being one of them. Along with many of such digitalization initiatives over the years comes the challenge of system silos. Moreover, as the number of systems grows, so does the architectural complexity behind them. A by-product of such IT infrastructure growth is the lack of connectivity among different systems. From ERP to CRM to TMS, manual data transfers are still unavoidable, leading to inefficiency, inaccuracy, and insecurity in corporate information management. Version control is another issue. Even with the same software vendor, different versions of software may not be able to integrate without a significant upgrade, which requires IT resources.  S/4HAHA migration is a good example. The assessment of migrating existing bank connectivity to the new cloud and the difficulty of adding successive banks is typically one of the most underestimated areas of the project. When multiplied across a dozen partner banks, with their own flavor or proprietary requirements and connectivity standards, durations extend accordingly. Connectivity needs in Corporate Treasury Depending on the scale of a corporate, usually there are the following needs for connectivity in corporate treasury: Bank connectivity: usually this is required for corporate payments, bank relationship management, bank account management, or compliance. Bank connectivity in modern enterprises is usually done by host-to-host FTP, API or SWIFT. ERP-to-bank connectivity: recently the term ‘Embedded Treasury’ has captured a lot of attention from treasurers. In essence it means to embed banking data and payment processes into ERPs to achieve a new level of system integration and data accessibility. This can be achieved by using prebuilt ERP connectors. Open API connectivity: many system vendors today provide a suite of open API to facilitate system integration or use case innovation. By using open API companies can enhance their financial processes with less software development effort. Meanwhile, the processes can be extended to include more data points for better decision making. For example, treasury and FP&A under the office of the CFO can easily connect their systems through open API integration provided by the vendors and achieve new levels of data sharing. Kyriba recently partnered up with Acterys, a unified SaaS platform for analytical applications suited for financial reporting, consolidation, and planning solutions integrated with Power BI & Excel. Together the two companies are ready to support the CFO office to combine strategic analysis with operational missions to produce more accurate forecasts and predictions. Challenges with ERP to Bank Connectivity in Corporate Treasury From several surveys conducted by Kyriba and Gartner Peer Insights on the topic of connectivity among CIOs, the following challenges are shared across corporates in different industries: Resourcing, both in terms of budget and IT talent Meeting the required timeline for new system implementation or the migration of old systems Maintenance of the legacy systems which cannot easily be retired or replaced by new systems Connecting treasury or other payment systems to multiple banks with different specifications and payment formats Lack of standardization across system interfaces or lack of interoperability Cyber security, compliance, and growing threshold for privacy and data protection Find out more on the main research questions and the results of the surveys: What impacts do IT leaders expect APIs to have now and in the future? Survey: APIs-Enterprise Maturity and Use Cases What are the key considerations when IT leaders form their strategy and roadmap? Survey: IT Priorities and Technology Selection What Are the Benefits of Using Connectivity-as-a-Service? Taking into consideration the challenges and the amount of resources required to tackle them, many companies have chosen to work with a technology vendor who specializes in providing Connectivity-as-a-Service. The main benefits of working with a vendor include: Leverage preconfigured and pretested connectors for ERP to Bank connectivity. Companies use mainstream ERP systems such as SAP, D365, Oracle, or Netsuite do not have to build all these connectors one by one. Instead, they can leverage the pre-built and pre-tested bank connectivity solutions. Use the latest connectivity options such as Bank APIs and other ad hoc connectors. At Kyriba’s Marketplace, you can already find 15 real-time bank connectivity solutions to all major banks, supporting use cases of payments, statements, and transactions. Dramatically decrease the time and costs associated with system migration or maintenance. Minimize system maintenance costs by outsourcing it to technology partners Improve end-to-end automation and quality of data for better decision-making Focus IT staff productivity on initiatives driving top-line business growth ROI of Choosing Connectivity-as-a-Service Kyriba’s Value Engineering team works closely with our clients to understand how value has been realized by choosing Kyriba’s products and services. Based on Kyriba’s experience working with our clients who have various connectivity needs and the use of state-of-the-art tools and processes to evaluate the return on investment, our conclusion is that the choice to use Connectivity-as-a-Service generates tangible return on the initial investment our clients make. Below is a simple comparison to demonstrate how up to 80% reduction in integration time can be achieved by clients who choose to use Kyriba to connect to their banks instead of doing it by themselves. Examples of Using Connectivity-as-a-Service No two companies have the same IT set-up. There are many ways to start the use of Connectivity-as-a-Service. Below are a few examples from the success stories achieved by Kyriba clients. Case 1: Kyriba client Oracle Cerner chose to migrate its SWIFT BIC to the SWIFT Service Bureau offered by Kyriba. By using this Connectivity-as-a-Service for SWIFT bank connectivity, Oracle Cerner can comply with SWIFT standards and save costs of maintaining SWIFT AL2. Outcome: the company saved 930 IT hours per year, including 410 hours of SWIFT AL2 maintenance and 520 hours of bank connectivity maintenance. Case 2: Kyriba client Adobe has 125 global users manually logging into 10+ banking portals on a daily basis to process payments and statements. By choosing Kyriba’s Connectivity-as-a-Service for bank connectivity, Adobe has achieved: Centralized repository of 24 signers tracked and 8 bank letter templates maintained 4 Banks connected for bank fee statement reporting and proactive fee management FBAR reporting information generated from Kyriba Case 3: Kyriba client Şişecam uses Kyriba’s Connectivity-as-a-Service for ERP to bank connectivity to ensure that all payment orders have to be raised via Şişecam’s ERP systems. If there is no record of a payment order in an ERP system, that payment will not be made. Workflow: 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, before the payment request will be sent out to the banks for further processing.

Impantanato da processi manuali e dalla mancanza di risorse, il team di tesoreria di Riot Games ha optato per un miglioramento della tecnologia, implementando un TMS e un portale di investimento indipendente.

Impantanato da processi manuali e dalla mancanza di risorse, il team di tesoreria di Riot Games ha optato per un miglioramento della tecnologia, implementando un TMS e un portale di investimento indipendente. Riot Games è uno sviluppatore ed editore di molti titoli di gioco popolari, tra cui League of Legends, lanciato nel 2009 e tuttora popolare in tutto il mondo a distanza di circa 13 anni. Altri giochi lanciati da Riot negli ultimi tre anni sono Teamfight Tactics, Valorant, Legends of Runeterra e Wild Rift, una versione mobile di League of Legends. Con sede a Los Angeles, Riot Games è cresciuta in modo esponenziale, con oltre 4.000 dipendenti e 20 uffici in tutto il mondo, e nel corso degli anni ha implementato molti nuovi sistemi e processi per far fronte alla sua crescita esplosiva. Riot Games opera in tutto il mondo e raccoglie entrate in varie valute. Grazie alla sua struttura, i ricavi e i contanti tornano alle entità editoriali dello sviluppatore. Sebbene la maggior parte delle spese dell'azienda avvenga negli Stati Uniti, molte delle sue entità editoriali globali hanno accumulato liquidità in eccesso. Philip Giron, responsabile della tesoreria di Riot Games, spiega: "Al di fuori della Cina, dove pubblichiamo attraverso il nostro partner editoriale, Tencent, abbiamo cinque principali entità editoriali in tutto il mondo, in Corea del Sud, nelle Americhe, nell'Unione Europea, a Singapore e in Giappone. Queste riflettono le principali valute che gestiamo: dollari USA, euro, yen giapponese, sterlina inglese, won coreano e dollaro di Singapore. Inoltre, deteniamo fino a 10 valute aggiuntive e effettuiamo transazioni in quasi tutte le valute del mondo, a testimonianza della nostra base clienti globale". Lavorando su oltre 150 conti bancari globali, l'attività del team di tesoreria era molto manuale e si basava su fogli di calcolo e piattaforme bancarie multiple con vari formati di rendiconto. "Il tempo necessario per assemblare la reportistica di cassa globale era molto lungo", rivela Giron. "Se il direttore finanziario voleva quelle informazioni, mi serviva un giorno per raccogliere tutti i dati. Volevamo rendere accessibili queste informazioni per prendere decisioni strategiche basate sui dati". Prima dell'implementazione "Il tempo necessario per assemblare il reporting di cassa globale era molto lungo. Se il CFO voleva quelle informazioni, mi serviva un giorno per raccogliere tutti i dati. Volevamo rendere accessibili queste informazioni per prendere decisioni strategiche basate sui dati". Philip Giron, responsabile della tesoreria di Riot Games Elaborazione del piano Il team di tesoreria di Riot Games ha deciso di implementare un TMS per le operazioni globali e di concentrarsi sull'automazione degli investimenti in Europa. Nel 2019, il team di tesoreria, composto da tre persone, ha iniziato il progetto di trasformazione della tesoreria, progettato per colmare drasticamente il divario tra le risorse limitate e le crescenti responsabilità globali. L'obiettivo della trasformazione è stato quello di eliminare il maggior numero possibile di processi manuali tra rendicontazione della liquidità, investimenti e pagamenti per guadagnare più tempo per l'analisi strategica e mettere a frutto la liquidità in eccesso e inutilizzata. "Abbiamo partecipato a un'importante conferenza nordamericana sulla tesoreria, che in pratica riunisce l'intero settore in un unico luogo, e questo è stato un ottimo modo per vedere tutti i prodotti disponibili", racconta Giron. "Abbiamo parlato con molti fornitori e operatori del settore e alla fine abbiamo deciso che Kyriba era la soluzione migliore per le nostre esigenze". Riot Games ha implementato i moduli di Kyriba per la gestione della liquidità, le previsioni di cassa, la gestione dei conti bancari, i pagamenti e l'analisi delle commissioni bancarie come progetto di fase uno. Inoltre, ha integrato il portale di investimenti indipendente ICD per accedere a un'ampia selezione di prodotti di investimento a breve termine e per effettuare in modo efficiente ricerche, negoziazioni e report sugli investimenti europei con un flusso di lavoro semplificato e automatizzato. "Sapevamo dell'esistenza di ICD e abbiamo ritenuto che non fosse un problema per quello che stavamo cercando, per quanto riguarda un portale neutrale con accesso a molti fondi", commenta Giron. "Ci è piaciuto anche il fatto che non ci sono costi per l'utilizzo, la configurazione o l'integrazione di ICD con le altre tecnologie di tesoreria". Partecipare alla conferenza AFP "Abbiamo partecipato a un'importante conferenza sulla tesoreria del Nord America, che in pratica riunisce l'intero settore in un unico luogo, il che è stato un ottimo modo per vedere tutti i prodotti disponibili. Abbiamo parlato con molti fornitori e operatori del settore e alla fine abbiamo deciso che Kyriba era la soluzione migliore per le nostre esigenze" Philip Giron, Treasury Manager, Riot Games Best Practice di implementazione Assicurarsi che all'implementazione del TMS fosse assegnato un solido project manager è stato fondamentale per il team di tesoreria, che ha incaricato Kyriba di supervisionare il processo e di assicurarsi che le tappe fondamentali fossero rispettate nei tempi e nei budget previsti. L'onboarding di ICD Portal ha seguito un processo in cinque fasi coordinato dal team ICD, e Riot Games è stata operativa con il portale degli investimenti in pochi giorni. "Questi team hanno molti anni di esperienza in questo campo, quindi è abbastanza facile", osserva Giron. "Il massimo che ho dovuto fare è stato collaborare con il team di ICD per fornire i moduli legali, e loro si sono occupati del resto. Il processo di configurazione vero e proprio si è svolto senza problemi". L'implementazione del TMS è stata suddivisa in due fasi per aiutare il team di tesoreria snello a configurarsi con la tecnologia in modo da non avere un impatto negativo sul lavoro quotidiano. "La prima fase consisteva nell'avere le informazioni prontamente disponibili e caricate nel TMS", commenta Giron. "Anche se questo sembra un passo semplice, è stato un processo lungo perché abbiamo 150 conti bancari in tutto il mondo con fino a 15 relazioni bancarie diverse. Non potevamo semplicemente premere l'interruttore e avere immediatamente accesso alle informazioni: si trattava di un lavoro in progress". La natura globale dell'attività di Riot Games ha fatto sì che alcune delle banche che stava inserendo nel TMS, in particolare alcuni istituti asiatici, non utilizzassero necessariamente gli stessi standard o sistemi bancari che, ad esempio, utilizzavano i suoi partner bancari principali del Nord America. Cercare di superare questa incoerenza ha richiesto una gestione delicata da parte del team di tesoreria. "Una delle nostre maggiori sfide è stata quella di convincere le banche straniere, in particolare quelle cinesi, ad accettare il nostro processo e ciò che stavamo cercando di realizzare", continua Giron. "Alcune banche dicevano di non operare con SWIFT o di non poter lavorare con Kyriba, ma quando abbiamo scavato più a fondo e abbiamo risalito la catena della loro organizzazione, abbiamo scoperto che avevano questa capacità". Completata la prima fase, il team di tesoreria ha potuto iniziare la seconda fase dell'implementazione del TMS. Si tratta di estendere l'implementazione oltre gli Stati Uniti alle filiali internazionali e di aggiungere altri tre moduli per la contabilità di cassa, il netting multilaterale e l'in-house banking. "La prima fase consisteva esclusivamente nell'inserire tutte le nostre informazioni in un unico sistema", conferma Giron. "Ora che stiamo entrando nella seconda fase, possiamo iniziare ad applicare gli strumenti che ci aiuteranno a gestire la liquidità. Questo è possibile solo perché abbiamo ottenuto una visibilità del contante centralizzata e in tempo reale". L'implementazione di ICD è stata un po' più semplice in quanto, dopo il processo di onboarding, la tesoreria ha dovuto semplicemente attivare il portale. Dopo aver inizialmente aggiunto due entità per la formazione con ICD, la tesoreria sta ora aggiungendo una terza entità. Cogliere i vantaggi immediati Grazie a Kyriba, il reporting di fine mese per Riot Games è stato ridotto da tre giorni a meno di un'ora. Il team di tesoreria ha ridotto la liquidità in eccesso a livello globale, lavorando a stretto contatto con i team finanziari internazionali, consentendo di aumentare il rendimento della liquidità. Per quanto riguarda gli investimenti a breve termine, ICD Portal ha permesso al team di tesoreria di entrare e uscire dalle operazioni in modo rapido e semplice. Tutto parte dall'esperienza dell'interfaccia utente al momento dell'accesso, come spiega Giron: "Quando si accede a ICD, mi piace che sia snello e facile da navigare", spiega Giron. "Mi permette di accedere facilmente alle informazioni su tutti i fondi che voglio esplorare. Nell'attuale incertezza del mercato degli investimenti, avere accesso a tutti i dati del fondo in un unico posto, compresi i rating e le partecipazioni del fondo, mi permette di prendere la decisione più informata possibile e di garantire la conformità con la nostra politica di investimento". Avendo eliminato le telefonate con le singole società di fondi, tutte le operazioni effettuate tramite il portale vengono ricercate ed eseguite in un unico luogo, con un unico ticket di compensazione. "Quando eseguiamo rimborsi o acquisti, apprezzo la facilità di esecuzione", spiega Giron. "Non c'è la burocrazia di dover contattare qualcuno per l'approvazione. Ad esempio, questa mattina abbiamo ribilanciato il nostro portafoglio di fondi comuni monetari in pochi minuti tramite ICD". La trasformazione è vantaggiosa anche per il reparto contabilità, che utilizza i report completi delle transazioni e delle valutazioni del portale. "Con ICD, la rapidità di esecuzione ha liberato molto del nostro tempo, così come l'interfaccia che consente una rapida ricerca di fondi comuni monetari", osserva Giron. "Essendo un team snello, il tempo è la nostra risorsa più preziosa. Abbiamo liberato più tempo da dedicare alle previsioni di cassa, alla pianificazione della liquidità e all'analisi del portafoglio di investimenti". Attraverso la trasformazione della tesoreria globale, Riot Games ha lavorato tra i vari dipartimenti per migliorare la reportistica, eliminare la liquidità in eccesso al di fuori dei saldi operativi, ridurre la reportistica di fine mese, da tre giorni a meno di mezza giornata, e ottimizzare gli investimenti a breve termine per risparmiare tempo e ottimizzare il portafoglio per ottenere i migliori rendimenti. La seconda fase dell'implementazione del TMS vedrà il team di tesoreria supportare l'attività intercompany con la tecnologia per la contabilità di cassa, netting multilaterale e banca interna per ottimizzare i saldi di cassa globali. Oltre a ciò, Giron intravede un percorso di ulteriore integrazione per incrementare ulteriormente l'efficienza dell'azienda: "I nostri team finanziari e contabili utilizzano Oracle, quindi la mia visione sarebbe quella di integrare ulteriormente Oracle con ICD e Kyriba", conclude. "So che l'integrazione è possibile perché abbiamo parlato con professionisti della finanza che hanno fatto proprio questo. Se si riesce a far funzionare i sistemi informatici e i software a proprio favore, la vita migliora e i tesorieri hanno il tempo di concentrarsi su aspetti più strategici del loro lavoro". La risorsa più preziosa "Abbiamo liberato più tempo da dedicare alle previsioni di cassa, alla pianificazione della liquidità e all'analisi del portafoglio di investimenti". Philip Giron, Responsabile della Tesoreria di Riot Games Questo articolo è apparso originariamente su Treasury Management International (TMI) il 28 novembre 2022.

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

Cash is still king — but the value of cash and forecasted liquidity held or planned by the company can only be realized if 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 visibility into current balances, never mind impacting the accuracy of cash and liquidity forecasting. Luckily, achieving full 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 & 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 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.

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.

The IDC White Paper commissioned by Kyriba validates the emergence of a new practice area in Enterprise IT that includes risk management, payments, real-time connectivity, treasury management and working capital optimization. Download this report...

