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Artificial intelligence and machine learning (AI/ML) have gradually worked their way into everyday life in treasury and finance, but we’ve only scratched the surface of their potential. This eBook explores the use cases for...

Artificial intelligence and machine learning (AI/ML) have gradually worked their way into everyday life in treasury and finance, but we’ve only scratched the surface of their potential. This eBook explores the use cases for AI/ML within treasury and 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. But while some organizations are currently using these technologies, we’ve only scratched the surface of their potential. AI/ML Today 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/ML to Finance & Treasury 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. 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. ML 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 forecasts with AI/ML-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 can already be used fluently for short-term cash forecasting. ChatGPT and Generative AI 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. And many companies have stockpiled their cash reserves throughout the pandemic — now is the time to begin spending some of that cash. Treasury teams would be wise to look for a trusted partner as they explore AI/MLbased offerings. 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/ML, 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 AI in action for 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. 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 Treasury management is critical to a company’s success. Advantages of a Treasury Management System Treasury management systems are software applications that automate 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 management system also provides real-time reporting of financial data. It allows you to create customizable reports to meet your specific needs. Why Do You Need a Treasury Management System? A treasury management solution 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. A good treasury management system will also 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. How a Treasury Management System Works A treasury system is a comprehensive solution that automates and streamlines the financial processes of a business. It 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. 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 a 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 Treasury Management Capabilities 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 management systems 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.

Advanced treasury management and data-delivery capabilities enable finance organizations to see their global cash, liquidity, and risk exposures and create value for the business. Recent disruptions, such as the pandemic and current inflationary conditions,...

Advanced treasury management and data-delivery capabilities enable finance organizations to see their global cash, liquidity, and risk exposures and create value for the business. Recent disruptions, such as the pandemic and current inflationary conditions, have thrust treasury management into the spotlight. With rising interest rates and a strengthening US dollar, many finance organizations are turning to their treasury departments to proactively mitigate currency impacts upon foreign earnings and to enhance the use of internal liquidity over capital markets. Some are also looking to reduce costs in response to inflation. These factors are putting pressure on treasury departments to elevate their operating models and to digitally transform their capabilities around financial risk, balance sheets, working capital, and payments while simultaneously reducing costs. Some organizations are responding to these pressures by accelerating their digital transformation agendas and moving core capabilities into the cloud. They are also seeking to use internal and external data more extensively by enhancing their analytical capabilities. One way to accomplish these objectives is to combine a leading, cloud-based financial system, such as Workday Financial Management, with the enhanced treasury management capabilities of a cloud-based, supplemental system, such as Kyriba. Eight potential ways to achieve ROI Greater process efficiency via treasury automation and standardized reports. Timely and accurate cash visibility. Reduced banking fees and transaction costs. More effective hedging programs to manage FX and IR risk. Enhanced liquidity management and funding opportunities. Decreased IT support and required maintenance. Improved operations and fraud detection. Greater agility and enhanced business continuity via global SaaS platforms. Treasury as a value lever Supplemental treasury management systems (TMS) generally offer in-depth functionality across treasury management and accounting, bank connectivity and payments, control and compliance, risk management, and supply chain finance. Accordingly, the business case for implementing a supplemental TMS can be compelling, especially for companies that need to perform complex intercompany lending, hedging, risk valuation, foreign exchange, and other intricate financial operations. However, modernizing the treasury management function requires a combination of capabilities, including industry-specific knowledge of leading practices; functional specialties such as strategy and operations, risk management, financial advisory, tax, and cyber security; and highly experienced professionals with technical skills across the various ERP ecosystems such as Workday and Kyriba. Deloitte not only offers these diverse capabilities but also integrates them efficiently. Deloitte is also a recognized market leader in finance transformation; it has achieved the highest quality rating on Workday implementation scorecards and it is Kyriba’s only enterprise-certified alliance relationship, having received implementerof-the-year awards for the last three consecutive years. With these qualifications, Deloitte is well-positioned to help you combine a cloud-based financial management system with a supplemental TMS. This can open up many opportunities for cashmanagement cost savings and improved treasury function performance. Cloud-based solutions to enhance visibility and management of cash, liquidity, and risk exposures Leverage Deloitte’s extensive finance transformation experience, knowledge of leading practices, and familiarity with the financial management and treasury management capabilities found in leading platforms such as Kyriba and Workday. Tailored for treasury optimization As detailed in Table 1, finance leaders have the ability to alleviate many common ERP treasury-management pain points by tapping Deloitte’s extensive finance transformation experience, knowledge of leading practices, and familiarity with the financial management and treasury management capabilities found in leading platforms such as Kyriba and Workday. How can we help Deloitte can assist you in taking the next steps to modernize your treasury management capabilities by guiding you through an initial scoping session to determine a personalized path forward. During this session, we can apply our technical acumen, treasury knowledge, and finance transformation experience to help you: Assess the current state. Develop a digital finance strategy based on combining leading cloud-based systems. Identify finance transformation opportunities and create a roadmap for realizing them. Design the solution and develop an implementation plan according to leading practices. System integration and implementation support for your selected solution. Ultimately, through proprietary accelerators and pre-defined data integrations, we can help you streamline your TMS implementation, delivering it simultaneously with a cloud-based financial management implementation, or after it is complete. Time to get strategic? Treasury-management trends triggered by digital disruption several years ago have only intensified under recent economic conditions. The role of the treasury function continues to grow as a value-add partner of the CFO and a strategic advisor to the business—all while core treasury goals and mandates, such as liquidity risk management and being a steward for financial risk management, have become even more important in a world of volatile markets, tight supply chains, and rising interest rates. Could it be time for your organization to get strategic about liquidity management with a cloud-based financial management system and a supplemental TMS? To find out, contact us.   This document contains general information only and Deloitte is not, by means of this document, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This document is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this document. Product names mentioned in this document are the trademarks or registered trademarks of their respective owners and are mentioned for identification purposes only. Deloitte is not responsible for the functionality or technology related to the vendors or other systems or technologies as defined in this document. As used in this document, ‘Deloitte’ means Deloitte & Touche LLP, which provides audit, assurance, and risk and financial advisory services and Deloitte Consulting LLP, which provides strategy, operations, technology, systems, outsourcing and human capital consulting services. These entities are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2023 Deloitte Development LLC. All rights reserved.   Want to learn more? Check out this webinar to hear how Deloitte helped Exelon and Constellation Energy modernize their Treasury organization through a Kyriba implementation.

Nearly every company doing business beyond its own borders faces the challenge of cost-effectively managing currency risk, and each year corporations incur billions of dollars in currencyrelated losses due to global currency volatility. Even...

Nearly every company doing business beyond its own borders faces the challenge of cost-effectively managing currency risk, and each year corporations incur billions of dollars in currencyrelated losses due to global currency volatility. Even small organizations with modest international operations can be impacted by currency exposures if treasury fails to effectively manage foreign exchange (FX). In this eBook you will be introduced to three common manual foreign exchange profiles and examine anonymous case studies of how a company from each profile type was able to gain greater insight into currency data and exposure, improve workflows, increase overall efficiencies and withstand currency headwinds — all by modernizing and automating their FX processes. In many cases, these losses are attributable to manual, spreadsheet-based currency risk management programs and processes, which are vulnerable to human error and faulty hedging strategies — strategies that hinge on inadequate or incomplete data. Ongoing FX volatility, lack of access to accurate and timely data, and real time responsiveness to exposure and market risk changes put demands on organizations to embrace fully-automated FX risk programs. Regardless of the sophistication or complexity of an organization, every corporation can benefit from automated FX risk management. This is true even for larger or more sophisticated companies already utilizing general treasury software or trading platforms. In fact, the automating FX risk management can enhance the value of a trading platform, ERP(s) and other technologies. What Does Automating FX Mean? Automation involves modernizing procedures by systematizing each step of a process, eliminating the need for manual intervention along the way. Within an FX risk management program, this may include automating processes for the data collection exposure consolidation, calculation and analysis, as well as hedge recommendation. Automation also involves seamlessly integrating multiple systems, including ERPs, trading platforms and market data providers to ensure exposures are aggregated easily and automatically with the latest technology, like APIs. At Kyrbia, we advise corporations to consider three types of FX automation when looking to enhance their FX risk management programs Data Transfer Automation to optimize the datagathering portion of FX risk management, which ensures human “touchpoints” are minimized and the potential for error is reduced. Workflow Automation to identify and establish exposure benchmarks across the enterprise, ensuring consistency and eliminating currency surprises. Process Automation to intoduce complete, end-toend modernization to ensure errors are mitigated, efficiencies are maximized and risk is eliminated. The Benefits of Automating FX Although automating FX may sound intimidating, by working with the right technology and fintech provider, it can often be completed easily and quickly with quick-strike benefits. Automation eliminates the need for manual intervention, reducing the potential for costly human errors. Diminishing the need for manual involvement frees treasury professionals from having to gather data from multiple sources, giving them more time to analyze information, track exposure trends and proactively seek out other opportunities to eliminate risk. Automation transforms how treasury professionals are perceived within an organization, allowing them to be seen as resources in strategic planning. By automating FX, organizations also gain: Improved efficiency Significant time savings Increased FX controls Greater insights into FX exposures Reduced currency impacts to earnings Optimized FX risk management costs Managed impacts from FX risk Leveraging technology allows organizations to perform risk analytics on command, becoming less dependent on financial institutions or outsourced service providers. This provides the most flexibility, visibility, and control over an FX program while not losing time on external dependencies. By dividing the automation of foreign exchange management into three distinct profiles, we can better examine where companies stand with their current FX programs and determine what steps they need to take to achievefull automation. These three profiles are broken out by companies looking to expedite processes, create flexible & adaptable workflows, and enrich data intelligence to optimize FX risk management programs. Expedite: The “expedite” category describes corporations that are interested in incrementally improving their existing FX management programs through efficient data processing. Generally, companies that fit this profile type rely on manual processes that are vulnerable to errors. The CFO may be interested in transitioning away from a spreadsheet-reliant program and looking to automate data aggregation and facilitate in-depth exposure analyses. Adapt: Global organizations have dynamically changing exposure & risk profiles within a continuously changing foreign currency market. Organic growth, acquisitions, and restructurings can leave hedge programs frequently chasing down issues if the FX risk management program is not designed to quickly “adapt” to evolving conditions. When it comes to FX, chasing down issues ultimately puts the organization at higher risk of ineffective risk mitigation decision and negative P&L impacts. Enrich: The “enrich” category describes highly-complex organizations seeking to take advantage of efficient processes by shifting efforts to more strategic analysis. Companies in this category have optimized the blocking and tackling of operating an FX risk management program, and are now ready to leverage automation to improve data inputs and risk forecast assumptions. Hedge programs will maximize effectiveness the more hedge decisions accurately align with actual business activity. Editor’s Note Companies in each one of these profile types have distinctly different challenges and operate at varying levels of sophistication, but they all share a common trait: the need to automate their FX programs. Three Corporate Profiles, Three Automation Success Stories Every corporate environment offers unique challenges, and the following anonymous case studies illustrate how automated workflows can enhance a company’s FX program — regardless of the inherent complexities. The specifics for each company in this eBook vary— some used FX trading platforms or had previouslyestablished in-house banks. Regardless of the specifics, after modernizing their programs, each organization saw nearimmediate quantifiable results, including improved operational efficiencies, time savings, reduced expenses and reductions in currency-related risks. 1. Expedite: A $6 Billion Global Electronics Manufacturer Why They Automated The company relied on a manual, forecast-based, legacy balance sheet FX program requiring treasury specialists to gather spreadsheets every month from 30 entities around the globe. They consolidated the forecasts, uploading and executing the appropriate trades manually. This process took four days in total (two days for data consolidation; two for currency hedging), requiring additional steps, touchpoints and manual calculations along the way – all of which amplified the potential for human error. Solution The company looked for a solution to help them design an automated program. Kyriba’s Balance Sheet FX solution offered the cutting-edge SaaS technology and back-end support needed to complement their existing forecasting processes. With Kyriba, their new FX solution enabled a streamlined data aggregation process and initial exposure analysis. This, in turn, supported the development of an end-to-end, automated workflow, which helped the FX team improve their analysis and adjustment process. The team aggregated data for all entities at a corporate level and then executed trades and hedge accounting with a seamless integrated trade execution portal. By using Kyriba for FX risk management, treasury could select what to trade and the trades would immediately be processed. This eliminated unnecessary steps while adding more rigid controls, reducing the likelihood of human error causing something to go wrong during the trade process. The time savings and assurances that processing errors are reduced allow the company to spend more energy on strategic analysis. Outcome Kyriba significantly improved the data aggregation and exposure calculation processes, but seeing the trend analytics and having the ability to compare datasets in the system were also vital. With their new FX risk management solution, treasurers could quickly break down exposures – by entity –and identify what drove the changes while drilling into specific accounts. This was a monumental change compared to their manual processes which did not allow for this advanced degree of reporting; nor did it offer the granular details they needed. Automation saved time and reduced the potential for error. With the click of a button, trades were moved from one system to the next. Treasury no longer needed to open different files, copy, paste and upload separately. This saved significant transaction time, which amounted to many hours saved each month due to the frequency of trades. Additional Benefits The modernized process gave the FX team more time to analyze data and identify trends. Better still, the entire process could be completed in less than a day compared to the manual process, which took about four days to complete. FX professionals could make daily adjustments in exposures, enabling them to immediately identify if – and where – the forecast was off and how to best align currency hedges. The treasury team could also lower the exposure hedge threshold while expanding the number of currency pairs tracked and traded. This helped improve the data collection to hedge execution process by 60 percent. The treasury team lowered corporate hedge thresholds to less than $200,000. 2. Adapt: A $15 Billion Consumer Goods Company Why They Automated With most of the treasury department’s efforts spent manually collecting error-prone data, company decision-makers realized they needed to upgrade their treasury infrastructure. Gathering balance sheet data alone required tapping into 38 different systems in a legacy ERP environment. This antiquated process limited opportunities for the team to focus on data analysis and risk mitigation. These issues were compounded because the company was acquiring another, smaller company at the same time. Executives tasked the FX team from the smaller company – which was already resource-challenged – with managing the postacquisition currency program. The post-acquisition balance sheet program was only hedging one-off intercompany loans and FX trades were executed over the phone. Rolling and settling hedges required constant manual intervention. Additionally, FX hedges in spreadsheets (managed by multiple employees) were an ongoing headache because the cost of wrong-way trades or over/under hedging was high. Cohesive, end-to-end automation was needed to improve efficiencies. Solution Executives recognized the need for an automated program, eliminating the risk of manual errors. The company introduced a customized backbone treasury infrastructure that drew on best practices and offered various treasury technology solutions, including a currency analytics solution, a TMS and a trading platform. For its balance sheet program, the entire hedging process was automated – including weekly collections of exposure data from local business units, ERP systems, spreadsheet uploads and user inputs. Once balances were collected, the team analyzed exposures to determine the external hedging needs. These were executed using an automated trading platform and housed in the new treasury workstation. Kyriba was chosen not only as their TMS, but the company chose its Balance Sheet FX solution to be used as a centralized FX risk center, facilitating automated data collection, exposure calculations and hedge recommendations through technology-enabled automation with the ERP systems, Kyriba TMS and trade executive portal. Within Balance Sheet FX, the team had visibility into individual entities and profit center details. Data was sourced from 38 legacy ERP systems via a weekly template (from 25 local business units) and SAP automatically pushed the data to Kyriba. Outstanding hedges were automatically transferred and uploaded to display net exposure. Kyriba then created recommended hedge actions based on the corporate policy and generated trades netted at the corporate level for all exposure balances. Trades were sent (via direct automation) for execution. Confirms were sent back to Kyriba for automated entity-hedge allocation and reconciliation.When the companies acquisition closed, Kyriba provided a strong FX risk management framework that made it easy to integrate the new entities. Rather than taking months to work with new entities to gather exposure data and educate new employees, the company could quickly guide entities in how to adopt FX processes and follow policies. Outcome By automating, the company revented its treasury infrastructure from the ground up. The transformation took place at the same time the small treasury team managed its day-to-day responsibilities – while the company executed six acquisitions and four divestitures. Additional Benefits The new workflow significantly reduced cumulative FX transaction net losses from$88 million to less than $2 million. The notional size of the balance sheet hedging program increased from $800 million to $2 billion. Hedge accounting documentation now saves the company $120,000 per year thanks to consolidating technology platforms. Trading fees have been reduced by more than $1.3 million in 12 months. 3. Enrich: An $8 Billion Specialty Food Company Why They Automated The company originally relied on a non-formalized, manual cash flow exposure forecasting process – one that was completed ad hoc, using numerous spreadsheets and a variety of touchpoints. Data collection was inconsistent, calculations were completed manually and the potential for error was high. Across the business and reporting structures, many currency pairings were complex and represented significant risk. Reviewing spreadsheets and formulas for each forecast period was resource-intensive, requiring the treasury team to manually review each submission. Additionally, comprehensive management reporting was limited, despite the amount of time devoted to the task. Solution Prior to evaluating FX technology to address their needs, the company conducted an inventory of necessary data required to support a more formalized process and quarterly hedging cycle. The goal was to ensure – when an opportunity to hedge was identified, or the business required a hedge – the team had all the necessary data to act quickly. Once the inventory was finalized, they sought out technology that would further enhance their workflow. The company’s cash flow forecasts were integrated with Kyriba’s Balance Sheet FX reporting reflecting existing hedges, creating an initial view of net exposure by entity. After reviewing the exposure and making desired adjustments and edits, the team executed a decision process in Kyriba to recommend hedges at an entity level (applying the company’s policy-defined threshold, target ratios and level of materiality, creating a report that allocates decisions by entity, currency pair and account group). Kyriba then created trade recommendations for the company’s in-house bank, including internal and external trades, displayed within the application for review. Once recommended trades were approved, the system generated a report of external trades which are sent automatically to an integrated trade execution portal. Kyriba then received the trade confirms, allocating them back to individual entities. Outcome The new workflow empowered the company to standardize a process with currency pairs, exposure types, geographical details and entity information. With corporate-mandated standardization in place, the implementation facilitated improved reporting with complete flexibility supporting individual user-defined views. This proved to be a significant time-saver, enabling the treasury team to focus on analyzing the accuracy of the forecasts, which helped eliminate nearly all calculation errors. Additional Benefits The ability to segregate and analyze specific data sets significantly reduces the time spent on reporting. Previously, it took at least three days (per quarter) to complete; now the process takes less than six hours (including collecting and uploading data and completing board presentations). The company has seen a 50 percent increase in participation in the forecasting process. Realized increased flexibility in the reporting. The company’s new workflow offers more details on all proposed actions. The increased collaboration and visibility allowed the team to add four new entity currency pair combinations to its existing hedge program. There has also been a 50 percent improvement in corporate target hedge ratios. Conclusion Before automating, each company profiled had the potential to endure significant losses (due to human error and faulty, incomplete data). After automating, each organization – regardless of its size and complexity – saw near-immediate benefits. Most importantly, each experienced a reduction in FX-related losses, managed impact from volatility and a substantial decrease in unmanaged FX currency risk. Kyriba is committed to helping organizations improve the impact currency exposure has on corporate financial results by offering best-in-class technology and services. With Kyriba, organizations can reduce risk, reduce costs and streamline processes. Kyriba facilitates end-to-end automation, which includes direct ERP data extraction and aggregation, forecast consolidation, exposure and risk analysis generation and automated risk transfer and trade execution connectivity to banking portals and trading platforms using state-of-the-art, highly-secure SaaS solutions. If your organization is dependent on a sluggish, error-prone manual FX program, you should know adopting an end-to-end, fully-automated currency risk management program can help you achieve the kind of benefits detailed in this eBook. Kyriba has helped leading multinationals and small and mid-size companies with FX exposure, to successfully transition from manual FX programs to modernized, cost-effective programs. Fully automating a FX risk management program – which entails modernizing data collection, exposure consolidation, calculation and analysis, as well as hedging recommendations – ensures an organization is operating in step with current FX best practices. Learn how to employ best-practice automation and advanced FX analytics by reaching out to [email protected]

