Kyriba Corp. Reports 40 Percent Sales Growth in First Quarter of 2017
New Innovations in Risk Management and Payment Control Capabilities Fuel Global Demand
NEW YORK, May 11, 2017 –Kyriba Corp., the global leader in cloud-based treasury, cash and risk management solutions, today announced a 40 percent year-over-year increase in first quarter sales, including a whopping 80 percent increase in North America, as demand continues to soar for the company’s integrated financial solutions among global brands. The company added 54 new logos during the quarter, including several Fortune 500 organizations.
The rapid growth is a result of the ongoing adoption of SaaS-based solutions among financial executives who want to modernize their treasury operations, increase ROI and better manage risk. During the quarter, Kyriba launched several enhancements to its risk management and payment controls modules to help address global currency volatility and payments fraud, which continues to grow at an alarming rate. According to a study by the Association of Financials Professionals (AFP), a staggering 74 percent of finance professionals report their companies were victims of payments fraud in 2016.
“Today’s senior executives seek proactive, secure risk management and payments solutions to mitigate currency devaluations and avoid complex fraud schemes that can result in significant losses,” said Jean-Luc Robert, chairman and CEO of Kyriba. “We have made significant investments in our platform to help our customers combat these issues and drive more strategic value to their organizations.”
Kyriba signed many mid-market to large enterprise businesses from a range of industries such as hospitality, insurance, retail and auto manufacturing. Kyriba now has more than 1,500 customers worldwide.
“As a multinational property and casualty insurance company, risk management is at the top of our priority list,” said Evan Greenstein, SVP, global treasurer of AmTrust Financial Services, Inc. “We selected Kyriba to better secure and modernize our treasury operations.”
Kyriba also signed several major strategic partners during the quarter, including BSP, FHL, Netsoft, RSM and World First. The company continues to see strong traction with its partner program, which contributed an impressive jump in overall sales activity during the quarter.
Both partners and customers alike have responded to Kyriba’s innovation around helping organizations improve financial controls and protect the value of their financial assets. Kyriba’s platform helps standardize payment approval processes and align treasury controls with security policies. This quarter it added new payment capabilities to protect clients from the growing risks of fraud and cybercrime, including controls to determine under which conditions payments can be edited and approved, as well as greater options for payment documentation attachment and review.
To learn how your organization can increase the strategic function of its financial professionals, contact us at [email protected].
About Kyriba Corp.
Kyriba is the global leader in cloud-based treasury, cash and risk management solutions, delivering Software-as-a-Service (SaaS) financial technology to corporate CFOs and Treasurers. More than 1,500 global organizations use Kyriba to enhance their global cash visibility, improve financial controls, and increase productivity across their cash and liquidity, payments, supply chain finance and risk management operations. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Singapore, Dubai, Hong Kong, Shanghai and Rio de Janeiro.
To learn how your organization can increase the strategic function of its financial professionals, contact us at [email protected]. To learn more about Kyriba PartnerSURGE or join our partner program, contact us at [email protected].
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Daniel Shaffer, [email protected], +1 (858)263-2218
2017 AFP Payments Fraud and Control Survey—Association for Financial Professionals