The IDC White Paper commissioned by Kyriba validates the emergence of a new practice area in Enterprise IT that includes risk management, payments, real-time connectivity, treasury management and working capital optimization. Download this report to understand more about the emerging trends and critical areas of practice that define how leading companies can outperform in operational efficiency, technology adoption, and process maturity. Enterprise Liquidity Management: 51% of leaders can produce a consolidated view of cash and liquidity in under one hour compared to 8% of the less equipped companies; Risk Reduction: 79% of leaders have implemented very effective payment fraud prevention and 69% of them effectively hedge to protect their liquidity; Real-Time Decisions: 93% of leaders leverage real-time insights, while 85% of them have integrated data from partners and third-party members into their enterprise platforms. Situation Overview For CFOs, treasurers, and corporate boards, the COVID-19 pandemic represented a moment of clarity. Seemingly overnight, CFOs were faced with a crisis bigger in many ways than the 2008 financial crisis. In the space of days, treasurers had to shift from managing long-term strategic initiatives of the business to ensuring immediate access to cash to fund basic business operations. Corporate finance leaders long burdened by dwindling IT budgets and limited head count were forced to lean heavily on their treasury and cash management tools. Unfortunately, some treasurers were hampered greatly by their legacy software packages, thwarted by a lack of agility and visibility with their legacy software. Yet, as with all major events, CFOs are often the powerful catalyst for change. The role of the CFO was already changing, but now, because of the past year, the CFO’s environment has changed as well. Corporate finance leaders long burdened by dwindling IT budgets and limited head count were forced to lean heavily on their treasury and cash management tools. Key Pain Points for Today’s Liquidity Management Teams To better understand these changes, IDC conducted a survey of more than 800 corporate finance leaders and practitioners in August 20211 to explore the emerging importance corporate finance leaders are assigning to liquidity management, both during times of crisis and to leverage opportunities for growth. The results of the survey were compelling in many aspects including findings that strongly indicate urgency for CFOs, treasurers, and other financial leaders to design and deploy strategic initiatives to manage liquidity holistically. Effective and efficient liquidity management is among the top priorities for survey respondents2. Here are a few reasons driving increased urgency for liquidity management for treasurers and other financial leaders: Ineffective communication of key treasury/financial metrics to key stakeholders through the company. Many financial leaders struggle to gather the data needed to effectively surface the key metrics to the executive teams and board members. A major part of this issue is the relative lack of real-time access to liquidity data. The survey shows that less than 30% of treasurers can leverage treasury insights in real time. Managing points of revenue leakage including fraud and payment optimization. Given the current environment of uncertainty, financial leaders are doubling their focus on areas of revenue leakage including bank fees/changes and fraud management issues. Only 42% of leaders would characterize their ability to protect their cash/liquidity against fraud as very effective. Given the average company will experience 5–10 fraud incidents per year, the impact on liquidity/cash is immense. Fraud is not the only source of revenue leakage, according to the survey; the reduction of transaction costs and fees paid to third-party payment providers was among the top 5 priorities for treasurers seeking to improve their ability to move cash and liquidity. Managing constant regulatory changes. The regulatory landscape is in constant flux for treasury operations including VAT changes, open banking implementation, and upcoming LIBOR changes. The CFO must have the tools to cope with these regulatory shifts. It seems that CFOs understand the urgency around this as the survey shows that increasing the budget for treasury technology and tools is the number 1 priority over the next two to three years. Liquidity Management Emerges as a Practice Area The events of 2020 have forced CFOs to prioritize business resiliency and continuity by optimizing liquidity management. This will mean a greater focus on working capital management3 including sourcing external funding and providing financing for critical suppliers efficiently. Given the current economic uncertainty, cash and liquidity management have been top of mind for financial leaders. The pressure to maintain liquidity is tremendous as companies of all sizes fight to retain market position and, in some cases, simply stay alive. As a result, businesses have found themselves needing to reforecast their liquidity and cash flow more frequently (weekly or even daily). However, this is a difficult proposition for any company considering the following survey data points, according to the IDC survey of more than 800 corporate finance leaders: Enterprise liquidity management is a “practice area” for 15% of the organizations. Survey leaders are well underway to operationalizing the building blocks of enterprisewide liquidity management (see Figure 1). Only one in eight companies has extensive visibility into the company’s current cash positions (i.e., real-time view of more than 90% of cash). Less than 5% of organizations can reliably forecast cash beyond three months, with most companies being able to only reliably forecast their company’s cash position out to four weeks. Further, less than 20% of organizations can forecast their company’s liquidity beyond one month. Only half (51%) of the businesses were able to build a consolidated view of their cash and liquidity within the same day of the request. In addition to being able to forecast and reforecast quickly and efficiently, financial leaders found that they desperately needed the ability to simulate future what-if scenarios and to create plans based on those what-if scenarios4. The benefit of this capability is that business leaders can remain in lockstep around core business objectives even as the business environment changes rapidly. Unfortunately, many financial leaders don’t have the tools to support scenario planning for liquidity, and as such, they must cope with limited visibility for decision making. The most prominent area of impact is in decision making for treasurers and their executive teams. CFOs with limited visibility are slower to make decisions regarding money movement, internal funding of projects, or M&A activity. Furthermore, a lack of visibility can even impact the bottom line as companies may choose to be less aggressive in moving money into/out of the exchange markets and may opt for expensive external funding sources unnecessarily. Managing Liquidity Enterprisewide Requires Unification More and more, organizations are coming to the realization that liquidity management is not only a critical aspect of functioning in this “new normal” but also a team sport. Organizations must have a unified approach to all data, processes, and human capital related to liquidity management5. Here are the key characteristics of an enterprisewide unified liquidity management process: Centralized liquidity / cash data The centralization of liquidity data streamlines financial operation, allowing for better control for financial leaders. Centralization provides financial leaders with the opportunity to standardize cash management across all legal entities, reduce the number of bank accounts in use, and provide a more holistic view of bank or FX exposures. Deep liquidity analytics Having access to deep analytics provides users with the ability to better predict future liquidity. More importantly, it allows them the chance to find patterns or overlooked items that have business significance (e.g., identifying cash as a revenue-generating asset and monitoring bank fees and deposit rates). Partnering environment Financial line-of-business professionals are often left on an island. This is often the case for finance directors, controllers, and heads of accounting. In fact, only 20% of survey respondents have their CEO as their champion who initiates unified liquidity management initiatives. The key to executive participation goes beyond simply getting the CEO involved in liquidity management decisions. The key here is to develop a partnering environment for all operational decision makers and stakeholders. This can be exceedingly difficult without the proper tools to support partnering and collaboration across business leaders. Dedicated tools to quickly expose key liquidity metrics to all stakeholders within the business are essential. Seamless integration Data must flow between all the relevant cash functions, including treasury, accounts payable, accounts receivable, FP&A, order management, and procurement6. In addition, the data must flow outside of the finance teams as well including investors and lenders, certain government agencies, credit rating organizations, and evens to certain customers and suppliers7. Only then will financial leaders be able to gain a holistic view of the organization’s current cash/liquidity position. Real-time massive data Finance leaders need real-time information to optimize decision making, but often they must wait till the end of day/period/quarter to get an accurate and holistic view of the current state of enterprise liquidity. Today’s liquidity managers need real-time data to build accurate forecasts and market simulations8. Real time is also essential in effective communication of the business cash position between stakeholders. Follow the Leader The process of managing treasury at the corporate level is complex and ever changing. In these cases, it is not unusual for CFOs and their treasury managers to reach out to gather advice from trusted sources. Leader companies, as defined by the survey, are more likely to reach out to their fintech partners and their accounting/audit partners for guidance than their laggard counterparts9. This is an example of how leader companies create a road map for other companies to follow. Here are a few other areas where leaders are blazing a trail for other companies: Involvement of the top management: A unified liquidity management strategy, when done properly, incorporates feedback from all departments. In short, a unified liquidity management strategy demands a unified approach from top finance leaders and even from the broader business leaders. For example, sales and supply chain have a massive impact on liquidity. As such, the leadership in these areas must also move in a coordinated fashion regarding liquidity management for the business. Visibility for financial leaders and decision makers: Leaders are significantly more aware of their real-time cash availability. Over 79% of leaders were able to get >75% visibility of past liquidity compared with <20% of laggards. Over 75% of all firms can predict their cash up to four weeks reliably; however, beyond four weeks is a struggle for all firms. The logistics of cash and liquidity: All (100%) leaders are very efficient at using pooling and sweeping to manage cash and liquidity; almost no laggards are. Leaders are focused on increasing the adoption of new and existing payment systems. Keeping cash and liquidity protected: Close to 100% of leaders are effective at using business continuity and contingency planning, payment fraud protection, and hedging compared with 35–55% of laggards. Leaders are focused on greater digitalization of end-to-end payment authorization. Setting financial operation up to grow cash and liquidity: Nearly all (99%) leaders have adopted business intelligence techniques to make better decisions regarding liquidity compared with 25% of laggards. Close to 100% of leaders are effective at using business continuity and contingency planning, payment fraud protection, and hedging compared with 35–55% of laggards. Benefits of Enterprise Liquidity Management Liquidity and cash management will be important to adapt to the rapidly changing business environment going forward. Importantly, liquidity management is essential amid any rapidly changing business environment, whether it is a global crisis, supply chain disruption, shifts in a competitive environment, or rapid internal growth as seen with many technology companies. Here are the key benefits of a cohesive and unified enterprise liquidity management strategy: Improved visibility: During the height of the pandemic, business decisions needed to be made within a matter of hours. Unfortunately, in the survey, IDC found that about 50% of organizations need more than one full day to build a consolidated view of their cash and liquidity. Decisions like layoffs and supplier payments had to be made quickly, and in nearly half the cases, according to the survey data, decisions were made without a consolidated current view of cash and liquidity. Companies can’t see upcoming shortfalls or dips in cash flow, which limits their ability to invest in long-term business initiatives like digital transformation, expand into a new geographic market, migrate to a new technology platform, or broaden product and service offerings. Better risk management: Today’s financial leaders are swimming in data and are finding FX, with all its moving parts, to be particularly difficult. Speed is another area of concern for treasurers that desire the ability to move money around the clock and in real time into and out of currency markets. However, with increased speed comes the need for more powerful real-time risk management capabilities. To highlight this, liquidity risk and fraud risk, collectively, were the most important strategic commitments, for financial leaders, to pursue over the next two to three years. More effective compliance: The tax and regulatory environment is constantly changing directly and significantly impacting treasury management processes. Today’s liquidity management professionals must be proactive to understand how these will impact treasury and other financial operations today and how they may impact these operations in the future. Greater process efficiency: The role of the average liquidity management professional is rapidly changing. While cash management and cash forecasting continue to be strategic priorities, liquidity managers and CFOs must also now focus on supply chain finance, insurance, and commodities. Even amid a period of expanding roles and responsibilities, many liquidity managers find themselves working with the same number of resources. The need to do “more with less” among financial professionals represents an opportunity for financial management technology vendors. According to the IDC survey, currently, 77% of financial leaders felt they lack either skills, head count, or budget to modernize their financial operation. Greater flexibility in financing: Businesses with an enterprise liquidity operation are better able to take advantage of a wider spectrum of asset-backed debt solutions including invoice financing, lines of credit, and demand loans. The visibility and control provided by unified coordinated liquidity management allow financial leaders greater working capital options. Further, this financing flexibility also provides a boost in business resilience, which is essential in times of uncertainty. As a result, establishing a receivables financing program was the top priority to improve cash and liquidity enterprisewide. The visibility and control provided by unified coordinated liquidity management allow financial leaders greater working capital options. APIs Unify the Practice of Holistic Liquidity Management The benefits listed previously and the road map laid out in the Follow the Leader section are all predicated on the smooth and rapid flow of data between various stakeholders and their corresponding applications. Specifically, unified liquidity management demands that the data from back-office applications be made available for processing and analysis. In many ways, topics such as cash management, liquidity forecasting, and treasury management efficiency all stem from robust data management practices and tools. The importance of data management has put the spotlight on application programming interfaces (APIs) and the promise they hold when deployed properly. The survey reveals that nearly 88% of respondents consider the adoption of APIs as important or very important. Liquidity management applications exist within a spiderweb of adjacent back-office applications and external data sources. Also, the liquidity/cash management process is a collection point for data from other multiple back-office systems/processes. Working capital management is an example of a process where data must be gathered from multiple systems/processes (e.g., ERP, procurement, accounts payable, reconciliation, and inventory). This interdependency places heightened importance on the smooth flow of data between these systems. This is where application programming interfaces become essential for liquidity management teams. The value of APIs can potentially extend beyond the four walls of the organization. APIs can be leveraged to incorporate external data sources to sharpen financial agility in areas such as FX, banking payments data, credit decisioning data, and even geopolitical factors that may impact the global flow of goods. Yet, according to the survey, just three of five companies are using APIs to integrate and optimize their internal system infrastructure (e.g., ERP, TMS). Further, a similar percentage uses APIs to extract/analyze internal data for reporting/management (e.g., dashboards). Leaders are always looking to adopt technology to support efficiency and agility in treasury operations. It is one of the essential differences between leaders and their laggard counterparts. For leaders, APIs are a core element of liquidity management operation. For example, 92% of leaders consider the adoption of APIs important or very important compared with 58% of laggards. APIs from a Global Perspective Major technology and economic hubs in Europe are significantly lagging behind the global average in terms of API adoption, according to the survey data. This represents hesitancy among major European Union (EU) players to adopt APIs (see Figure 2). Data residency and data privacy initiatives within Europe have tempered the demand slightly for cloud-native financial applications. However, this is changing rapidly as initiatives like the EU-funded project Open Clouds for Research Environments (OCRE) continue to grow and aid in accelerating cloud adoption in Europe. APIs Are Only the Beginning APIs, while important, are only the beginning. They are simply pipes that allow data to flow between systems, but it is not until this flow of data is harnessed that the real power of APIs emerges. APIs can potentially form the foundation of a platform where liquidity analysis and insights are harvested and shared with key stakeholders in real time. As such, the API layer must be paired with an additional layer of software that allows for data to be analyzed and structured into actionable insights. In a sense, APIs move financial data to a larger financial operating system where financial leaders get the business-critical information they need to make liquidity management decisions in real time. Future Outlook Liquidity Management Has Changed Permanently in the Past 24 Months CFOs and treasury managers suddenly find themselves facing a new reality where liquidity management is more strategic and more critical to the business than ever before. As a result, there will be permanent changes to the finance department going forward, including: The velocity of liquidity flow data will increase. Over 50 countries have adopted some form of real-time payment schemes in the past few years, with more to come. This has dramatically increased the speed at which treasury payments can move. This increases the need for improved security and enhanced reporting tools to manage enriched data sets from real-time payment platforms. Liquidity management becomes more essential. The pandemic will force treasurers to prioritize business resiliency and continuity by optimizing liquidity management. This will mean a greater focus on working capital management including sourcing external funding and providing financing for critical suppliers efficiently. The role of the CFO continues to expand. The role of today’s CFO is rapidly changing and expanding. While cash management and cash forecasting continue to be strategic priorities, CFOs are also increasing their focus on supply chain finance, insurance, and commodities. However, many financial leaders find themselves working with the same number of resources. Today’s financial management professionals require more advanced and innovative technology to keep up with the challenge. There will be a greater focus on advanced technology. To keep pace with rapidly changing market dynamics, treasurers will require their tools to be powered/enabled by cutting-edge technologies such as machine learning (ML), big data and analytics, microservices, and enhanced application programming interfaces. Digital banking / payments will be a focus area. Payment management was critically important during the pandemic and will remain so in the post-pandemic treasury world. As a result, digital banking platforms and bank connectivity will be a strong focus area for treasurers going forward. Finance departments long burdened by dwindling IT budgets and limited head count were forced to lean heavily on their treasury and cash management tools during the recent uncertainty. Unfortunately, some finance departments were hampered greatly by their legacy technology. But the survey data reveals that this is set to change (see Figure 3). Here are a few key future technology trends that will shape enterprise liquidity management going forward: Artificial intelligence (AI) is highlighted. Financial leaders for product-centric companies often must move quickly to secure supply chain obligations and financing. Many turned to advanced technologies such as machine learning and advanced analytics to help lower the data analysis/management burden and allow for more accurate decisions regarding financial management at speed. Cloud is leading the way. The most obvious takeaway is that organizations are planning on spending more on SaaS versus traditional (on-premises, single-tenant, and managed hosted) software. IDC research shows that organizations are already seeing a shift toward the public cloud for treasury, FP&A, and accounting software, but the survey results also suggest that this trend is accelerating considering recent disruptions. Aim to bridge the gap between finance and IT: For finance leaders, the top hurdle to digital transformation is the friction between often restrictive IT/security policies and the desire of the finance department to move quickly and be more agile. In IDC’s December 2020 Worldwide C-Suite (CXO) Survey, the most common hurdle for finance leaders to effective digital transformation agenda was the IT and security leaders slowing them down. The data reveals that financial leaders feel hampered by an inability to gather and disseminate that business-critical information to the necessary stakeholders at speed. As a result, financial leaders need more tools and features geared toward agility so that they can more quickly respond to rapid market shifts. Rapid payment technologies / initiatives see growth: For liquidity management professionals, time is of the essence when it comes to making payments. As a result, there has been growing momentum around faster payment programs. Recently, several payment initiatives were introduced/expanded, including SWIFT gpi, SEPA instant payment, and same-day ACH. Enterprisewide Liquidity Key Aspect of New Normal In the past, much of the financial leader’s role was to manage rear-facing details like closing the period, reconciling GL transactions, invoice matching, or cash application. While these will always be important, the uncertainty of 2020 put more of a focus on forward-looking activities like forecast, budgeting, and planning. With the pace of change in overdrive post-2020, financial leaders are investing a large amount of time trying to anticipate and plan for the next major change in business dynamics. A larger amount of the CFO’s time must be devoted to trying to develop a financial strategy to anticipate future shifts in market dynamics. For example, prior to the event of 2020, many CFOs and financial leaders would update their cash flow and liquidity plans quarterly or on a halfyearly basis. However, the financial and regulatory landscape is shifting so quickly, due to the shock of the pandemic, that many CFOs and their teams are now updating their cash flow and liquidity plans weekly or even, in some cases, daily. This new normal requires/demands a more unified approach to financial operations to cope with the new hyperspeed pace of economic change. It is more important than ever that financial data flow freely and quickly between key departments and key financial applications. Businesses on the leading edge have heard the call and are already making the necessary changes to thrive within this new normal. In fact, the survey shows that 15% of survey leaders are already operationalizing the enterprisewide management of liquidity as a practice area cross-functionally. Prior to the event of 2020, many CFOs and financial leaders would update their cash flow and liquidity plans quarterly or on a half-yearly basis. Emerging Need of a Chief Liquidity Officer As stated previously, the importance of liquidity has increased dramatically, and the need for an enterprise liquidity management approach has grown in importance as well. When taken together, they reveal the growing need for a dedicated chief liquidity officer. This position will act as a central point of authority and accountability for a unified liquidity management approach. This position would develop, manage, and optimize a holistic liquidity management strategy to ensure alignment with overall business objectives — especially as those objectives change/evolve/shift over time. However, a business looking to add this position must also invest in the tools, skills, and resources to manage liquidity at an enterprise level including forecasting/simulation, data visualization, and dashboarding tools as well as an API-driven platform that leverages automation and artificial intelligence to quickly gather and disseminate business-critical financial data. As the demand for business resiliency and proactive liquidity management continues to grow, so too will the demand for a dedicated chief liquidity officer. As the demand for business resiliency and proactive liquidity management continues to grow, so too will the demand for a dedicated chief liquidity officer. Challenges / Opportunities Ecosystems that must be curated: Liquidity management operations require data flows from many internal and external data sources. These data sources must be constantly curated to make sure that the financial leadership has access to the latest information and cutting-edge technology advancements. Curating ecosystems around the liquidity management solution takes effort and resources from a department that is often lacking in resources. Getting buy-in: Data shows that many line-of-business financial managers (e.g., controllers, accounting managers, and treasurers) don’t have support for liquidity management operation transformation. While this was the case for line-of-business financial managers prior to the pandemic, according to the survey data, this phenomenon is still a reality for many line-of-business financial managers. Data security risks: While APIs have tremendous promise for data integration, they also have the potential to expose sensitive data when not managed properly. API keys, for example, must be handled with great care or risk giving unlimited read/write access to financial information. Conclusion The CFO’s role has evolved into a strategic business partner for the rest of the organization, and the capability that’s required to deliver actionable intelligence downstream to the decision makers at the edge of the business or the lines-of-business leaders is evolving as well. For context, IDC believes the total available market for an enterprise liquidity management software (e.g., treasury, B2B payments, corporate payments, supply chain, and receivables financing) approached $30 billion in 2020. This is a massive opportunity for vendors to step in and help the CFO as their role changes. To access data is just the beginning of the journey to enterprise liquidity management. The ever-evolving remit of the office of the CFO is to be the lightning rod for data within the business and users of that data to power coordinated, data-driven financial business decisions throughout all facets of the organization. This demands a system that is built to aggregate, analyze, and disseminate data. This need is driving the emergence of centralized intelligent financial data platforms built upon APIs and strong data management principles. This new liquidity management platform may also necessitate the emergence of a chief liquidity officer to sit at its helm. In any case, the world of liquidity management is changing rapidly, and a unified enterprisewide liquidity management approach is no longer a luxury — it is a must for today’s business environment. References n = 440 European organizations, $100mil+ revenue. Enterprise Liquidity Management Is a Focus Area for Senior Execs Among Leader Organizations: CFO, CEO, Board of Directors. In 23% of the most advanced corporates, Liquidity Management is a focus area for CEOs, whereas it mainly remains a in the hands of the treasurers for the laggards (23%) Leaders Are Focused More on Integrating Working Capital Data, While Laggards Target Transitioning to Real-time Visibility And Improving Quality of Data Common Priority. They are more focused on integrating working capital data (43% against 27% of the less equipped companies). 80% of Leaders have adopted business intelligence techniques to make better decisions regarding liquidity. Survey Readout slide 40–48% of Leaders Encounter Greater Disconnected Priorities Between Finance and IT Departments. Most Leaders (75%) have transparent and well-connected corporate finance and treasury teams compared to ~30% of Laggards. This is visibly reflected in the adoption rates across APIs for different purposes: To integrate and optimize their internal system infrastructure – 80% Leaders vs 10% Laggards. To leverage internal data for reporting – 90% Leaders vs 15% Laggards To send data to partners and others – 80% Leaders vs 27% Laggards To receive data from partners and third-party members – 85% Leaders vs 10% Laggards >90% of Corporate finance and treasury teams of Leaders can effectively leverage real-time insights compared to only 33% of Laggards. 39% of Leaders Have a Wider Set of Fintech Partners to Support Enterprise Liquidity Management Initiatives Compared to just 7% of Laggards. Source: IDC Enterprise Liquidity Management Study, sponsored by Kyriba, August 2021. Want to learn more about Enterprise Liquidity Management? You are welcome to join Kyriba's upcoming monthly live demo sessions to see the Kyriba ELM platform in action. An on-demand demo session is available here.

APIs offer a lifeline for CFOs and treasurers who are looking for both innovation and cost improvements. Although many CFOs think of APIs for finance as an expedited pathway for bank connectivity, bank connections...

APIs offer a lifeline for CFOs and treasurers who are looking for both innovation and cost improvements. Although many CFOs think of APIs for finance as an expedited pathway for bank connectivity, bank connections are just the tip of the iceberg. APIs open integration to a variety of systems, including capabilities that vastly improve cash forecasting, liquidity management and payments. APIs offer an information and processing gateway to realizing digital transformation. Unlike FTP, APIs do not require files to be sent or downloaded. Data is exchanged point to point between systems immediately, allowing for instant data transmission and eliminating substantial risk. They enable the development and use of faster, pre-built connectors to reduce implementation times and facilitate real-time payments and security. In this whitepaper, we'll explore: What APIs are and how they work for finance The different types of APIs that are available How APIs can revolutionize ERP connectivity, cash management, liquidity management, payments and more. CFOs Are Investing Billions CFOs are investing more than ever on enterprise platforms, with organizations spending an estimated $675 billion in 2022, according to Statista. Much of this investment is for organizations to move their enterprise resource planning (ERP) systems to cloud platforms, such as SAP S/4 Hana Oracle Cloud, and Microsoft Dynamics 365 leading the large corporate market. For CIOs looking to effectively support their CFO business partners, connectivity from ERP to internal and external systems and data sets remains a costly challenge, often delaying go-live dates and driving significant cost overruns. 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. What Is an API? An API is a program that allows mulitple pieces of software to “talk” to each other. Applications on your phone and embedded widgets on a website all use APIs to request or deliver information. Why APIs for Finance Matter Gartner research revealed that nearly 50 percent of financial leaders will incorporate a “composable financial management system” by 2024 “to deliver capabilities and outcomes that keep up with the rapid pace of business change.” APIs are enabling that change. They are transforming the way finance leaders consume data and are allowing a coupling of multiple applications that was previously impractical to support, creating 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. They enable the development and use of faster, pre-built connectors to reduce implementation times and facilitate real-time payments and security. "With APIs for finance, your platforms evolve from being systems of record to systems of engagement,” said Bob Stark, Global Head of Market Strategy at Kyriba. “Your platform is connected with any number of internal and external systems to be continuously up to date.” Open API Platforms APIs facilitate open networks. Using developer portals, technology providers can build applications on top of the API provider’s platform. Open banking is a perfect example. The Revised Payments Services Directive (PSD2) in 2018 helped to make APIs even more relevant for corporate treasury and finance. The EU Directive requires banks to open their platforms to payment technology providers – with APIs being a leading solution to manage this compliance. Although PSD2 only applies to the European Union, similar initiatives in other regions also quickly emerged as banks in the United States and throughout APAC have recognized the opportunity to offer real-time, data-driven services to corporate clients. "The PSD2 movement has really encouraged banks to start to open APIs for corporates.” —Felix Grevy, VP of Product, Open API and Connectivity for Kyriba A common frustration among treasury and finance leaders is a lack of centralized visibility across multiple departments, liquidity and payments. Open API platforms act as a conduit between disparate teams and systems, allowing for real-time connections to apps, data, and new products and services. Open API platforms reduce manual processes, and deliver composable technology solutions, enabling corporate and bank users to inject data-driven decision-making into every financial operation. APIs for Bank Connectivity It’s important to note that banks and technology solutions providers that are managing open platforms are not replacing legacy formats like FTP and SWIFT with APIs. Instead, they are offering APIs as a complement to these formats. Following the advent of PSD2, European banks have begun using “premium” APIs, which are APIs with greater functionality. "The difference between the PSD2 APIs and premium APIs is that premium APIs are more powerful,” Grevy said. “You can retrieve balances and do instant payments. And they are much more secure, and much more appropriate for integration with an ERP or treasury management system (TMS).” Banking services optimized via API vary, some examples include: Bank Groups Branch Reporting Bank Account Groups Cash and Cash Flow Reporting However, the rollout has been slow. Most banks are not using APIs in live production yet, and many of the ones that do use APIs only offer them for certain real-time services—meaning that multiple connectivity options are needed to fully support a treasury and finance team. Furthermore, most technology vendors only offer no functionality beyond bank connectivity and can only connect one ERP to a bank. Nevertheless, API connectivity 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. So while adoption may be slow and gradual, the advantages to the end user are clear. ERP Connectors ERP platforms like SAP, Oracle and MS Dynamics have major efforts to develop and embed APIs into a wide array of functions and workflows. Luckily, for IT and Finance functions arent’ required to do the heavy lift; these APIs are plug-and-play and enabling more and more core integrations and reporting capabilities. Cash Management APIs offer organizations the ability to manage cash continuously and in real-time. Rather than relying on batch reporting that is constrained to pre-determined times throughout the day, treasury teams can now access reports as needed. Receiving un-batched, real-time liquidity information greatly improves cash reconciliations, cash application, and accuracy of liquidity overall. This will, in turn, change the mechanics for best-practice cash forecasting and lead to the production of intraday liquidity products, such as hourly investing. Allowing treasury professionals to access their cash outside of previously “normal” hours not only expands the scope in which organizations can leverage their liquidity, but also allows treasury to make greater strategic contributions. APIs also allow treasury and finance to track sufficient movements in and out of the accounts throughout the day. That visibility can help organizations to make significant intraday decisions instead of end of day or overnight. Payments APIs for finance can also streamline the entire payment journey. Instead of relying on batch processes that transmit at several pre-determined times each day, APIs allow payments to be initiated from treasury management systems and ERP systems as needed—even in real time. In fact, real-time payments sometimes require APIs. Simply put, if you want payments to settle instantly, file transfers may not be the best connectivity option to choose. Using File Transfer, bank files are extracted, reformatted, encrypted, and downloaded by the treasury platform—a process that takes five to ten minutes at least. Once balances are known, the process to send and confirm a payment is another five to ten minutes at minimum. APIs, in contrast, can query a bank balance and then send a real-time payment instantly without the transfer of any files. With the rapid increase of both domestic real-time payment systems (The Clearing House’s RTP and FedNow in the U.S.) and cross-border platforms (SEPA Instant, SWIFT Go, and Nexus) APIs are a necessity for businesses who want to deliver instant payments. Leveraging APIs to utilize real-time payments not only revolutionizes the initiation and acknowledgement process, but also the ability to mitigate fraud. While the 2022 AFP Payments Fraud & Control Survey found that business email compromise scams have decreased recently, they are nevertheless still a persistent threat. Since real-time payments don’t afford users the opportunity to identify fraudulent transactions after transmission, fraud mitigation strategies must now be included in the approval process. Building APIs into the payment platform allows users to fully automate bank account validation and payment policy screening, identifying exceptions. Outliers can be flagged and set aside for review, while all other payments travel seamlessly as intended. Creating Flexible Reporting and Information Systems APIs are far more than just connectors to banks and ERPs. APIs can revolutionize the ways in which treasury and finance operate both internally and holistically. APIs offer the ability to create a flexible, custom, data warehouse that could exist within your TMS, as some treasury systems can act as a single source of record. When other systems have limited functionality, your data warehouse can fill the gaps through provision of market data, financial transaction specifics such as portfolio, project or risk-related information to deliver a quick, flexible source of weekly treasury reporting. Regardless of where your data is stored, APIs establish the means to integrate various data sources within a single repository or warehouse. Second, APIs allow treasury and finance to automate beyond task automation, which streamlines the organization’s own capabilities. APIs enable process automation, which simplifies and entire workflow like the entire payment journey. Entire systems and processes can be brought together more easily via APIs. Both automation and the extent of the functional coverage facilitate composable financial management systems. When networks of personalized systems, reports, dashboards, and efficient workstreams are enabled and integrated by APIs, treasury and finance teams can then focus on accelerating innovation and cost-reduction projects. ERPs, while critical, are not the only system requiring strong integration and the exchange of information for stronger decision-making. APIs are the glue that holds all of these components together and APIs change the efficiency and real-time capabilities for treasury and finance leaders. "CFOs and CIOs, hand in hand, are recognizing that we need APIs to bring everything together to accelerate the innovation,” Stark said. “Before APIs, the way that you’re making a composable financial system is by using custom interfaces, manual clicking and logging into systems and, if you’re lucky, a little bit of RPA. APIs are perfectly suited to improve process automation, linking multiple systems and workflows together, because they allow finance teams to build a system of multiple components.” Figure 1. Progression of Hyberautomation Initiatives Source: Gartner 2021 References Information technology (IT) spending on enterprise software worldwide, from 2009 to 2023 2022 AFP Payments Fraud and Control Survey Gartner Identifies the Top Technology Trends That CFOs Should Address Today   Interested to learn more about how APIs for finance will change the way leaders consume and act on information? Check out this webinar where Alex Yang from Bank of America, David Miller from Hunt Companies and Bob Stark from Kyriba demystify APIs' value for payments, intra-day liquidity, ERP integration, fraud detection, cryptocurrencies and more.

Kyriba Analytics fornisce dashboards visive e strumenti di analisi integrati per i moduli e i dati di Cash, Liquidity, Treasury, Risk, Compliance e Supply Chain Finance di Kyriba. Kyriba Analytics non si limita al...