Silicon Valley Bank’s collapse is a warning for CFOs and finance leaders who are not able to offer immediate, real-time questions on impacts to their balance sheets, income statements and cash flow. View Recording

Silicon Valley Bank’s collapse is a warning for CFOs and finance leaders who are not able to offer immediate, real-time questions on impacts to their balance sheets, income statements and cash flow. View Recording

Kyriba’s Liquidity Analytics is part of the comprehensive SaaS-based Kyriba Analytics reporting platform giving CFOs and treasury the ability to identify enterprise-wide, integrated cash, coupled with debt and investment data presented with superior visualization...

Kyriba’s Liquidity Analytics is part of the comprehensive SaaS-based Kyriba Analytics reporting platform giving CFOs and treasury the ability to identify enterprise-wide, integrated cash, coupled with debt and investment data presented with superior visualization and analysis. Liquidity management across the organization becomes more strategic, insightful and faster with the latest Kyriba Analytics offering: Analyzing the Net Financial Position To gain a comprehensive understanding of the financial position of a company, it is essential to analyze the variation of net debt over time. This analysis can provide insights into how the company’s liquidity has changed over a given period and whether these changes are a cause for concern. The examination of intercompany loans across subsidiaries as part of the net debt allows analyzing the role of in-house liquidity for the group. The breakdown by currency increases visibility into the associated forex exposures prior to hedging. To counter the delays in reporting typically experienced from non-integrated, spreadsheet-based tools, Kyriba’s solution brings the treasury data and financial transaction records together intraday to calculate the net debt position. By using these resources, Liquidity Analytics offers a current picture of the organization’s financial standing, enabling the CFO to make informed decisions and take appropriate actions to manage and mitigate financial risks. Building a Solid Financial Plan Liquidity Analytics allows optimized financing from the planned evolution of working capital and capital expenses. The ability to forecast the company’s funding requirements in relation to its financial resources increases the effectiveness of planning and managing the financial operations of the company. In an economic climate that is fraught with uncertainty, it is imperative for the CFO to make contingency plans that account for various business scenarios, both those that anticipate growth and those that defend against downturns. Liquidity Analytics enables stress testing of cash inflows and outflows, thus validating the strength of the financial plan against the pressure of a volatile market. By utilizing this tool, the CFO can ensure that the company’s financial plan is resilient and can withstand a variety of potential economic scenarios. Controlling Liquidity Liquidity ratios play a crucial role in determining a company’s credit rating and subsequently its cost of debt. Liquidity Analytics provides both historical variations in liquidity and its future evolution anticipated from financial planning. This analysis encompasses not only cash and cash equivalents, but also committed credit facilities. The tool can also aid in mitigating credit risk by exercising control over the allocation of the liquidity portfolio across banks, thereby avoiding any potential concentration of funds. By ensuring that the liquidity portfolio is diversified and not concentrated in a single institution, the solution helps reduce the risk of over-reliance on any one bank, thus contributing to the financial stability of the company. Analyzing the Structure of Your Debt Portfolio Analyzing and optimizing your debt portfolio over time is crucial in order to minimize interest expenses. Liquidity Analytics expands the CFO’s effectiveness in calculating and forecasting the exposure to interest rates volatility. Future interest rate what-if combined with liquidity stress test provides an estimate of the cost of the financial plan by scenario. This analysis helps the CFO make informed decisions regarding the company’s financial operations and ensure the cost of the debt is minimized in the long term. Kyriba Analytics Reporting Platform for CFOs and Treasurers Liquidity Analytics What is my net debt and my liquidity? How and when best to pay down my debt? How many “days of survival” do I have? Cash Analytics Do I have enough cash? Are my cash forecasts reliable? What is my activity with banks? Payments Analytics Where is my biggest concentration of payments? Are we sending too many wires? Which users execute payments and who approves them?   Risk Analytics How much is available on my credit lines? What is my borrowing profile? What is the value of my financial assets? SCF Analytics What is my supplier participation rate? How many documents have been uploaded? Which invoices are financed? Compliance Analytics Who are the users and where are they located? Which modules can they access with which rights? What data can they access?

Securely access core treasury workflows anytime, anywhere Complimentary for Kyriba clients, the Kyriba Mobile application extends core treasury and payments management functionality from desktops to mobile devices, empowering CFOs and treasurers to make informed,...

Securely access core treasury workflows anytime, anywhere Complimentary for Kyriba clients, the Kyriba Mobile application extends core treasury and payments management functionality from desktops to mobile devices, empowering CFOs and treasurers to make informed, time-sensitive financial decisions at their convenience. With Kyriba Mobile you can check balances and approve payments on the go. The app enhances the productivity of CFOs and treasurers with a range of functionality, including: Validation and approval of payments On-demand dashboards Automated cash position reporting Task management Real-time, Secure Payment Approval and Signature Kyriba Mobile provides access to real-time, secure payment information with the same approval process as the desktop application. With Kyriba Mobile, you can: Activate push notifications on your mobile device and get notified immediately when pending payment approvals are ready Filter your payments, for example only view payments with attachments Swipe to validate and approve single and multiple payments Sign payments digitally with dual-factor controls View fraud alerts with details, including: Transaction amount and status Beneficiary names, bank account details and BIC Issuer names and last action user Issuer bank, account details and BIC Stay Informed with Kyriba Analytics Kyriba Mobile offers the same Kyriba Analytics experience as the desktop version, delivering integrated and pre-built analytics for Kyriba Cash, Liquidity, Treasury, Risk, Compliance and Supply Chain Finance modules and data. Kyriba Mobile users can: Drill down into visuals and tables Navigate public and private views Access selection, bookmarks and insights Use natural language to find insights Personalize metrics into your data Seamless Integration: Dashboard, Online Reporting and Task Monitor With Kyriba Mobile, you can access all Kyriba reporting dashboards and run any report from any library: With a single click, access Kyriba Mobile’s Reporting dashboard menu to view the same graphics as Kyriba’s Home and Dashboard pages Search and highlight report content for a more productive mobile user experience Manage and share tasks with Kyriba’s own taskbar (the “Task Monitor”) View color-coded status updates to easily see if tasks have successfully completed or need further attention Mobile Access Security Securely connect and login to Kyriba Mobile with: Kyriba user ID and password Dual factor authentication (SMS, TOTP, Yubikey) Single sign-on (SSO) via all major providers (Okta, ADFS) Biometrics (FaceID, finger touch ID) Supported Devices The latest version of Kyriba Mobile is supported on the following devices in both English and French: iPhone® iPad® Android™ Kyriba Mobile’s easy-to-use features garner high ratings in the major app stores: Google Play: 5.0 out of 5.0 ***** Apple App Store: 5.0 out of 5.0 *****

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 CFO 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 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 for the CFO 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. Measuring Liquidity Levers and Impact 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 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 Supporting Liquidity Planning New, completely modernized SaaS solutions create confidence for the CFO and finance by extending forecasting horizons and supporting data-driven liquidity decisions. Treasury and finance can now make more accurate decisions weeks, months and years into the future. Liquidity Planning supports cash forecasting and – when combined with Liquidity Analytics – also support liquidity planning practices. Key Features of Liquidity Planning include: 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. 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 Solutions helps treasurers find the right balance and optimal mix across varied sources of liquidity to meet obligations while keeping costs at the right level. Liquidity Planning’s 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. 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. Liquidity Planning makes 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 refer to the money that is transferred between businesses in exchange for products and/or services. Usually such payments come with an invoice or a pre-signed contract. What Are Some...

Corporate payments or B2B payments refer to the money that is transferred between businesses in exchange for products and/or services. Usually such payments come with an invoice or a pre-signed contract. What Are Some Common Types of Corporate Payments? Corporate payments usually include the following types: Treasury payments: loans, debts, investments Supplier payments or Account Payable (AP) payments: payments a company makes to a supplier for purchased goods or services Tax payments: payments to tax authorities to fulfill the legal taxation obligations Salary payments: the amount a company pays on agreed terms to its employees in exchange for job performance Methods of Payment Transfer Corporate payments, or payments between businesses 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 payment 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 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 corporate payments process (including claims and accounts payable) is considered as a business-critical process. However payment processing remains inefficient in many companies, often due to the following reasons: Siloed and obsolete home-grown back-office systems A lack of end-to-end process automation Legacy connectivity to banks Decentralized payment processing teams 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 corporate payments 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 Cost of Erroneous Payments 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: 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 a Corporate Payment System A payment hub, also known as a payment platform or a payment system, 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 payments. A cloud-based payment hub such as Kyriba’s also 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. 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.

Open banking is a banking practice that gives consumers full control over their own banking or financial data so that they can decide whether any third-party financial service providers can access the data to...

Open banking is a banking practice that gives consumers full control over their own banking or financial data so that they can decide whether any third-party financial service providers can access the data to provide them with better products and services. That’s why it is also known as "open bank data”. Open banking is enabled by the use of APIs. In Europe, the legislation of PSD2 (Payment Service Providers Directive) has been a main driving force behind making open banking a reality for every consumer. Open banking has also become a hot topic for corporate treasurers because many of the Open banking use cases and their associated benefits are applicable in the business context too, especially when it comes to system integration and real-time data accessibility. What Are the Main Purposes of Open Banking? Open banking is a step forward in the future digitalization of financial services. When people ask why open banking, consider the following two main areas open banking will drive positive changes: Open innovation. Banks have always been like walled gardens. If you have two bank accounts at two different banks, most likely you have to log into two banking apps to manage your money. It is so for security reasons, but it also creates inefficiency. Now with consumer’s consent, Fintech startups can gain access to consumer data at any bank through Open API. This has boosted innovation in the financial services industry. Service customization or personalization. When consumers are no longer tied up with one bank’s own designed products and services but a whole ecosystem of apps, there is a lot of space for customization or personalization. For example, when you give your consent, third-party apps can use your banking data to offer products and services that are tailored to your financial situations. Is Open Banking Secure? It is unsettling for many people when they hear that their banking data will be shared. This is a well justified concern. There is always some associated risk when data is handled online. However, open banking security has been deeply designed into the processes and legislators in different countries are watching this space closely. For example in Europe consumers have improved security with PSD2’s implementation of Strong Consumer Authentication (SCA). Two things are important to keep in mind for open banking data sharing. First, without your consent, your banking data cannot be shared by your bank or any third party service provider. Afterwards, you also have the right to ‘unsubscribe’ any time from the data sharing. Second, even with your consent, you will not share any credentials such as log-in username or passwords. The data to be shared usually are things like type of the account, name of the account, transaction history, or balance details. What Are the Benefits of Open Banking? For consumers, the main benefits of open banking are: Full control of their own financial data Enhanced banking experience across different financial services Reduced costs with much lower switching costs Quick access to the latest and greatest Fintech innovations For corporate treasury, the main benefits of open banking are: KYC process can be streamlined with the introduction of APIs Quick access to and adoption of the latest and greatest Fintech innovations that are targeted at corporate financial challenges Real-time treasury becomes possible with the proliferation of faster payments, instant settlement, and real-time availability of balance and transaction data Use Cases of Open Banking for Corporate Treasury The following open banking use cases are often discussed in different treasury forums and can be a good starting point for corporate treasurers to consider: Real-time cash visibility: API connectivity aggregates in real time the cash position into any system of your choice–for example, it can be your TMS system or your ERP system–to make available figures from all bank accounts into one centralized view for unprecedented instant cash visibility. In practice, this means that the time and effort of logging into multiple banking portals or systems to download and consolidate the bank statements and transaction data can be saved. This also means that the cut-off time for intraday statements will no longer be the bottleneck of data reconciliation, as data arrives at your system of choice instantly. Inbound and outbound payments: API-based real-time payments can bring tangible benefits to corporate cash management because it transforms the current payment processes both in terms of speed and tracking of both inbound and outbound payments. Treasurers choosing to adopt the new world of instant payments have already seen concrete business outcomes. For example, Kyriba client Hunt Companies gained both cost saving and efficiency by being an early adopter of ACH’s RTP® network in the USA, reducing its bank fees from $6 on average for a wire transfer to less than $1 for RTP. Data aggregation for real-time decision making: Data is the real link behind various processes within an organization and poses opportunities to form cross-functional business optimization. For example, traditional FTP connectivity between TMS and enterprise resource planning (ERP) systems is being replaced by API for data exchange (e.g. Kyriba provides API-based ERP connectors for SAP, Oracle, D365 and Netsuite). Accurate real-time data enables better decision-making, including timely analysis and forecasts, and mitigation of financial risks. On top of that, when data becomes available in real-time, there is a new opportunity to apply other technological enablers to use the data to achieve new levels of cash and liquidity management. The use of artificial intelligence (AI) for example to automate cash flow forecasting has been gaining its ground among corporate treasurers. The possibilities with APIs are infinite. Check out more use cases enabled by Kyriba’s Open API platform and see how they can support your organization to bring your treasury, cash, payments and working capital to the next level. Challenges with Open Banking for Corporates Despite the promising future of open banking for both consumers and businesses, there are still a few challenges that remain: Lack of standardization: APIs are a new addition to the bank connectivity, and each bank has their own way of defining how they transfer data. A universal standard does not exist, which means each time you connect to a bank API, it becomes a project of its own. New technology meets old technology: Technology evolves rapidly year to year. Both banks and corporates grow their IT infrastructure over the years with numerous hardware and software additions and upgrades and system migration and updates. When a new tech stack meets the old, things do not work automatically. The idea of using APIs to connect systems for real-time data transfer is great but in reality, the task to make it happen is not to be underestimated. Balance of openness, security and data privacy: Concerns over data privacy, security and compliance have grown among legislators, regulators, companies as well as ordinary citizens. Actions are being taken in different parts of the world to ensure a balance between open innovation and data security. For example, in Europe, the General Data Protection Regulation (GDPR) has been published since 2016 to protect against data breaches. How to Use Connectivity-as-a-Service There are many ways to start benefiting from open banking. One good place to start is to look at the current and future needs of connectivity for your treasury operations. No matter what you want to do with open banking, it always starts with the connectivity, whether it is connecting to different banks’ APIs, integrating the products and services from Fintechs, or building data pipelines with strategic business partners for your own data lake. Due to the importance of APIs for open banking, it is recommended to discuss the API roadmap with your banking partners or system providers to ensure that you have enough visibility into the capabilities they will provide to meet your future business and growth needs. Choosing a technology provider and adopting Connectivity-as-a-Service is a good start for your open banking initiatives. When to Adopt Open Banking in Treasury Many companies and treasury teams with limited IT resources are still on the lookout for options to adopt the open banking technology. Due to the nature of the APIs provided by banks and financial institutes, both the number and the specifications are constantly growing and changing, posing challenges to find actual business cases or the IT resources to take them into use. However, it is important to bear in mind that existing connectivities to your banks, such as SWIFT, EBICS, and H2H, are complementary to APIs so that all data that is not yet made available via APIs can be aggregated by these existing set-ups. Therefore it is already possible for the more advanced treasury teams to begin the journey now and start preparing the set-up for open banking and real-time treasury.

