Kyriba Signs Kuwait Food Company as Demand Surges for Enhanced Cash Visibility in the Middle East
Senior finance leaders adopt Kyriba’s modern treasury and financial solutions to improve their working capital
DUBAI, November 21, 2017 – Kyriba, the #1 global provider of cloud treasury and financial management solutions, today announced that Kuwait Food Company (Americana) (S.A.K.) (“Kuwait Food Company”) has joined a rapidly growing number of clients in the Middle East that have signed with Kyriba Middle East FZ-LLC, a joint venture with U.S.-based Kyriba Corp., to modernize their treasury management operations.
“At Americana we are constantly driving towards having better efficiencies and improvements in order to make sure that they we are well equipped for the ever changing market requirements. Our continuous improvement approach in everything that we do, is why we have partnered with Kyriba, to manage our treasury more efficiently and make sure that we are on par with best global standards,” said Ashish Krishna, manager of corporate treasury at the Americana – Kuwait Food Company. “Implementing a modern treasury solution will give us a more accurate and real-time visibility into our cash resources so we can better plan and provide strategic guidance to fund new growth.”
Oil price volatility is driving senior financial leaders to adopt new technology solutions and gain enhanced decision support solutions. Also, the Saudi Vision 2030 initiative, aiming to propel diversification in the regional economy, has inspired executives to think differently about leveraging innovation in finance technology to drive new growth.
Kyriba announced its rapid growth in the Middle East at the ACT Middle East Annual Summit on 21-22 November in Dubai. In addition to Kuwait Food Company, more than 20 leading corporates in the region are currently using Kyriba to enhance cash visibility and provide decision support to reduce borrowing costs, increase investment returns, and unlock working capital.
“Now in its eighth year, the Summit offers treasurers an unrivalled opportunity to come together to debate the key issues facing treasury and business,” said Peter Matza, Speakers’ Chair at Association of Corporate Treasurers. “Kyriba, a key player in unlocking value for treasury and finance professionals in the Middle East, will be supporting our exciting panel discussion on how corporates can adapt, innovate and excel as the exclusive technology sponsor for the event.”
Kyriba will also be demonstrating its cloud platform and meeting with senior financial leaders at the 2017 ACT Middle East Annual Summit. Attendees can register for a product demonstration to learn how Kyriba can add cash visibility and forecasting to their operation.
“The ACT conference also offers scope to find the best solution with discussions on payments, trade finance, treasury systems and dynamic FX management all delivered by experienced treasurers and market experts,” said Peter Matza.
“The rate and scale of business growth now demands technology solutions to enable faster, more secure decision support,” said Roger Baroutjian, managing director of Kyriba Middle East FZ-LLC and executive managing director of Kyriba’s joint venture partner, Surety Computer Systems LLC. “Kyriba provides critical cash management solutions and supply chain finance that directly impacts working capital targets.”
About Kyriba Corp.
Kyriba is the #1 provider of cloud treasury and financial management solutions. Kyriba empowers financial leaders and their teams with award-winning solutions for cash and risk management, payments and supply chain finance. Kyriba delivers a highly secure, 100% SaaS platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. More than 1,800 companies, including many of the world’s largest organizations, rely on Kyriba to streamline key processes, protect against loss from fraud and cybercrime, and accelerate growth opportunities through improved decision support. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
About Americana Group
Americana Group is the leading and most successful restaurant, food processing, distribution, and retail company in the Middle East. Over the last 53 years, Americana Group has been an innovative pioneer in the food industry operating world – leading brands like KFC, Pizza Hut, and Hardee’s, Krispy Kreme, Americana Meat, California Garden and many others. With an international network that spreads across 22 countries, Americana employs more than 66,000 people and owns more than 1800 restaurants throughout the Middle East. Americana accepts its social responsibility by supporting environmental protection, food conservation and education.
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Daniel Shaffer, [email protected], +1 (858)263-2218