Kyriba Analytics fornisce dashboards visive e strumenti di analisi integrati per i moduli e i dati di Cash, Liquidity, Treasury, Risk, Compliance e Supply Chain Finance di Kyriba. Kyriba Analytics non si limita al tradizionale reporting, ma offre strumenti di drill-down on demand, modifica delle dashboards e un'esperienza visiva rivoluzionaria finalizzata alla condivisione di informazioni già pronte per le presentazioni. In base a un sondaggio di CFO.com, la visualizzazione e il reporting dei dati sono le principali aree in cui secondo i CFO la tesoreria dovrebbe migliorare le proprie soluzioni tecnologiche per uniformarsi alle best practices. Informazioni utili strategiche in merito a liquidità e rischio Grazie all'AI, Kyriba Analytics fornisce al Finance ancora più informazioni utili al processo decisionale. Dashboards per l'analisi di scenari, l'applicazione di tendenze, dati di mercato e criteri passati forniscono informazioni ancora migliori per: Visualizzare la cassa e la liquidità in tutta l'azienda Prevedere il debito con un'analisi flessibile degli scenari di flussi di cassa in entrata e in uscita per farsi trovare sempre pronti Visualizzare gli effetti del debito e del livello di rischio sulla redditività Supportare le spese in conto capitale e il processo decisionale strategico per trovare le modalità ottimali di finanziamento delle acquisizioni o supportare il finanziamento delle filiali internazionali Sapere dove si concentra il carico del debito e attraverso quali tipi di strumenti Funzionalità distintive Analisi interattiva Visualizzazione dinamica e analisi drill-down Scopri relazioni tra dati e tendenze grazie all'esplorazione grafica Pronto utilizzo Accesso istantaneo a report in formato standard e formule preimpostate Possibilità di sfruttare KPI, visualizzazioni e calcoli preintegrati Dashboard self-service Crea i tuoi dashboard interattivi Condividi i tuoi dashboard personalizzati con i tuoi team Integrazione totale Sicurezza totale all'interno del cloud di Kyriba Separazione dei dati per utente totale Agevola la collaborazione tra team Moduli e Use Cases Liquidity Analytics A quanto ammontano il mio debito netto e la mia liquidità? Come e quando mi conviene pagare i debiti? Su quanti "giorni di sopravvivenza" posso contare? Analisi della cassa Dispongo di cassa sufficiente? Le mie previsioni di cassa sono affidabili? Qual è la mia attività con le banche? Analisi dei pagamenti Dove si concentrano principalmente i miei pagamenti? Effettuiamo troppi bonifici? Quali utenti eseguono i pagamenti e chi li approva? Analisi del rischio Che disponibilità ho sulle mie linee di credito? Qual è il profilo del mio indebitamento? Qual è il valore delle mie risorse finanziarie? Analisi della Supply Chain Finance Qual è la percentuale di adesione tra i miei fornitori? Quanti documenti sono stati caricati? Quali fatture sono finanziate? Analisi della conformità Chi sono gli utenti e dove sono ubicati? A quali moduli possono accedere e con che diritti? A quali dati possono accedere? Perché utilizzare Kyriba Analytics? Reporting tradizionale Analytics Visualizzazione dei dati avanzata Creazione di dashboard self-service Drill-down dei dati Modifica in tempo reale delle variabili Gestione di grandi volumi di dati Ampliamento della collaborazione all'interno dell' ecosistema aziendale

Ottimizzazione della cassa e della liquidità per il CFO I moduli Cash Management, Liquidity Planning e Liquidity Analytics di Kyriba offrono una soluzione completa per prevedere i requisiti di cassa e liquidità e prendere...

Ottimizzazione della cassa e della liquidità per il CFO I moduli Cash Management, Liquidity Planning e Liquidity Analytics di Kyriba offrono una soluzione completa per prevedere i requisiti di cassa e liquidità e prendere decisioni basate sui dati. Dopo la pandemia, la pratica delle previsioni è cambiata. la pandémie. I CFO e i consigli d'amministrazione pretendono flussi di cassa più elevati, il che richiede una maggiore precisione nelle previsioni e nella pianificazione. La pianificazione della liquidità è una nuova pratica emersa per andare al di là delle tradizionali previsioni di cassa al fine di prendere decisioni informate ed efficienti finalizzate a incrementare e preservare la cassa a bilancio e supportare i piani di crescita, espansione, acquisizione e miglioramento dell'EBITDA del CFO. La piattaforma Kyriba supporta pratiche di cassa e liquidità integrate: Cash Management - cash positioning giornaliero e riconciliazione delle transazioni bancarie del giorno precedente, oltre a report bancari, tracciamento delle transazioni bancarie e bilanciamento dei conti correnti. Moduli Kyriba: Cash Management Previsione di cassa - proiezione degli eccessi e dei fabbisogni di cassa a giorni/settimane/mesi nel futuro. I dati per le previsioni sono acquisiti da fonti interne ed esterne, con la possibilità di mettere in atto più previsioni in parallelo e testare scenari diversi. Moduli Kyriba: Liquidity Planning Liquidity Planning and Liquidity Analytics - circondando le previsioni con dati sugli investimenti e sui prestiti per prendere decisioni di liquidità più informate. Il piano di liquidità rende la previsione di cassa immediatamente fruibile, dimostrando l'impatto delle decisioni sugli investimenti e sull'indebitamento con approfondimenti sui dati in tempo reale. Moduli Kyriba: Liquidity Planning and Liquidity Analytics Chiara individuazione dei livelli di liquidità desiderati e flessibilità nel reporting: Per saperne di più sui moduli Liquidity Planning e Liquidity Analytics di Kyriba, visita www.kyriba.com.

Modernizzazione della previsione di cassa e della pianificazione di liquidità Il Cash Forecasting è cambiato dopo la pandemia, con l’emergere di nuove pratiche, più precise e veloci, per la previsione del flusso di cassa...

Modernizzazione della previsione di cassa e della pianificazione di liquidità Il Cash Forecasting è cambiato dopo la pandemia, con l’emergere di nuove pratiche, più precise e veloci, per la previsione del flusso di cassa e della liquidità disponibile. La risposta di Kyriba è stata una soluzione completamente rimodernata per ampliare con fiducia gli orizzonti di previsione e supportare decisioni sulla liquidità basate sui dati. Riduzione dell’utilizzo di fogli di calcolo I team delle tesorerie si sono spesso affidati ai fogli di calcolo per le loro esigenze di previsione, con lo scopo di modellare report e scenari sia semplici sia complessi. Il modulo Liquidity Planning di Kyriba è progettato per garantire la semplicità di utilizzo di un foglio di calcolo offrendo al contempo la flessibilità necessaria per modellare la complessità delle previsioni. Flessibilità e precisione da Kyriba Kyriba Liquidity Planning è un nuovo modulo di previsione di cassa che consente ai team di tesoreria e finanza di prendere decisioni più accurate per giorni, settimane, mesi e anni nel futuro. Liquidity Planning supporta la previsione di cassa e, in combinazione con Liquidity Analytics, supporta anche pratiche di pianificazione della liquidità. CARATTERISTICHE PRINCIPALI Flessibilità e configurabilità Modella le previsioni come desideri con quante iterazioni desideri, incluse presentazioni top-down o bottom-up per supportare diverse tipologie di previsione. Costruzione basata su formule Includi o escludi i dati che desideri in ogni voce e nel totale riepilogativo. Previsioni parallele multiple Esegui cicli di previsioni di cassa multipli allo stesso tempo, progettati con diversi dati e presupposti. Scenari What-if Modella le previsioni a fronte di vari scenari di liquidità e rischio. Immissione in stile Excel Elaborazione e copia/incolla a richiesta con un solo clic direttamente nella previsione. Flusso di lavoro di invio e revisione Collabora con altri utenti, e invia loro notifiche e commenti. Analisi delle variazioni Utilizza la combinazione con l’analisi di cassa per dettagli e analisi approfondite sulle variazioni della previsione. Caricamento dei dati da qualsiasi origine Unifica i dati di previsione da ERP, fogli di calcolo, data lakes e altre origini via interfaccia API o file. Flussi di cassa potenziati da AI Sfrutta la combinazione con la AI di Gestione della cassa o altre app di AI per includere previsioni basate sui dati come parte della pianificazione del flusso di cassa. Liquidity Analytics Il modulo Liquidity Planning si combina con il modulo Liquidity Analitycs di Kyriba per supportare in maniera completa le pratiche di pianificazione di liquidità. Liquidity Analytics arricchisce la previsione di cassa con i dati di liquidità dai moduli Investimenti e Debito di Kyriba, presentando i dati attraverso cruscotti pre-integrati che rendono la previsione spendibile. Insieme, i moduli Liquidity Planning e Liquidity Analytics unificano i dati di cassa e liquidità, così da offrire dati e analisi per ottimizzare le decisioni sulla liquidità.

15 dicembre | Ore: 12:00 - 13:00 | Quali sono le strategie predittive e le strategie migliori per gestire i dati finanziari? Scoprilo il prossimo 15 dicembre nella diretta streaming! Assieme ai nostri esperti...

15 dicembre | Ore: 12:00 - 13:00 | Quali sono le strategie predittive e le strategie migliori per gestire i dati finanziari? Scoprilo il prossimo 15 dicembre nella diretta streaming! Assieme ai nostri esperti vedrai nel concreto come il digitale può fronteggiare scenari economici imprevedibili con analisi di liquidity planning sempre più data driven e predittive. Nel contesto macroeconomico estremamente incerto in cui ci troviamo, infatti, le aziende hanno sempre più bisogno del digitale per continuare a crescere e prendere decisioni più oculate che possono letteralmente salvare il business.

Kyriba è un'applicazione completamente certificata SWIFT per la gestione di cassa e i pagamenti che offre la funzione multi-bank Connectivity-as-a-Service integrata nella piattaforma cloud di gestione della liquidità di Kyriba, leader del mercato per...

Kyriba è un'applicazione completamente certificata SWIFT per la gestione di cassa e i pagamenti che offre la funzione multi-bank Connectivity-as-a-Service integrata nella piattaforma cloud di gestione della liquidità di Kyriba, leader del mercato per tesorieri e CFO. SWIFT Alliance Lite2 per le imprese Kyriba ha completamente integrato nella propria piattaforma cloud lo SWIFT Alliance Lite2, che consente un’automazione completa e un trattamento automatizzato dei pagamenti aziendali. La rendicontazione bancaria, i pagamenti e l’invio di altri messaggi SWIFT non richiedono interventi da parte della squadra IT aziendale. A chi è destinato il servizio? Clienti che desiderano gestire l’amministrazione di BIC, utenti e RMA Keys, ma che intendono anche esternalizzare la trasformazione e la gestione del formato bancario, monitorando al contempo le connessioni bancarie. SWIFT Service Bureau Grazie a SWIFT Service Bureau, Kyriba offre ai propri clienti la gestione completa del BIC SWIFT. Mentre l’investimento iniziale potrebbe, su base mensile, risultare leggermente superiore rispetto ad Alliance Lite2, il costo totale della titolarità potrebbe essere molto inferiore, a seconda del profilo di connettività di cui si dispone. Kyriba fornisce inoltre alle aziende un servizio unico per la migrazione da un altro fornitore al suo SWIFT Service Bureau. A chi è destinato il servizio? Clienti con elevati volumi di banche, transazioni, pagamenti e conti bancari Clienti che desiderano un servizio SWIFT totalmente gestito Il 22% dei BIC SWIFT aziendali è gestito da Kyriba Il 25% dei clienti Kyriba sta utilizzando SWIFTNet MT Concentrator Servicedi Kyriba Ai clienti che desiderano un avvio rapido dell’utilizzo delle rendicontazioni bancarie SWIFT, il servizio MT Concentrator di Kyriba consente di usare un BIC11 SWIFT appositamente fornito loro da Kyriba. Il costo del servizio di rendicontazione bancaria dipende dal numero di conti da gestire e offre flessibilità, benefici sui costi e onboarding rapido, con accesso potenzialmente a tutte le banche membre di SWIFT. Centinaia di clienti Kyriba si sono già iscritti al servizio. SWIFT GPI per le imprese* SWIFT GPI migliora l’esperienza del cliente per quanto riguarda i pagamenti transfrontalieri, aumentandone la velocità, la trasparenza e la tracciabilità end-toend. Ogni giorno, centinaia di migliaia di pagamenti transfrontalieri vengono eseguiti utilizzando il nuovo standard GPI. Kyriba è certificato per lo SWIFT GPI per le imprese. Riduzione delle indagini sui pagamenti Grazie alla tracciabilità end-to-end e alla conferma del credito, SWIFT GPI offre una visibilità totale durante tutto il ciclo del pagamento. Miglioramento del rapporto con i fornitori Allegando il riferimento di tracciamento univoco a ogni pagamento, è possibile garantire la trasparenza dei pagamenti e mantenere attivo il proprio flusso di commercio. Velocizzazione della riconciliazione delle fatture I dati di pagamento gestiti tramite SWIFT GPI restano inalterati, rendendo molto più semplice la riconciliazione. Maggiori efficienze di capitale La circolazione più rapida del denaro e la maggiore trasparenza consentono di migliorare la previsione di cassa e di ottimizzare la liquidità. *Fonte: SWIFT “Naval Group si impegna a mantenere la conformità agli standard più elevati e la nuova offerta SWIFT GPI di Kyriba consente al nostro team di rafforzare la tracciabilità e la trasparenza dei nostri pagamenti, così da permetterci di ampliare la nostra posizione di leader in Europa nella difesa navale”. David Livi, Vice President of Treasury and Financing at 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 Receivables Finance—Kyriba’s new working capital solution. Turn Accounts Receivable...

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 Receivables Finance—Kyriba’s new 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.

Con le nuove norme di contabilizzazione delle operazioni di leasing ormai alle porte, i team di tesoreria e contabilità devono affrontare un significativo sforzo manuale per identificare, tracciare, contabilizzare e revisionare le operazioni di...

Con le nuove norme di contabilizzazione delle operazioni di leasing ormai alle porte, i team di tesoreria e contabilità devono affrontare un significativo sforzo manuale per identificare, tracciare, contabilizzare e revisionare le operazioni di leasing, per soddisfare le norme di contabilizzazione internazionali e/o locali come l’IFRS16 e l’ASC842. Kyriba può aiutare a garantire la conformità nella contabilizzazione dei leasing offrendo un portale cloud centralizzato per consolidare la rendicontazione dei leasing, classificarli secondo le nuove regole contabili, calcolare il valore dei loro componenti e contabilizzare accuratamente le registrazioni contabili nei conti del bilancio. Il modulo di Lease Accounting di Kyriba può essere sottoscritto insieme a soluzioni per cassa e liquidità, pagamenti, gestione del rischio e capitale circolante, o implementato come soluzione indipendente nel cloud. Le norme sulla contabilizzazione delle operazioni di leasing IFRS16 e ASC842 sono entrate in vigore il 1° gennaio 2019. Acquisizione del leasing • Importazione dei leasing • Copia/incolla da Excel • Allegati al documento • Classificazione come leasing operativi o finanziari LE CARATTERISTICHE PRINCIPALI DEL MODULO DI LEASE ACCOUNTING DI KYRIBA INCLUDONO Scheda informativa Gestione del leasing • Calcolo dei tassi impliciti nei leasing • Personalizzazione del piano dei tassi d'interesse effettivi • Relazioni complete dei componenti del leasing, inclusi il valore residuo e le perdite stabilite • Monitoraggio dell’estinzione anticipata, delle estensioni e della restituzione /acquisto/rinnovo dei leasing

Speaker: Abhijit Prasad, SVP Working Capital Finance, Kyriba The trade financing gap has hit new heights during Covid-19, and SMEs are the hardest hit globally. Kyriba, an enterprise liquidity management platform, has recently launched...

Speaker: Abhijit Prasad, SVP Working Capital Finance, Kyriba The trade financing gap has hit new heights during Covid-19, and SMEs are the hardest hit globally. Kyriba, an enterprise liquidity management platform, has recently launched its Working Capital Solutions, an attempt to close that gap. IBS’s Reporter Gaia Lamperti asked Abhijit Prasad, SVP Working Capital Finance at Kyriba more insights into this new product and the current state of supply chain finance.

L'ottimizzazione del capitale circolante è un obiettivo strategico per i CFO che cercano di generare valore sulla bottom line e migliorare i flussi di cassa. Kyriba offre ai CFO due grandi benefici: la possibilità...

L'ottimizzazione del capitale circolante è un obiettivo strategico per i CFO che cercano di generare valore sulla bottom line e migliorare i flussi di cassa. Kyriba offre ai CFO due grandi benefici: la possibilità di incrementare il working capital e la possibilità di incrementare l'utile netto.

Emergenze sanitarie, Crisi economiche e geopolitiche continuano a mettere a dura prova le aziende in Italia e all’estero. I principali impatti si manifestano sulle piccole e medie imprese che sempre più hanno difficoltà nell’accesso...

Emergenze sanitarie, Crisi economiche e geopolitiche continuano a mettere a dura prova le aziende in Italia e all’estero. I principali impatti si manifestano sulle piccole e medie imprese che sempre più hanno difficoltà nell’accesso al credito e risentono pesantemente delle dilazioni dei termini di incasso.

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 provides comprehensive solutions for FX exposure management, mark-to-market, and  derivative and hedge accounting to support corporate hedging programs and facilitate regulatory compliance. The solutions allows fast, automated valuation postings across your entire portfolio, saving you time and speeding up your financial close. Kyriba's Risk Management solution offers regulatory compliance for FASB, IAS, ASC, and IFRS derivative accounting standards. With a team of FX experts, Kyriba offers FX Advisory Services to help you navigate complex regulatory standards with ease. Kyriba's solutions are built to meet the depth and complexity that modern organizations require for hedging and accounting. Kyriba's FX Risk Management solution also seamlessly integrates with its cash management, liquidity forecasting, payments and analytics with global bank connectivity coverage. With Kyriba, you no longer need to rely on multiple systems to achieve your hedging goals. The cloud-based SaaS platform simplifies the support for your hedging program, but offers premium product performance, managed upgrades and eliminates IT dependencies. Kyriba's in-house developed accounting engine generates structured accounting entries, full audit trails, and automates financial reporting and controls. This ensures that your accounting processes are efficient, accurate, and comply with regulatory standards. Kyriba automates the mark-to-market process to calculate valuations for all derivatives. The valuation engine allows clients to run valuations across their entire portfolio whenever needed during the month. Valuations use market rates and curves from Kyriba’s Market Data service, while market information can also be accessed from third-party platforms. Kyriba’s audit logs and information storage offer complete transparency to the valuation process. Watch this video to get an overview. If you are interested to learning more about how to automate seamlessly across your FX management process? Check out Kyriba's latest demo session and see how Kyriba helps its clients mitigate the effects of currency volatility and reduce hedging costs.

Con ICD e Kyriba che portano la tesoreria in tempo reale a un livello superiore, la nostra organizzazione è in grado di prendere decisioni di investimento sulla base di dati aggiornati sui conti, sulla disponibilità dei fondi e sui dati di mercato.

"Con ICD e Kyriba che portano la tesoreria in tempo reale a un livello superiore, la nostra organizzazione è in grado di prendere decisioni di investimento sulla base di dati aggiornati sui conti, sulla disponibilità dei fondi e sui dati di mercato. Da un'unica piattaforma possiamo poi completare il trasferimento dei fondi a qualsiasi conto, creando un'efficienza mai vista prima". David Miller Tesoriere e SVP, Hunt Companies Costantemente alle prese con nuovi requisiti di dati e reportistica a supporto del business, le organizzazioni di tesoreria si rivolgono alle moderne tecnologie per ottenere maggiore visibilità, accuratezza e velocità. Sfruttando l'API di Kyriba, ICD crea un flusso di lavoro end-to-end senza soluzione di continuità che consente ai clienti di ottenere il controllo dei processi di gestione della liquidità e degli investimenti. Le sfide principali per la Tesoreria Piattaforme e login multipli per gestire gli investimenti Mancanza di una visione unificata delle posizioni di cassa Reporting e analisi separati basati su dati non sincronizzati Rischi operativi derivanti dai processi manuali di negoziazione e pagamento Processi manuali per risolvere i problemi Vantaggi della tesoreria in tempo reale Connettività SSO dalla mappa del flusso di lavoro di Kyriba, come parte del lavoro quotidiano del tesoriere. Miglioramento del processo decisionale con dati in tempo reale Liquidazione automatizzata delle transazioni per ridurre i processi manuali Riduzione dei rischi operativi e finanziari grazie all'automazione dei processi Spazzate giornaliere automatizzate per massimizzare il rendimento della liquidità in eccesso ICD è il portale indipendente e di fiducia della tesoreria per i fondi del mercato monetario e altri investimenti a breve termine. Il suo servizio eccezionale e la sua tecnologia intuitiva facilitano alle organizzazioni l'accesso e la partecipazione ai mercati monetari. "Garantire efficienza, sicurezza e flussi di lavoro semplificati è stata la pietra miliare dell'impegno di ICD nei confronti dei nostri clienti. Grazie al single sign-on e alla profonda integrazione con Kyriba, i nostri clienti comuni limitano il rischio e aggiungono efficienza ai loro processi di gestione del contante e della liquidità." Sebastian Ramos EVP, Global Trading and Products, ICD Ultimo aggiornamento: Hunt Companies è stata premiata nel dicembre 2022 con un Alexander Hamilton Award 2023 per la gestione della liquidità, utilizzando ICD Portal per gli investimenti a breve termine e l'integrazione di ICD e Kyriba API per la visibilità in tempo reale della liquidità.

Per aziende caratterizzate da attività di finanziamento, approvvigionamento, FX o gestione di cassa e liquidità complesse, provvedervi senza l'aiuto della tecnologia può risultare quantomeno difficoltoso.

Per aziende caratterizzate da attività di finanziamento, approvvigionamento, FX o gestione di cassa e liquidità complesse, provvedervi senza l'aiuto della tecnologia può risultare quantomeno difficoltoso. La piattaforma In-House Banking (IHB) di Kyriba fornisce alle organizzazioni il controllo necessario per definire accordi di concentrazione, pooling, intersocietari e di netting ottimali e avere accesso a più liquidità più rapidamente e con costi minori. Grazie alle funzionalità di IHB di Kyriba, sarai in grado di fornire servizi bancari interni a tutte le tue business unit. La struttura flessibile dei dati di Kyriba consente ai clienti di personalizzare i propri account, entità, strutture e flussi di lavoro in base alle esigenze dell'azienda. Ai nostri clienti offriamo la possibilità di una concentrazione di cassa efficiente, di cash pooling che supporta pool multi-valuta, di strutture regolate e non regolate e di gerarchie di netting multi-livello. Caratteristiche principali e vantaggi di IHB Kyriba consente di migliorare la visibilità e il controllo sulla cassa con il modulo In-House Banking, ricco di funzionalità e in grado di agevolare l'accesso ai cash pool, riducendo i costi complessivi dei cicli attivi e passivi. I nostri clienti possono passare dai saldi a un dato momento o di fine mese a una visibilità di cassa in tempo reale. Ciò permette loro di generare previsioni di cassa più accurate e prendere decisioni basate sui dati più precisi. La nostra soluzione IHB aumenta l'efficienza grazie alla riduzione del numero di conti correnti bancari fisici e al reporting consolidato delle tesorerie regionali o dei centri transazionali finanziari. Indipendentemente dal fatto che il cash pooling o la concentrazione di cassa siano gestiti direttamente dalla banca o internamente, l'applicazione di Kyriba registra e tiene traccia automaticamente di tutti i movimenti di attività bancaria interna IHB derivanti dalle strutture di pooling fisiche o nozionali. Tra le funzionalità principali: Pooling e concentrazione: Le nostre funzionalità migliorano la visibilità e i vantaggi della cassa centralizzata in tempo reale, con un dashboard snello ed efficiente che consente di visualizzare la cassa globale. Le transazioni IHB vengono generate da transazioni di cassa e non di cassa. Accordi POBO (payments-on-behalf-of, pagamenti per conto di): IHB esegue i pagamenti per conto delle società operanti, addebitandoli ai loro conti intersocietari. Accordi ROBO (receipt-on-behalf-of, incasso per conto di): Il conto bancario di IHB riceve i pagamenti a nome delle società operanti e li accredita sui loro conti intersocietari. Reporting e tracciamento in tempo reale: Visualizza tutti i saldi IHB per società controllata e coppia di valute (se applicabile). Le società affiliate possono richiedere i propri saldi interni ed esterni, gli estratti conto e i rendiconti degli interessi, oltre alle transazioni interne. Prestiti intersocietari Gli utenti di Kyriba possono sfruttare le funzionalità di prestito intersocietario che permettono alle organizzazioni di tenere traccia e contabilizzare accordi di prestito strutturato con scadenze flessibili, principali e dei tassi di interesse e programmazione degli eventi relativi al rapporto di prestito. Tutta la contabilità viene automaticamente riportata nel libro mastro, accantonamenti e ammortizzazioni inclusi. Calcolo degli interessi Tra compagnie controllanti e controllate vengono gestiti tassi d'interesse strutturati in condizioni di "at arm's length" (tra società senza rapporti in essere) per consentire il calcolo degli introiti o delle spese per gli interessi delle posizioni inserite nel sistema IHB. Gli interessi sono calcolati sulla base di piani interni o di mercato in maniera flessibile e dinamica per supportare anche gli accordi sugli interessi particolarmente complessi. A società controllate diverse possono essere applicati tassi diversi, così come tassi differenti sono utilizzati per i saldi a debito e quelli a credito. Netting multilaterale automatizzato Moduli specializzati nel netting multilaterale che si integrano con IHB di Kyriba gestiscono i flussi delle diverse entità. Alcune di queste sono: Netting interaziendale: Kyriba centralizza tutti i flussi tramite la banca interna per semplificare la struttura dei pagamenti e ridurne il volume, riducendo così i tempi di elaborazione e i costi complessivi. Pagamenti e riscossioni da terzi: Kyriba integra automaticamente le fatture in entrata e in uscita, consente di effettuare la riconciliazione interaziendale e calcola le posizioni di debito e di credito per tutte le società controllate. Regolazione dei pagamenti automatica: Con IHB è possibile attivare sia i movimenti fisici (di cassa) sia quelli non di cassa. Semplificazione tramite la centralizzazione Grazie alle funzionalità di IHB di Kyriba, sarai in grado di fornire servizi bancari a tutte le tue business unit e al tempo stesso ridurre il numero di conti correnti e di rapporti bancari. La nostra soluzione IHB fornisce un'entità operante in cui vengono eseguite tutte le transazioni, centralizzando così i flussi e i saldi. Immagina di poter semplicemente inviare un unico, grande pagamento in un'unica valuta, che sia poi distribuito a tutti i tuoi fornitori nel mondo nella valuta di loro preferenza. Scopri come le funzionalità di IHB di Kyriba possono aiutarti a generare risultati efficienti in termini di costi e di valore per la finanza e la tesoreria della tua organizzazione richiedendo una demo.