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. The terms “real-time payments,” “faster payments,” and “instant payments” are often used interchangeably to describe this type of modern payment infrastructures, which are generally domestic and sometimes regional in nature. 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 ISO 20022 XML Fixed formats CSV formats What Is a Typical Payment Flow of Instant Payments? The Federal Reserve explains on its website how instant payment flow works among its network participants. It represents well how real-time payments work in general, with everything taking place in as quickly as just seconds. Source: FedNow “About The FedNowSM Service” 1. 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. 2. In step 2, the sender’s financial institution submits a payment message to the FedNow Service. 3. In step 3, the FedNow Service validates the payment message, for example, by verifying that the message meets message format specifications. 4. 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. 5. 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. 6. 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. 7. 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. 8. 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” Example of Adopting Real-time Payments 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 payment 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

FX volatility is at a 20 year high, and coupled with high interest rates, the challenge of delivering predictable earnings guidance against a tightening budget has become a top priority for CFOs.

FX volatility is at a 20 year high, and coupled with high interest rates, the challenge of delivering predictable earnings guidance against a tightening budget has become a top priority for CFOs.

The scale of Lowe’s bank account environment is extremely large, with over 2000 bank accounts with 33 banking partners. Prior to Kyriba, the treasury department used a third party application for bank fee analysis,...

The scale of Lowe’s bank account environment is extremely large, with over 2000 bank accounts with 33 banking partners. Prior to Kyriba, the treasury department used a third party application for bank fee analysis, and the process was extremely cumbersome, taking 2 full days to complete, resulting in just a summary of numbers with no analytical work. "Before Kyriba, the goal of the process was just to simply get through it. No analytics...just 2 full days of pulling the data together.” Jon Korpal, Senior Treasury Analyst, Lowe’s With Kyriba’s Bank Fee Analysis, Lowe’s is able to pull reports on a macro scale to immediately identify any outliers. They now produce a complete analysis of their volumes, unit fees and total fees by account, all on a month-over-month and year-over-year breakdown. They can immediately compare services across banks and drill down to a micro-level for any out-of-policy store activity. “With Kyriba we are more easily able to zero-in on store activities. I can quickly see the stores that are generating excess fees simply because they are doing things outside of our standard policies and procedures.” Jon Korpal, Senior Treasury Analyst, Lowe’s High Turnover Requires Quick Identification of Out-of-Scope Fees The ability to quickly identify stores garnering excess bank fees is crucial in the retail environment, where employee turnover can be high. For example, a store that deposits loose change in their nightly deposit will get charged fees for doing so. If this practice is not detected and corrected right away, it is possible the employee in need of training will have moved to a different position or company by the time other software would have caught the mistake. “I’m able to get the data out of Kyriba using Bank Fee Analysis, so I’m able to spend my time focusing on the analysis side and not just trying to compile the data. I feel very confident I have visibility into everything I need to see, and it really keeps the banks honest.” Jon Korpal, Senior Treasury Analyst, Lowe’s Keeping the Banks Honest Roughly 95% of Lowe’s accounts are with 3 main banks, and every year Lowe’s performs an annual peer bank study with a third party that compiles and compares fees that Lowe’s is being charged against other companies in their peer group. Using Kyriba’s Bank Fee Analysis allows Lowe’s to feel confident in their numbers and can determine if any anomalies are a one-off issue or a more concerning trend. With all the rates going up in today’s environment, having Bank Fee Analysis, and the banks knowing we have access to the data, allows us to confidently challenge banks on fees and rates with success. Scorecard System Helps Treasury Demonstrate Kyriba’s Value to Management Lowe’s employs a scorecard system to review and analyze technology, and in evaluating Kyriba, Bank Relationship Management scored as the most valuable to Lowe’s. Treasury was able to use the efficiency and cost savings made possible through the module to demonstrate the need to management and get funding for adding Bank Fee Analysis to their Kyriba instance. About Lowe's Lowe’s grew from one small town hardware store in North Carolina to one of the largest home improvement retailers in the world, with over 1800 stores in US and Canada and $96.3 billion in annual sales.

On-Demand, On Your Time. Kyriba has elevated technology for CFO’s and Treasurers around the world. Join us for a deep dive into the NEW Kyriba Treasury, Payments & Risk Platform. With brand new User...

On-Demand, On Your Time. Kyriba has elevated technology for CFO’s and Treasurers around the world. Join us for a deep dive into the NEW Kyriba Treasury, Payments & Risk Platform. With brand new User Experiences, embedded analytics and visualizations and next wave connectivity strategy with Award Winning API’s, Kyriba is helping customers realize real-time liquidity.

In a high interest rate environment, coupled with increasing volatility, CFOs and Treasury leaders are demanding more robust and real-time controls over their liquidity. This demo webinar will demonstrate the value of Kyriba's liquidity...

In a high interest rate environment, coupled with increasing volatility, CFOs and Treasury leaders are demanding more robust and real-time controls over their liquidity. This demo webinar will demonstrate the value of Kyriba's liquidity planning solution.

Kyriba is the global leader in cloud treasury and finance solutions, delivering Software-as-a-Service (SaaS) for CFOs and corporate treasurers with a full suite of products and solutions across cash and risk management, payments, and...

Kyriba is the global leader in cloud treasury and finance solutions, delivering Software-as-a-Service (SaaS) for CFOs and corporate treasurers with a full suite of products and solutions across cash and risk management, payments, and working capital. The company was founded in 2000 and is currently headquartered in San Diego, with global offices in the Americas, Europe, Asia Pacific, and other major locations. More than 2000 clients in 100 countries trust Kyriba to empower and enable them to transform the way they access and leverage liquidity to build resilience, generate value, and unlock growth. Is Kyriba an ERP System? Kyriba’s cloud-based treasury management system (TMS) is not an Enterprise Resource Planning (ERP) system. The purposes of the two systems are different. As Oracle defines it, enterprise resource planning systems are used to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. A complete ERP suite also includes enterprise performance management, software that helps plan, budget, predict, and report on an organization’s financial results. Usually ERP systems are either installed on-premises or implemented in the cloud. ERP platforms act like an information center for a company, enabling end-to-end workflow management and data analytics, by tracking all aspects of production, logistics, and financials. A Treasury Management System (TMS) is a more special-purpose software that focuses on the business needs and workflows for treasury, which is a function under the Office of the CFO. A treasury management software allows companies to process cash flow, manage banking relationships, and enhance the value of their cash flow. It can also help companies manage their assets, liabilities, and bank accounts through automation and integration with third-party applications. With modern API connectivity, ERP systems and treasury systems can be easily connected to exchange data in real-time. Kyriba has launched API connectors to SAP, Oracle, Microsoft Dynamics, and other major ERP providers to provide instant data flows, including event-based notifications. Kyriba can also push instant updates, like changes in payment status, to your ERP. Why Choosing Kyriba Before You Become a Kyriba Client There are many things to take into consideration when evaluating a software vendor. But it always starts with the business needs of your organization. To help our clients better understand their needs especially when they decide for their first cloud treasury and finance solutions, Kyriba has developed an industry-leading value engineering framework for our prospects to identify the maturity of their current state and the future state they would like to achieve. The Kyriba Value Engineering consultation and evaluation is complimentary for our prospects. Kyriba also invests heavily into enterprise security, because we know that treasury and payments are mission critical processes that require the strictest security scrutiny and validation by our enterprise clients. Kyriba has always focused on compliance and security testing as well as maintaining security and other data related certifications as part of our commitment to our customers. The platform is ISO 27001, SOC1/SOC2 compliant. It is also fully certified by SWIFT. After You Become a Kyriba Client Client experience is at the center of what we do. Our goal is to help companies implement strategic, automated processes to optimize their treasury operations. Kyriba offers an integrated approach to client success, ensuring customers are provided with the best implementation, training, and support resources available. For example, in 2022 Kyriba launched its new Kyriba Academy to provide our clients with regular and high-quality training programs, either on-demand or on-site, in order for our clients to accelerate their deployment, learn about new use cases, and get the most out of the Kyriba solution they have purchased. Every year Kyriba organizes client focused events for our client community to meet up and share their experience as Kyriba clients, the most famous one being KyribaLive. This event is more than a user conference: It is a global industry-wide gathering of treasury and finance professionals looking to harness new ideas and new technologies to streamline their operations and accelerate business performance. In 2022, KyribaLive was held in Paris and in 2023 KyribaLive will take place in Phoenix, USA. Who Uses Kyriba’s Cloud SaaS Software? Many global companies, including enterprises and mid-sized firms, choose to use Kyriba’s cloud treasury and finance solutions, including treasury, payments, risk management, and supply chain finance. The over 2000 clients come from almost all industries, such as Retail, Insurance, Manufacturing, Healthcare, Real Estate, and Transportation. The Kyriba platform is also well recognized in Public Sector, Non-profit, and Financial Services. 25% of EURO STOXX 50 companies and 20% of Fortune 500 companies are Kyriba customers. Check Kyriba client success stories to find out more about how Kyriba supports our clients to achieve treasury excellence: Adobe Danone Spotify Kyriba also has a global network of partners to support its client base, who play a crucial role in our growth and success. Kyriba partners include local system integrators, ERP vendors, audit firms, and banks. Our partner program delivers an array of tools, resources, and benefits designed to deliver value to you and our customers. To locate a Kyriba partner in your region, visit our partner page for more information. You are also welcome to visit our news channel to follow our latest partnership announcements. The Core Values of Kyriba Kyriba promotes five core values that form the basis of our “iCare” value system. These values are designed to be carried out in our workplaces globally, and guide our daily decisions. It is also Kyriba’s commitment to our customers, our partners, and to each other. The “iCare” values are: Innovation: rewarding employees for their innovations to encourage process improvement Accountability: taking personal responsibility for our actions Client Success: understanding client needs and developing solutions to drive decision-making within their organizations Respect: appreciating each other’s ideas, efforts, and commitments; embracing our diverse cultures and points of view Excellence: striving for excellence through leadership, teamwork, transparency, and integrity Diversity & Inclusion are also at the core of the Kyriba culture, rooted in our commitment to cultivating an inclusive environment that encourages, supports, and celebrates the diverse voices of our employees. The company employs over 1000 people globally. As Kyriba continues to grow, we are dedicated to attracting, hiring, and developing underrepresented populations, and have established the following metrics to keep us on track: By 2023, 29% of our US employee base will consist of underrepresented populations. Women will represent at least 32% of our global employee base by 2023. By 2024, 40% of our management (Supervisory) positions will be held by women. At Kyriba, we believe diversity is one of our greatest strengths, allowing us to better serve our clients, advance our offerings, and transform the marketplace.

Team of Four Solve “The Big Problem” at DT One William Tan, Kyriba, Neo Zi Xin and Vincent Fu, DT One The Challenge In the past, this fast growth company faced significant operational risk...

Team of Four Solve “The Big Problem” at DT One William Tan, Kyriba, Neo Zi Xin and Vincent Fu, DT One The Challenge In the past, this fast growth company faced significant operational risk issues and onerous banking processes with multiple bank accounts with multiple different banks due to its unique business model while lacking digital solutions or connectivity. A few major challenges defined “The Big Problem.” Operational risk – working capital was burdened by manual processes and required one treasury team FTE to manage cash positions and consolidate transactions, including manual consolidation of 3,000+ transactions per month from emails and spreadsheets. Flying blind – there was no single source of truth, minimal automation, no connectivity to banks, concerns for audit and regulatory requirements eclipsed challenges of posting errors to the wrong accounts. As banks were added, fees increased. Massive growth – DT One accelerated revenue growth by three times from 2017 to 2021, adding multiple new product offerings. Banking presence consequently increased 55%. Treasury now manages 100+ bank accounts with close to 30 unique banking partners. The Solution Prior to 2017, operational treasury functions were embedded in the finance function. However, following DT One’s exponential growth and international expansion, the added risk to operational cash and daily treasury operations coupled with an expanded scope of work necessitated a dedicated treasury function. In a bid to solve the problem and improve processes with a fully digitised solution, treasury determined the following objectives in advance of their RFQ process to: Improve automation and mitigate operational and regulatory risk. Reduce the staff hours spent on treasury operations. Achieve a single source of truth. Integrate and automate processes to reduce human errors, enhance checks, controls and balances as well as provide data driven analytics to the business. The strategy was put in place to improve the function of each treasury team person, advance and automate processes and fully digitise treasury technology to overcome the challenges of rapid, international growth as a company in the sophisticated and constantly evolving telecommunications space. Kyriba was selected to support the long-term growth of the company and as a SaaS solution, the finance function can scale and grow the technology as needed. The team leveraged Kyriba’s open API connectivity to gain 96% instant visibility into cash, and thus reduced idle cash by four times, gaining a yield on investment cash by two times. Best Practice and Innovation A full audit was conducted to determine the impacts of accelerated growth against the already high operational risk resulting from legacy processes and systems within the finance structure. This data guided the finance team to appoint a treasury team to manage the specialised and strategic functions around cash, liquidity and bank transactions during a rapid growth stage. A four-person treasury team was set-up with an ambition to solve “The Big Problem” and deliver more value-added services. With modern technology empowering their vision to be a strategic advisor to the business, the small but highly motivated and focussed team was able to expand their expertise and deliver advanced data analysis and decision support to the business leaders. Taking an API first approach to bank connectivity further demonstrates the best practice and innovation that solved the major problem of scalability, financial controls and strategic liquidity management for the company now and in the years to come. Bank connectivity and a consolidation of accounts’ views enabled the team to negotiate a uniform fee schedule across a single banking group despite the account location. Key Benefits Cost savings. Process efficiencies. Return on investment (ROI). Increased automation. Risk mitigated. Improved visibility. Errors reduced. Manual intervention reduced. Increased system connectivity. Future proof solution. Exceptional implementation (budget/time) – five months reduced to three months. About DT One DT One is the world’s largest network of non-cash micropayments and digital pre-pay partners. DT One’s B2B digital transfer network enables transfers for mobile top-ups, data bundles, vouchers, gift cards, utilities and a host of other prepayments, across 160+ countries. With a network of 1,800+ customers and network partners, DT One delivers smart digital connectivity solutions for over five billion mobile consumers across emerging economies, helping them maintain quality digital and social connections.

Payment fraud is a prevalent financial crime in today’s global and connected business world. It usually involves a fake or illegal money transfer committed by a criminal. It victimizes many organizations both in terms...

