Kyriba Launches AI-Driven Cash Management
New Solution Optimizes Enterprise Liquidity with AI Powered Cash Forecasting
SAN DIEGO – September 15, 2022 – Kyriba, (“the Company”), a global leader of cloud-based finance and IT solutions, today announced the launch of Cash Management AI, a new solution based on Artificial Intelligence, which uses data science technologies to predict cash availability with increased speed, control and reliability. The new AI-driven Cash Management solution improves companies’ cash management and forecasting capabilities. It will therefore mobilise greater confidence and precision for the financing of investments, an important priority for treasurers given the current environment of rising interest rates and market volatility.
According to a recent survey by IDC, 93% of finance leaders leverage real-time insights and 99% of have adopted business intelligence to make better liquidity decisions1. The report finds that finance leaders without a strong data strategy incorporating APIs, BI and AI become burdened by inferior solutions and are unable to consume, analyse and leverage terabytes of structured and unstructured data efficiently.
“With increasing market volatility, CFOs are demanding greater accuracy and reliability from their cash forecast,” said Jean-Baptiste Gaudemet, SVP of Data Analytics at Kyriba. “Data science and analytics are needed to learn from the vast amounts of information that finance teams manage every day. Artificial intelligence helps CFOs harness data to make more informed, rapid and effective decisions.”
Key features of Kyriba’s Cash Management AI include:
- Artificial Intelligence (AI): Using built-in Machine Learning, Cash Management AI automatically learns from historical data and continuously improves predictions with new data
- Confidence Levels: Users can adjust forecasts in real time by selecting the optimal confidence level based on the organisation’s strategy and risk profile
- Business Intelligence: Users can view data in dashboards available as standard with flexible filters, adjustable forecast periods, cash budget calculations, and more
“As interest rates continue to rise, an imprecise forecast translates to underinvested cash and inefficient borrowing. Since the opportunity cost of cash is also increasing, CFOs are demanding greater confidence in their cash forecasts to optimize enterprise liquidity,” said Bob Stark, Global Head of Market Strategy at Kyriba.
For more information, read the fact sheet here.
About Kyriba Corp.:
Kyriba empowers CFOs and their teams to transform the way they activate liquidity as a real-time, dynamic vehicle to grow and create business value, while protecting against financial risk.
With 2,500 customers worldwide, 20% of which are Fortune 500 companies, and 25 million payments processed daily, Kyriba’s platform connects internal treasury, risk, payment and working capital applications to vital external sources such as banks, ERPs, trading platforms and market data providers. Based on a secure and scalable SaaS platform that uses artificial intelligence, Kyriba enables thousands of businesses around the world to maximise growth opportunities, protect against losses from fraud and financial risk, and reduce costs through advanced automation.
Kyriba is headquartered in San Diego, with offices globally. For more information, visit www.kyriba.com.
1 A New Practice Area Emerges for CFOs: Enterprisewide Liquidity Management, IDC