Ti invitiamo a partecipare a "How Can Companies Prepare for Economic Volatility?",un webinar gratuito ospitato dal Financial Times, in collaborazione con Kyriba. Questo virtual panel riunirà leader aziendali e relatori per esplorare come le...

Ti invitiamo a partecipare a "How Can Companies Prepare for Economic Volatility?",un webinar gratuito ospitato dal Financial Times, in collaborazione con Kyriba. Questo virtual panel riunirà leader aziendali e relatori per esplorare come le aziende possono ridurre l'esposizione, ottimizzare le operazioni finanziarie e utilizzare la tecnologia per prepararsi a una potenziale recessione.

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. 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. Kyriba Analytics and Dashboard Reporting Flexible and easy-to-customize reporting, analytics, and visual dashboards deliver end-to-end insight about exposures and designated hedge activity and performance. Kyriba supports market data integration from within the solution or from outside sources.   Learn more about Kyriba's solutions for commodities, valuation, and hedging. REQUEST A DEMO

La business intelligence di Kyriba va oltre il tradizionale reporting di gestione, offrendo una visualizzazione dei dati e un dashboarding interattivo per trasformare i dati finanziari in informazioni utili.

La business intelligence di Kyriba va oltre il tradizionale reporting di gestione, offrendo una visualizzazione dei dati e un dashboarding interattivo per trasformare i dati finanziari in informazioni utili.

Stefano Favale, Global Head of Global Transaction Banking e Sergio Dalla Riva, Head of Product Development Global Transaction Banking in Intesa Sanpaolo illustrano la scelta del principale gruppo bancario italiano di abbracciare Kyriba come...

Stefano Favale, Global Head of Global Transaction Banking e Sergio Dalla Riva, Head of Product Development Global Transaction Banking in Intesa Sanpaolo illustrano la scelta del principale gruppo bancario italiano di abbracciare Kyriba come fintech per la gestione della liquidità e delle integrazioni bancarie su scala globale. Un ecosistema integrato con gli istituti finanziari a forte connotazione innovativa, in ambito Supply Chain Finance, Cash Management e Treasury Management, capace di guardare agli sviluppi futuri del mercato.

Paolo Barroero, Head of Finance di TIM, principale gruppo italiano nel mondo telco condivide quali sono i vantaggi di gestire da un’unica piattaforma perfettamente integrata con i sistemi ERP strumenti intuitivi e user friendly...

Paolo Barroero, Head of Finance di TIM, principale gruppo italiano nel mondo telco condivide quali sono i vantaggi di gestire da un’unica piattaforma perfettamente integrata con i sistemi ERP strumenti intuitivi e user friendly per tutti gli attori della filiera su scala globale. Il potenziale senza limiti del cloud, per gestire al meglio tutte le funzionalità di Supply Chain Finance.

Damiano Cafiero, Group CFO e Maurizio Morelli, Global Treasury Manager di Arena, brand di performance sportiva, raccontano le motivazioni alla base della scelta di affidarsi a Kyriba per gestire la connettività bancaria. Grazie alle...

Damiano Cafiero, Group CFO e Maurizio Morelli, Global Treasury Manager di Arena, brand di performance sportiva, raccontano le motivazioni alla base della scelta di affidarsi a Kyriba per gestire la connettività bancaria. Grazie alle funzioni di Bank Connectivity, Risk Management e Pagamenti, il brand riesce a gestire al meglio le attività global, migliorando la performance aziendale e limitando i rischi dovuti al tasso di cambio.

Giangaddo Prati, CFO e CIO di Barilla, discute il ruolo in continua evoluzione del CFO e della Tesoreria nel mercato odierno con Andrea Delvo, Managing Director di Kyriba Italia. Prati condivide le sue opinioni...

Giangaddo Prati, CFO e CIO di Barilla, discute il ruolo in continua evoluzione del CFO e della Tesoreria nel mercato odierno con Andrea Delvo, Managing Director di Kyriba Italia. Prati condivide le sue opinioni sulle sfide uniche dell'industria alimentare durante questi periodi di supply chain disruption, spiegando come Barilla si stia avvicinando sempre di più alla "nuova normalità" e quali sono stati i fattori alla base della scelta di Kyriba per gestire le esigenze di supply chain finance e di tesoreria. "Certamente il fatto che Kyriba sia una piattaforma integrata per soluzioni di tesoreria, finanza e agenzie di servizi è stato un fattore principale che ha guidato la nostra scelta". Giangaddo Prati, CFO e CIO, Barilla

CFO e responsabili senior dei settori finanziari devono subire una continua pressione verso la generazione di flussi di cassa aggiuntivi e l'incremento del margine operativo lordo. Per aiutare i propri clienti aziendali e differenziarsi...

CFO e responsabili senior dei settori finanziari devono subire una continua pressione verso la generazione di flussi di cassa aggiuntivi e l'incremento del margine operativo lordo. Per aiutare i propri clienti aziendali e differenziarsi dalla concorrenza, un numero sempre maggiore di istituti finanziari ha preso a rivolgersi a fornitori di tecnologie finanziarie come Kyriba per creare programmi di supply chain finance white label. Grazie alla possibilità di essere integrate rapidamente negli ERP e in altri importanti sistemi di back-office, queste soluzioni hanno avuto grande successo nell'aiutare i CFO a estendere i termini per i pagamenti e a gestire meglio il working capital.

Maurizio Morelli, Global Treasury Manager di Arena, brand di performance sportiva, racconta le motivazioni alla base della scelta di affidarsi a Kyriba per gestire la connettività bancaria. Grazie alle funzioni di Bank Connectivity e...

Maurizio Morelli, Global Treasury Manager di Arena, brand di performance sportiva, racconta le motivazioni alla base della scelta di affidarsi a Kyriba per gestire la connettività bancaria. Grazie alle funzioni di Bank Connectivity e le integrazioni per la gestione dei pagamenti, il brand riesce a ridurre al minimo i rischi finanziari, migliorando la gestione dei propri reparti finance a livello globale.

Sergio Dalla Riva, Head of Product Development Global Transaction Banking in Intesa Sanpaolo illustra la scelta del principale gruppo bancario italiano di abbracciare Kyriba come fintech per la gestione di Supply Chain Finance, Cash...

Sergio Dalla Riva, Head of Product Development Global Transaction Banking in Intesa Sanpaolo illustra la scelta del principale gruppo bancario italiano di abbracciare Kyriba come fintech per la gestione di Supply Chain Finance, Cash Management e Treasury Management. Una scelta che premia Kyriba per essere un ecosistema integrato con gli istituti finanziari a forte connotazione innovativa capace di sostenere gli sviluppi futuri del mercato.

Questo documento include le informazioni più recenti sulla linea di prodotti di Kyriba, il suo funzionamento e sulla sua interfaccia con i clienti e i partner. Kyriba opera in un ambiente dinamico, per questo...

Questo documento include le informazioni più recenti sulla linea di prodotti di Kyriba, il suo funzionamento e sulla sua interfaccia con i clienti e i partner. Kyriba opera in un ambiente dinamico, per questo motivo, aggiorna e potenzia costantemente i suoi prodotti e i suoi sistemi. Di conseguenza, alcune informazioni contenute nel presente documento potrebbero nel frattempo essere state modificate, alterate o eliminate a seguito del continuo miglioramento dei sistemi, dei servizi e dell'assistenza offerti da Kyriba. Questo documento viene rivisto con cadenza annuale e ripubblicato dietro controllo di versione.

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

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 with Cash Visibility: 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 About Dana-Farber Cancer Institute Dana-Farber is a principal teaching affiliate of Harvard Medical School and federally designated a Comprehensive Cancer Center that develops and disseminates innovative patient therapies and scientific discoveries throughout the world. Since 1948, the Jimmy Fund has raised millions of dollars through thousands of community efforts to advance Dana-Farber’s lifesaving mission.

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

Kyriba offre una piattaforma di gestione integrata della liquidita’ aziendale basata interamente su cloud che fornisce una visibilita’ di cassa completa e un insieme di potenti funzionalita’ che permettono di ottimizzare la liquidita’ aziendale,...

Kyriba offre una piattaforma di gestione integrata della liquidita’ aziendale basata interamente su cloud che fornisce una visibilita’ di cassa completa e un insieme di potenti funzionalita’ che permettono di ottimizzare la liquidita’ aziendale, agevolare i processi di business e migliorare i risultati finanziari dell’azienda.

Payments fraud continues to be a top concern for organizations. According to a recent US companies and B2B payment fraud survey report published by Trustpair and Giact, 56% of US companies were targeted by...

Payments fraud continues to be a top concern for organizations. According to a recent US companies and B2B payment fraud survey report published by Trustpair and Giact, 56% of US companies were targeted by B2B payment fraud in 2022 and 82% of senior leaders consider fraud prevention to be a top priority for 2023. CFOs and treasurers clearly require a more complete set of payments controls to stop fraud altogether. Kyriba’s Payments Fraud Detection module extends the effectiveness of standard payments controls to include real-time detection to stop suspicious payments in their tracks. The module, the first of its kind in the industry, includes customized scoring, centralized alerts, complete resolution workflow management, and data visualization through a drilldown KPI dashboard. Payments Fraud Detection Scenarios Kyriba’s Payments Fraud Detection capabilities allow users to set predefined detection rules to screen for suspicious payments requiring further attention, such as: Transfer to a beneficiary’s bank account located in a blacklisted country or a country not on the whitelist International payment made to a country where the company has no known supplier or operations Multiple payments that, in combination, exceed a soft or hard payment limit Changes to a payment that was imported from an ERP The first payment to a bank account for an existing vendor Payments inconsistent with the amounts or dates of the payment history Payments to one bank account used by several vendors During setup, authorized users will determine which detection scenarios should be employed to prevent transmission to the bank until fully resolved. Kyriba’s Payments Fraud Detection module extends the effectiveness of standard payments controls to include real-time detection to stop suspicious payments in their tracks. Real-Time Alerts and Notifications Kyriba users can customize the Payments Fraud Detection dashboard to display all suspicious payments and prioritize their resolution, based on KPIs such as detection rule, risk exposure, incident counts, and a fraud detection scorecard. Dashboards feature the ability to drill down so authorized users have complete transparency in all payment screening and can resolve outstanding actions efficiently. Payments Fraud Prevention Workflow The module also supports an end-to-end workflow for the resolution of outstanding suspicious payments. In addition to customizing alerts within the KPI dashboard, users can also determine how each detected payment should be managed. For example, payments to countries within Asia are tracked but not prevented from transmitting to the bank. A payment to North Korea, on the other hand, may be stopped instantly until further investigation. The Resolution Workflow Separation of duties between the payment initiator, the payment approver and the reviewer of a detected payment Designation of reviewer(s) by payment rule and specific payment scenario (e.g., payments over $1M are sent to the treasurer for review) Ability to assign non-treasury personnel to review certain detected payments Option to hide alerts from initiators/approvers of the detected payment Scenario-based determination for stopping payments until resolved by designated users Use of Artificial Intelligence Machine learning algorithms are used within the Fraud Detection module to identify suspicious payments. Based on user tolerances, outgoing payments are compared against historical payment patterns, with suspect payments quarantined for further review. Bank Account Validation Kyriba is interfaced with partners that perform onetime and recurring validation of account ownership to confirm recipient bank account information and add an additional layer of fraud detection and payment validation. Checks can be performed within the ERP and for outgoing payments. Reporting and Audit Trails Kyriba’s Payment Fraud Detection module offers complete KPI reporting so that detected payments are permanently tracked in the system for daily, monthly, or annual reporting. History is maintained indefinitely and all details of the suspicious transaction—including the audit trail of detected and resolved actions—are retained for internal and external audit reporting.  

Le moderne minacce di frode sono innovative e in continua evoluzione. Per affrontare queste minacce, le organizzazioni che vogliono sopravvivere devono implementare le soluzioni di rilevamento e prevenzione più aggiornate.

Le moderne minacce di frode sono innovative e in continua evoluzione. Per far fronte a queste minacce, le organizzazioni che vogliono sopravvivere devono implementare le più aggiornate soluzioni di rilevamento e prevenzione delle frodi nei pagamenti. In questo eBook esploreremo le minacce di frode più comuni per le aziende di oggi e descriveremo nel dettaglio gli strumenti leader basati sull'intelligenza artificiale che i CFO e i CIO possono utilizzare per bloccare gli attacchi prima che si verifichino. Esploreremo i modi in cui le soluzioni Kyriba proteggono i nostri clienti e vi trasmetteremo queste conoscenze. Analizzeremo anche strumenti come l'intelligenza artificiale e l'apprendimento automatico (AI/ML) e le interfacce di programmazione delle applicazioni (API) che cambiano le carte in tavola nella lotta contro le frodi. Noi comprendiamo e utilizziamo queste tecnologie ed è ora che lo facciate anche voi. Il volto mutevole della frode Le minacce di frode sono cresciute in modo esponenziale durante la pandemia COVID-19, poiché l'ambiente di lavoro remoto ha lasciato le aziende in difficoltà nel garantire che i dipendenti seguissero rigorosi protocolli di sicurezza. Secondo un'indagine KPMG del 2022 condotta su oltre 600 dirigenti, il passaggio al lavoro a distanza ha aumentato il rischio di frode e l'anno scorso la maggior parte delle aziende ha subito incidenti di frode. FRAUD OUTLOOK Fonte: 2022 KPMG Fraud Outlook Le perdite derivanti dalle frodi sono significative. Gli intervistati hanno riferito una perdita media di profitto dell'1% dovuta a frodi e violazioni della conformità nel 2021. E più l'azienda è grande, più i criminali la prenderanno di mira. Necessità di investimenti e attenzione da parte delle aziende Con la pandemia che continuerà nel prossimo futuro e che metterà a dura prova la capacità delle organizzazioni di operare e di impiegare il personale in modo efficace per contrastare la crescente minaccia di frode, è sorprendente che oltre la metà delle aziende intervistate dichiari che non ci saranno cambiamenti nei loro budget per investire in misure antifrode. Con meno della metà delle organizzazioni che oggi hanno un programma in atto per prevenire, rilevare e rispondere alle frodi, è evidente che è necessario concentrarsi su maggiori investimenti nelle loro protezioni. I CFO, i tesorieri e i CIO hanno chiaramente bisogno di una serie di difese più complete sotto forma di un nuovo sistema di rilevamento delle frodi automatizzato basato sull'intelligenza artificiale. Minacce di frode pervasive ed emergenti Le truffe via e-mail continuano ad affliggere i dipartimenti di tesoreria e finanza. Le truffe BEC iniziano tipicamente con un'e-mail urgente inviata a un dipendente che sembra provenire da un funzionario di alto livello, con la richiesta di un trasferimento di denaro. In realtà, un truffatore ha copiato un indirizzo e-mail legittimo, di solito dopo essersi infiltrato nel sistema di posta elettronica di un'azienda tramite phishing. Una variante di questa truffa consiste nell'invio di fatture via e-mail che sembrano provenire da un fornitore abituale e che contengono nuove istruzioni su dove inviare il pagamento. Secondo la Cyber Division dell'FBI, dal 2019 al 2020 si è registrato un aumento del 5% delle perdite di BEC, con oltre 1,7 miliardi di dollari di perdite registrate nel 2019 e oltre 1,8 miliardi di dollari nel 2020. Frode con assegni e bonifici rimane un problema significativo per i dipartimenti di tesoreria e finanza, in quanto questi sono i metodi di pagamento più suscettibili di frode. La ricerca AFP ha rilevato che il 66% e il 39% dei professionisti della finanza hanno segnalato attività di frode attraverso questi due tipi di pagamento nel 2020. Tuttavia, negli ultimi anni le frodi legate agli assegni sono diminuite, poiché un numero minore di organizzazioni utilizza gli assegni per i pagamenti B2B. Frode vocale deepfake è un metodo di attacco relativamente nuovo, ma che si è dimostrato molto efficace. Questo tipo di frode consiste nell'effettuare chiamate utilizzando la tecnologia deepfake voice, un software in grado di copiare con successo la voce di una persona attraverso un piccolo campione audio. VULNERABILITÀ COMUNI PER LE ORGANIZZAZIONI La frode vocale Deepfake ha attirato l'attenzione internazionale l'anno scorso, quando è stato rivelato che i truffatori l'hanno utilizzata per portare a termine una rapina in banca da 35 milioni di dollari. Attacchi ransomware, anche se non sono tecnicamente frodi, sono comunque minacce importanti per i sistemi e i conti bancari delle aziende e sono aumentate negli ultimi anni. In un attacco ransomware, il sistema interno di un'azienda viene compromesso (di solito tramite phishing) e preso in consegna. Agli utenti viene chiesto di pagare un riscatto o di perdere definitivamente l'accesso ai propri sistemi. Il ransomware come servizio (RaaS) è l'ultima innovazione di questa minaccia; consiste nella vendita o nell'affitto di exploit ransomware da parte degli sviluppatori ai clienti, che poi li scatenano contro le sfortunate vittime. Strumenti di protezione contro le frodi Per combattere le minacce di oggi, le vostre soluzioni di prevenzione e rilevamento delle frodi nei pagamenti dovrebbero includere queste funzionalità: Processi di pagamento automatizzati per standardizzare i controlli Screening in tempo reale di tutti i dati relativi ai pagamenti per identificare le transazioni sospette Regole di screening dei pagamenti definite dall'utente Flusso di lavoro di risoluzione per indagare sui pagamenti sospetti Un'opzione per evitare di avvisare gli utenti che hanno violato una regola sui pagamenti Monitoraggio dello stato e della priorità degli avvisi in un cruscotto KPI I moderni software di rilevamento delle frodi nei pagamenti, come il modulo Payments Fraud Detection di Kyriba, offrono queste e altre soluzioni. Screening, avvisi e notifiche in tempo reale L'aumento dei sistemi di pagamento in giornata e in tempo reale ha aumentato la necessità di risposte in tempo reale ai tentativi di frode. I moderni software di rilevamento delle frodi utilizzano l'intelligenza artificiale (AI) e l'apprendimento automatico per analizzare i pagamenti rispetto ai dati storici, individuando eventuali anomalie. Fornendo dati più completi, queste soluzioni consentono di prendere decisioni basate sui dati. Ad esempio, la soluzione Payment Fraud Detection di Kyriba determina la normalità di ogni pagamento, sia esso automatico o manuale, segnalando quelli con un basso grado di normalità. La soluzione fornisce informazioni sulle variabili che determinano la normalità dei pagamenti, consentendo agli utenti di capire perché uno o più pagamenti sono stati considerati anomali. L'aspetto forse più vantaggioso per l'utente è che i processi non vengono in alcun modo rallentati, anche con una maggiore visibilità sui dati dei pagamenti. I pagamenti possono essere segnalati come anomali per una serie di motivi, tra cui: Un numero elevato di pagamenti per la stessa terza parte Pagamenti con importi insolitamente elevati Pagamenti a paesi inseriti nella lista nera secondo la politica aziendale Modifiche sospette ai pagamenti importati da un ERP Pagamenti su un conto bancario utilizzato da più parti terze Pagamenti duplicati Dopo aver testato diversi modelli di apprendimento automatico, i data scientist di Kyriba hanno selezionato due soluzioni per identificare le irregolarità nei pagamenti. Isolation Forest Un modello di Isolation Forest è un algoritmo non supervisionato che funziona secondo il principio dell'isolamento delle anomalie; le istanze anomale in un set di dati tendono a essere più facili da separare dal resto del campione. Nell'esempio seguente, si può notare che le anomalie richiedono meno partizioni casuali per essere isolate, rispetto ai punti normali: Rete avversaria generativa Un problema in cui molti modelli di apprendimento automatico si imbattono quando cercano di identificare le frodi è la mancanza di dati sulle frodi. La maggior parte delle organizzazioni non ha sperimentato frodi significative nei pagamenti e quindi non ha una quantità di esempi da condividere. Altri che sono stati vittime di frodi possono essere riluttanti o incapaci di condividere i dettagli. L'addestramento di modelli di intelligenza artificiale può quindi essere impegnativo, perché gli algoritmi possono imparare solo dai pagamenti buoni e, al massimo, da una manciata di quelli cattivi. Le reti generative avversarie (GAN) possono risolvere questo problema. Una GAN è un modello di apprendimento profondo che mette due reti neurali separate l'una contro l'altra. Una rete (il generatore) mescola dati reali e dati sintetici e cerca di superare la rete avversaria (il discriminatore). Kyriba crea una rete "truffaldina" (il generatore), che nasconde frodi sintetiche tra le transazioni legittime basate sulla cronologia dei pagamenti di un cliente. Poi, una rete di "polizia" (il discriminatore) passa al setaccio i dati, separando le transazioni illecite da quelle buone. Addestrando il modello di rilevamento delle frodi su queste reti concorrenti, Kyriba può identificare meglio le transazioni fraudolente quando visualizza i dati reali. Modello di rete avversaria generativa (GAN) Dashboard I dashboard possono essere impostati per visualizzare tutti i pagamenti sospetti e dare priorità alla loro risoluzione, in base a fattori quali le regole di rilevamento, l'esposizione al rischio, il conteggio degli incidenti e una scorecard di rilevamento delle frodi. I dashboard forniscono agli utenti autorizzati una trasparenza completa su tutti gli screening dei pagamenti e possono risolvere le azioni in sospeso in modo efficiente. Flussi di lavoro per la prevenzione delle frodi nei pagamenti I moderni moduli di rilevamento delle frodi nei pagamenti supportano anche flussi di lavoro end-to-end completamente automatizzati per la risoluzione dei pagamenti sospetti in sospeso. Gli utenti possono anche stabilire come deve essere gestito ogni pagamento rilevato, applicando la separazione dei compiti tra chi inizia, chi approva e chi rivede un pagamento rilevato. I revisori possono anche essere determinati in base alle regole di pagamento e a uno scenario specifico (ad esempio, il responsabile della tesoreria esamina i pagamenti inferiori a 1 milione di dollari, mentre i pagamenti superiori a 1 milione di dollari vengono assegnati al tesoriere) e il personale non addetto alla tesoreria può essere incaricato di esaminare determinati pagamenti rilevati. Reporting e tracce di controllo Le soluzioni tecnologiche più avanzate possono garantire che i pagamenti sospetti rilevati siano permanentemente tracciati nel sistema per la rendicontazione giornaliera, mensile o annuale. La cronologia viene mantenuta a tempo indeterminato e tutti i dettagli della transazione sospetta, compreso l'audit trail delle azioni individuate e risolte, vengono conservati per i rapporti di audit interni ed esterni. Hub di pagamento Con un hub di pagamento, le organizzazioni hanno tutte le loro capacità di protezione dalle frodi in un unico luogo. Gli hub di pagamento consolidano i flussi di pagamento provenienti da ERP, finanza, tesoreria, ufficio legale, mercati dei capitali e team decentralizzati, trasformando processi disaggregati in un'unica fonte di registrazione per tutti i pagamenti in uscita. Un hub di pagamento trasforma inoltre i dati di pagamento in formati di file specifici per le banche e si connette direttamente con le banche globali tramite diversi protocolli, tra cui host-to-host, SWIFT e reti regionali. I pagamenti provenienti da ERP o da altri sistemi possono far rientrare l'intero panorama dei pagamenti aziendali in un quadro di rilevamento delle frodi sui pagamenti coerente e incentrato sul rischio. Grazie alle connessioni e all'integrazione basata su API e collegata a un flusso di lavoro per l'approvazione e il rilevamento e la prevenzione delle frodi nei pagamenti, i controlli e le frodi sono migliorati e facilmente governati. Hub di pagamento per il rilevamento delle frodi nei pagamenti Matrice di mitigazione delle frodi I professionisti della tesoreria e della finanza hanno a disposizione molti strumenti per il rilevamento delle frodi nei pagamenti. Il seguente elenco di soluzioni fornisce una panoramica di alcune delle funzionalità che gli strumenti odierni offrono per mitigare il rischio di frode. Matrice di mitigazione delle frodi Soluzione Protezioni chiave Capabilities Scenari di rilevamento delle frodi nei pagamenti Regole di rilevamento predefinite Segnala i pagamenti non convenzionali per un'ulteriore verifica Facile da personalizzare e da inventare con le proprie regole Screening in tempo reale Dashboard AI Esamina i pagamenti rispetto ai dati storici dei pagamenti Visualizza tutti i pagamenti sospetti e dà priorità alla loro risoluzione Flusso di lavoro per la prevenzione delle frodi nei pagamenti Flusso di lavoro completamente automatizzato Consente agli utenti di risolvere i pagamenti sospetti in sospeso Consente agli utenti di stabilire come gestire i pagamenti rilevati Impone la separazione dei compiti in relazione a un pagamento rilevato Designa i revisori in base alla regola di pagamento e allo scenario specifico Fornisce la possibilità di assegnare la revisione dei pagamenti a personale non appartenente alla Tesoreria. Offre la possibilità di nascondere gli avvisi ai promotori/approdatori di un pagamento Consente di bloccare i pagamenti in base allo scenario finché non vengono risolti Consente di bypassare i pagamenti di basso valore Impostazione di approvazioni a livelli Reporting e tracce di controllo Reportistica KPI completa I pagamenti rilevati sono tracciati in modo permanente nel sistema Lo storico viene mantenuto a tempo indeterminato API: Il futuro del rilevamento delle frodi nei pagamenti I pagamenti in tempo reale, che si stanno gradualmente diffondendo, offrono una visibilità e una trasparenza senza precedenti sia all'ordinante che al beneficiario. Tuttavia, una volta eseguita una transazione in tempo reale, non è possibile fermare il trasferimento di fondi. Pertanto, è necessario prevenire le frodi nel processo di approvazione prima che una richiesta di pagamento raggiunga la banca. La creazione di API nella piattaforma di pagamento consente agli utenti di automatizzare completamente la convalida del conto bancario e lo screening dei criteri di pagamento, identificando le eccezioni in tempo reale. Le API possono confrontare istantaneamente i pagamenti con i dati di terze parti; ad esempio, possono essere utilizzate per lo screening degli elenchi di sanzioni o per verificare la proprietà del conto bancario a cui l'azienda sta pagando. Utilizzando le API per l'integrazione di sistemi di terze parti con la vostra piattaforma di pagamento, la vostra organizzazione può garantire l'accesso in tempo reale a qualsiasi database necessario per la convalida del conto o della conformità. I pagamenti eccezionali possono essere immediatamente messi in quarantena per un'ulteriore verifica, mentre quelli non eccezionali vengono processati normalmente. Apprendimenti e risultati I CFO e i tesorieri hanno bisogno di una serie più completa di controlli sui pagamenti per mitigare le moderne minacce di frode, tra cui l'intelligenza artificiale/l'apprendimento automatico e le API. Le organizzazioni hanno tre aree comuni che le rendono vulnerabili alle frodi: sistemi tecnici, processi ed errori umani. Le minacce moderne includono le truffe con compromissione delle e-mail aziendali, le frodi con assegni, le frodi telematiche, le frodi vocali deepfake e i ransomware. Le tecnologie che possono essere utilizzate per combattere le frodi includono regole predefinite di rilevamento delle frodi; screening, avvisi e notifiche in tempo reale; flussi di lavoro per la prevenzione delle frodi nei pagamenti; reporting e audit trail; e hub di pagamento. Poiché le minacce continuano ad evolversi, i team di tesoreria e finanza devono aumentare la loro consapevolezza. Siete interessati a scoprire come costruire programmi di rilevamento delle frodi nei pagamenti e di risposta agli incidenti per massimizzare la protezione end-to-end? Date un'occhiata a questo webinar on-demand. Gli esperti di cybersecurity e frodi di Corelight e Kyriba illustrano le strategie di difesa dalle frodi.