Payment fraud is a prevalent financial crime in today’s global and connected business world. It usually involves a fake or illegal money transfer committed by a criminal. It victimizes many organizations both in terms of financial losses and reputational damage. Types of Payment Fraud Fraud takes many forms. For consumers, some prevailing payment fraud examples are: Credit card fraud: there are many ways to steal someone’s credit card information. One of the more common scams is phishing, where a fraudster contacts potential victims (via emails, texts or phone calls), claims to represent a legitimate business and asks for credit card information. Another common scam is skimming, where criminals install small devices on payment terminals to record credit card details. Account takeover fraud: this type of fraud occurs when a criminal obtains a victim’s bank account login credentials to steal funds and/or information. Criminals can take over existing bank, credit card and ecommerce accounts, resulting in unauthorized transactions, credit card fraud and suspicious shopping sprees. Gift card fraud: scammers like gift cards because they are similar to cash–as soon as someone uses the gift card, the money is gone. The start of a gift card scam is familiar: scammers contact victims with an “urgent” situation–the victim owes taxes, needs to pay a fine, or must act quickly to help a friend or family member out of a sticky situation. Instead of sending money, the scammer tells the victim to buy gift cards, usually from specific stores. Once the victim has the cards, the scammer asks for the card numbers and PINs to access the money loaded onto the cards, and the victim’s money is gone forever. For corporations, the following types of payment fraud are commonly seen: Business email compromise (BEC): BEC scams typically begin with an urgent email sent to an employee that appears to come from a senior level official, requesting a money transfer. A variation of this scam consists of emailed invoices that appear to come from a routine supplier that have new instructions on where to send payment. Check fraud and Wire fraud: these are still the payment methods most susceptible to fraud today. AFP research found that 66% and 39% of financial professionals reported fraud activity via these two payment types in 2020. However, check fraud has declined in recent years as fewer organizations are using checks for B2B payments. Deepfake: voice fraud is a relatively new method of attack but one that has proven highly effective. As the name suggests, a criminal fakes the voice of somebody else with software that can successfully copy his/her voice via a small audio sample. Ransomware attacks: in a ransomware attack, a company’s internal system is compromised (usually through email phishing). Users are instructed to either pay a ransom or permanently lose access to their systems. Who Is Responsible for Payment Fraud Prevention in a Company? In modern enterprises, payment fraud prevention is a shared responsibility. That is also one of the reasons why it is challenging to stop fraud from happening. The typical payment process owner in a company lies within the office of the CFO, most often being the treasury team. There is also the Account Payable (AP) team who processes supplier payments and the Human Resources (HR) team who ensures salary payments are paid on time. These teams usually use their own specialized systems to process these payments. For example, treasury usually uses Treasury Management Systems (TMS) or a banking portal offered by a bank, while the HR team uses a payroll system due to confidentiality and data protection requirements. From an IT standpoint, the CISO office ensures that the payment systems in use fulfill the IT and cybersecurity requirements. Main Challenges with Fraud Prevention When it comes to corporate payments, there are three major areas of vulnerability in an organization that usually lead to payment fraud: Technical Vulnerability Insufficient encryption Disparate ERP or siloed back-end systems Data unsynchronization Lack of end-to-end automation Processes Vulnerability Lack of process standardization Lack of visibility Manual interventions throughout the payment process Human Vulnerability Inadequate training and lack of awareness Errors or lack of experience in judgment Lack of communication especially among different teams A simple rule of thumb is: The more decentralized a company is, the more manual steps are involved in the payment processes, the weaker the defense vector is, and the bigger the challenges are to prevent payment fraud. What Are the Consequences of Payment Fraud? Many high-profile payment fraud cases have captured media attention over the past years. They cost the victims both monetary and reputational losses. One such case was with Google and Facebook. A Lithuanian man called Evaldas Rimasauskas pleaded guilty in 2019 for committing accounts payable fraud by sending phishing emails to Google and Facebook employees with fake invoices and luring them to wire millions of dollars to his own bank accounts. The two companies were reported to have lost more than $100 million in total. Another famous fraud case that was highly visible in the media was with Nike. A former marketing manager of Nike scammed nearly $1.5 million in Nike proceeds for his own use by committing internal fraud. He was said to have forged his friend’s signature on checks and withdrew much of the money without his friend’s knowledge. Insider fraud can be very hard to prevent or detect because the signals might only be captured long after the fraud has been committed, or never detected at all. Use of Fraud Detection Solutions Today, treasury and finance professionals have many fraud prevention and fraud detection tools at their disposal. It is important to have control and monitoring mechanisms in place on top of employee education The following best practices give a good start. Offer employee training programs with fraud simulation tools to increase awareness about payment fraud Design an end-to-end automated payment processes to standardize payment controls and audit Standardize the workflows to lower the vulnerability coming from silos and lack of communication between the teams Adopt AI-powered real-time screening of all payments data to identify and block suspicious transactions for further validation Use of a Payment Hub to Prevent Fraud When you design workflows to prevent fraud, take the following checklist into consideration: Duplicate payment check BIC validation – including beneficiary country Bank account owner validation Sanctions list screening Payment policy compliance Payment pattern check with rules and AI For an example of how using the above controls in conjunction with Kyriba’s treasury and finance software successfully stopped payment fraud in its tracks, see how Kyriba helped prevent a fraudulent $8m payment.

Connectivity-as-a-Service 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 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 your 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. However, 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 banks 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 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 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 and Bank connectivity: many companies use the same mainstream ERP systems such as SAP, D365, Oracle, or Netsuite. When working with a vendor, a company does not have to build all these connectors one by one. Instead, it can leverage the pre-built and pre-tested connectors and even more importantly, the know-how already gained by other companies. 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 connectors 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 Kyriba SWIFT Service Bureau. By using this connectivity-as-a-service for SWIFT, 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. 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.

Bogged down by manual processes and lack of resources, the treasury team at Riot Games opted to level up their technology by implementing a TMS and an independent investment portal. Riot Games is a...

Bogged down by manual processes and lack of resources, the treasury team at Riot Games opted to level up their technology by implementing a TMS and an independent investment portal. Riot Games is a developer and publisher of many popular gaming titles, including League of Legends, which launched in 2009 and remains popular around the world some 13 years later. Other games launched by Riot in the past three years include Teamfight Tactics, Valorant, Legends of Runeterra and Wild Rift - a mobile version of League of Legends. Headquartered in Los Angeles, Riot Games has grown exponentially, with over 4,000 employees and 20 offices worldwide and has implemented many new systems and processes over the years to accommodate its explosive growth. Riot Games operates all over the world and collects revenue in various currencies. Due to its structure, revenue and cash go back to the developer’s publishing entities. While most of the company’s spending occurs in the US, several of its global publishing entities had built-up excess cash. Philip Giron, Treasury Manager, Riot Games, explains: “Outside of China, where we publish through our publishing partner, Tencent, we have five major publishing entities worldwide in South Korea, the Americas, the European Union, Singapore, and Japan. These reflect the main currencies we manage — US dollars, euros, Japanese yen, UK sterling, Korean won and the Singapore dollar. We also hold up to 10 additional currencies and transact in almost every single currency in the world, reflecting our global customer base.” Working across over 150 global bank accounts, the treasury team’s activity was highly manual, relying on spreadsheets and multiple banking platforms with various statement formats for reporting. “It was a long turnaround time to assemble the global cash reporting,” reveals Giron. “If the CFO wanted that information, I’d need a day to collect all the data. We wanted to make that information accessible to make data-driven strategic decisions.” Prior to implementation “It was a long turnaround time to assemble the global cash reporting. If the CFO wanted that information, I’d need a day to collect all the data. We wanted to make that information accessible to make data-driven strategic decisions.” Philip Giron, Treasury Manager, Riot Games Drawing up the Plan The Riot Games treasury team set out to implement a TMS for global operations, as well as focus on automating investments in Europe. In 2019, the treasury team of three began the treasury transformation project designed to dramatically close the gap between its limited resources and growing global responsibilities. The goal of the transformation was to eliminate as many manual processes as possible across cash reporting, investments and payments to gain more time for strategic analysis and put its excess, idle cash to work. “We attended a major North American treasury conference that is essentially the whole industry in one place, which was a great way to see all the products out there,” Giron says. “We spoke to many different providers and practitioners working in the space and eventually decided that Kyriba was the best fit for our needs.” Riot Games implemented Kyriba’s cash management, cash forecasting, bank account management, payments, and bank fee analysis modules as a phase one project. They also onboarded the independent investment portal ICD to access a broad selection of short-term investment products and efficiently research, trade and report on European investments with a streamlined, automated workflow. “We knew about ICD and felt it was a no-brainer for what we were looking for as far as a neutral portal with access to many funds goes,” Giron comments. “We also liked that there is no cost to using, setting up, or integrating ICD with our other treasury technology.” Attending the AFP Conference “We attended a major North American treasury conference that is essentially the whole industry in one place, which was a great way to see all the products out there. We spoke to many different providers and practitioners working in the space and eventually decided that Kyriba was the best fit for our needs.” Philip Giron, Treasury Manager, Riot Games Best Practices in Implementation Ensuring a solid project manager was assigned to the TMS implementation was paramount for the treasury team, who engaged Kyriba to shepherd the process and make sure milestones were met on time and on budget. The onboarding of ICD Portal followed a five-step process coordinated by the ICD team, and Riot Games was up and running with the investment portal in days. “These teams have many years of experience doing this, so it’s quite easy,” notes Giron. “The most I had to do was work with the ICD team to provide legal forms, and they handled the rest. The actual set-up process was seamless.” The TMS implementation was split into two phases to help the lean treasury team get set up with the technology in a way that didn’t negatively impact the day-to-day work. “Phase one was all about having the information readily available and uploaded in the TMS,” comments Giron. “While that sounds like a simple step, it was a long process as we have 150 bank accounts worldwide with up to 15 different banking relationships. We couldn’t just flip the switch and immediately have access to information – it was a work in progress.” The global nature of the Riot Games business meant that some of the banks it was onboarding into the TMS, particularly some Asian institutions, were not necessarily using the same banking standards or systems that, for example, its core North American banking partners were. Trying to navigate this inconsistency required delicate handling by the treasury team. “One of our biggest challenges was trying to get foreign banks, specifically China, to be amenable to our process and what we were trying to accomplish,” continues Giron. “Some banks would say that they didn’t operate with SWIFT or couldn’t work with Kyriba, but when we dug deeper and went up the chain of their organization, we found that they did have that capability.” With phase one complete, the treasury team has been able to move on to start phase two of its TMS implementation. This involves expanding the implementation beyond the US to its international subsidiaries and adding three more modules for cash accounting, multilateral netting and in-house banking. “The first phase was purely about getting all our information in one system,” confirms Giron. “Now that we’re entering phase two, we can start to execute on the tools that will help us manage the cash. This is only possible since we achieved realtime, centralized cash visibility.” The ICD implementation was somewhat more straightforward as, following the onboarding process, treasury simply had to switch on the portal. Having initially added two entities for training with ICD, treasury is now adding a third entity. Seizing Immediate Benefits Using Kyriba, month-end reporting for Riot Games has been reduced from three days to less than one hour. The treasury team has reduced excess cash globally, working closely with international finance teams, enabling it to increase its return on cash. On the short-term investments side, ICD Portal has enabled the treasury team to get in and out of trades quickly and easily. This all starts from the user interface experience at log-in, as Giron explains: “When you log in to ICD, I like that it’s streamlined and easy to navigate,” he says. “It gives me easy access to information on all the funds I want to explore. In the current uncertain investment market, having access to all of the fund’s data in one place, including ratings and fund holdings, allows me to make the most informed decision possible, and allows me to ensure compliance with our investment policy.” Having eliminated phone calls with each fund company directly, all trades using the portal are researched and executed in one place, with one ticket through clearing. “When we are executing on redemptions or purchases, I appreciate the ease of execution,” enthuses Giron. “There’s no red tape where you have to contact someone to approve it. For example, in just minutes, we rebalanced our MMF portfolio this morning through ICD. The transformation also benefits the accounting department, which uses the portal’s comprehensive transaction and valuation reports. “With ICD, the quick execution has freed up a lot of our time, as has the interface which allows for fast research of MMFs,” notes Giron. “Being a lean team, time is our most valuable resource. We have freed up more time to spend on cash forecasting, liquidity planning and investment portfolio analysis”. Through its global treasury transformation, Riot Games worked across departments to enhance reporting, eliminate excess cash outside of operational balances, reduce month-end reporting, from three days to less than a half day, and streamline short term investments to save time and optimize its portfolio for the best returns. Phase two of the TMS implementation will see the treasury team support its intercompany activity with technology for cash accounting, multilateral netting and in-house banking in order to optimize global cash balances. Beyond that, Giron can see a path for further integration to drive even greater efficiencies for the company: “Our finance and accounting teams use Oracle, so my vision would be to further integrate Oracle with ICD and Kyriba,” he concludes. “I know that integration is possible because we’ve talked to finance professionals who have done just that. If you can get computer systems and software to work to your favor, it makes life better and gives treasurers the time to focus on more strategic aspects of the job.” Most Valuable Resource “We have freed up more time to spend on cash forecasting, liquidity planning and investment portfolio analysis.” Philip Giron, Treasury Manager, Riot Games This article originally appeared in Treasury Management International (TMI) on November 28, 2022.

Thursday, March 9th 2023 - 7:00 AM (PST) | The economic volatility and downturn has highlighted the importance of cash and liquidity for businesses. It has become critical for finance leaders to have clear...

Thursday, March 9th 2023 - 7:00 AM (PST) | The economic volatility and downturn has highlighted the importance of cash and liquidity for businesses. It has become critical for finance leaders to have clear visibility into their liquidity so that they are able to proactively manage their cash lifecycle to ensure they can support evolving business requirements.

The lack of payment messaging standards around the globe has been a major issue for payment factory or payment hub modernization. The absence of standards has resulted in expensive cross-border payments, insufficient transparency, increased...

The lack of payment messaging standards around the globe has been a major issue for payment factory or payment hub modernization. The absence of standards has resulted in expensive cross-border payments, insufficient transparency, increased fraud, and heightened security risks. Many companies have allocated extensive resources to develop local formats, yet still face a complexity that prevents them from harmonizing end-to-end processes, including payments validation and data reconciliation, for domestic and international transfers. Over the years, the adoption of the 2009 version of the ISO 20022-based XML messaging standard has represented great progress. It is considered a mature format that is important for corporate payments globally. Nevertheless, companies and banks are still spending a lot of time and money supporting and maintaining local legacy formats–or even worse, proprietary formats–that pose maintenance challenges on a daily basis. Fortunately, under the joint effort of SWIFT, the European Policy Center (EPC), as well as many banks and corporations, the 2019 version of the ISO 20022-based XML messaging standard could be the light at the end of the tunnel. What’s New in the Latest Version of the ISO 20022 XML? ISO 20022, first introduced in 2004, is a messaging standard that establishes a common digital language for financial data worldwide. While SWIFT has started the migration towards ISO 20022 XML messages, the standard is widely used beyond SWIFT services. Currently, most real-time payment systems are using ISO 20022, and the standard has been used for more than 10 years for SEPA Credit Transfer and Direct Debit. Additionally, ISO 20022 is used for invoicing, investment fund orders, and foreign exchange activities. ISO 20022 contains many messages and it also has yearly releases. For instance, ISO 20022 release 2009 contains the pain.001.001.03 message, the most commonly used messaging format for payment initiation. In ISO 20022 release 2019, which is the latest version, the same message has been upgraded to version 09, pain.001.001.09. When it gets adopted by a majority of organizations, the 2019 version of the ISO 20022-based XML messaging standard will allow for speedy payment transactions, in part because it would eliminate complex layers of legacy payment codes. The new version provides more detailed, higher quality data, enabling better reporting, enhancing security procedures, and driving innovation by allowing financial institutions to analyze customer behaviors and design products that better fit their needs. By November 2025, SWIFT messages will be fully transitioned to XML for interbank settlements. For this migration, most banks will change their infrastructure and therefore will push their corporate clients to adopt the 2019 version of the ISO 20022 XML over other local standards for payments, such as DTAZV in Germany and AFB320 in France. The process has already started in Switzerland, where SIX is promoting this format as the new Swiss standard and Credit Suisse and the Swiss National Bank are already making it available to their customers. In Europe, the EPC has announced that the new version will become the SEPA Credit Transfer format as soon as November 2023. Common Global Implementation (CGI), an initiative to simplify various payment related corporate-to-bank implementations by promoting the wider acceptance of ISO 20022 XML, has already released its specifications. Globally, this new standard will allow the transmission of rich data in a more structured manner. It will enable end-to-end tracking and reconciliation of payments, which has always been an issue with cross-border payments. Currently, over 70 countries are already in the process of adopting ISO 20022, including China, India, and Japan. Why is ISO 20022 Important to ERP-toBank Connectivity & Payments? With the imminent global adoption of the 2019 version of the ISO 20022 XML, organizations need to be aware of its benefits as well as its limitations, as they prepare to add it to their payment mix. For finance and IT leaders, the new standard offers a myriad of benefits in comparison to its predecessors. Adopting ISO 20022 standards helps to prevent fraud, avoid system failures, and expedite payment transactions, large and small. Use case highlights: Instant Payments: The standard enables frictionless, real-time payments by creating a global, open standard that anyone can implement on any network. Rich Data: The rich, consistent, well-structured data enabled by the new standard delivers faster transactions and helps drive innovation by allowing organizations to develop products based on customer needs. Improved Regulatory Reporting: Because the new standard requires identical formats and a higher level of detail, it creates more secure payment information that lends itself to better, faster regulatory reporting. Fraud Prevention: A standard payment format helps organizations identify fraud, including money laundering. The fact that the new format requires structured and complete addresses limits the fraud risks too. Compliance (Security Enhanced): The consistent payment format facilitates compliance with government regulatory requirements. Interoperability: The standard helps to promote interoperability for cross-border payments, improving the ability to easily exchange and make use of information. Payments Hub Upgrade: It meets the need for payment system renewal programs, ensuring alignment with global industry standardization such as SWIFT’s cross-border payments messaging migration where the MT messages will gradually be replaced by XML. Faster Reconciliation: It supports Unique End-to-end Transaction Reference (UETR) with a standardized tag, allowing the transmission of this unique id from any ERP system in a payment file to the bank and back in payment acknowledgement and bank statements. Tracking and Beneficiary Advice: The new standard improves the transmission of information through end-to-end tracking and the payment advice to the final recipients. On the flip side, while the new standard promises improved messaging interoperability between systems for the greatest number of participants, the actual experience is dependent on how individual banks set up the messaging standard internally. In other words, banks will deploy the new messaging standard differently and some workarounds will likely be necessary for seamless payment transactions. Banks* indicate time, resource, and technology constraints as major hurdles to their ISO 20022 migration. 73 percent of banks agree that technology constraints within the bank limit their ability to do more with their migration to ISO 20022.   63 percent of banks agree that budget or resource constraints limit their ability to do more with their ISO 20022 migration. Celent anticipates that the majority of banks will do just enough and be largely on time for the deadline. * Data from 51 banks surveyed across Europe Source: CELENT (2022). Survey & report: The race to ISO 20022. What Does it Mean for Your Organization? With so many tangible benefits the new standard can bring to the corporate payments, organizations should adopt it as soon as their banking partners offer it. However, according to a recent Celent survey, not all banks are equally prepared to migrate to ISO 20022. As a result, Celent also found that many corporate clients have not been sufficiently informed by their banking partners on the forthcoming ISO 20022 changes and more importantly, what actions companies would need to take to plan for the changes. This lack of communication is unfortunate as corporations must also prepare their systems to send and receive the new payment format. If not, the opportunity to benefit from the richer data is lost because the extensive data in payment messages could be truncated by the end recipient due to system unreadiness and messaging incompatibility. Based on Kyriba’s experience, we foresee that it will require some effort for enterprises to get their internal systems ready for the new message format. A quick checklist includes: Cleaning up the ERP Database with More Structured Third-Party Information. As more and more countries will only allow structured addresses in cross border transfers, complete information for the beneficiaries (full names, complete addresses and even identification numbers) will become a must. SWIFT initiative, known as CBPR+ (Cross Border Payment and Reporting +), aims to provide structured addresses already in MT messages. Kyriba advised its clients to start completing the structured addresses, at least for city, zip code, and country (and for some countries, also state/province). Harmonizing the Payments Validation Workflow. As part of the workflow design, Kyriba’s recommendation to our clients is to consider implementing a fraud detection system. The rule-based and AI-powered fraud and compliance detection mechanism will remove a lot of time-consuming and error-prone manual steps to validate payments and let all stakeholders get better control over the payments processed. Creating Processes for ERP and TMS Integration and Automating End-to-end Reconciliation. By using a unique import interface, generating unique ids for each imported file, and initiating payments in formats containing these unique ids, the reconciliation process will be transformed. Acknowledgments will be integrated with a specific format (XML Pain.002.001.10) that will allow cash managers to be alerted almost immediately when a payment is rejected. With end-to-end integration, the information can be fed in real time back to ERP for quick action. How Can a Technology Partner Help? After years of working with dedication to create a vast library of proprietary formats, the Kyriba payments team sees the coming changes as a chance to get closer to global standardization. However, as a mission-critical process, any disturbance in payment processes could cause business disruption, supplier dissatisfaction, and late material deliveries. Understandably any major format change or update makes payments and IT teams apprehensive. Therefore, it pays off to understand the subject matter in advance, plan a progressive roadmap to adopt the new standard, and if needed, work with a specialist vendor to manage the whole transformation. Kyriba is always at the forefront of formats and payments innovation, with proven ability to quickly support the latest formats required by the market. Kyriba clients can already seamlessly exchange payment transaction data with Credit Suisse using the new standard. Kyriba also supports SEPA CT XML ISO 20022 version 2019, has developed the CGI standard version XML ISO 20022 version 2019 format, and is ready to support the SWIFT migration from MT to MX messages via SWIFT Interact. To illustrate the efforts it usually takes to develop payment templates, let’s deep dive into the process: All payment templates must be individually developed and tested with each bank Developers must coordinate all testing with each bank’s technical team Format typically fails first test, multiple rounds of testing are required with each format Companies must work on each bank’s timeline and time zone Average timeline from development to production is 3-6 months for a single payment format Kyriba offers its clients a pre-built and pre-tested payment format library with over 50,000 payment scenarios ready for use, covering all major banks across the globe. Based on Kyriba’s Value Engineering Projects with our clients, Kyriba clients are looking at an average saving of $100,000 from this time-consuming and labor-intensive process. If you are in the middle of the XML migration or about to start the project, contact one of our payment experts today and we look forward to supporting you in your future payment journey. References Common Global Implementation (CGI) Initiative European Payments Council (2022): Guidance on the Migration to the 2019 Version of the ISO 20022-based XML Messaging Standard ISO (2020) Introduction to ISO 20022: Universal Financial Industry Message Scheme SWIFT (2022) UETR SWIFT (2022) What is ISO 20022? Sources CELENT (2022) Survey & Report: The Race to ISO 20022 The SWIFT Standards Team (2020): ISO 20022 for Dummies (5th) John Wiley & Sons, Ltd.

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.

As we leave 2022 behind us, we find 2023 starting with both high volatility and increased expectations for managing risks. What does this vulnerability mean to treasurers? What types of outcomes should we expect...

As we leave 2022 behind us, we find 2023 starting with both high volatility and increased expectations for managing risks. What does this vulnerability mean to treasurers? What types of outcomes should we expect across the domains of credit, FX price volatility, elevated inflation, and increasing interest rates?

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 as an expedited pathway for bank connectivity, bank connections are just...

APIs offer a lifeline for CFOs and treasurers who are looking for both innovation and cost improvements. Although many CFOs think of APIs 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 The different types of APIs that are available How APIs can revolutionize ERP connectivity, cash management, liquidity management, payments and more. 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. Application programming interfaces (APIs) offer a lifeline for CIOs and CFOs who are looking for both innovation and cost improvements. And while many CFOs think of APIs as an expedited pathway for bank connectivity, bank connections are just the tip of the iceberg. 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 Matter for Finance 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, 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 open 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 can 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 require APIs. Simply put, if you want payments to settle instantly, you can’t rely on file transfers. 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 will change the way treasury and finance 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.

A Quarterly Report Assessing the Impact of Foreign Exchange to North American and European Corporate Earnings About the Report The January 2023 Kyriba Currency Impact Report analyzes the reported effects of currencies to North...

A Quarterly Report Assessing the Impact of Foreign Exchange to North American and European Corporate Earnings About the Report The January 2023 Kyriba Currency Impact Report analyzes the reported effects of currencies to North American and European companies’ earnings during the third quarter of 2022. To obtain this information, Kyriba analyzed the earnings calls of 1,200 publicly traded North American and European companies as part of a continued effort to provide insight into how foreign exchange impacts organizations. The companies included in this data set are large multinational firms doing business in more than one currency with at least 15% of their revenue coming from overseas. Kyriba Currency Impact Report -Key Findings The collective quantified negative impact reported by both North American and European companies totaled $47.18 billion in Q3 2022, a 26.6% increase from Q2 2022. 24% of corporates studied (289/1200) quantified +/- impacts totaling $64.22 billion ($47.18 billion headwinds), ($17.04 billion tailwinds). The euro was the currency most mentioned as impactful by North American and European companies, the Argentine peso was the most volatile currency. 256 North American and European companies reported currency headwinds in Q3 2022. Of those companies, 244 companies quantified their FX impacts. Total Quantified Currency Impacts by North American and European Companies (Billions) North American Companies’ Quantified Currency Impact (Billions) European Companies’ Quantified Currency Impact (Billions) Top 5 Volatile G20 Currencies Top 5 Volatile Currencies as Weighted by GDP Percentage Currency Impact on North American Corporate Earnings

Tuesday, 24 January 2023 - 2pm GMT | 3pm CET | 9am ET | TMI showcases topical, pragmatic solutions and strategic insights for all treasury practitioners, from experienced treasurers and CFOs to those new...

Tuesday, 24 January 2023 - 2pm GMT | 3pm CET | 9am ET | TMI showcases topical, pragmatic solutions and strategic insights for all treasury practitioners, from experienced treasurers and CFOs to those new to treasury. As TMI are organising this webinar, please just add this text: Instant payments enables treasury to hold on to precious liquidity for longer, while real-time collections offer significant working capital advantages. In this webinar, Eleanor Hill (TMI) will moderate a panel including Rishi Munjal (Kyriba) and a special guest corporate speaker, who will discuss recent developments in real-time payments and what they mean for corporate companies.

"We selected Kyriba thanks to the track record they have working with fast growing tech companies that made it a safe bet. We’re implementing an advanced treasury system that can handle all our requirements...

"We selected Kyriba thanks to the track record they have working with fast growing tech companies that made it a safe bet. We’re implementing an advanced treasury system that can handle all our requirements in a scalable way, regardless of how quickly we grow." Mahmoud Iskandarani, Director, Group Treasury, Bolt — Building the Future of Mobility The Challenge: Scalability: Ranked one of the fastest growing companies in Europe, Bolt needed a scalable treasury driven by technology to support the acceleration of the company. Mitigate Financial Risk: Reaching unicorn status in just 5 years, proper treasury management was required to mitigate financial risks and create an efficient working capital management. Strategic Decisioning: Needed a system to navigate and act on the opportunities arising from the current macro environment. The Solution: With Kyriba’s Open Format Studio, Bolt can manage the payment format process themselves to integrate new payments as expansion continues, along with: End-to-end FX management Connectivity to Bolt’s Bank via API Integration across Bolt’s internal systems – including Workday Managing intercompany lending Positive business outcomes expected from this project: Efficiency equivalent to 2 Full Time Employees. Hard and Soft cost savings of millions of Euros per year due to financial risks mitigation, automated FX, improved yields on cash, and efficient working capital management. "Kyriba’s forecasting module, their APIs and connections, as well as their partnerships will make all this possible and smoother!" About Bolt The 1st European mobility super-app, fighting for better cities and against private cars, offering a better alternative to private car ownership with flexible urban mobility – including ride-hailing, shared cars and scooters, and food and grocery delivery.

By any measure, 2023 is shaping up to be a challenging year for businesses both in the U.S. and across the world. As the FOMC raises interest rates another 50 basis points in December 2022, expectations on continued rate increases persist. FX rates and commodity prices continue to experience heightened volatility, driven by the threat of recession and ongoing supply chain problems. Beneath these headlines, the treasurer’s environment continues to evolve, with ongoing innovations across treasury offering opportunities to improve treasury's role and effect on overall financial management.

By any measure, 2023 is shaping up to be a challenging year for businesses both in the U.S. and across the world. As the FOMC raises interest rates another 50 basis points in December 2022, expectations on continued rate increases persist. FX rates and commodity prices continue to experience heightened volatility, driven by the threat of recession and ongoing supply chain problems. Beneath these headlines, the treasurer’s environment continues to evolve, with ongoing innovations across treasury offering opportunities to improve treasury's role and effect on overall financial management. For companies with a small number of key customer accounts, monitoring individual DSO levels will also highlight potential problems with key customers and allow early intervention to take place.

Backed by strong incentives and market-leading technology, Kyriba delivers one of the strongest and most comprehensive partner programs in the industry. Treasury and Finance Technology: An Expanding Market PartnerSURGE is a program designed to...

Backed by strong incentives and market-leading technology, Kyriba delivers one of the strongest and most comprehensive partner programs in the industry. Treasury and Finance Technology: An Expanding Market PartnerSURGE is a program 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 cash, liquidity and risk management The business value offered by Kyriba’s market leading solution Sales Certifications Platinum Sales For sales professionals who need to understand a prospect’s core business challenges in Treasury and Payments and Kyriba’s associated value to generate leads and grow revenue. Platinum Plus Sales For sales professionals who want a deep understanding of the entire Kyriba portfolio, including Risk Management and Working Capital, as well as a prospect’s business challenges associated with Enterprise Liquidity Management. Gold Pre-Sales For pre-sales professionals who need to demonstrate the value and associated functionality of core liquidity and present Kyriba’s value proposition to separate Kyriba from the competition and win new business. 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 working capital market modules of Kyriba’s solution. Sales Onboarding and Certification Following the Certification, sales professionals will be able to identify prospects with the requisite business needs, provide a brief elevator pitch of Kyriba’s value, and successfully introduce a solution specialist to continue the sales process. Sales Certification Content Platinum Sales Certification: 3-day instructor-led training (virtual) Product focus: Treasury and Payments Topics: Domain and industry business challenges selling to the economic buyer, primary customer business drivers, competition, pricing, Kyriba’s differentiators Product focus: Treasury and Payments Platinum Plus Sales Certification: 5-day instructor-led training (virtual) Product focus: Risk and/or Working Capital Topics: Domain and industry business challenges, selling to the economic buyer, primary customer business drivers, competition, pricing, Kyriba’s differentiators Role play and hands-on exercises 15-min pitch by partner participants 1-hour demonstration of Kyriba (upon request) Prerequisite Optional; access to e-learning onboarding curriculum on market conditions and market drivers Resources As part of the partner sales certification, sales professionals will receive access to Kyriba’s: Partner Portal: Access to CRM to create and view new opportunities/contacts Content Library: Access to key sales enablement content Sales University: Knowledge base of self-paced, on-demand training courses Pre-Sales Onboarding and Certification Following the Certification, sales professionals will be able to identify prospects with the requisite business needs, provide a brief elevator pitch of Kyriba’s value, and leverage tools to demonstrate product capabilities and drive deeper discovery with prospects. Gold Pre-Sales Certification 1.5-day instructor-led training (virtual) Product focus: Treasury and Payments Demo topics include cash and liquidity management, payments 45-min demo led by partner attendee to include all modules listed above Platinum Pre-Sales Certification 3-day instructor-led training (virtual) Product focus: Treasury and Payments Demo topics include cash and liquidity management, bank relationship management, payments, payment fraud 90-min demo led by partner attendee to include all modules listed above Platinum Plus Pre-Sales Certification 5-day instructor-led training (virtual) Product focus: Treasury, Payments and Working Capital Demo topics include cash and liquidity management, bank relationship management, payments, payment fraud, debt and investments, supply chain finance 120-min demo led by partner attendee to include all modules listed above Prerequisite Optional; access to e-learning onboarding curriculum on market conditions and market drivers Resources As part of the partner sales certification, sales professionals will receive access to Kyriba’s: Partner Portal: Access to CRM to create and view new opportunities/contacts Content Library: Access to key sales enablement content Sales University: Knowledge base of self-paced, on-demand training courses Recorded Demos: Access to tool to manage customer facing demos of product capabilities Demo Scripts: Proven demonstration scripts to guide the perfect demo for each solution area

Regulatory Requirements Created Unique Challenges At the onset of the pandemic, Xcel Energy embarked on a mission to upgrade out of legacy systems and spreadsheets and into a cloud-based treasury management system to modernize...