Cosa imparerai da questo webinar: Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidita’ aziendale basata interamente su...

Cosa imparerai da questo webinar: Per le organizzazioni che desiderano ottimizzare i processi di business e migliorare i risultati finanziari dell’azienda, Kyriba offre una piattaforma di gestione integrata della liquidita’ aziendale basata interamente su cloud che fornisce una visibilita’ di cassa completa e un insieme di potenti funzionalita’ che permettono di ottimizzare la liquidita’ aziendale.

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 Exposure Reporting è una piattaforma di gestione dell'esposizione valutaria basata sul cloud che consente ai professionisti della tesoreria di misurare, monitorare e gestire dal proprio bilancio le esposizioni valutarie e il rischio associato.

Kyriba Exposure Reporting è una piattaforma di gestione dell'esposizione valutaria basata sul cloud che consente ai professionisti della tesoreria di misurare, monitorare e gestire dal proprio bilancio le esposizioni valutarie e il rischio associato.

Il ruolo delle piccole e medie imprese nell’Economia e nello Sviluppo. Le piccole e medie imprese (PMI) sono la spina dorsale delle economie e delle società in tutto il mondo.

Il ruolo delle piccole e medie imprese nell’Economia e nello Sviluppo. Le piccole e medie imprese (PMI) sono la spina dorsale delle economie e delle società in tutto il mondo.

Le aziende che attualmente usano il LIBOR come riferimento per i prezzi e i contratti finanziari hanno tempo fino al 31 dicembre 2021 per completare la transizione ai nuoviindici privi di rischio. A partire...

Le aziende che attualmente usano il LIBOR come riferimento per i prezzi e i contratti finanziari hanno tempo fino al 31 dicembre 2021 per completare la transizione ai nuoviindici privi di rischio. A partire dal 2018, Kyriba ha collaborato con gruppi di lavoro ufficiali, associazioni industriali, società di revisione contabile leader nel settore e altri attori del mercato in ogni regione interessata.

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. 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.

The quantified negative currency impact for North American and European companies has continued to impact MNCs negatively to the tune of $27.87 billion for Q3, 2021 and is increasing adversely when comparing the quarterly results of the past few years. The need for a process that mitigates foreign exchange risk becomes even more apparent when organizations experience impact spikes from volatility due to the global COVID-19 pandemic. Manufacturers first adopted Lean principles and processes where they needed them most: on the manufacturing floor. Revisiting Henry Ford’s flow production assembly line model, Kiichiro Toyota created the Toyota Production System (TPS) model, which propelled Toyota and the Japanese industry into a new age of productivity and global competitiveness. Toyota’s ideas have since been widely embraced and translated into concepts like Lean production and Six Sigma, who are common in global manufacturing. Companies and consultants who have demonstrated success using these approaches to eliminate wasteful processes and improve quality have extended them to other industries and other disciplines. While Six Sigma is a very scientific rigor around quality control, Lean looks to produce more with fewer resources and to help processes flow more smoothly. Lean, which tends to be less dogmatic than Six Sigma, describes a process for improvement and a set of workplace best practices. The management techniques include taking a long-term view of the business, as well as active mentorship of staff at all levels. There is great potential for companies who apply Lean and TPS principles to improving financial processes, as the guiding principle of Lean directly applies to the challenges faced by organizations trying to manage their FX risk. With little standardization and tedious, manual processes, there is a great opportunity for companies to focus more on value and eliminating waste. However, Lean is more about fixing a specific process. Lean practitioners outside Japan tend to focus heavily on specific analysis tools and omit critical elements of the best practices and management techniques. For Lean implementations to be successful, companies need to go beyond a specific project approach and integrate Lean as a guiding principle so that it can lead to continuous improvement. Applying Lean to Foreign Exchange Risk A growing number of companies in the U.S. are beginning to take a closer look at the principles of Lean and how they can help improve the costly, inefficient and often ineffective FX exposure management processes typical of most organizations today. By taking a methodical and disciplined approach, they are able to significantly reduce the time and effort spent aggregating, validating, and analyzing foreign currency data to make better risk mitigation decisions. Equally important, they create visibility to the entire process and support an environment that makes continuous improvement possible. Companies of all sizes with FX exposures can benefit from extracting and compiling their exposures from various systems whether they be ERPs, procurement or billing systems and applying Lean methodologies and processes to ensure hedging activities and other related processes like trading, confirmations, and settlements are all done as efficiently and effectively as possible with appropriate policies and procedures applied. Focus on Value and Eliminate Waste 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. Finance and IT must be partnered and work to assemble project teams with representatives from finance, treasury, and IT along with strong project sponsors to set sights on creating greater value and eliminating waste across the overall foreign exchange exposure management process. Finance and treasury, supported by IT, must methodically go through and aggregate transaction data from their ERP or other related systems to identify exposures and, in turn, deliver the capacity to make appropriate hedging decisions to mitigate risk. Pulling together regional experts and business unit representatives or various department leaders is a significant investment of resources, but it gives companies undergoing the exercise of streamlining FX and other processes exactly what was needed to gain visibility of the entire process, end to end. These cross-functional reviews often result in identifying manual processes required to pull together the data and validate results through the use of spreadsheets to calculate exposures. Once identified wasteful, manual processes are mapped out, it’s important to take the appropriate steps and have commitment from your executive leadership team and stakeholders to make the changes. For instance, the use of automation can cut the number of steps required to go from data aggregation to risk mitigation decision in half, while delivering greater transparency to the process as a whole. Assessing the Whole Value Stream Another tenet of Lean involves taking a holistic view of any process, considering the impacts and dependencies of other processes, both up and downstream. Manufacturing plants designed along Lean/TPS principles allow leadership to witness the entire process, end-to-end, from any place on the factory floor. To be effective, that same sense of transparency can be applied to the foreign exchange exposure management process. For many companies, finance is responsible for aggregating foreign currency transaction data from their ERP systems, which is then typically passed to treasury for appropriate risk management; whether it’s simply allowing the risk to reside on the balance sheet, as part of a natural hedge, actively managing the risk through a derivative and identifying how the impact to the income statement should be accounted for. Automation creates the bridge between data aggregation, validation, and analysis, so that both finance and treasury have visibility to detail and summarize views of the company’s currency exposures. As a result, discrepancies and potential errors become easier to spot, with instant visibility by every stakeholder in the process. That visibility extended beyond Treasury, Finance, and IT to executive management, who could gain a better understanding about how business practices impacted the company’s exposure to foreign currency risk. Automating FX processes illuminates underlying business practices driving overall financial practices and put a new lens by looking at the big picture. Strive for Continuous Improvement: Momentum Building The concept of continuous improvement is a key component of Lean; one that prods companies to go from one-time process improvement initiatives to making customer value and waste elimination a way of doing business. Companies benefit most from implementing software tools to support their new process workflow and provide greater transparency, achieving ongoing improvements requires continuous communication, teamwork, and leadership. As part of the analysis of waste elimination from FX exposure management processes, it is important to quantify the time saved on non-value-added activities and defined how that time/effort would be reapplied to creating additional value. In this way, Lean practices have the potential to build and “snowball” from one process to the next, where the more time saved and value added, the greater the opportunity to save more time and create even more value.   Want to learn more about how to improve your foreign exchange risk management process? Check out Kyriba's latest demo session and see how Kyriba helps its clients mitigate the effects of currency volatility and reduce hedging costs.

La piattaforma di gestione della liquidità aziendale di Kyriba offre soluzioni per la connettività, i pagamenti, la tesoreria, il rischio e il capitale circolante, garantendo visibilità, controlli, produttività e processi decisionali basati sui dati per i CFO e i loro team.

La piattaforma di gestione della liquidità aziendale di Kyriba La piattaforma di gestione della liquidità aziendale di Kyriba offre soluzioni per la connettività, i pagamenti, la tesoreria, il rischio e il capitale circolante, garantendo visibilità, controlli, produttività e processi decisionali basati sui dati per i CFO e i loro team. Grazie alla nostra piattaforma aperta di sviluppatori API e al Marketplace, la finanza ha accesso a nuovi prodotti e servizi e alle integrazioni a livello aziendale con banche, ERP, sistemi di terze parti e set di dati interni. Con Kyriba, i CFO possono vedere, proteggere, far crescere e spostare la liquidità con una velocità, una precisione e un'efficienza senza precedenti. Prodotti Tesoreria e gestione del rischio Connettività Pagamenti Capitale di lavoro Copertura delle soluzioni Organizzazioni aziendali Aziende di medie dimensioni Settore industriale Organizzazioni nazionali e globali Open Cloud Portale per sviluppatori Guidato da API Analisi e visualizzazione dei dati Certificazione SOC2/ISO27001 Kyriba combina questi prodotti leader per offrire una piattaforma di Enterprise Liquidity Management comprovata e olistica, con una connettività end-to-end aperta tra i vostri sistemi e partner bancari. Tesoreria e gestione del rischio Kyriba fornisce ai CFO e ai tesorieri la visibilità e la reportistica necessarie per ottimizzare i rendimenti di cassa, controllare i conti bancari, guidare la reportistica e la conformità e gestire la liquidità. Sistema di gestione della tesoreria Cash Management La visibilità completa della liquidità, grazie a dashboard flessibili sulla posizione di cassa e a funzionalità di riconciliazione complete, consente di visualizzare facilmente le registrazioni del giorno precedente e quelle giornaliere. Previsioni di cassa Kyriba offre ampie opzioni per la modellazione e la misurazione dell'efficacia delle previsioni, in modo che i clienti possano estendere l'accuratezza e l'orizzonte delle loro previsioni di cassa. Cash Pooling e In-house Banking I clienti possono gestire pool di contanti nozionali e fisici per offrire posizioni intercompany in tempo reale, calcoli degli interessi e reportistica automatizzata. Compensazione multilaterale La compensazione multilaterale calcola le posizioni nette di debito e credito per partecipante, ottimizzando la gestione dell'esposizione e l'integrazione bancaria interna. Gestione delle relazioni bancarie La gestione dei conti bancari (BAM), la tracciabilità dei firmatari, la rendicontazione FBAR e l'analisi delle commissioni bancarie consentono un migliore controllo dei conti bancari e una maggiore trasparenza sulle commissioni bancarie. Transazioni finanziarie Tracciate completamente le transazioni finanziarie di tesoreria per gli investimenti, il debito e gli strumenti di rischio, grazie alla completa integrazione con i moduli di pagamento, contabilità e previsione di cassa. Contabilità e conformità È possibile generare voci di registro per tutti i modelli di cassa e liquidità. Grazie all'integrazione automatica dell'ERP con la contabilità generale, Kyriba offre la riconciliazione banca-libro per far coincidere mensilmente gli effettivi bancari con i saldi contabili caricati. Gestione del rischio Gestione dell'esposizione FX Le analisi approfondite consentono di ottenere visibilità sulle esposizioni valutarie e di valutare, attenuare e comunicare meglio gli impatti valutari sugli utili e sui bilanci. Valutazioni Mark-to-Market Kyriba supporta funzionalità di valutazione complete, compreso il rischio di credito e il supporto CVA/DVA, sfruttando i dati di mercato integrati di Kyriba. Contabilità degli strumenti derivati e di copertura Le funzionalità di contabilizzazione degli strumenti derivati e di copertura per i programmi di copertura del tasso di cambio e del tasso di interesse offrono un supporto completo per i requisiti FASB, IFRS e GAAP locali. Contabilità del leasing I flussi di lavoro intuitivi supportano le norme IFRS16 sulla contabilità dei leasing, compresa la gestione dei leasing, i calcoli e l'integrazione con la contabilità generale. Gestione del rischio non finanziario Kyriba offre servizi di rilevamento delle frodi nei pagamenti e di sicurezza avanzata a livello aziendale, che forniscono un valore strategico per l'azienda e la mitigazione del rischio e includono la conformità normativa e il controllo automatizzato della gestione dei conti bancari. Connettività L'Enterprise Connectivity-as-a-Service di Kyriba, sviluppato internamente e leader nel settore, offre ai nostri clienti una soluzione di connettività completa per ERP, sistemi finanziari interni e un'ampia selezione globale di oltre 600 connessioni preconfigurate e pre-testate con istituzioni finanziarie di tutto il mondo. La soluzione di Kyriba comprende interfacce di elaborazione delle applicazioni (API) che consentono l'integrazione, i pagamenti e la reportistica in tempo reale. Kyriba offre la più grande rete bancaria globale, connettività multi-ERP, esperienza di pagamenti omni-canale e connessioni in tempo reale utilizzando l'automazione dei processi robotici, l'intelligenza artificiale e la tecnologia del libro mastro distribuito. Kyriba offre la più grande rete bancaria globale, connettività multi-ERP, esperienza di pagamenti omnichannel e connessioni in tempo reale utilizzando l'apprendimento automatico, l'intelligenza artificiale e soluzioni avanzate con pratiche leader integrate. Caratteristiche e vantaggi principali Connettività out-of-the-box a più ERP (GL, reporting, feed di dati di mercato, soluzioni di capitale circolante come il finanziamento della supply chain) Formati predefiniti per i pagamenti, i report sullo stato dei pagamenti e i report bancari; accesso a nuovi circuiti di pagamento (distributed ledger, pagamenti in tempo reale) Liquidity Data Hub - archivio unico di tutte le transazioni giornaliere in contanti effettuate su qualsiasi conto bancario del cliente Punto centrale dei dati di accesso statici e di sicurezza (supporta le funzionalità SSO) Protocolli regionali e nazionali Protegge i clienti da futuri cambiamenti di connettività e formato Monitoraggio 24/7 delle prestazioni della connettività Driver di valore per le aziende Pagamenti, reportistica e implementazioni finanziarie più rapide per progetti ERP, di tesoreria e di finanza Facilitazione dell'onboarding di nuove unità aziendali (ad esempio, supporto alle attività di M&A) Consolidamento delle trasmissioni di pagamenti e reportistica tra ERP e banche partner Risparmio sui costi e aumento dell'efficienza Maggiore visibilità dei costi, del rischio di frode nei pagamenti e dell'efficacia della mitigazione Maggiore conformità alle politiche interne 99,9% di up-time, disaster recovery incorporato nella nostra soluzione Kyriba ha clienti che si collegano direttamente a oltre 1.000 banche in tutto il mondo. Connessioni dirette da host a host Kyriba offre connessioni "direct-to-bank" da host a host tramite Secure FTP a centinaia di banche e sta lavorando con alcune delle maggiori banche globali per stabilire una connettività diretta basata su API. Ciò non richiederà servizi o reti intermediarie, per ridurre al minimo i costi delle transazioni e le commissioni bancarie. Le connessioni host-to-host sono spesso utilizzate per rapporti bancari ad alto volume in combinazione con altri metodi di connettività per ridurre al minimo i costi di connettività e aumentare la velocità e la sicurezza. Connettività e integrazione API aperte Più che una semplice connettività bancaria, la nostra piattaforma Open API consente alla vostra organizzazione di accedere a nuovi prodotti e servizi, in tempo reale. Un'unica API collega i clienti ai nostri 1.000 connettori bancari pre-sviluppati e a 50.000 scenari di formato di pagamento. La nostra soluzione è già pronta e non richiede sviluppo personalizzato, codifica o implementazione di progetti speciali. Protocolli regionali e nazionali Molti Paesi richiedono spesso l'uso di reti regionali che supportano i collegamenti con i partner bancari locali. Kyriba si collega a molte di queste reti speciali, regionali o specifiche per ogni paese: Zengin e Anser in Giappone EBICS in Francia e Germania BACS e Faster Payments (compresa l'opzione Direct Corporate Access) nel Regno Unito CBI in Italia EDITRAN in Spagna Connettività rapida SWIFT è il gold standard quando si tratta di collegarsi a un gran numero di banche in tutto il mondo. Ufficio servizi SWIFT Lo SWIFT Service Bureau di Kyriba offre ai clienti il proprio BIC SWIFT, completamente gestito da Kyriba, che include l'iscrizione a SWIFT e consente volumi illimitati di pagamenti e rendiconti. Sfruttando la messaggistica MQ per una maggiore velocità di trasmissione, è specializzato per volumi di connettività più elevati e per coloro che desiderano un servizio SWIFTNet completamente gestito, compreso il monitoraggio completo della connettività bancaria end-to-end. Operazioni e sicurezza SaaS globale Modalità operativa SaaS su base protetta 24/7 Interfaccia utente disponibile in 14 lingue Servizi di continuità operativa (con SLA del 99,9% di uptime) Obiettivi di punto e di tempo per il disaster recovery (RPO / RTO) Aggiornamenti senza soluzione di continuità Processo di sicurezza best in class Pagamenti Kyriba offre una soluzione di pagamento globale e in tempo reale attraverso soluzioni hub di pagamento multi-banca preconnesse, insieme al rilevamento istantaneo delle frodi per i processi di pagamento aziendali, compresi i pagamenti di tesoreria o ad hoc. Grazie alla completa sicurezza e alla separazione dei compiti, Kyriba offre controlli standardizzati sui pagamenti insieme al rilevamento delle frodi in tempo reale e allo screening dei pagamenti in base alla lista delle sanzioni. Pagamenti Treasury  I pagamenti automatizzati consentono ai team di avviare, approvare e trasmettere i pagamenti della tesoreria in conformità con le politiche di pagamento dell'organizzazione. Con Kyriba, la tesoreria può standardizzare il controllo dei pagamenti per aumentare la resilienza contro le frodi e la criminalità informatica. Hub dei pagamenti Kyriba offre un hub di pagamento completo per l'avvio, la gestione e la consegna dei pagamenti di fornitori e aziende ai canali di pagamento bancari e non bancari. Gli oltre 45.000 scenari di formato di pagamento di Kyriba offrono la connettività ERP-banca più completa, eliminando la necessità di gestire internamente i protocolli bancari e la trasformazione dei formati. Connettività dei pagamenti Kyriba supporta diversi canali di connettività, tra cui SWIFTNet, Open API, host-to-host e reti nazionali, in modo che i clienti possano massimizzare l'automazione, garantire la sicurezza dei pagamenti e minimizzare i costi totali. Kyriba offre il maggior numero di opzioni di connettività a livello globale. Rilevamento delle frodi nei pagamenti Il modulo di rilevamento delle frodi di Kyriba offre la possibilità di rilevare e prevenire in tempo reale, sulla base di uno scenario, le attività di pagamento sospette, per garantire che le politiche e le procedure di pagamento digitalizzate vengano applicate in ogni momento. Capitale circolante Kyriba offre una soluzione tecnologica di prim'ordine, fornendo ai CFO strumenti e programmi per incrementare il flusso di cassa libero e migliorare i risultati finanziari con soluzioni di finanziamento per pagamenti anticipati che supportano l'estensione dei termini dei debiti o un migliore ritorno sulla liquidità. Capitale circolante - Oltre la tecnologia Kyriba va oltre la tecnologia nel fornire un servizio completo di offerta di capitale circolante leader di mercato. Sia attraverso la nostra approfondita analisi del capitale circolante che getta le basi quantitative per la soluzione di capitale circolante, sia attraverso la progettazione di programmi personalizzati in cui definiamo i KPI del programma e lavoriamo per ottenere un programma che soddisfi tutte le esigenze delle parti interessate, comprese le strategie di finanziamento. Supporto alla funzione di approvvigionamento Il team Working Capital di Kyriba supporta la vostra funzione di approvvigionamento, dotando i vostri team degli strumenti necessari per raggiungere il successo e, infine, utilizzando la nostra pluripremiata soluzione di onboarding dei fornitori insieme al nostro team internazionale e multilingue di onboarding dei fornitori, per garantire la realizzazione della vostra strategia di programma. Kyriba offre una soluzione all-in-one per il capitale circolante e i pagamenti attraverso la nostra Enterprise Liquidity Network. Ora l'operatività per gli ordini di acquisto e le fatture può essere fornita in un'unica piattaforma globale. Come soluzione indipendente dalle banche, Kyriba vi offre la possibilità di sfruttare tecnologie e servizi all'avanguardia per accedere alla liquidità di SCF nei modi più efficienti e flessibili per raggiungere gli obiettivi del vostro programma: Controllo e proprietà - In qualità di proprietari del vostro programma, il nostro modello di finanziamento mette i nostri partner in controllo. Rapporto con la banca - È possibile selezionare e premiare più banche di relazioni chiave. Il rischio - Eliminare il rischio di banca unica e diversificare le fonti di finanziamento Prezzi - La natura competitiva della nostra soluzione aperta spinge la concorrenza bancaria a praticare sempre i prezzi migliori. Kyriba non è un finanziatore - Non siamo vincolati ad alcun processo specifico di rischio di credito o di politica di onboarding dei fornitori. Finanza della catena di approvvigionamento La supply chain finance offre ai fornitori una soluzione completa di reverse factoring per estendere il DPO (giorni di debito insoluto) con una completa integrazione tra l'acquirente, il fornitore e il partner di finanziamento. La piattaforma di supply chain finance di Kyriba è ideale per le organizzazioni che desiderano estendere i termini dei loro debiti per migliorare le prestazioni del flusso di cassa. Sconto dinamico I programmi di sconto dinamico sono più adatti alle organizzazioni che dispongono di liquidità in eccesso e che cercano un'alternativa agli investimenti a breve termine e a basso rendimento per ottenere rendimenti privi di rischio sulla liquidità. Con Kyriba, gli acquirenti possono strutturare programmi di pagamento anticipato in cambio di sconti calcolati dinamicamente. Finanziamento dei crediti La soluzione Receivables Finance di Kyriba accelera il pagamento dei crediti per immettere rapidamente liquidità nell'azienda, dove necessario, offrendo ai CFO un nuovo strumento per ottimizzare il capitale circolante e rafforzare il bilancio. L'integrazione perfetta con l'intera piattaforma semplifica la gestione della liquidità e la stabilità del capitale circolante.

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.

La gestione della liquidità aziendale ha fruttato un valore pari a 490.000 $ in meno di tre mesi Cenveo aveva bisogno di accrescere la visibilità della propria liquidità complessiva e di offrire al management...