Regulatory Requirements Created Unique Challenges At the onset of the pandemic, Xcel Energy embarked on a mission to upgrade out of legacy systems and spreadsheets and into a cloud-based treasury management system to modernize and automate its operations. “We have benefited immensely from centralization and uniformity. For the first time ever all external debt instruments are managed in the same system. It’s been nice to not have to maintain huge spreadsheets now that we transitioned to Kyriba.” Eric Gray, Director of Cash Management for Xcel Energy Goals of the Modernization Included: Reduce manual processes across treasury and finance Embrace system automation and centralization Enhance fraud protection Leverage consistent data across all entities and positions Create automated reporting that automatically feeds to general ledger Physically move cash through wire transfers This last goal fulfilled regulatory constraints that utility companies face in having to move actual cash from one entity to another as opposed to a common practice of using a virtual banking structure. This was just one of many unique requirements of Xcel Energy’s transition to operating in a regulated environment with multiple entities. Another unique requirement was Xcel Energy’s reporting needs. It was necessary to see each company’s net position both day-to-day and monthly. Kyriba enables Xcel to view each entity’s cash position inclusive of forecasted payments, fulfilling another regulatory requirement. “Xcel Energy’s treasury function has never been more centralized and automated, and there’s now a structure to scale. Modernization shouldn’t stop with an implementation; it should evolve.” Kevin Koeneman, Treasury Manager at Clearsulting Kyriba Implementation: 14 Kyriba Modules 15 integrations 4 connected reporting banks 1 connected payment bank 100+ bank accounts Big Bang Approach to Implementation With the guidance of implementation partner Clearsulting, Xcel Energy went live with Kyriba for all modules and entities on March 1, 2022. This ‘big bang’ approach enabled a simultaneous embrace of Kyriba as the system of record and the official replacement of three legacy systems. Thanks to a three month parallel implementation, Xcel Energy has performed six month-ends and two quarter-ends without issues across multiple facets of treasury. Debt and Investment Management Maintained five types of required external instruments in a centralized system: 5 commercial paper programs with authorized issuances of $3.1B USD 5 syndicated credit facilities at $3.1B USD 76 long term bond issuances at $24B Short-term bank loans Short-term investments – overnight sweep accounts and money market funds for investment of excess cash Leveraged the relationship between Kyriba and ICD to streamline management of all money market investments under one portal Reduced the need for human intervention and eliminated the risk for human data input errors through automation and reporting Intercompany Management, Payments and Customer Rebates Established 2 types of intercompany borrowing structures: In-House Banking and Utility Money Pool (UMP) Enabled seamless and compliant borrowing between holding and operating companies as well as between operating companies Leveraged multiple payment templates in Kyriba to reduce repetitive data entry and automatically sync new payments to specific intercompany positions Automated reconciliation of more than 500,000 vendor payments and customer rebates each year across five payment systems and seven different integrations Facilitated the escheatment of thousands of uncashed check payments each year as required by law About Xcel Energy Xcel Energy is a holding company that owns and operates 4 regulated utility companies, a service company, and numerous nonregulated entities, servicing 3.7 million electric customers and 2.1 million natural gas customers across 8 states in the Midwest, Southwest and Western United States.

Kyriba Analytics delivers integrated visual dashboards and pre-built analytics for Kyriba Cash, Liquidity, Treasury, Risk, Compliance and Supply Chain Finance modules and data. Kyriba Analytics goes beyond traditional reporting by offering on-demand drill down,...

Kyriba Analytics delivers integrated visual dashboards and pre-built analytics for Kyriba Cash, Liquidity, Treasury, Risk, Compliance and Supply Chain Finance modules and data. Kyriba Analytics goes beyond traditional reporting by offering on-demand drill down, dashboard editing, and a transformed visual experience for presentation-ready information sharing. Data visualization, reporting and insights into more cross-functional information are key areas where CFOs need treasury to improve its technology solutions to match industry best practices. Strategic Insights into Liquidity and Risk Kyriba Analytics gives more predictive decision-making in the hands of finance with AI. Dashboards for scenario analysis, apply trends, market data and past criteria to drive improved insights: Visualize cash and liquidity across your entire organization Forecast debt with flexible scenario analysis on both cash inflows and outflows for clarity against future shifts Visualize debt and risk level impacts to your profitability Support capex spend and strategic decision-making for optimal ways to fund acquisitions or support funding international subsidiaries Know where debt load is and across types of instruments Featured Highlights Interactive Analysis Dynamic visualization and drill-down analysis Uncover data relationships and trends through graphical exploration Ready to Go Instant access to standard reports and formulas out of the box Leverage pre-built KPIs, visualizations, and calculations Self-service Dashboard Build your own interactive dashboards Share your customized dashboards with your teams Fully Integrated Fully secure within Kyriba’s cloud Complete data segregation by user Empower team collaboration Analytics Use Cases Liquidity Analytics What is my net debt and my liquidity? How and when best to pay down my debt? How many “days of survival” do I have? Cash Analytics Do I have enough cash? Is my cash forecasting reliable? What is my activity with banks? Payments Analytics Where is my biggest concentration of payments? Are we sending too many wires? Which users execute payments and who approves them? Risk Analytics How much is available on my credit lines? What is my borrowing profile? What is the value of my financial assets? SCF Analytics What is my supplier participation rate? How many documents have been uploaded? Which invoices are financed? Compliance Analytics Who are the users and where are they located? Which modules can they access with which rights? What data can they access? Why Kyriba Analytics? Traditional Reporting Analytics Advanced data visualization Self-service dashboard creation Data drill-down Variable change on-the-fly Large data volume handling Empower better collaboration across the organization

Kyriba’s Cash Management, Liquidity Planning and Liquidity Analytics modules offer a complete solution to predict cash and liquidity requirements and make data-driven liquidity decisions. The practice of cash forecasting has changed post-pandemic. CFOs and...

Kyriba’s Cash Management, Liquidity Planning and Liquidity Analytics modules offer a complete solution to predict cash and liquidity requirements and make data-driven liquidity decisions. The practice of cash forecasting has changed post-pandemic. CFOs and boards demand increased free cash flow necessitating greater precision in forecasting and planning. Liquidity planning has emerged as a new practice that extends beyond cash forecasting to make more informed and efficient decisions to increase the generation and preservation of cash on the balance sheet and to support the CFO plan for growth, expansion, acquisitions, and EBITDA improvement. The Kyriba platform supports integrated cash and liquidity practices: Key Features Cash Management – for daily cash positioning and reconciliation of prior day bank transactions, including bank reporting, bank transaction tagging, and target balancing of accounts. Kyriba module: Cash Management Cash Forecasting – projecting cash surpluses and requirements 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. Kyriba module: Liquidity Planning Liquidity Planning and Liquidity Analytics – surrounding the forecasting with investment and borrowing data to make more informed liquidity decisions. The Liquidity Plan makes the cash forecast actionable, demonstrating the impact of investing, and borrowing decisions with real-time data insights. Kyriba modules: Liquidity Planning and Liquidity Analytics The combination of 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 platform they need to proactively manage the cash lifecycle end-to-end. The Liquidity Planning module supports cash forecasting while the Liquidity Analytics module surrounds Liquidity Planning with data and insights to make data-driven liquidity decisions. Clear identification of target liquidity levels and flexibility in reporting: To learn more about Kyriba’s Liquidity Planning and Liquidity Analytics modules, request a demo today.

This CFO Podcast discusses free cash flow strategies and business leadership with Dan Gardner, CFO at DT One.

*Accepting cookies will allow the podcast player to be displayed. Free Cash Flow Strategies and Business Leadership This CFO Podcast features an interview with Dan Gardner, Group CFO at DT One, an international network of non-cash micropayments and digital pre-pay partners that delivers digital connectivity solutions.   Editor's Note In this episode, Dan explains the importance of cash forecasting, or liquidity planning, how to drive value across the organization through empowering teams, and data driven business leadership. Financial technology and AI solutions are empowering finance leaders to increase efficiency and optimize growth with new data analytics. He explains how to monetize insights from data and minimize risk. When it comes to business leadership, Dan says that embracing technology unlocks results, especially for finance teams and streamlining treasury processes. “Give them the tools and the resources and the courage to be challenged by it,” he says, to “better the environment, the decision making, [and] create value for the enterprise.” Dan has a 12-year track record of creating enterprise value as a CFO. At DT One, he’s responsible for the global oversight of all finance, treasury, risk and compliance functions. He’s built smart, agile finance organizations and transforms core data into revenue generating intelligence. This CFO podcast is an excellent guide for finance leaders and CFOs who embrace thought leadership from their peers. Listen to examples of how other CFOs manage risk, drive growth, and take-on the expanding, strategic role of the CFO.

2022 Treasury Technology Analyst Report: The Definitive Guide to Treasury Technology Solutions This special edition provides an exclusive look at the solution set offered by Kyriba.

2022 Treasury Technology Analyst Report: The Definitive Guide to Treasury Technology Solutions This special edition provides an exclusive look at the solution set offered by Kyriba.

Modernizing Cash Forecasting and Liquidity Planning Cash forecasting has changed post-pandemic, with new practices emerging to predict free cash flow and liquidity more accurately and at greater speed. Kyriba has responded with a completely...

Modernizing Cash Forecasting and Liquidity Planning Cash forecasting has changed post-pandemic, with new practices emerging to predict free cash flow and liquidity more accurately and at greater speed. Kyriba has responded with a completely modernized solution to confidently extend forecasting horizons and support data-driven liquidity decisions. Reduce Reliance on Spreadsheets Treasury teams have often turned to spreadsheets for their forecasting needs to model both simple and complex reports and scenarios. Kyriba’s Liquidity Planning module is designed to be as easy as a spreadsheet with the flexibility to model forecasting complexity. Kyriba Delivers Flexibility and Precision Kyriba Liquidity Planning is a new cash forecasting module to help treasury and finance make more accurate decisions for days, weeks, months and years in the future. Liquidity Planning supports cash forecasting and – when combined with Liquidity Analytics – also support liquidity planning practices. KEY FEATURES 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. Liquidity Analytics The Liquidity Planning module combines with Kyriba’s Liquidity Analytics module to fully support liquidity planning practices. Liquidity Analytics surrounds the cash forecast with liquidity data from the Investments and Debt modules in Kyriba, presenting through pre-built dashboards to make your forecast actionable. Together, the Liquidity Planning and Liquidity Analytics modules unify cash and liquidity data, so you have the data and insight to optimize liquidity decisions.

"Align Technology, along with Kyriba and Refinitiv FXall, has created a simplified hedging program with rock solid analytics. Senior Management is again confident with the FX hedging program." Laura Fisher, Financial Risk Management Challenges...

"Align Technology, along with Kyriba and Refinitiv FXall, has created a simplified hedging program with rock solid analytics. Senior Management is again confident with the FX hedging program." Laura Fisher, Financial Risk Management Challenges Data visibility, collection, and analysis were very difficult Daily Rate Environment caused complexity in analyzing results Regionalized approach resulted in multiple iterations of accounting principles and platforms, preventing visibility into FX exposures FX trades done manually over the phone, leading to rate loss and non-competitive bids Solution Moved from a daily rate to a monthly rate environment for the FX Program Integrated Kyriba FX with SAP ERP and implemented Data Integrity Analysis to validate exposure and identify inconsistencies Began scorecards for regional accountability based on actual vs. forecasted analysis Introduced trading partner FXall to provide market-best rates for trades Outcomes Streamlined data flow end-to-end and gained confidence in data, decision-making, and the FX hedging program Monthly Rate Environment with refined forecast methodology and visibility into true exposures Eliminated spreadsheets and manual input with automation and ERP integration Reduced overall cost of hedging with best-rate availability

Kyriba is a fully SWIFT-certified Application for Cash Management and Payments, offering multi-bank Connectivity-as-a-Service integrated within Kyriba’s leading liquidity management cloud platform for treasurers and CFOs. SWIFT Alliance Lite2 for Corporates Kyriba has fully...

Kyriba is a fully SWIFT-certified Application for Cash Management and Payments, offering multi-bank Connectivity-as-a-Service integrated within Kyriba’s leading liquidity management cloud platform for treasurers and CFOs. SWIFT Alliance Lite2 for Corporates Kyriba has fully integrated SWIFT Alliance Lite2 with Kyriba’s cloud platform, enabling complete automation and straight-through processing for corporate payments. No internal IT effort is required for bank reporting, payments and other SWIFT messaging. Who Should Consider this Service? Clients who wish to maintain the administration of BICs, users and RMA keys, but also want to outsource bank format transformation and maintenance, as well as the monitoring of bank connections. SWIFT Service Bureau With Kyriba’s SWIFT Service Bureau, clients have their own SWIFT BIC fully managed by Kyriba. While the initial investment may be slightly higher on a monthly basis than Alliance Lite2, the total cost of ownership may be much lower, depending on your connectivity profile. Kyriba also provides a unique service for corporates to migrate from any other vendor to Kyriba’s SWIFT Service Bureau. Who Should Consider this Service? Clients with higher volumes of banks, transactions, payments, and bank accounts Clients who want a complete managed SWIFT service 22% of SWIFT Corporate BICs are managed by Kyriba 25% of Kyriba clients are using SWIFTNet Kyriba’s MT Concentrator Service For clients who want to have a quick start with bank reporting, Kyriba’s MT Concentrator service allows organizations to utilize a SWIFT BIC11 specifically provisioned for Kyriba clients. The service is priced per account, offering flexibility, cost benefits and quick onboarding for bank reporting with potential access to all SWIFT member banks. A few hundred Kyriba clients have already signed up for this service. SWIFT gpi for Corporates* SWIFT gpi improves the customer experience in cross-border payments by increasing their speed, transparency and end-to-end tracking. Hundreds of thousands of cross-border payments, are sent every day using the new gpi standard. Kyriba is certified for SWIFT gpi for corporates. Reduce Payment Investigations With end-to-end tracking and confirmation of credit, SWIFT gpi gives you full visibility into the journey of a payment. Improve Supplier Relationships By attaching the unique tracking reference to each payment, you can provide transparency on payments and keeping the flow of trade moving. Speed Up Invoice Reconciliation Payment data carried via SWIFT gpi is unaltered, making reconciliation much easier. Achieve Greater Capital Efficiencies With money moving faster and with greater transparency, you can improve your cash forecasting and optimize your liquidity. *Source: SWIFT “Naval Group is committed to maintaining the highest standards in compliance, and the new Kyriba SWIFT gpi offering helps our team to strengthen payments transparency and traceability so we can expand our position as the European leader in naval defense.” David Livi Vice President of Treasury and Financing at Naval Group

Kyriba gives the mortgage industry the technology solutions to realize greater centralized cash visibility, real-time treasury reporting, improved audit results, and regulatory compliance and control. Current Industry Challenges Cash & Capacity Finance & Treasury...

Kyriba gives the mortgage industry the technology solutions to realize greater centralized cash visibility, real-time treasury reporting, improved audit results, and regulatory compliance and control. Current Industry Challenges Cash & Capacity Finance & Treasury departments in the mortgage sector depend upon multiple banking relationships and data metrics in order to operate – those for warehouse capacity, warehouse cash, servicing lockboxes, escrow deposits, etc. This typically involves manually logging into multiple banking sites to gather reports, reconcile loan activity, compile a cash position and determine cash concentration. Market Opportunities Treasury and Capital Markets must be tactical partners in the organization and need to be prepared at all times to shift strategies and “pivot on a dime” as market opportunities or risks arise. This requires real time data that can be quickly analyzed, something that is lacking in a manual environment. Loan Level Cash & Accounting At any time, there are likely tens of thousands of loans to monitor, between funding, settlements and the servicing portfolio. Each of these loans have the potential of multiple different cash transactions – each transaction breaking down into multiple parts requiring separate journal entries. Deadlines Whether you are working against lock expirations, borrowers receiving keys for their new property, month-end timelines or bank cutoff times, there are multiple varying deadlines that need to be met on a daily, weekly and monthly basis. These deadlines need to be integrated in order to successfully maintain adequate customer service levels while also minimizing unnecessary interest expense or banking fees. Regulation The mortgage industry is highly regulated. Multiple audits can likely occur at a single time between warehouse renewals, investor due diligence, state audits and regulatory examinations. The ability to quickly reference archived data, authority levels, etc. is imperative in conducting an efficient audit. How Kyriba Can Help Kyriba empowers Mortgage Industry organizations, including several Fortune 500 companies, with the capabilities to optimize cash and liquidity, reduce operational regulatory risk, and streamline management reporting to capitalize on market opportunities. Cash/Capacity/Deadlines Kyriba provides centralized, real-time visibility into cash, as well as detailed transactional activity across all bank relationships in a single, secure platform. This enables effortless cash positioning and concentration decisions, intraday and across any time horizon. Streamlined Accounting Processes Kyriba automates cash and loan-level accounting across many levels, simplifying generation of journal entries, while introducing structured, reportable audit and controls to the accounting process. This saves countless hours and offers a single source of record for accounting inquiry, as well as seamless journal posting into any underlying ERP/accounting platform. Regulations Kyriba’s standard controls and workflows concerning entitlement and authorizations are configurable based on internal customer policies and guidelines. Kyriba provides the ability to enforce, as well as fully report on, any modifications. Time stamps, transaction-level documentary attachment, and fully reportable audit trails enable the ability to reference current state as well as historical information. Kyriba Analytics for KPI Reporting Kyriba provides a fully integrated business intelligence solution to ensure on-demand, drill-around, data visualization to find meaningful insights within high data volumes, while delivering on KPI reporting needs.

2022 was a year to remember, with extremes in every discipline: price volatility, unabated inflation, increasing borrowing rates, new forecasting demands, and the looming hope of real-time bank reporting. As you prepare for the...

2022 was a year to remember, with extremes in every discipline: price volatility, unabated inflation, increasing borrowing rates, new forecasting demands, and the looming hope of real-time bank reporting. As you prepare for the coming year, learn what your peers are putting into practice to make their treasury more financially resilient in 2023.

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.

Kyriba has been revolutionizing the treasury and risk management landscape for the past two decades. It has established itself as the go-to authority in the field of treasury management systems (TMS), with a cloud-based...

Kyriba has been revolutionizing the treasury and risk management landscape for the past two decades. It has established itself as the go-to authority in the field of treasury management systems (TMS), with a cloud-based SaaS platform and liquidity network that are unrivalled in their breadth and depth of capabilities. In this unpredictable economic climate, CFOs and Treasurers need to be able to rely on their treasury management solutions to provide stability and liquidity assurance. Kyriba facilitates this by offering its customers secure, cutting-edge enterprise connectivity solutions.  Taking into consideration the challenges and the amount of resources required to build its own ERP bank connectivity , many companies have chosen to work with a technology vendor who specializes in providing Connectivity-as-a-Service. Kyriba has been trusted by over 2000 clients globally and offers the following options for connectivity: Bank Connectivity Bank APIs to world leading banks such as Bank of America, CITI, J.P. Morgan (check out Kyriba Marketplace for the full list) Direct bank (FTP) connections to over 1000 banks SWIFT Connectivity (gpi compliant) SWIFT Service Bureau SWIFT Alliance Lite2 Extensive coverage of networks (ACH, Fedwire, EBICS, BACs, EDITRAN) Statement Concentrator Regional and Country Protocols Bank Format Transformation Enterprise Connectivity Pre-built and tested 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’s Value Engineering team is dedicated to ensuring that each of our clients gets the most out of their investment in our products and services. We work closely with our clients to understand how our products and services have been used to generate value. Through our experience working with clients from different industries, we have developed cutting-edge tools and processes to evaluate the return on investment for each client. We have found that, in most cases, the choice to use Connectivity-as-a-Service generates tangible return on the initial investment our clients make and our clients, who choose to use Kyriba to connect to their banks instead of doing it by themselves, have seen up to 80% reduction in integration time. Learn More about Connectivity-as-a-Service You are welcome to join Kyriba’s upcoming monthly live demo sessions to get an overview of the Kyriba platform. Our treasury experts will show you how Kyriba can help your treasury and finance teams optimize corporate cash and working capital, manage financial risk, and ultimately drive strategic growth and value by activating enterprise-wide liquidity. An on-demand demo session is available here.

Kyriba empowers insurance firms with a scalable payments and connectivity solution to tackle back-office system complexity, lack of workflow unification and increased fraud risk. Insurance companies are traditionally challenged by a high volume of...

Kyriba empowers insurance firms with a scalable payments and connectivity solution to tackle back-office system complexity, lack of workflow unification and increased fraud risk. Insurance companies are traditionally challenged by a high volume of payment activities and complex liquidity pooling structures. Such complexity becomes more challenging over time when the business expands with international or domestic mergers and acquisitions. Despite it (including claims and accounts payable) being such a business-critical process, payment processing remains inefficient, often due to siloed and obsolete home-grown back-office systems. Imagine a Typical Payment Scenario of an Insurance Firm A request is initiated in System A It is sent to System B for review and approval Next, it is sent to System C to be further processed Finally, it is uploaded to a banking portal to be executed Payment confirmation and bank statements are to be downloaded and manually transferred to multiple systems of record Multiply that scenario by thousands of payments on a daily basis, insurance companies find themselves in some of the following situations due to a lack of end-to-end automation and visibility: Outdated back-office systems requiring extensive and costly IT support Unavoidable errors and oversights Potential money loss from undiscovered duplicate payments Increased operational risks due to potential fraud and non-compliance Lack of unified cash and account visibility with high bank fees Missed cost-saving opportunities due to reliance on wires instead of lower-cost payment services Missed yield-generating opportunities from idle cash Unable to leverage faster payment rails (e.g., RTP®) or other nascent payment methods (e.g., Zelle) to support customers’ evolving business needs Kyriba’s Answer to Your Challenges Kyriba is the preferred solution provider by some of the largest insurance companies in the United States, including AIG, MetLife and Brighthouse Financial. Kyriba has designed a modern solution with the features insurance companies require to address their growing business needs. SOLUTION PRODUCT FEATURES HIGHLIGHTS Payment Factory One centralized payments hub to manage workflows across all your back-office systems End-to-end integration with all your banking partners Straight-through processing, fraud detection (AI-powered), smart routing Bank API and real-time payments ready Bank Connectivity-as-a-Service Over 1,000 pre-built bank connectors, eliminating the need for IT to build, test or maintain bank connections A format library with over 45,000 payment scenarios ready for use API-Ready System Integration Kyriba Developer Portal with API catalogue and use cases Pre-built ERP and other real-time connectors Curated Marketplace Apps, e.g., ICD for investment, Copper for digital assets Cash Visibility and Mobility Bank account management (BAM), bank fee analysis, in-house bank/netting Cash forecasting with AI capability Interactive business intelligence dashboards A Future-proof Solution Kyriba’s awarding winning solution centralizes payment workflows, automates manual tasks, enhances controls, and connects back-office systems to banks to create real-time cash visibility. To learn more, please contact us or request a demo. Our experts are ready to show you how Kyriba's solution is the right one for insurance firms.

This episode features an interview with Ravi Narula, Chief Financial Officer of FinancialForce.

*Accepting cookies will allow the podcast player to be displayed. A CFO's Guide to Building Business Goals, Relationships, and Managing Risk This episode features an interview with Ravi Narula, Chief Financial Officer of FinancialForce, a cloud-based applications platform that accelerates business growth with customer-centric ERP, Professional Services Automation (PSA), and Customer Success solutions. Ravi has over 20 years of CFO experience, and he's helped turn several technology startups into large, mature, public companies. On this episode, Ravi describes the growing role of the CFO, company risk management, and the future of AI technology.   Editor's Note Our guest, Ravi Narula describes the growing strategic role of the CFO, how to be a better business partner to his peers, how he tackles risk management, and the future of AI technology, especially during today’s volatile economic times. Ravi’s growth mindset is simple: connect actions to goals. “Having a clear line of sight to what our long-term goals are and then connecting our short term actions to long-term goals becomes very critical,” he said. Ravi sees the value of technology adoption as a critical enabler to his finance team, and reveals the rigor behind technology investments. It’s not just about showing the value at the time of purchase, it’s also having a clear business case and roadmap to show ROI across multiple milestones for the business in the future. Ravi said, “How do we justify technology adoption and get some real hard ROI and benefits out of it? It's important that we connect some of these actions and data we get. And not only at the time of decision making, but after implementation. [We should] do an annual assessment [to look at] what can we do differently to adopt this thing even more? And not only looking at technology that is live. How many users are using it? How well accepted within the organization?” Ravi has over 20 years of CFO experience, and he’s helped turn several technology startups into large, mature, public companies. On this episode, Ravi describes the growing role of the CFO, company risk management, and the future of AI technology. This CFO podcast is an excellent guide for finance leaders and CFOs who embrace thought leadership from their peers, and who are looking for examples of how others CFOs are managing risk, driving growth, navigating the complex and expanding role of the CFO.

Kyriba is pleased to offer Platinum Support for our Treasury, Payments and Supply Chain Finance clients in need of our most advanced level of support, designed for companies that require a more tailored approach...

Kyriba is pleased to offer Platinum Support for our Treasury, Payments and Supply Chain Finance clients in need of our most advanced level of support, designed for companies that require a more tailored approach based on size, complexity and geographical footprint. Kyriba Platinum Support offers everything clients can expect from a platinum service package, including access to our Client Support Portal, a designated support account manager (SAM), monthly review meetings, and access to Kyriba’s global support centers with support provided in multiple languages. In addition, a selection of highly tailored services are offered, including dedicated advanced monitoring, functional assistance and user training, twice-a-year onsite visits, and a yearly Platform Utilization Study (PLUS) session. Enhanced Support And Case Management Kyriba Platinum Support subscribers benefit from a designated Support Account Manager (SAM), an experienced and highly-trained resource with advanced knowledge of the Kyriba application and the client’s individual Kyriba environment and processes. Every SAM provides: • A higher level of proactive monitoring of their environment, including the Kyriba platform and the delivery of bank statements and payments • Monitoring and proactive management of all support requests, coordinating case escalations to ensure the quickest possible resolution (cases are simultaneously submitted to the SAM and Kyriba’s general support queue for fastest possible resolution) • Comprehensive KPI reports and a yearly overview of new features and enhancements Dedicated Advanced Monitoring Kyriba Platinum Support provides subscribers an invaluable service for companies wishing to outsource their monitoring functions and optimize internal resources. Dedicated Advanced Monitoring includes: • Monitoring the delivery of bank statements, bank connection status and cash balance variances • Payment monitoring to ensure that payments are sent and processed successfully by the banks • Customized Inbound and Outbound file monitoring from/to ERPs (payments, currency exchange rates, etc.) • Personalized monitoring schedule, adapted for each organization, providing proactive alerts each time a potential issue is detected, with comprehensive investigation and recommended resolutions Functional Assistance / User Training Platinum support comes with up to eight hours a month of functional assistance and/or user training, making this package particularly valuable for companies that regularly add new users. Options include: • training sessions delivered via conference sharing • same-day training for high-priority issues • consultation via setup assistance and process documentation • optimization of existing functionalities or module Bank Calls When facing issues with bank statements, Kyriba Platinum Support will call the banks on behalf of the clients and accelerate resolution (subject to thirdparty agreements). Onsite Visits Platinum support includes two onsite visits per year. These include a recap meeting and discussions of any changes required. Platform Utilization Study (PLUS): Kyriba Platinum Support includes an annual PLUS session to address your organization’s evolving structure and needs. Kyriba product experts analyzes the company’s existing configuration and provide specific recommendations to create additional workflow efficiencies. The PLUS session includes: • Preliminary Q&A conference call • Onsite meeting to examine current use case and any associated pain points, noting touch points with other departments and systems • Detailed reporting of with findings and recommendations Why Kyriba Platinum Support? Kyriba Platinum Support addresses the specific needs of companies using Kyriba for our award-winningTreasury, Payments and Supply Chain Financing solutions, and looking for a more tailored support package, from customized monitoring and user training to an in-depth evaluation of the existing configuration: • Obtain tailored support to suit the company’s specific requirements • Outsource monitoring functions and optimize internal resources • Access functional assistance and/or user training, ensuring that new users are fully equipped to use Kyriba effectively • Benefit from recap meetings and personalized presentation of new release notes • Receive annual recommendations to improve the existing configuration and increase workflow efficiency

Wednesday, November 30 | 9:00am PST | 12:00pm EST | 2022 and forecasts for 2023 reflect continued, pervasive threats to profitability and overall financial performance. The effects of higher prices, rising operating costs and...

Wednesday, November 30 | 9:00am PST | 12:00pm EST | 2022 and forecasts for 2023 reflect continued, pervasive threats to profitability and overall financial performance. The effects of higher prices, rising operating costs and FX volatility are impacting profits and the financial health of companies of all sizes and industries. Finance leaders need insights and confidence in developing mid and longer term forecasts that are more accurate, allow greater collaboration, and more flexible scenario analysis. Join Kyriba’s Thomas Gavaghan for a demonstration of Kyriba’s new, revolutionary Liquidity Forecasting solution.

Nearly every company doing business beyond its own borders faces the challenge of cost-effectively managing currency risk, and each year corporations incur billions of dollars in currency-related losses due to volatility. In many cases,...

Nearly every company doing business beyond its own borders faces the challenge of cost-effectively managing currency risk, and each year corporations incur billions of dollars in currency-related losses due to volatility. In many cases, these losses are attributable to manual, spreadsheet-based currency risk management programs and processes. Regardless of the sophistication or complexity of an organization, every corporation can benefit from automated FX risk management.

Kyriba’s Currency Impact Report (CIR), a comprehensive quarterly report which details the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe with at least 15 percent of their revenue coming from overseas, sustained $49.09 billion in total impacts to earnings from currency volatility.

A Quarterly Report Assessing the Impact of Foreign Exchange to North American and European Corporate Earnings About the Report The October 2022 Kyriba Currency Impact Report analyzes the reported effects of currencies to North American and European companies’ earnings during the second quarter of 2022. To obtain this information, Kyriba analyzed the earnings calls of 1,200 publicly traded North American and European companies as part of a continued effort to provide insight into how foreign exchange impacts organizations. The companies included in this data set are large multinational firms doing business in more than one currency with at least 15% of their revenue coming from overseas.

This episode features an interview with Manish Sarin, CFO at Sprinklr.

*Accepting cookies will allow the podcast player to be displayed. The Holy Grail of Finance: Real Time Data, Sustainable Growth and a Solid Bottom Line Manish brings to the table more than 20 years working with high-growth technology and cybersecurity companies. Previously, he was CFO at Exabeam, EVP of Finance at ProofPoint, and led Software Strategy and Corporate Development at Hewlett-Packard. On this episode, Manish talks about collecting unstructured data from Twitter, Facebook and Reddit to grasp the public narrative around Sprinklr, using AI to predict what will happen in the quarter, and achieving the holy grail of finance, of real time data, sustainable growth, and a solid bottom line.

As market volatility and economic uncertainty continue, corporate treasurers are forced to write a new playbook for 2022 and beyond. Strong currency headwinds, continued interest rate increases, unabating inflation, a highly mobile labor market,...

As market volatility and economic uncertainty continue, corporate treasurers are forced to write a new playbook for 2022 and beyond. Strong currency headwinds, continued interest rate increases, unabating inflation, a highly mobile labor market, and the threat of supply chain disruptions are driving an unprecedented set of risk scenarios for treasury teams to manage.

This episode features an interview with Nitesh Sharan, CFO at SoundHound.

*Accepting cookies will allow the podcast player to be displayed. How to Design a Growth Narrative with AI, Technology and Talent This episode features an interview with Nitesh Sharan, CFO at SoundHound. Soundhound is the innovator in voice-enabled AI and conversational intelligence technologies. Nitesh has over 25 years of experience in financial leadership roles. He spent nearly 15 of those at Hewlett Packard where he rose to be Vice President and Assistant Treasurer. And prior to Soundhound, Nitesh served as Nike’s CFO of Global Operations and Technology. On this episode, Nitesh discusses the preparation for going public during the pandemic, how to protect your company’s finances during uncertain times, and how conversational voice AI will play a transformative role in everything from education to the food industry and more.

Clear Need for Better Control over FX Exposures and Fees Wahl Clipper saw the opportunity to expand the value of their Microsoft Dynamics 365 ERP investment by integrating with Kyriba to support more complex...

Clear Need for Better Control over FX Exposures and Fees Wahl Clipper saw the opportunity to expand the value of their Microsoft Dynamics 365 ERP investment by integrating with Kyriba to support more complex treasury functions. With the guidance and help of RSM US, Wahl implemented Kyriba and 360T’s FX trading solutions to provide critical insight into FX spreads and trades. “Using Kyriba’s BCaaS allowed Wahl to consolidate global cash visibility into a single platform and gain control of regional cash balances previously unavailable. This provided the backbone for implementing Wahl’s physical cash settlement processing for their multilateral netting centers.”Logan Wacker, Director of RSM US “Centralizing FX at HQ has allowed us to get improved spread compression and leverage larger, fewer FX trades. The former decentralized process did not provide cost transparency resulting in additional spread, time, and other costs equating to a very inefficient process.”Director of Treasury and FP&A, Wahl Clipper Multiple Goals Increased Efficiency: Provide structure and automation to lessen time spent on manual tasks, leaving more time for strategic work. Accelerated Netting: Automate multilateral netting to reduce disconnected FX settlement processes and deliver significant visibility gains to management. Robust Controls: Strict roles and responsibilities, segregation of duties, and IT general controls to reduce errors and fraud. Lower Processing Costs: Centralizing the buying/selling of currency globally reduces trade execution price and bank fees and consolidates FX exposure reporting into a single platform. “It’s like going from a horse and carriage to a rocket ship. The key is getting buy-in. We took baby steps, and the more management sees it working, the more they are willing to scale.”Director of Treasury and FP&A, Wahl Clipper   The Solution Multilateral Netting and Treasury Automation With multilateral netting in place, Wahl business units have agreements with other business units that allow for intercompany transactions. Once these transactions are booked and exist within a regional ERP application, that’s when the netting process begins with Kyriba. On a mid-month basis, intercompany payables and receivables are collected from each business unit and matched and settled, and disputes are resolved. It is then reported - exactly what is needed to buy, exactly what is needed to sell, and what the overall currency needs are across the globe for those participants. “The visibility that Kyriba provides senior management at Wahl for making decisions on our global cash position is phenomenal. Each sub updates their cash forecast via Kyriba on a weekly basis. HQ can make timely decisions to accelerate collections, delay disbursements, and better manage cash as a corporate resource.” What’s New at Wahl Clipper Cash Forecasting Fall 2022: Launched a 13 week global rolling cash forecast through Kyriba. The data is made available from Kyriba into PowerBI, which is used by Wahl Headquarters to make strategic decisions on balances, collections and disbursements. About Wahl Clipper A world leader in professional and personal hair clipping products, Wahl does business in 165 countries and operates six manufacturing facilities and 11 sales offices around the world.