La gestione della liquidità aziendale ha fruttato un valore pari a 490.000 $ in meno di tre mesi Cenveo aveva bisogno di accrescere la visibilità della propria liquidità complessiva e di offrire al management informazioni utili on-demand sulle prestazioni dei loro obiettivi strategici di liquidità. La trasformazione digitale della gestione della liquidità aziendale tramite Kyriba ha portato subito dei risultati di grande impatto: Sfide principali L’executive leadership aveva bisogno di informazioni sulla liquidità e analisi di scenari on-demand affidabili, in tempo reale e su cui basare le proprie decisioni. Processi di tesoreria diversificati, time consuming e non standardizzati consumavano 729 ore al mese di lavoro di un team di ridotte dimensioni. L'eccessivo carico di lavoro e la gestione diversificata dei processi di gestione e previsione della cassa e flussi di pagamenti comportavano un consumo di 7 ore di lavoro al giorno. Percorso di trasformazione digitale La società di consulenza Clearsulting ha condotto una valutazione approfondita di Cenveo, evidenziando la necessità di adottare un software per la gestione della liquidità. Clearsulting ha contribuito a migliorare i processi di approvazione e pagamento delle fatture, ha ottimizzato i processi di previsione di cassa e contabilità e gestito le attività di implementazione. Per determinare cosa cambiare, perché cambiare e perché farlo immediatamente, Cenveo si è servita del servizio di Collaborative Value Assessment (CVA) del team di Value Engineering di Kyriba. “Il passaggio più critico nel nostro processo di valutazione delle soluzioni prevedeva l'utilizzo del servizio del team di Value Engineering di Kyriba, che ci ha aiutati a documentare cosa serviva fare, perché serviva farlo e perché serviva farlo subito.” Benjamin Seal, VP tesoreria   Value Realization: 657 ore al mese Il Value Realization Assessment o VRA ha permesso a Cenveo di fornire l'analisi del proprio stato attuale a seguito dell'implementazione di Kyriba, da cui si evince un miglioramento della produttività del 90%, che include, tra gli altri, i seguenti aspetti: Gestione della cassa: 100% di visibilità della liquidità in tempo reale, con un incremento di produttività pari a 95 ore al mese. Previsione di cassa: miglioramento dell'accuratezza delle previsioni di liquidità del 43%, con un incremento di produttività pari a 113 ore al mese. Ottimizzazione della liquidità e dei pagamenti: i miglioramenti nell'integrità dei dati e nei controlli dei flussi di lavoro hanno portato un incremento di produttività pari a 137 ore al mese. “La piattaforma di gestione della liquidità aziendale di Kyriba ha raggiunto l'obiettivo di fornire informazioni affidabili e tempestive sulla liquidità e ha permesso di promuovere il processo di trasformazione del mio team consentendogli di assumere un ruolo meno tattico e più strategico all'interno dell'azienda.” Benjamin Seal, VP Treasury   Cenveo e Kyriba: una partnership aziendale strategica Supply Chain Financing: si valuta un potenziale guadagno di 17,7 milioni di dollari dovuti a un miglior flusso di cassa Business Interruption Claims dell'attività. SU CENVEO Cenveo è leader mondiale nella gestione e distribuzione di offerte stampate e relativi accessori. Dispone di 20 strutture in tutti gli Stati Uniti e da tempo si distingue per la fornitura di un servizio di altissima qualità. Scarica il pdf

Patrick Klein - Head of Treasury, e Elena Maria Mori - Treasurer presso Buzzi Unicem S.p.A., azienda italiana specializzata nell'industria del cemento e derivati, basata a Casale Monferrato in Piemonte (Italia), condividono la loro...

Patrick Klein - Head of Treasury, e Elena Maria Mori - Treasurer presso Buzzi Unicem S.p.A., azienda italiana specializzata nell'industria del cemento e derivati, basata a Casale Monferrato in Piemonte (Italia), condividono la loro esperienza in merito all'implementazione della soluzione Kyriba.

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...

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

Kyriba è lieta e fiera di continuare a sostenere la serie "Tesoreria nella pratica" di AFP, e ciò vale anche per quest'ultima pubblicazione, "Identificare il valore per la Tesoreria: Automazione, Machine Learning e Intelligenza...

Kyriba è lieta e fiera di continuare a sostenere la serie "Tesoreria nella pratica" di AFP, e ciò vale anche per quest'ultima pubblicazione, "Identificare il valore per la Tesoreria: Automazione, Machine Learning e Intelligenza Artificiale”

La connettività di Kyriba semplifica i pagamenti globali. Unendo un raggio d'azione globale alla propria esperienza locale, Kyriba è in grado di fornire molteplici opzioni per un accesso senza eguali a pagamenti in blocco...

La connettività di Kyriba semplifica i pagamenti globali. Unendo un raggio d'azione globale alla propria esperienza locale, Kyriba è in grado di fornire molteplici opzioni per un accesso senza eguali a pagamenti in blocco o in tempo (quasi) reale attraverso una connettività robusta e affidabile.

Digitalizzazione della funzione Finanza e ottimizzazione della liquidità di un Gruppo globalizzato - Buzzi Unicem & Kyriba

Digitalizzazione della funzione Finanza e ottimizzazione della liquidità di un Gruppo globalizzato - Buzzi Unicem & Kyriba

Digital treasury tools, such as robotic process automation (RPA), machine learning and artificial intelligence (AI) are already being used to facilitate treasury automation. The use of treasury technology leads to better decision-making and also...

Digital treasury tools, such as robotic process automation (RPA), machine learning and artificial intelligence (AI) are already being used to facilitate treasury automation. The use of treasury technology leads to better decision-making and also frees time for skilled treasury practitioners to focus on strategic development. This guide outlines how RPA, ML and AI can–and are–being used to improve treasury management processes for receivables finance, payments, fraud detection and more. The guide also explores how to build a business case for a new automation project. The Need for Technology to Maintain Effective Operations Corporate treasury departments rely on technology to maintain effective operations. The technology varies and is constantly improving, offering ever more sophisticated solutions and functionality. Treasury uses a wide range of different technologies, from spreadsheets developed in-house to manage a specific process to highly sophisticated treasury management systems. Technology is also an enabler as treasury evolves from an operational department to a strategic partner to the whole of the business, with automation playing an increasingly important role. While technology is critical to improving operational efficiency, that efficiency is only achievable if the technology is deployed to perform suitable tasks, which requires accurate expectations of what each type of technology can and, just as importantly, cannot deliver. Treasurers must be able to do two things: Identify key inefficiencies, or “pain” points, within their operations. Match each activity to an appropriate technology with the potential to solve them. Pain points manifest themselves in different ways, whether as errors, such as missed investment opportunities or unhedged exposures, or as timeconsuming manual processes, such as the preparation of the cash position. While the root causes and associated operational weakness are relatively simple to identify, the challenge lies in selecting appropriate solutions to solve those problems. All companies have these pain points and, if left unchecked, they are only going to get worse. With the increased use of real-time payments, we are moving ever nearer to a world of real-time finance, an environment of constantly changing data. Without more automation, treasury practitioners simply will not be able to make decisions quickly enough. On a positive note, digital treasury tools, notably Robotic Process Automation (RPA) and machine learning, are already being used to facilitate treasury automation. The use of these tools can be shown to lead to better decision-making; it also frees time for skilled treasury practitioners to focus on strategic development. This guide outlines how RPA and machine learning can, and is, being used, and shows how to build a business case for a new automation project. Robotic Process Automation, Machine Learning and Artificial Intelligence In this section, RPA and machine learning/artificial intelligence (AI) are defined and explained along with the potential benefits of their use. The next section includes three use cases to highlight how different companies have already deployed digital technologies to streamline operations. Robotic Process Automation Robotic Process Automation is a rules-based technology enabling users to automate repetitive tasks. It effectively uses a software “bot” to replicate a series of manual processes performed by a person. Unlike a standard workflow process that operates within a single system, an RPA bot can be set up to capture data from multiple systems, as it mirrors a human treasury team member by sitting above existing systems. Because of this, RPA processes can often be implemented quickly and without major disruption to existing operations. RPA is typically used to replicate a manual, repetitive task, or series of tasks, that can be tightly defined. Machine Learning and Artificial Intelligence Artificial intelligence (AI) is the use of a computer or machine to mimic certain elements of human intelligence. Machine learning (ML) is a branch of AI, in which a machine learns how to identify patterns in data. Unlike RPA, which simply replicates a series of repetitive processes, machine learning can be used to analyze data to identify trends or patterns, via the use of algorithms. This goes to the heart of many companies’ problems with data analysis: companies generally hold, or amass vast stores of data, but they do not convert it into meaningful information. As with RPA, data analysis via machine learning is faster than human computation; once set up, machine learning can operate any time (constantly, overnight or according to a customized schedule), enabling decisions to be made with the optimal, latest available data. However, implementation is more complex than typical RPA scenarios. Machines can learn, or be taught via amendments to the underlying algorithms, patterns over time, but they are reliant on access to multiple data to perform meaningful calculations. Companies need to be prepared to make the investment in technology and data cleansing or preparation before any machine learning would be effective, both from a results and a cost perspective. The Potential Benefits of RPA and Machine Learning Although the use cases vary, the use of RPA and machine learning offer similar potential advantages, including: Improved accuracy. With RPA, as long as the process is set up correctly, the bot will perform the same tasks in the same way every time. The risk of human processing errors is eliminated and, if any variance between RPA outcome and actual outcome is identified, the RPA process can be adjusted. In the case of machine learning, accuracy will improve over time, as the machine learns and the algorithms are adjusted. Significantly reduced processing time. Bots and machines can perform typical tasks in a fraction of the time it takes a person to complete. This means that activities can be performed faster, so decisions can be made on the most recent available data. Results available, globally, when needed. Machine learning and RPA technology can operate at any time, so calculations can be performed overnight or on desired schedules to meet operational requirements. So, for example, in the case of cash positioning in a multinational organization, results can be available when teams in each location start their respective days, rather than two or more hours into them. Time management. Eliminating mundane processing from a treasury professional’s day frees that time to devote to more value-added activities, whether that is engaging with additional timesaving activities, supporting the wider business or focusing on strategic decisions. Improved morale. Although some treasury staff will be concerned about the impact of RPA and machine learning on their own jobs, for most organizations the technology will be an additional process that will improve team members’ experiences by eliminating the stress of calculating positions under time pressure or reducing the risk of error. Team members will also have time to spend on more interesting and personally rewarding activities. How Emerging Technologies Are Being Used This section outlines three ways RPA and machine learning are being used to solve particular problems faced by individual treasury departments. Case Study: Automating Time-Consuming Tasks via RPA One insurance company’s treasury department used to spend hundreds of hours a year processing internal customer requests for check images. While critical for the business as a whole, these requests were timeconsuming to complete and added no value within finance. The treasury team developed an internal RPA process via bot to automate the process. While the team had to spend some time training their internal customers on the new process so that requests were made in a standardized format to enable bot processing, the system is now operational and running three times a day. Using the bot has improved the response time for treasury’s internal customers, while releasing time back to treasury to devote to more value-added activities. It is now a task that treasury no longer has to perform. In addition, the customer experience and SLA have improved, as treasury can now typically respond to a customer’s request in a matter of hours, rather than weeks. Case Study: Improving Cash Flow Forecasts One of the key benefits of RPA is that it can be used to process data from a number of different company systems. This makes RPA a useful tool to improve cash flow forecasts, as they are built on data sourced from banks, treasury management and ERP systems and from other company departments, including payment teams. Séverine Le Blevennec, senior director of EMEA Treasury at Honeywell has led the development of an RPA process to improve the accuracy and timeliness of the in-house bank’s cash flow forecasts. She identified RPA as a technology that might have the capability to enhance the existing forecast, and then took time to fully understand whether RPA could work by examining the technology in some detail. Convinced that RPA was the potential solution, Le Blevennec then engaged with internal and external stakeholders to communicate her vision. She worked with Honeywell’s technology providers and banking partners to see whether data could be supplied in a more accessible way, wanting her colleagues to view the bot as a useful colleague, not as a threat to their jobs. Critically, Le Blevennec knew the bot needed to have a significant positive impact from the start, as she wanted the project to energize her colleagues toward future digitization projects. In other words, the new process had to deliver the expected returns. Ensuring this required a review of the current process and a strict testing program. Le Blevennec learned that “rule-based programming [like RPA] requires detailed documentation.” She revisited all existing processes and created seven workflows for seven different activities, from maturing time deposits to intraday payments and collections. She emphasized the importance of testing. Tests were performed in a mindset in which it was expected that “things could go wrong.” Then, before going live, the team used the new spreadsheet alongside the old process to make sure everything worked as expected. Since going live, Honeywell has seen some significant benefits. The new system is more efficient: Two hours a day have been saved. It is more accurate: The old manual system could only include data from about 40 Honeywell bank accounts. Today, data from over 160 accounts are included in the forecast, and any new accounts can be included easily. Enhanced visibility has resulted in improved counterparty risk management, reduced levels of un-invested cash and, as a result, increased investment returns. Most importantly, Honeywell’s treasury team has seen the benefits. They are less stressed, and more engaged for the next stage in Honeywell’s digitization journey. Case Study: Receivables Management A steady growth in sales, resulting in increased receivables, is usually good news. But it might not be for an AR team, over-reliant on expensive lockbox processing. With over 2,500 monthly checks all needing some form of human intervention coupled with increased sales, a technology company’s AR team suffered from low morale, leading to delays in receivables processing and reduced confidence in the accuracy of AR data in the ERP. As a result, the treasury team was so busy processing payments, they didn’t have time to convince customers to transition to more efficient, less costly electronic payment formats. The team recognized they needed a solution that could be scaled and that would allow them to react in the ever-changing B2B payment environment. It is one thing to recognize the need for change; it is another to understand how to bring it about. The team did their research and spoke to their banking partners. One discussion started with an enquiry on how to implement a more modern lockbox, utilizing the OCR codes; it ended with the team realizing that machine learning could be used to automate some of the processes. They were able to design a solution that would get machines to do much of the previously manual work. However, there were hurdles to overcome. For example, in one division, clients tended to pay by claim, rather than by invoice, and the ERP system didn’t hold the claim line item information. The team realized bridging the gap between the system holding the claim information and the ERP was well-suited to machine learning. Once the solution was operational, it freed time for the team to manage exceptions and also to improve the quality of the data on which the AI system relied. The time savings enabled the team to work with customers to send and enhance information coming into the system, so the machine learning tool could better consolidate and match the data, and constantly learn to improve. The result was dramatic. By replacing the manual gathering, consolidation and formatting that was required every morning, the AI-enabled receivables solution allows the company to quickly improve the time taken to process a payment. Most payments are processed within two days. This was achieved because of the consolidation of information. The payments are now standardized. Reconciliation is simpler, with the team confident all the information is there. Three months later, with even more time available as the machine continues to learn from manual exception management actions, the team can spend more time with collections and customers to help them provide better remittance information, further improving matching. The team can now build electronic adoption, with the AI bringing together remittance and payment automatically. Now, every time a match is confirmed, the system can see it and learn from it. The team can respond quickly to queries. Information is tracked immediately, so there is no need for time-consuming searches for data. The team has confidence in the data, and morale is high as they can focus on more value-added activities. Making the Business Case to Implement As with any technology project, it is critical to build a strong business case when seeking to adopt RPA or machine learning. This means getting buy-in from a project sponsor, and approval from all required stakeholders. Setting and achieving key success metrics will give credibility to the project, which in turn will help treasury practitioners introduce more digital finance initiatives. To help make a compelling business case and ensure the objectives are well defined, there are a number of key considerations. Understand the technology to maximize the potential benefits. As outlined above, different technologies are better suited to solving particular problems. The project owner needs to understand the nature of the problem and how the proposed technology will solve it. Some proposals may appear to be a standalone solution to a particular problem with limited impact across the wider business, yet when examined further, are either extendible into other functions and/or require change to operations within those functions. Optimize processes before automating. If there is an existing process, map it and review whether it can be made more efficient. Many manual processes incorporate separate checks and approvals to protect against error and fraud. While some may need to be migrated into an automated process, for example if a transaction exceeds a certain pre-set limit, it may not be necessary to migrate all of them, as long as the rules are tightly written. A machine learning project may require improvements to data management to enable automated data analysis. Communicate and educate stakeholders on the proposed solution. Communication is central to the success of any project. Senior management will have to approve the project. If IT input is required, they will need to be engaged early in the planning process to secure resources. Banks, technology providers and other data suppliers should also be approached early to plan how they can support the project. Treasury team members will want to understand the implications for them. Identify potential returns. One of the key benefits of automating a process, whether by RPA or ML, is to remove layers of human involvement in either mundane, standardized processing or time-consuming data collation and analysis. So, although there will be some clearly measurable costs and benefits, many will be “softer” benefits in the form of released time and reduced risk of error and fraud. Establish and monitor success metrics. It can be helpful to identify some clear targets to serve as measurements of the success of the project, such as how much time an RPA project has saved. It may be possible to illustrate consequential benefits too, such as improved investment returns due to more accurate cash forecasts. If possible, use these measurements to refine the bot or machine to achieve further efficiencies. Scale the solution; look for the next step. Measuring the outcome of one project will help build support and momentum for others. As technology develops, there will always be further ways it can be adopted to improve treasury operations. Greater Automation Is the Future As this guide has indicated, technology is enabling corporate treasury departments to operate more efficiently by automating processes and taking advantage of more advanced data analytics. In turn, these changes further enable transformation and evolution of treasury departments from laborintensive operational, tactical departments into strategic partners to the wider business. The adoption of new treasury technologies continues to accelerate, driven by multiple factors. Two stand out: the evolution of the “internet of things,” and the move toward “real-time” finance. While the catalysts for the development of these two trends is different, the implications for treasury and finance are closely linked. The Internet of Things The value of the internet of things comes from the way data can be shared between billions of different devices being connected via the internet. It allows individuals to control their personal environment (e.g., smart lighting and heating) and companies to manage a whole range of processes from stock ordering to logistics management. For treasury and finance, the value will come from being able to link the physical and financial supply chains and gain better insight into cash. To do so effectively, data sent out by these connected devices needs to be analyzed by artificial intelligence; the devices simply produce too much data to be analyzed in any other way. The Implications of Real-Time Finance There is a clear trend toward more real-time activity in treasury and finance, with real-time payments being just one, albeit significant, step. Notably, the move toward real-time processing is also a shift to 24/7/365, always on operations. Treasury will need to consider how to manage this change and, particularly, how to manage risks that will emerge overnight, including between the Friday close and the Monday restart. The growth of e-commerce has already provided a sense of changes to come. Consumers who pay online expect to see their order status updated in real time and, in some sectors, the service or product available in real time too. With the adoption of real-time payments, actions not limited to fraud prevention have to take place in real time as part of the payment initiation process, as real-time payments are generally irrevocable, with no opportunity to stop or amend payments. But managing payment processes is just one part of a much wider change that the adoption of realtime payments will bring to finance and treasury. If payments are being made in real time, treasury departments will need to manage their liquidity in real time too and they will rely on a level of automation and artificial intelligence to do so. And before long, the foreign exchange and money markets will move toward real time, profoundly affecting the treasury departmental day, which is currently structured by cut-off times. For these reasons, it seems inevitable that both RPA and artificial intelligence, including machine learning, will play a more prominent role in the management of corporate treasury departments in the coming years. Conclusion Although RPA and AI are seen as cutting edge, in reality many companies are benefiting from these technologies through solutions provided by their banks and technology partners. For organizations yet to implement the technology, doing so successfully requires three key steps: Identify a pain point to be solved. RPA and AI/machine learning both work best when implemented to solve particular problems. Don’t start using RPA; start using RPA to automate a process. Match the technology to the task. Different types of technology solve different problems. If you want to automate a process, RPA is likely to be the more suitable solution. If you want to analyze data, investigate AI, including machine learning. Build a business case. RPA and AI/ ML are likely to become even more important in the future, so a successful first project is important. Make sure your chosen technology can do what you want it to do, then build support for your solution among stakeholders including, critically, the treasury team. You can then use your successful first project as the springboard for future development.

Scientist.com è la piattaforma leader di mercato per la ricerca e sviluppo in outsourcing. Questa piattaforma semplifica l'approvvigionamento di servizi di ricerca e sviluppo, risparmiando tempo e denaro, riducendo i rischi e fornendo l'accesso...

Scientist.com è la piattaforma leader di mercato per la ricerca e sviluppo in outsourcing. Questa piattaforma semplifica l'approvvigionamento di servizi di ricerca e sviluppo, risparmiando tempo e denaro, riducendo i rischi e fornendo l'accesso alle tecnologie e agli strumenti più innovativi. La necessità di una Supply Chain Finance accessibile I finanziamenti sono da sempre un problema per i fornitori di servizi di ricerca di piccole e medie dimensioni nel settore dell'outsourcing pre-clinico. Queste aziende sono spesso costrette ad accettare termini di pagamento a 120 giorni, fissati dalle grandi aziende farmaceutiche. Di conseguenza, i fornitori lottano per accedere ai finanziamenti necessari che permetterebbero loro di formulare offerte per progetti in concorrenza con rivali più grandi. "La finanza è il cuore di un'organizzazione. Se vi sono limitazioni o vincoli, si taglia l'ossigeno o l'energia per alimentare la funzionalità operativa dell'organizzazione: nuova innovazione, R&S e operazioni quotidiane" Kris Kagan, Vice Presidente dell’Area Finance, Scientist.com Anche se le grandi aziende farmaceutiche utilizzano programmi di Supply Chain Finance (SCF), spesso non sono accessibili ai fornitori più piccoli. Per esempio, un programma può acquisire solo fornitori che apportano milioni di dollari in termini di spesa. Inoltre, anche se i fornitori soddisfano tale criterio, il processo di onboarding può richiedere mesi per essere completato e rivelarsi dispendioso per il fornitore del programma, poiché i grandi fornitori tendono ad avere alti costi operativi. Il programma di pagamento anticipato salvavita di Scientist.com Scientist.com si è reso conto che se un'opzione di pagamento anticipato venisse resa disponibile ai fornitori di tutte le dimensioni attraverso un programma di SCF, più aziende sarebbero in grado di concentrarsi sull'innovazione, piuttosto che sulla sola copertura dei costi operativi. In definitiva, ciò stimolerebbe la scoperta di nuovi farmaci. Scientist. com ha altresì identificato il potenziale, per la propria azienda, di ottenere un nuovo flusso di profitti in rapida crescita fornendo finanziamenti ai fornitori. Così, nel 2019, Scientist.com ha lanciato SciPayTM, una soluzione di capitale circolante di Kyriba che presenta opzioni di pagamento anticipato, onboarding rapido, gestione delle fatture e sconto dinamico per contribuire a finanziare la ricerca per qualsiasi organizzazione, indipendentemente dalle sue dimensioni. Così facendo, i fornitori di servizi di ricerca hanno accesso ai finanziamenti necessari per formulare offerte su progetti che prima erano bloccati a causa della mancanza di risorse. Mettere in gioco SciPay - Ridurre il rischio e creare opportunità Per trovare i migliori candidati per SciPay, Scientist. com ha sfruttato le proprie relazioni di lunga data con clienti di grandi aziende farmaceutiche e biotecnologiche, nonché il proprio portafoglio di oltre 3.100 fornitori. In pochi mesi, 45 fornitori indicati come piccole imprese si sono iscritti al programma. Aderendo al programma, si riduce il rischio sia per i fornitori che per gli acquirenti. Per gli acquirenti, SciPay mantiene inalterate le attività, assicurando che il lavoro sia completato prima del pagamento di una fattura e consentendo termini di pagamento estesi che non interrompano la filiera, poiché Scientist.com si assume l'onere del pagamento. Per i fornitori, i pagamenti anticipati si traducono in crescita, consentendo loro di formulare offerte su progetti a cui prima non avevano accesso, ora che hanno il capitale circolante per coprire i costi operativi. Scientist.com ritiene che il successo di SciPay sia il risultato sia del suo forte impegno interno nei confronti dell'iniziativa, sia della sua partnership strategica con Kyriba. Lavorando insieme, i team di finanza e sviluppo hanno integrato la piattaforma di SCF di Kyriba con i sistemi operativi esistenti di Scientist.com, nonché la sua banca, per garantire che i pagamenti e i dati di SciPay fluissero in modo sicuro e senza intoppi. "Abbiamo scelto Kyriba per due motivi principali", ha affermato Kris Kagan, Vicepresidente dell’Area Finance di Scientist.com. "Ci ha fornito l'opportunità di un programma di pagamento anticipato e siamo stati in grado di utilizzare tale programma di pagamento anticipato e unirlo ai moduli di TMS di cui Kyriba dispone. La seconda ragione è che eravamo alla ricerca di partner nel settore che potessero rendere scalabile la nostra attività, e Kyriba è stato un partner incredibile". Accelerare il processo di innovazione L'innovazione scientifica ora sta avvenendo più velocemente che mai grazie a SciPay. Nel complesso, l'intero ciclo di vita del processo di approvvigionamento è stato ridotto del 50% e il processo source- to-settle è stato accelerato dell'80%. Di conseguenza, i ricercatori possono eseguire progetti ed espandere le loro linee di prodotti più rapidamente. Il processo di innovazione sta diventando anche più efficace in termini di costi per gli acquirenti di servizi di ricerca. Quando vi sono più fornitori con capitale circolante sufficiente per proporre offerte sui progetti, è possibile ridurre il prezzo del progetto. SciPay ha apportato alcuni significativi vantaggi commerciali anche a Scientist.com. In primo luogo, si ha un vantaggio competitivo quando si tratta di attirare i fornitori di ricerca verso la propria piattaforma. Il fatto che i fornitori debbano solo iscriversi a un programma di SCF, piuttosto che a più programmi, senza alcuna barriera all'ingresso, è molto allettante. Inoltre, gli acquirenti di servizi di ricerca sono in grado di raggiungere facilmente oltre 3.100 fornitori registrati in tutto il mondo in un unico posto. Infine, poiché Scientist.com utilizza il proprio capitale circolante per finanziare i fornitori, ha aumentato le entrate attraverso l'implementazione di SciPay. In definitiva, SciPay ha uno scopo più grande di quello di essere una piattaforma finanziaria. Promuovendo una maggiore concorrenza nel mercato della ricerca e consentendo ai fornitori di scoprire più rapidamente farmaci salvavita, SciPay sostiene l'ambiziosa missione di Scientist.com di contribuire a curare tutte le malattie dell'uomo entro il 2050.

L'azienda di beni di consumo Newell Brands ha sfruttato la tecnologia per portare a termine un importante progetto di modernizzazione della tesoreria. Nel 2016, Newell Rubbermaid ha acquistato Jarden Corporation per formare una nuova...

L'azienda di beni di consumo Newell Brands ha sfruttato la tecnologia per portare a termine un importante progetto di modernizzazione della tesoreria. Nel 2016, Newell Rubbermaid ha acquistato Jarden Corporation per formare una nuova azienda di beni di consumo da 16 miliardi di dollari, Newell Brands. Sebbene l'accordo abbia portato notevoli vantaggi per l’azienda, ha altresì comportato una serie di sfide per quanto riguarda la tesoreria. Necessità di innovare Prima dell'acquisizione, entrambi i team dedicavano molto tempo ai processi manuali, quindi le opportunità di intraprendere attività a valore aggiunto erano limitate. La tesoreria di Newell aveva soto-investito in tecnologia, il che significava che il team combinato doveva assumersi numerosi compiti aggiuntivi senza aumentare l'organico. Per la gestione della liquidità quotidiana venivano utilizzati fogli di calcolo, il che offriva all'azienda una visibilità globale di cassa limitata. Le posizioni di cassa giornaliere erano manuali e per essere completate richiedevano due dipendenti per oltre 20 ore a settimana, mentre il rendiconto di cassa globale era disponibile solo una volta al mese. L'automazione era necessaria anche per quanto riguarda le operazioni di copertura (hedging). Nonostante le grandi perdite nette delle operazioni sul tasso di cambio, le inefficienze di processo dimostravano che l'azienda non avesse implementato un programma di copertura del bilancio e copriva unicamente prestiti intersocietari una tantum. Per gestire le coperture dei flussi di cassa si utilizzava una soluzione software indipendente, ma mancava di automazione. "Raccogliere e integrare i dati è stata la sfida più grande, ed è qui che stiamo vedendo i maggiori vantaggi" Era chiaro che la tecnologia e l'automazione erano essenziali se il team di tesoreria voleva raggiungere il proprio obiettivo di diventare più strategico e dare valore all'organizzazione. A seguito dell'acquisizione, Amit Singh, nuovo SVP e tesoriere di Newell, ha messo in atto un piano per integrare e modernizzare l'organizzazione della tesoreria combinata. Per l'idea di Singh erano fondamentali l'introduzione di una soluzione di gestione della tesoreria (TMS) e di una soluzione di analisi delle valute basate sul cloud che potessero rendere automatiche le attività manuali, ridurre il rischio e consentire di risparmiare tempo per l'analisi strategica dei dati. A seguito di un processo formale di RFP, Kyriba è stata scelta come TMS per la gestione della cassa e della liquidità, la gestione dei pagamenti, la connettività bancaria, la contabilizzazione delle operazioni di copertura e i derivati sui tassi di interesse. Newell ha selezionato inoltre una piattaforma di gestione delle valute basata sul cloud, FiREapps, per la raccolta dei dati, il consolidamento dell'esposizione, l'analisi e la segnalazione delle valute e le raccomandazioni di copertura. L'azienda si è altresì affidata al supporto commerciale di FXall, che è stato integrato nella soluzione Kyriba e FiREapps per automatizzare il processo di copertura. A seguito di un processo formale di RFP, Kyriba è stata scelta come TMS per la gestione della cassa e della liquidità, la gestione dei pagamenti, la connettività bancaria, la contabilizzazione delle operazioni di copertura e i derivati sui tassi di interesse. Newell ha selezionato inoltre una piattaforma di gestione delle valute basata sul cloud, FiREapps, per la raccolta dei dati, il consolidamento dell'esposizione, l'analisi e la segnalazione delle valute e le raccomandazioni di copertura. L'azienda si è altresì affidata al supporto commerciale di FXall, che è stato integrato nella soluzione Kyriba e FiREapps per automatizzare il processo di copertura. I vantaggi Il progetto ha portato a una trasformazione completa della tesoreria. Il nuovo processo estrae dati da 38 sistemi ERP originari e da 25 diverse unità aziendali. Quale conseguenza dell'automazione della gestione della tesoreria, del flusso di lavoro modernizzato e delle previsioni di cassa più tempestive e accurate, la dimensione del programma di copertura del bilancio è cresciuta da 800 milioni di dollari nel 2015 a 2 miliardi di dollari nel 2016. Inoltre, con l'implementazione della robusta soluzione di contabilizzazione delle operazioni di copertura e trading, Newell ha realizzato 1,3 milioni di dollari di risparmi nel trading con l'integrazione di FiREapps e FXall. I processi di tesoreria in generale sono diventati considerevolmente più efficienti, con un flusso di lavoro automatizzato che consente di avere più tempo per le attività a valore aggiunto. La visibilità di cassa è aumentata da meno del 50 per cento al 95 per cento, mentre il consolidamento delle piattaforme tecnologiche ha anche portato a un risparmio di 120.000 dollari all'anno. Oltre ai vantaggi esistenti, il progetto getta le fondamenta per miglioramenti futuri. Questi potrebbero includere l'aggiunta di funzionalità di attività bancarie interne e di compensazione delle valute in Kyriba, nonché l'espansione dei processi di previsione dell'esposizione del flusso di cassa in FiREapps. Onorare il lavoro di squadra Il progetto ha completamente modernizzato i processi di tesoreria di Newell, un risultato che Singh attribuisce a due fattori. Il primo è l'utilizzo di una tecnologia innovativa. Il secondo è il supporto di un team di tesoreria interno dedicato e ambizioso, che non si è fatto scoraggiare dallo sconvolgimento di una fusione significativa. "Una cosa è avere delle idee, un'altra è attuarle", ha affermato Singh. “Sono fortunato ad avere un team che ha creduto nei meriti della tecnologia nel campo della tesoreria, e che ha lavorato così duramente per mettere in atto tali soluzioni".

Il tentativo di frode è iniziato con un'e-mail proveniente dal CEO. Fortunatamente, il team di tesoreria di un costruttore immobiliare leader di mercato aveva lavorato diligentemente per stabilire processi di pagamento efficaci che avrebbero...

Il tentativo di frode è iniziato con un'e-mail proveniente dal CEO. Fortunatamente, il team di tesoreria di un costruttore immobiliare leader di mercato aveva lavorato diligentemente per stabilire processi di pagamento efficaci che avrebbero ridotto il rischio di pagamenti fraudolenti o imprecisi. Tali politiche includevano controlli interni, tecnologie informatiche e diffusione, cultura aziendale e monitoraggio/conformità. Una richiesta credibile L'assistente tesoriere ha ricevuto un'e-mail dal CEO che richiedeva un bonifico di 8 milioni di dollari per eseguire l'acquisizione di una società target britannica. Data la natura riservata della transazione, l'e-mail indicava che l'assistente tesoriere non avrebbe dovuto parlare del bonifico con nessuno. E come se non bastasse, il tesoriere era in ferie. La transazione sembrava credibile e l'e-mail imitava accuratamente lo stile di scrittura del CEO. Nel momento in cui l'assistente tesoriere ha iniziato a occuparsi della richiesta del CEO, si è reso conto che per una serie di ragioni non sarebbe riuscito a effettuare il bonifico. Le normative incontrano la realtà tramite Kyriba Grazie ai controlli stabiliti dall'azienda e tenuti in essere da Kyriba: Il pagamento non poteva essere elaborato da una sola persona. Questa azienda aveva configurato Kyriba in modo che ogni pagamento prevedesse l’intervento di almeno tre dipendenti prima che potesse essere elaborato. Un dipendente richiede il pagamento, un dipendente elabora il pagamento e un ultimo dipendente approva/invia il pagamento. L'importo di 8 milioni di dollari superava il livello dell'autorità dell'assistente tesoriere su Kyriba. La piattaforma di Kyriba applica limiti di autorità che danno a ogni dipendente un massimo specifico sull'importo del pagamento che può approvare. Questi avrebbe dovuto ottenere l'approvazione da qualcuno con un limite più elevato per poter effettuare il bonifico. Una frode sventata sul nascere Quando l'assistente tesoriere si è recato nell'ufficio del CEO per parlarne, è diventato subito evidente che tale richiesta di bonifico fosse fraudolenta. L'uso di Kyriba da parte dell'azienda per applicare le proprie normative interne di prevenzione dalle frodi è stato fondamentale per prevenire tale tentativo di frode. Altri modi in cui Kyriba aiuta questa azienda a identificare e proteggere dalle frodi includono la rapida diffusione delle informazioni, al fine di garantire che tutte le transazioni siano comunicate in modo estensivo alla contabilità e ad altri dipartimenti chiave. La piattaforma distribuisce report chiave, tra cui una lista di pagamenti in corso di elaborazione, più volte al giorno. La diffusione quotidiana dei report permette al loro gruppo contabile di effettuare riconciliazioni contabili tempestive che evidenziano i pagamenti fraudolenti o imprecisi ed evita che si verifichino in futuro. Grazie alla capacità di Kyriba di supportare la suddivisione dei compiti, i limiti di autorizzazione dei pagamenti e i controlli bancari, tale importante costruttore immobiliare ha evitato una perdita di 8 milioni di dollari.

Royal FrieslandCampina è una delle più grandi aziende lattiero-casearie del mondo; una cooperativa con oltre 18.000 agricoltori nei Paesi Bassi, in Germania e in Belgio. Cinque anni fa, il team di tesoreria aziendale ha...

Royal FrieslandCampina è una delle più grandi aziende lattiero-casearie del mondo; una cooperativa con oltre 18.000 agricoltori nei Paesi Bassi, in Germania e in Belgio. Cinque anni fa, il team di tesoreria aziendale ha avviato un passaggio da policy maker aziendale a dipartimento di tesoreria aziendale strategico e proattivo. Esso vanta un team operativo centralizzato quale parte di un nuovo assetto organizzativo. Lo scopo di tale cambiamento era quello di ottenere una visione globale e il controllo della liquidità dell'azienda, sostenendo al contempo le funzioni di tesoreria di base nei centri di servizio condivisi. Il primo passo è stata l'implementazione di un hub di pagamenti centralizzato che supportasse la standardizzazione dei processi di pagamento globali. Dopo che una delle principali banche di gestione della liquidità ha annunciato la cessazione dei servizi di gestione della liquidità globale, il team di tesoreria aziendale si è reso conto che se volevano dar vita al cambiamento e raggiungere i risultati previsti, ogni membro del team doveva avere un obiettivo preciso. A questo proposito, è stato creato un team dedicato alle operazioni di tesoreria che includeva un responsabile del progetto di tesoreria e un responsabile dei sistemi di tesoreria. Un altro elemento chiave alla base di questa trasformazione è stato lo sviluppo di una strategia informatica dedicata alla tesoreria, che ha stabilito linee guida chiare per la selezione dei nuovi sistemi. La scelta di soluzioni cloud è stata particolarmente importante per rendere le operazioni di tesoreria pronte per il futuro, al fine di ridurre la dipendenza complessiva dal team informatico interno e avere sempre una versione aggiornata per aumentare la velocità del processo decisionale. "Ora abbiamo gli strumenti per ottimizzare ulteriormente i nostri flussi di cassa e i processi, in modo rapido ed efficiente. Possiamo fornire una migliore visione interna e una maggiore capacità decisionale ai nostri stakeholder, e grazie all'automazione abbiamo più tempo per riflessioni strategiche." Jeroen Brieffies, Capo delle operazioni di tesoreria, Royal FrieslandCampina Questo allestimento ha accelerato la messa a punto di un processo ottimale di pagamento e riscossione globale che sarebbe diventato più efficiente in termini di tempo e di costi e meno soggetto a errori, utilizzando un'infrastruttura informatica efficiente e snella. Il Progetto Everest, come è stato chiamato, è nato nel 2017 per realizzare tali obiettivi. In seguito a un'attenta consultazione da parte dei principali stakeholder, il piano del progetto è stato delineato con quattro campi per raggiungere la vetta. 1) Netting interaziendale: I team di servizi condivisi hanno impiegato molto tempo per correggere gli errori nelle fatture interaziendali. La liquidazione dei pagamenti interni veniva elaborata su base lorda tramite conti bancari esterni. Nel 2017, la tesoreria aziendale ha selezionato Coprocess quale strumento di netting globale per la corrispondenza, la discussione e il netting mensile. Il netting di un milione di fatture all'anno è ora un processo continuo, che libera dalla pressione dell'elaborazione di fine mese da parte dei centri di servizi condivisi e riduce le spese di transazione di 100.000 euro all'anno. I maggiori risparmi vengono però ottenuti attraverso l'ottimizzazione del processo. 2) Attività bancaria interna: Per fornire una base per ridurre ulteriormente i pagamenti esterni e abbandonare il pooling nozionale, nel 2018 è stato selezionato e implementato un sistema bancario interno. Durante il processo di selezione, Kyriba ha fornito a FrieslandCampina l'opportunità non solo di creare una solida banca interna, ma anche di aggiornare e integrare la funzionalità di TMS all'interno di un'unica soluzione. La soluzione totale è stata implementata in sei mesi ed è entrata in funzione alla fine del 2018, con funzionalità di tesoreria complete e una banca interna. Dopo la conversione di pool nozionali in pool in perfetto equilibrio, la banca interna ha oltre 180 conti, e un saldo di 3,7 miliardi di euro. I primi pagamenti senza contanti su scala interaziendale, i tassi di cambio e il netting vengono registrati attraverso la banca interna, e il numero di conti bancari esterni viene ridotto di 50. 3) Payment Factory: Con la banca interna in essere, l'ultimo passo per raggiungere la vetta è l'implementazione di una Payment Factory. Tramite l'utilizzo di conti virtuali, FrieslandCampina desidera ridurre ulteriormente il numero di conti bancari e ottenere il controllo dei flussi di cassa in uscita e in entrata. Nel 2019 è stato avviato un progetto pilota con più banche. 4) Oltre la vetta: FrieslandCampina è continuamente alla ricerca dell'ottimizzazione digitale e utilizza l'efficiente impostazione del team operativo di tesoreria per raggiungere gli obiettivi. Il prossimo punto in agenda è l'implementazione del modulo di gestione del rischio di cambio di Kyriba (ex FiREapps), per automatizzare il trading sul tasso di cambio e calcolare e monitorare centralmente l'esposizione ai tassi di cambio. Verrà altresì implementata una RPA (Robotic Process Automation) per ridurre ulteriormente i passaggi manuali nei processi di tesoreria e netting. Visto che il team ora si concentra sull'eccellenza operativa, finora il progetto Everest è stato consegnato in tempo, con processi integrati, senza interruzione dell'attività, rispettando il budget e superando le aspettative. "Siamo molto orgogliosi del percorso di trasformazione digitale iniziato dalla tesoreria", afferma il responsabile delle operazioni di tesoreria Jeroen Brieffies. "Ora abbiamo gli strumenti per ottimizzare ulteriormente i nostri flussi di cassa e i processi, in modo rapido ed efficiente. Possiamo fornire una migliore visione interna e una maggiore capacità decisionale ai nostri stakeholder, e grazie all'automazione abbiamo più tempo per riflessioni strategiche.”

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.

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. 

 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 impoarted 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 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

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.

Scientist.com è la piattaforma leader di mercato per la ricerca e sviluppo in outsourcing. Questa piattaforma semplifica l'approvvigionamento di servizi di ricerca e sviluppo, risparmiando tempo e denaro, riducendo i rischi e fornendo l'accesso...

Scientist.com è la piattaforma leader di mercato per la ricerca e sviluppo in outsourcing. Questa piattaforma semplifica l'approvvigionamento di servizi di ricerca e sviluppo, risparmiando tempo e denaro, riducendo i rischi e fornendo l'accesso alle tecnologie e agli strumenti più innovativi. La necessità di una Supply Chain Finance accessibile I finanziamenti sono da sempre un problema per i fornitori di servizi di ricerca di piccole e medie dimensioni nel settore dell'outsourcing pre-clinico. Queste aziende sono spesso costrette ad accettare termini di pagamento a 120 giorni, fissati dalle grandi aziende farmaceutiche. Di conseguenza, i fornitori lottano per accedere ai finanziamenti necessari che permetterebbero loro di formulare offerte per progetti in concorrenza con rivali più grandi. "La finanza è il cuore di un'organizzazione. Se vi sono limitazioni o vincoli, si taglia l'ossigeno o l'energia per alimentare la funzionalità operativa dell'organizzazione: nuova innovazione, R&S e operazioni quotidiane" Kris Kagan, Vice Presidente dell’Area Finance, Scientist.com Anche se le grandi aziende farmaceutiche utilizzano programmi di Supply Chain Finance (SCF), spesso non sono accessibili ai fornitori più piccoli. Per esempio, un programma può acquisire solo fornitori che apportano milioni di dollari in termini di spesa. Inoltre, anche se i fornitori soddisfano tale criterio, il processo di onboarding può richiedere mesi per essere completato e rivelarsi dispendioso per il fornitore del programma, poiché i grandi fornitori tendono ad avere alti costi operativi. Il programma di pagamento anticipato salvavita di Scientist.com Scientist.com si è reso conto che se un'opzione di pagamento anticipato venisse resa disponibile ai fornitori di tutte le dimensioni attraverso un programma di SCF, più aziende sarebbero in grado di concentrarsi sull'innovazione, piuttosto che sulla sola copertura dei costi operativi. In definitiva, ciò stimolerebbe la scoperta di nuovi farmaci. Scientist. com ha altresì identificato il potenziale, per la propria azienda, di ottenere un nuovo flusso di profitti in rapida crescita fornendo finanziamenti ai fornitori. Così, nel 2019, Scientist.com ha lanciato SciPayTM, una soluzione di capitale circolante di Kyriba che presenta opzioni di pagamento anticipato, onboarding rapido, gestione delle fatture e sconto dinamico per contribuire a finanziare la ricerca per qualsiasi organizzazione, indipendentemente dalle sue dimensioni. Così facendo, i fornitori di servizi di ricerca hanno accesso ai finanziamenti necessari per formulare offerte su progetti che prima erano bloccati a causa della mancanza di risorse. Mettere in gioco SciPay - Ridurre il rischio e creare opportunità Per trovare i migliori candidati per SciPay, Scientist. com ha sfruttato le proprie relazioni di lunga data con clienti di grandi aziende farmaceutiche e biotecnologiche, nonché il proprio portafoglio di oltre 3.100 fornitori. In pochi mesi, 45 fornitori indicati come piccole imprese si sono iscritti al programma. Aderendo al programma, si riduce il rischio sia per i fornitori che per gli acquirenti. Per gli acquirenti, SciPay mantiene inalterate le attività, assicurando che il lavoro sia completato prima del pagamento di una fattura e consentendo termini di pagamento estesi che non interrompano la filiera, poiché Scientist.com si assume l'onere del pagamento. Per i fornitori, i pagamenti anticipati si traducono in crescita, consentendo loro di formulare offerte su progetti a cui prima non avevano accesso, ora che hanno il capitale circolante per coprire i costi operativi. Scientist.com ritiene che il successo di SciPay sia il risultato sia del suo forte impegno interno nei confronti dell'iniziativa, sia della sua partnership strategica con Kyriba. Lavorando insieme, i team di finanza e sviluppo hanno integrato la piattaforma di SCF di Kyriba con i sistemi operativi esistenti di Scientist.com, nonché la sua banca, per garantire che i pagamenti e i dati di SciPay fluissero in modo sicuro e senza intoppi. "Abbiamo scelto Kyriba per due motivi principali", ha affermato Kris Kagan, Vicepresidente dell’Area Finance di Scientist.com. "Ci ha fornito l'opportunità di un programma di pagamento anticipato e siamo stati in grado di utilizzare tale programma di pagamento anticipato e unirlo ai moduli di TMS di cui Kyriba dispone. La seconda ragione è che eravamo alla ricerca di partner nel settore che potessero rendere scalabile la nostra attività, e Kyriba è stato un partner incredibile". Accelerare il processo di innovazione L'innovazione scientifica ora sta avvenendo più velocemente che mai grazie a SciPay. Nel complesso, l'intero ciclo di vita del processo di approvvigionamento è stato ridotto del 50% e il processo source- to-settle è stato accelerato dell'80%. Di conseguenza, i ricercatori possono eseguire progetti ed espandere le loro linee di prodotti più rapidamente. Il processo di innovazione sta diventando anche più efficace in termini di costi per gli acquirenti di servizi di ricerca. Quando vi sono più fornitori con capitale circolante sufficiente per proporre offerte sui progetti, è possibile ridurre il prezzo del progetto. SciPay ha apportato alcuni significativi vantaggi commerciali anche a Scientist.com. In primo luogo, si ha un vantaggio competitivo quando si tratta di attirare i fornitori di ricerca verso la propria piattaforma. Il fatto che i fornitori debbano solo iscriversi a un programma di SCF, piuttosto che a più programmi, senza alcuna barriera all'ingresso, è molto allettante. Inoltre, gli acquirenti di servizi di ricerca sono in grado di raggiungere facilmente oltre 3.100 fornitori registrati in tutto il mondo in un unico posto. Infine, poiché Scientist.com utilizza il proprio capitale circolante per finanziare i fornitori, ha aumentato le entrate attraverso l'implementazione di SciPay. In definitiva, SciPay ha uno scopo più grande di quello di essere una piattaforma finanziaria. Promuovendo una maggiore concorrenza nel mercato della ricerca e consentendo ai fornitori di scoprire più rapidamente farmaci salvavita, SciPay sostiene l'ambiziosa missione di Scientist.com di contribuire a curare tutte le malattie dell'uomo entro il 2050.

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.

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

Cash and liquidity management entails a multitude of tasks, including cash positioning, cash forecasting and reconciliation, in-house banking, generating journal entries for bank transactions, posting transactions to the general ledger and reconciling bank transactions...

Cash and liquidity management entails a multitude of tasks, including cash positioning, cash forecasting and reconciliation, in-house banking, generating journal entries for bank transactions, posting transactions to the general ledger and reconciling bank transactions to accounting entries. All of these tasks are necessary to gain clear visibility into an organization’s cash, visibility that is needed to support critical financial decisions and strategic business objectives. Learn more Optimizing Cash Visibility into an organization’s cash position, including location, currency and liquidity position is vital. With a timely and accurate picture of global cash across all banks in differing regions, treasury can create more accurate forecasts that deliver confidence. This can be achieved by leveraging market-leading technology. To properly manage cash and liquidity, organizations need to leverage a technology that provides: •  Cash positioning •  Cash forecasting and reconciliation •  In-house banking •  Journal entry generation for bank transactions •  Posting of transactions to the general ledger •  Reconciliation of bank transactions to accounting entries Cash Management and Forecasting With technology, automated preparation and reconciliation of an organization’s daily cash position allows treasury to start each day with a cash position worksheet to visualize cash positions through a combination of bank balances and transactions with expected workflows. Access to this information at the start of the day means that treasury has more time to build and analyze global cash forecasts. And the continued use of technology allows organizations to compare forecasts to actuals for any horizon to help improve forecast accuracy.

Foreign exchange (FX) risk is a risk that exists when transactions take place in varying currencies outside of a company’s functional currency. This risk occurs when a company’s exposure to the currencies it does...

Foreign exchange (FX) risk is a risk that exists when transactions take place in varying currencies outside of a company’s functional currency. This risk occurs when a company’s exposure to the currencies it does business in is not properly managed. If a volatile movement occurs in one of the transactional currencies and the company has not managed the exposure to that currency (either via organic exposure elimination or hedging), then they are susceptible to negative impacts to their earnings per share (EPS) and earnings before interest, tax, depreciation and amortization (EBITDA). Learn more Mitigating FX Risk To avoid impacts to earnings, organizations work to manage their FX exposure and risk. This can be done by organically eliminating exposures internally or by hedging exposures. Balance Sheet Exposure Management Balance sheet exposure management entails treasury professionals measuring, monitoring and managing currency exposure and the associated risk from their balance sheet. The benefits of balance sheet exposure management include: •  The ability to manage EPS @ risk to the industry MBO of less than $0.01 •  Increased exposure identification •  Increased visibility to exposures •  Reduced program costs •  Reduced FX risk •  Improved hedge program Cash Flow Exposure Forecasting Cash flow exposure forecasting consists of the creation, analysis and management of currency exposure from forecasted transactions and cash flows. The benefits of cash flow exposure forecasting include: •  Improved predictability of EBITDA •  Increased forecast accuracy •  Increased participation in the cash flow process •  Reduced cost of hedging

A payment hub is a centralized hub where all payment streams across an organization are consolidated and processed in a centralized manner.

A payment hub is a centralized hub where all payment streams across an organization are consolidated and processed in a centralized manner. The payment streams can come from different ERP or other payment initiating systems by teams such as Accounts Payable, Treasury, Finance and HR. The consolidated payment streams are then transformed into a single source of record for all outgoing payments and incoming payment confirmation, statements and transaction records. A payment hub is also capable of converting payment data into bank-specific file formats and connecting directly with global banks through required connectivity options, such as host-to-host, API or SWIFT. In centralizing and standardizing corporate payments, payment hubs improve process efficiency, team productivity and reduce fraud risks. What Are the Pain Points Without a Corporate Payment Hub? Processes for managing corporate payments are traditionally challenged by the sheer volume of payment activities and its manual processing inefficiency. Usually there are different teams who need to process payments and they are de-centrally located, causing communication and visibility challenges too. In the absence of a payment system to manage the payment process across different teams, some of the most outstanding pain points are: Outdated back-office payment systems requiring extensive and costly IT support Long lead time to connect to banks via API or H2H with own IT resource Unavoidable payment errors and oversights from manual processing Potential money loss from undiscovered duplicate payments Increased operational risks due to potential fraud and non-compliant payments Slowness to leverage faster payment rails (e.g., RTP®) or other nascent payment methods (e.g., Zelle) to support customers’ evolving payments needs How Do Corporates Benefit from a Payment Hub? Payment hubs deliver a wide range of benefits for treasury and finance leaders, such as efficiency, flexibility, security, reporting & analytics, and scalability. The following benefits have been identified by Kyriba clients as the most outstanding: Cost savings: A payment hub reduces the number of systems that need to connect to a bank, thus reducing bank service fees and software costs. Central responsibility: With the use of a single system to request, initiate, approve and transmit payments, a single team is responsible for all payments and the risk of mistakes and unauthorized payments is lower. Global visibility: By centralizing payments via a payment hub, treasury has complete visibility to all outgoing cash flows in one place, allowing for the optimization of cash balances and enabling more effective decisions on cash and liquidity deployment. Eliminated reliance on IT: Since modern payment hubs are usually hosted in the cloud and offered as SaaS platforms, with features such as automated bank format generation and integrated bank connectivity, there is no need for IT to build and maintain bank connections. Fraud detection and compliance: All outgoing payments are screened in real-time against external sanction lists and a digitized payments policy to ensure only authorized payments are transmitted. Key Features of a Payment Hub Usually a well-designed, fully implemented corporate payment hub should cover the following main features, with possibility for customization too: Standardized workflow and controls: Payment workflow and controls ensure manual payments activities align to the organization’s payment policy and standardized payment controls. Payment screening and fraud protection: Real-time screening of payments and fraud detections act as a line of defense against unauthorized payments. Global bank connectivity: By integrating with banks across the globe, payment hubs deliver out of the box, host-to-host and regional network bank interfaces. Pre-built format libraries: Payment hubs are able to meet the needs of various global banks and can accommodate thousands of format variations. Two-way communication: Receipt of payments acknowledgements, payments tracking and bank status reporting are communicated to all parties for status reporting and visibility. Data visualization and analytics: with bi-enabled data visualizations, finance and treasury can gain in-depth insight into global payments and have access to enhanced analytics. Difference Between a Payment Hub and an In-House Bank An in-house bank (commonly referred to as IHB) is a dedicated group or legal entity within the organization that provides banking services such as cash management, payments-on-behalf-of (POBO), and collections-onbehalf-of (COBO) to different business units within the company. In simple terms, an IHB centralizes payment flows and balances by executing all transactions through one designated entity. While IHBs and payment hubs are both financial systems that can help organizations manage their payments and cash flow more efficiently by centralizing activities, they serve different purposes. An IHB is an internal unit that consolidates banking information and cash activities to give the company centralized control and visibility and help streamline cash management and reduce costs, as well as improve financial reporting. And a payments hub can actually be introduced as part of an IHB implementation. Global companies often find themselves in the situation that different entities or departments make payments to the same third-party vendor(s) through their own local banks, which creates a great opportunity for consolidation to save costs and lower complexity. The introduction of an IHB allows organizations to utilize a payments-on-behalf-of (POBO) model to consolidate and streamline payments that are being made to the same vendor, and a payment hub is a great tool to support such initiative, because it provides the needed workflow design and automation to facilitate a quicker implementation of an in-house banking structure. How to Select the Right Payment Hub Solution The decision to select a payment hub provider must be made not only to meet present-day requirements but also have the scalability to support future needs: What is the growth plan for your organization in the next 3-5 years? Is there any upcoming divest or M&A? Does your company plan to expand into new geographic territories? How many new banks might be added to your payments landscape? All these questions are good to ask when you select a payment hub. The following best practices are useful when selecting a payment hub provider for your current and future payment needs: Functionality: A payment hub should provide all the basic and advanced functionality to meet the current and future payment needs of an enterprise with a global banking footprint. Knowing your organization’s growth plan is important. Understanding your vendor’s roadmap is equally important so that you can map your needs to the capabilities of your vendor. A pre-built formats library: Dedicated bank payment format development is a key differentiator to separate a basic payment hub from a sophisticated one. Therefore it is important that you ask your vendor who will take care of all the future format development and maintenance after the payment hub is implemented, especially when you do not have the resources at your disposal for this task. Security: Security is the backbone of any payments operations. A vendor’s security ops are most often invisible to a buyer but there are still things that you can validate. This includes ISO 27001 certification, SOC1/SOC2 compliance, SWIFT compliance, disaster recovery, cyber security operations, cloud security, just to name a few. Kyriba handles its security operations to the highest industry standards. Alignment: Geographic alignment with your payments program is key. If your payment banks exist in North America, Europe, Asia or Latin America, then so too should the implementation and product support of your payment hub vendor. How to Implement a Payment Hub Implementing a payment platform can be a complex process, that is why it is important to follow some best practices throughout the process. Define your requirements: Take an inventory of the types of payments you need to process, the main and secondary banks your payments are being executed, the amount of bank accounts you need to manage, and more importantly, the possible future payment needs that you might need to support, for example, real-time payments and ISO 20022 XML format migration. Choose a payment hub solution: Once you have defined the requirements, you can start to evaluate the different solutions and initiate an RFP to gather information. As listed above, it is important to find a solution that can meet your business needs both today and tomorrow. Integrate with existing systems: A payment hub is to be connected to your ERP, Account Payables or Payroll systems where payments requests will be initiated. This may involve a lot of custom development because system interfaces can vary. It is recommended to consider using connectivity-as-a-service to speed up this process. Integrate with banks: Depending on how many banks you need to connect, this can take time and it's important to thoroughly test the bank connections to ensure payments will be sent through different channels correctly. Many Kyriba clients choose to start in selected regions or banks before global roll-out. Deploy and optimize: This may involve tweaking or updating payment policies and approval rules, adding new payment types or channels, or optimzing the number of banks and bank accounts. In summary, implementing a payments hub requires a comprehensive understanding of your own corporate payments scope and needs and extensive expertise in system and bank integration. Working with experienced payment technology partners can speed up the implementation and minimize unforeseeable risk events. How to Manage Payment Approval Workflows with a Payment Hub A payment hub facilitates the establishment of a standardized payment approval process and offers many features to streamline the process. Companies can follow their existing workflows and implement those or use the opportunity to follow some industry best practices to renew the approval workflows in order to enhance payments security. The following depicts a typical payment approval workflow management process: Define Payment Approval Policies: The first step is always to establish payment approval policies and procedures that are consistent with your company policies, such as payment limits, approval authority, signature rights and how to handle exceptions, urgent payments or escalations. Configure Payment Approval Workflows: Use the payment hub to set up the designed payment approval workflows. Make sure that all the defined policies are implemented in the payment hub and tested too. Assign Approval Roles and Permissions: Set up individuals or groups according to the defined responsibilities and approval authority. Activate Automated Alerts: Leverage the payment hub automated alerts features to ensure timely process of any payments approvals, exceptions, rejections or emergencies. This can include setting up automated approval rules and alerts for pending approvals or payments that require extra attention. Monitor and Audit: Regularly monitor and audit your payment approval workflows to ensure compliance with policies and identify any changes or potential risks. For example, one best practice is to organize regular audits of the signees and their approval authority to minimize internal fraud risks. Allocate resources for training: Ensure that all team members who are involved in the payment approval process are given enough trainings on the policies, procedures, and systems used, in order to avoid unnecessary human errors. All in all, managing payment approval workflows with a payment hub can greatly enhance compliance with policies and regulations, reduce payment errors and fraud risks, and improve cost and productivity efficiency.     ROI of Using a Payment Hub Solution A payment hub solution can generate tremendous tangible return on investment (ROI). Kyriba client Oracle Cerner saved 930 IT hours per year, including 410 hours of SWIFT AL2 maintenance and 520 hours of bank connectivity maintenance by migrating to Kyriba SWIFT Service Bureau with the following features: Faster bank connectivity through Open APIs A Payment Hub to consolidate and create a consistent and automated file and payment instruction pathway ERP integration for reporting to and from related systems SWIFT BIC automation facilitates bank communication via SWIFT Service Bureau Another good example is from Kyriba’s client Adobe. As an organization which has 125 global users manually logging into 10+ banking portals on a daily basis to process payments and statements, the use of Kyriba’s payment hub solution has led to a centralized repository of 24 signers tracked and eight bank letter templates maintained with four banks connected for bank fee statement reporting and proactive fee management. Examples of Payments Hub Software Some examples of payment hub software include ERP systems with integrated payment modules, standalone payment gateway solutions, and specialized payment management software that consolidates various payment systems into a single platform. Kyriba offers a pre-connected, multi-bank and secure global payments network for organizations of all sizes. The payment solution centralizes and standardizes company-wide payments workflows to enhance both controls and efficiencies with task automation, error management, fraud detection and full status visibility, all integrated in one payments hub.   

Payables finance, also known as accounts payable (AP) financing, is a form of working capital financing that enables businesses to access liquidity tied up in outstanding invoices. Payables finance is a form of short-term...

Payables finance, also known as accounts payable (AP) financing, is a form of working capital financing that enables businesses to access liquidity tied up in outstanding invoices. Payables finance is a form of short-term borrowing for suppliers leveraging on their Buyer’s risk. It allows buyers to improve their working capital and suppliers to improve their cash flow by borrowing against unpaid invoices. It can also be used to strengthen supplier relationships by paying invoices early. What Programs Are in Payables Finance Solutions? Payables finance solutions help CFOs and senior strategic leaders generate free cash flow by extending payment terms and improve EBITDA by paying earlier their suppliers with their excess cash against a discount. There are typically two types of such programs: Supply chain finance is a system of financial tools used to manage the liquidity of a business’s supply chain. By providing access to capital, businesses can better manage their working capital and optimize the flow of goods and services. Dynamic discounting is a process that enables companies to take advantage of early payment discounts from suppliers. By taking these discounts, suppliers can improve their cash flow, reduce their cost of capital, and gain early visibility into their cash position while buyers can improve their EBITDA Another form of payables finance is hybrid dynamic discounting. Hybrid dynamic discounting is a cash management solution allowing treasury teams to automate arbitration between supply chain finance or dynamic discounting, depending on cash availability at any given point in time. This flexible solution provides access to liquidity on a consistent basis, securing the supply chain while providing suppliers with consistent cash flow. These payables finance programs create win-win scenarios for buyers and suppliers, while also enabling better working capital management to increase the health of organizational supply chains. Scroll down to find out more about Payables Finance, supply chain finance, and dynamic discounting. How Does Payables Finance Work? Payables finance is an efficient way to access liquidity tied up in unpaid invoices. Suppliers can request early payments for their outstanding invoices to a payables finance provider assigned by the Buyer and leveraging on their risk.   What are the Benefits of a Payables Finance Solution? Payables finance can provide businesses with access to working capital, allowing them to take advantage of new opportunities and investments. It can also help businesses build better relationships with suppliers by paying invoices early, and can provide greater control over cash flow management. Payables finance is a simple and cost-effective way to improve liquidity and increase operational efficiency. Payables finance solutions have many benefits for both buyers and sellers. For buyers, using a payables finance solution provides: Enhanced cash visibility & predictability Reduced account payable inquiries Improved critical supplier relationships Financial incentive for sustainability and responsible sourcing For suppliers, a payables finance solution delivers: Access cash faster Remittance information at no cost with reduced account receivable queries Financial incentives for sustainable and responsible sourcing What is Supply Chain Finance? Supply chain finance is a working capital credit facility giving suppliers the flexibility to “sell” approved invoices to financial institutions for a discount that is dependent on the credit risk of the buyers. Designed to reduce the costs of doing business, this system allows suppliers the ability to receive early payment of the receivable(s) owed and enables buyers to optimize their payment terms, all while strengthening their supply chain. These types of programs are funded by a financier and are ideal for organizations looking for term extensions on their payables to improve cash flow performance. How Does Supply Chain Finance Work? Supply chain finance works by connecting buyers, suppliers, and financiers in a mutually beneficial relationship. Buyers and suppliers access the platform to connect, manage, and automate payments, while financiers provide the funds for payment. SCF solutions provide buyers with extended payment terms, while suppliers can access early payment at a discount. This process helps buyers manage their cash flows, while suppliers can access working capital to meet their needs and grow their businesses. The result is improved liquidity, cash flow, and working capital for all participants in the supply chain. What are the Benefits of Supply Chain Finance? The key benefits of SCF include: improved liquidity and access to capital increased efficiency cost savings improved supplier relationships increased visibility into the supply chain SCF also helps to reduce risk, providing companies with the ability to reduce their exposure to supplier risk, as well as reduce their working capital obligations. By leveraging the power of their supply chain, companies can gain access to low-cost financing and secure working capital for growth. How Supply Chain Finance Helps Create a Sustainable Supply Chain Organizations can use supply chain finance as an incentive for suppliers to integrate sustainability policies. The need for a code of ethics and responsible sourcing continues to grow as the global supply chain expands. In response to this growth, as well as consumer demands and investor preferences to do business with sustainable companies, an increasing number of companies are instating environment and social governance (ESG) or corporate social responsibility. While many consumers and investors see sustainable businesses as being less risky, it can be difficult to implement and maintain these standards. In addition, there is a lack of incentives – both tangible and financial – for suppliers and as a result they may be non-compliant. In being non-compliant, the suppliers, who are the ones providing the resources to meet the standards, disrupt the standards set forth by the company. To remedy this, organizations can use supply chain finance as green finance through the association of the financing rate with ESG parameters. What is Dynamic Discounting? Dynamic discounting is an early payment method that allows buyers to offer suppliers the ability to receive early payment in exchange for a discount or financing fee at a lower cost of funding than they can achieve on their own. Dynamic discounting programs are best suited for companies with excess cash and liquidity that are looking for an alternative to low-yield, short-term investments in order to earn risk-free returns on cash. With a dynamic discounting working capital solution, suppliers can: improve their own working capital increase production efficiencies drive growth How Does Dynamic Discounting Work? Dynamic discounting works by providing an incentive for buyers to pay a supplier’s invoices early. The buyer agrees to pay the supplier’s invoice before the agreed-upon due date in exchange for a discount on the total invoice amount. This discount is usually a percentage of the total invoice amount, and is set at the discretion of the buyer. It is also important to note that dynamic discounting is not a loan, as the buyer is not borrowing any money from the supplier. What are the Benefits of Dynamic Discounting? Dynamic discounting can help both buyers and sellers reduce the cost of their accounts payable and accounts receivable processes. Dynamic discounting enables buyers to: generate high returns on available cash reduce cost of goods sold (COGS) grow profit and EBITDA margins reduce working capital costs improve control over their cash flow Dynamic discounting can help sellers: accelerate their cash flow increase their bottom line profits. Kyriba’s Payables Finance Solutions Kyriba’s Payables Finance solutions help businesses streamline their accounts payable process and maximize working capital. Kyriba supports dynamic discounting and Supply Chain Finance solutions, as well as a special hybrid of both.

Working capital management involves managing a company's short-term assets and liabilities to ensure efficient use of resources and maintain the financial health of the business.

Working capital management involves managing a company's short-term assets and liabilities to ensure efficient use of resources and maintain the financial health of the business. It includes balancing current assets and liabilities to meet operational needs while preserving liquidity. How Is Working Capital Calculated? Working capital is calculated by subtracting a company's current liabilities from its current assets. It represents the available capital a company can use for its daily operations and is indicative of the company's short-term financial health. Working Capital = Current Assets - Current Liabilities Additionally, it can be helpful to calculate the working capital ratio, also known as the current or liquidity ratio. To calculate the working capital ratio, divide a company’s current assets by its current liabilities. Working capital metrics are essential for measuring available funds for operations and growth. Why Is Working Capital Important? Working capital is crucial as it funds daily operations, pays bills, and makes investments. If not managed properly, businesses may struggle to pay bills, hire new employees, upgrade equipment, or invest in new projects. Effective administration of working capital is essential to running a successful business. What Does Negative Working Capital Mean? Negative working capital occurs when a company's current liabilities exceed its current assets. It indicates that the company may struggle to finance its daily operational needs and meet its short-term debts, potentially leading to financial distress. Negative working capital can have a significant impact on a company’s operations and financial health. Consequences of negative working capital include: Cash flow problems, as the company is unable to meet its financial obligations Reduced profitability A decrease in the company’s credit rating Inability to secure additional financing If negative working capital is not addressed, it can eventually lead to insolvency and bankruptcy. How Can Working Capital Be Optimized? Optimizing working capital involves finding the right balance between current assets and liabilities. It can be achieved through careful inventory management, efficient handling of accounts receivable and payable, and accurate cash flow forecasting. Simply put, optimizing working capital means mobilizing liquidity by injecting cash into supply chains. What is a Working Capital Program? A working capital program is a strategy to optimize working capital. It includes measures like payables finance and receivables finance solutions, which allow organizations to fully leverage their supply chain and optimize payment terms. A program to optimize working capital may involve offering suppliers the ability to take early payments for invoices on demand, which has the following benefits: Supports and protects suppliers Shields organizations from shocks Allows suppliers the ability to do more business With a working capital program in place, organizations can easily tie sustainability objectives with financial incentives to encourage better behaviors as opposed to punishing suppliers for negative behaviors. What is Reverse Factoring? Reverse factoring is a supplier finance solution that optimizes cash flow by allowing sellers to be paid early for unpaid receivables from customers. It's a strategy that can help unlock working capital. To find out how one company effectively uses reverse factoring to transform supplier finance, read the following Kyriba success story: Modernizing International Supplier Finance with Reverse Factoring Programs. How Can Financial Institutions Benefit from Working Capital Management Strategies? Financial institutions can differentiate themselves from the competition and foster better relationships with corporate clients by offering working capital programs. These programs can help businesses optimize their working capital, thereby improving their financial health. Financial institutions, such as banks, will often partner with technology vendors to create white label programs for supply chain finance. Some of the reasons banks choose to partner with technology vendors are: SaaS environment: eliminates the need for technical hardware and support Highly configurable software: customizable features that easily adjust to programs (by buyer, funder, and jurisdiction requirements) Automated processes: loads files, e-notifications, sell offers, purchases, early payments, and final settlement Fully-integrated products: technology vendors like Kyriba makes it easy to deliver a fully integrated product that can be customized and branded to proper specifications, such as marketing and website content, translations, URLs, privacy notices, email templates, and branded web portals. Stand out from the competition: elevates and differentiates a financial institution’s offerings, both in the short- and long-term Choosing the Right Working Capital Solution The right solution is critical to successful working capital management, whether or not an organization uses a payables finance or receivables finance program. When evaluating software and vendors to support these programs, it is imperative that organizations look for a solution with expert teams, a multi-funder platform, program flexibility, supplier onboarding, and a complete workflow — including cash visibility, forecasting, payments, and pre-built ERP integration. Kyriba’s Working Capital Solution meets these criteria and enable companies to improve payables and receivables management, increasing cash conversion and accelerating cash flow. Below are some of the benefits Kyriba clients are taking advantage of by choosing Kyriba's Working Capital Solution, including mitigating supply chain risks with flexibility, certainty, and corporate responsibility: Flexibility: with supply chain finance, dynamic discounting, and purchase order financing, companies use liquidity from the most efficient sources at different stages of trading Certainty: an integrated cash forecasting solution increases the accuracy of cash and working capital projections, enabling finance and treasury teams to optimize their use of internal and external cash pools to unlock additional liquidity for suppliers across the globe Sustainability: buyers can more easily work with sustainability-minded businesses who have greater access to affordable capital for all suppliers and the capacity to supplement corporate social responsibility (CSR) and environmental, social, and government (ESG) programs Kyriba’s cloud-based treasury and finance solutions can help you take control of your working capital with modules such as dynamic discounting and approved payables financing (supplier finance), including a special hybrid of both. Kyriba’s supply chain finance (SCF) solutions, which is also part of the Kyriba's Working Capital Solution, prioritize the customer experience – from supplier onboarding to ERP integration to funding requests and reporting. System users enjoy a seamless experience, staying informed and engaged without sacrificing convenience. Mastering Working Capital for Financial Excellence From calculating working capital to the implications of negative working capital, each aspect of working capital management plays a role in determining operational agility and growth potential. Strategies to optimize working capital include careful inventory management, efficient accounts handling, and precise cash flow forecasting. These approaches pave the way for mobilizing liquidity and injecting cash into supply chains, ensuring a balance between assets and liabilities. Implementing effective working capital management is not just a financial necessity; it stands as a strategic imperative for sustainable success.

Treasury management is the process of managing an organization's liquidity, money market instruments, banking, concentration and disbursement activities. Treasury constantly monitors cash inflows and outflows in order to optimize the company's liquidity position. This...

Treasury management is the process of managing an organization's liquidity, money market instruments, banking, concentration and disbursement activities. Treasury constantly monitors cash inflows and outflows in order to optimize the company's liquidity position. This includes managing all the financial risks associated with running a business. Treasury Management Objectives and Processes The objective of treasury management is to ensure that an organization's short- and long-term goals are achieved. Treasury management provides a means for an organization to effectively manage its liquidity, minimize risk exposure, and maximize the efficient use of resources. Treasury management also plays an important role in financial planning. If you want to know when your business will be profitable or how much debt or equity funding is needed for expansion plans over the next few years, having accurate projections about your company's financial health will be essential. Treasury management is especially important for large organizations that need to ensure they are never short on cash but also don't have too much cash available at any time. Examples of these organizations include banks and other financial institutions, governments and major corporations. Treasury management is critical to a company’s success. Treasury Management has a number of objectives to consider: Liquidity Management: The ability to meet short-term obligations when they arise (like paying employees or suppliers) is critical for any business that depends on cash flow from customers paying them later rather than sooner (like most businesses). Liquidity management involves planning and implementing strategies that ensure that an organization has enough money on hand to meet all its obligations, as well as maintaining adequate reserves for unexpected expenses. Working Capital Management: Working capital refers to the difference between current assets and current liabilities. It is important for treasury to manage this ratio so that it remains in balance with other financial metrics such as profitability and liquidity ratios. If your company has too much or too little working capital, it could negatively impact its ability to pay bills on time or invest in new projects that could help grow sales over time. FX Risk Management: To avoid impacts to earnings, treasury works to manage their FX exposure and risk. This can be done by organically eliminating exposures internally or by hedging exposures. Interest Rate Risk Management: Interest rates can change depending on economic conditions, which means they may go up or down depending on where we are in our business cycle at any given moment—and how much confidence people have in their investments at any given moment affects those rates as well. Managing interest rate risk means making sure that if interest rates rise while a company has outstanding debt obligations, then those debts won't become unaffordable when payments increase due to higher costs associated with servicing those loans. Challenges of Treasury Management Treasury management continues to become more complicated, thanks in part to global connectivity and multinational expansion. Here are some of the challenges companies can face in treasury management: Managing cash flow around the world is much more challenging than it once was. Companies must protect themselves from currency fluctuations by hedging their foreign exchange risk or investing in other currencies. Treasury departments need more sophisticated risk management tools to ensure they aren't exposed too much when they trade currencies on behalf of their subsidiaries or clients overseas. Payments fraud continues to evolve with technology, and treasury must always be one the lookout for the latest schemes. Keeping track of where money is coming from and going to is perhaps the greatest challenge for treasury. A company's cash flow can come from multiple sources—customers, suppliers, banks and shareholders. It's important for companies to always know where its money is in order to make sure it has enough funds available when needed. This is especially true for multinational companies whose business operations span multiple countries or regions with different currencies; if there are discrepancies between what an organizations thinks its balance should be and what it actually turns out to be after accounting for all incoming and outgoing payments, then there could be serious problems in the future. Differences Between Treasury Management and Cash Management Treasury management and cash management are terms that are often used synonymously by financial institutions as they offer similar services. However, they have important differences. Cash management is the process of managing a company's money flow and ensuring that it meets all its near-term obligations. Cash management can involve several different activities: Monitoring daily balances in bank accounts and other financial instruments that are used for payments Forecasting future inflows/outflows from these accounts Deciding how much money should be held at any given time based on forecasts Treasury management is much broader than cash management. Treasury management allows corporations to manage all aspects of their finances, including cash flow and liquidity. In terms of technology, both cash management and treasury management systems are designed to help an organization better manage its money. However, they do so in different ways. A cash management system helps to keep track of how much money an organization has at any given time by making it easy for employees to make payments through the company's bank account or credit card account (if applicable). A treasury management system goes one step further by helping companies track all their accounts in one place so they can see where every dollar goes at any given time--including the ones used outside of normal business hours or during special projects such as purchasing new equipment or renting space at an event venue. Treasury Management Advantages Treasury management is a crucial part of any business, but it’s especially important for multinational companies. This is because they have to deal with both local and global factors that affect how money flows around their operations and between countries. If a company does not properly manage its finances, then it could potentially lose out on much-needed capital or even face legal penalties for violating regulations in other countries.

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.

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.

Who are the biggest players in treasury and risk management, and how are cloud-based solutions driving transformation? IDC, one of the largest technology analyst firms in the world, tackles these questions and more in...

Who are the biggest players in treasury and risk management, and how are cloud-based solutions driving transformation? IDC, one of the largest technology analyst firms in the world, tackles these questions and more in its new MarketScape report: “Worldwide SaaS and Cloud-Enabled Treasury and Risk Management Applications 2017–2018 Vendor Assessment.”

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.

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 treas