Wednesday, November 9nd | 9:00am PT | 12:00pm ET | FX volatility has hit major global currencies, rather than just a handful of emerging markets, which is resulting in the largest magnitude of FX...

Wednesday, November 9nd | 9:00am PT | 12:00pm ET | FX volatility has hit major global currencies, rather than just a handful of emerging markets, which is resulting in the largest magnitude of FX related headwinds ever seen since global FX impact data has been tracked.

“As a health IT company, we go through extreme efforts to be in compliance and protected. Upgrading and maintaining our own SWIFT BIC would be a continuous drain on IT resources, and our executives...

“As a health IT company, we go through extreme efforts to be in compliance and protected. Upgrading and maintaining our own SWIFT BIC would be a continuous drain on IT resources, and our executives quickly approved the Kyriba solution.” Leonard Nick, Assistant Treasurer Out of Compliance and Running Out of Time Cerner’s Treasury built an in-house, custom solution to manage the company’s large data volumes, and they implemented SWIFT Alliance Lite2 to support all bank communications, including prior and current-day bank statements, payroll, and vendor/expense payments. Late in 2021, Cerner Treasury uncovered that their IT infrastructure was out of compliance with SWIFT’s Customer Security Control framework. Financial systems were at risk, with the large M&A deal with Oracle, Cerner Treasury needed a reliable and efficient solution to move global payments. Key Challenges Immediate and urgent need to comply with SWIFT standards and reduce reputational risk and threats of financial impact and loss; costs of maintaining SWIFT AL2 would drain IT resources 410 hours per year on maintenance, token management and the lengthy certificate renewal process $4B Payments bottleneck with a lack of a scalable, payments hub for the extensive network of partner banks Limited capabilities for enhanced bank reporting and accelerated visibility to cash Highly manual and redundant tasks with more costly operations, creating potential challenges to M&A activities, Day 1 readiness, and the Oracle acquisition closing Solution Migrate to Kyriba Service Bureau & Transform Treasury’s Role The Cerner SWIFT BIC was migrated to the Kyriba Service Bureau, and the Cerner Treasury team focused on creating a unified Treasury and Finance Liquidity reporting environment with: Faster bank connectivity through Open APIs. A Payments 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 / Kyriba automation facilitates bank communication via the Service Bureau while having the full SWIFT BIC functionality option to expand to additional bank transactions, vendor and client real-time secure communication. In this new, fully connected environment, full SWIFT Alliance Lite2 and continuous automation is still available and not sacrificed while data flows from ERP, Payroll, HR and Treasury solutions. All integration points established with Cerner’s ERP are still in place, facilitating the current payment automation and new investment capabilities. Productivity Gains of 930 Hours and ROI Payback in less than 9 Months Positive business outcomes expected from this project: Protected and continued $4B/350k in annual payments value/volume with capacity to grow Protect free cash flows and low operational costs, key to Oracle acquisition 5 year ROI and IRR is 31.9% and 70.3% respectively, payback in less than 9 months 930 IT hours saved annually (410 hours of SWIFT AL2 maintenance, 520 hours of bank connectivity maintenance) About Oracle Cerner For 40+ years, Cerner, a leading Electronic Health Record platform, worked at the intersection of healthcare and information technology to connect people and systems around the world, using the latest technology to create solutions that let communities and people engage in their own health. In June of 2022, Oracle acquired Cerner for $28B to further couple technology and healthcare innovation.

Global Economic and Geo-Political uncertainty brings new risks to business continuity. We can qualify by known risks and unknown risk. There is no task more challenging than planning for the unknown. Business continuity can...

Global Economic and Geo-Political uncertainty brings new risks to business continuity. We can qualify by known risks and unknown risk. There is no task more challenging than planning for the unknown. Business continuity can be impacted by several challenges from personnel to cash-flow and credit worthiness. As finance professionals, being able to measure the risk can help strengthen your scenarios as you navigate through uncertainty.

Discover new technology solutions and strategies designed to help you be more cash-smart. Given the growing enterprise exposure to inflation and potential recession, rising interest rates, and skyrocketing currency volatility and hedging costs, CFOs...

Discover new technology solutions and strategies designed to help you be more cash-smart. Given the growing enterprise exposure to inflation and potential recession, rising interest rates, and skyrocketing currency volatility and hedging costs, CFOs and their treasury teams are rethinking strategies to optimize their finances. And treasurers in particular are experiencing new challenges when it comes to managing cash and liquidity as once again ‘Cash is King’.

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.

After the announced divestiture, Exelon and Constellation Energy each required a modernized Treasury Management System to run their businesses autonomously, reduce cost and transform operations.

After the announced divestiture, Exelon and Constellation Energy each required a modernized Treasury Management System to run their businesses autonomously, reduce cost and transform operations.

“With ICD and Kyriba bringing real-time treasury to the next level, our organization is able to make investment decisions based on up-to-date account data, fund availability and market data. From one platform we can...

“With ICD and Kyriba bringing real-time treasury to the next level, our organization is able to make investment decisions based on up-to-date account data, fund availability and market data. From one platform we can then complete fund transfer to any accounts, creating efficiency like never before.” David Miller Treasurer & SVP, Hunt Companies Constantly challenged with new data and reporting requirements to support the business, treasury organizations are turning to modern technologies for greater visibility, accuracy, and speed. By leveraging Kyriba’s API, ICD creates a seamless, end-to-end workflow for clients to gain control over their liquidity management and investment processes. Key Challenges to Treasury Multiple platforms and logins to manage investments Lack of unified view of cash positions Separate reporting and analysis based on unsynchronized data Operational risks from manual trade and payment processes Manual processes to fix issues Benefits of Real-time Treasury SSO connectivity from Kyriba’s workflow map as part of treasurer’s day to day Enhanced decision making with real time data Automated trade settlement to reduce manual processes Reduced operational and financial risks through process automation Daily automated sweeps to maximize return on surplus cash ICD is treasury’s trusted, independent portal provider of money market funds and other short-term Investments. Its exceptional service and intuitive technology makes it easy for organizations to access and participate in the money markets. “Ensuring efficiency, security and streamlined workflows have been the cornerstone of ICD’s commitment to our clients. With single sign-on and deep integration with Kyriba, our joint clients limit risk and add efficiencies to their cash and liquidity management processes.” Sebastian Ramos EVP, Global Trading and Products, ICD To find out more, visit here to learn more about the ICD and Kyriba integration. Lastest update: Hunt Companies was recognized in December 2022 with a 2023 Alexander Hamilton Award for liquidity management, using ICD Portal for its short-term investments, and the ICD and Kyriba API integration for real-time visibility into liquidity.

Kyriba’s clients in the oil and natural gas industries range from production equipment manufacturing, exploration, and extraction to pipeline transportation. We help these companies through our industry expertise and leading solutions. While no two...

Kyriba’s clients in the oil and natural gas industries range from production equipment manufacturing, exploration, and extraction to pipeline transportation. We help these companies through our industry expertise and leading solutions. While no two companies are the same, many of our clients in the sector share many common treasury and finance requirements. Kyriba provides the capabilities to effectively manage liquidity, debt, investment, cash, payments, and FX risk, enabling executives to make more informed decisions. Enterprise Liquidity Oil and gas companies need comprehensive views of their liquidity. Kyriba enables clients to achieve 100% cash visibility and reduce reliance on borrowing, transforming liquidity into a strategic asset. Managing Multiple Entities Kyriba’s oil and gas clients commonly have multiple subsidiaries and business lines across the globe, often in emerging markets with limited banking infrastructure. This drives cash pooling, netting, in-house banking, and intercompany requirements. Kyriba fully supports multi-entity businesses, offering a host of services for parent and subsidiary treasury management. Our clients seamlessly connect automatically to their relationship banks, ERPs, and other systems, eliminating file uploads and manually-generated reporting and reconciliations. Cash Flow Forecasting Increasing cash forecasting horizons and improving accuracy is a key requirement in the oil and gas sector. With typically tight profit margins and volatility across many areas, minimizing idle cash and getting the surplus invested or available has become increasingly important. Kyriba consolidates forecast data and measures forecast accuracy to increase confidence in your cash projections. FX Risk Management Operating in many different countries means handling many currencies. Kyriba’s FX Risk Management, creates confidence in expanding identification and aggregation of FX exposures and risk mitigation capabilities to manage impacts to earnings. Kyriba gives support to a full end-to-end solution for exposures, trading and post-trade activities. Global Payments Commanding so many operations also places a heavy burden on oil and gas treasury departments in terms of payments. Kyriba’s Payments Hub manages AP and AR payments, while maintaining robust format transformation for communication with banks and other institutions. Debt and Interest Rate Hedging Higher debt loads are common in the industry. With interest rates on the rise, treasury teams must enable effective interest rate hedging programs. Kyriba supports debt and interest rate derivative position keeping, automates mark to market, and delivers regulatory compliance including hedge accounting support. Efficiency and Productivity As with other industries, CFOs and treasurers in oil and gas are focused on improving the efficiency and productivity of the treasury function. From optimizing bank accounts, to bank relationship management, and through automation of manual tasks to improve operational controls, Kyriba delivers productivity to the financial team, enabling less time spent on treasury and more time allocated to business intelligence and strategic insight.

Kyriba clients and Liquidity Excellence Award winners tell all, and it is clear: Organizations around the world have experienced a revolutionary transformation with Kyriba, constantly evolving and modernizing treasury processes and systems. And we...

Kyriba clients and Liquidity Excellence Award winners tell all, and it is clear: Organizations around the world have experienced a revolutionary transformation with Kyriba, constantly evolving and modernizing treasury processes and systems. And we are not close to being done.

For companies with complex funding, procurement, FX, or cash and liquidity management activities, managing these without technology is challenging to say the least. Kyriba’s In-House Banking (IHB) platform gives organizations the control to create...

For companies with complex funding, procurement, FX, or cash and liquidity management activities, managing these without technology is challenging to say the least. Kyriba’s In-House Banking (IHB) platform gives organizations the control to create optimal concentration, pooling, intercompany, and netting arrangements to access more liquidity faster and more cost-effectively. With Kyriba’ IHB capabilities, you are able to provide internal banking services to all your business units. Our flexible data structure allows you to customize your accounts, entities, structures, and workflows based on your business needs. We give our clients efficient cash concentration, cash pooling with support for multi-currency pools, regulated and non-regulated structures, and multi-tier netting hierarchies. IHB Features and Benefits Kyriba allows you to increase cash visibility and control with a full-featured In-House Banking module that creates greater access to cash pools and reduces costs overall in the procurement and receivables cycles. Our clients transition from point-in-time and end-of-month balances to real-time visibility into liquidity. This allows for better forecasting and more informed decision-making. Our IHB solution delivers efficiency through reductions in physical bank accounts and consolidated reporting across regional treasury or finance transactional centers. Whether your pooling or cash concentration is managed directly by the bank or in-house, Kyriba’s application automatically posts and tracks IHB movements from physical and notional pooling structures. Key features include: Pooling and Concentration Our capabilities increase visibility and benefits of centralized cash in real-time, creating a streamlined, efficient dashboard with views into all your global cash. IHB transactions are created from cash or non-cash transactions. POBO (payments-on-behalf-of) Arrangements The IHB executes makes payments for operating companies and debits to those companies’ intercompany accounts. ROBO (receipt-on-behalf-of) Arrangements The IHB’s bank account receives payments for operating companies and credits to their intercompany accounts. Real-time Reporting and Tracking View all IHB balances by subsidiary and currency pair, when applicable. Affiliates can inquire on their internal and external balances, account and interest statements, and internal deals.

You're invited to attend How Can Companies Prepare for Economic Volatility?, a free webinar hosted by the Financial Times, in partnership with Kyriba. This virtual panel will bring together the following business leaders and...

You're invited to attend How Can Companies Prepare for Economic Volatility?, a free webinar hosted by the Financial Times, in partnership with Kyriba. This virtual panel will bring together the following business leaders and speakers to explore how companies can reduce exposure, optimise financial operations, and utilise technology to prepare for a potential recession: Lena Komileva, Chief Economist and Managing Director, (g+)economics Lorne Vary, Chief Financial and Business Development Officer, Brompton Bicycles Ltd Samuel Guillon, Senior Vice President, Strategy, Kyriba Moderated by the Financial Times' US Investment and Industry Editor, Brooke Masters, our panel of experts will discuss the following topics: What are the biggest concerns for businesses regarding today’s challenging economic outlook? What can corporate finance professionals learn from these challenges? Why is it critical for companies to better manage their liquidity flows across their ecosystems? How can this be achieved? How has the role of the Chief Financial Officer (CFO) and treasurer changed in recent years? How can they help to better manage enterprise liquidity flows? How do they anticipate their role developing in light of the economic uncertainty ahead? How are companies leveraging new technologies to enhance their financial performance and navigate regulatory changes? More details on the programme can be found at www.economic-volatility.live.ft.com. This webinar is free to attend.

Kyriba delivers the industry’s most advanced currency risk management solutions with extensive business intelligence capabilities for easy identification and understanding of foreign exchange (FX) risk.

Delivering on-demand interactivity with Oracle applications, Kyriba for Oracle is a cloud-based solution that reduces the risk of foreign currency volatility to earnings per share and corporate value.

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. Kyriba supports market data integration from within the solution or from outside sources. 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.   Learn more about Kyriba's solutions for commodities, valuation, and hedging. REQUEST A DEMO

This episode features an interview with David Quinn, CFO at BlueVine.

*Accepting cookies will allow the podcast player to be displayed. Untrap Your Liquidity Through Data and Technology This episode features an interview with David Quinn, CFO at BlueVine. BlueVine provides small and medium-sized business owners with the working capital they need to run and grow their businesses. David has more than 25 years of global experience in banking and finance. Prior to BlueVine, David served as Commercial Bank Chief Financial Officer at Silicon Valley Bank. He also served as Executive Vice President and Consumer Bank Chief Financial Officer at Bank of the West. David has held senior leadership positions at Citibank, Morgan Stanley, and Lehman Brothers in the UK. On this episode, David discusses modernizing your technology to work for you, the benefits of using third party software instead of building in-house, and making your business unattractive to fraudsters.

In the current environment of rising interest rates and inflation, treasurers are increasingly focused on cost reduction. Learn how Walker & Dunlop reduced payment costs and improved productivity through their payment hub. Get first-hand...

In the current environment of rising interest rates and inflation, treasurers are increasingly focused on cost reduction. Learn how Walker & Dunlop reduced payment costs and improved productivity through their payment hub. Get first-hand tips from Walker & Dunlop who figured out how to maximize the benefits of the payment hub and rapidly implement a solution with minimal disruption to legacy payment infrastructure. 3PO Consulting will also offer strategies that will help you design and optimize a payment hub to channel payments through a single point of access with all partners from initial design to go live sign-off.

Kyriba’s FX Advisory Services delivers customized solutions to implement and optimize global FX risk management programs. From execution to accounting, FX risk management is a complex, ever-shifting responsibility, which is difficult for organizations to...

Kyriba’s FX Advisory Services delivers customized solutions to implement and optimize global FX risk management programs. From execution to accounting, FX risk management is a complex, ever-shifting responsibility, which is difficult for organizations to fully staff the necessary level of in-house expertise. Lack of FX business intelligence leads to costly mistakes due to currency and market volatility. Whether your company has been hedging foreign currency risks for decades, or feeling material impacts from FX volatility for the first time, Kyriba’s FX Risk Advisory Services will design the best path forward to create, or revitalize your FX risk management program. We can serve as an extension of your team or take the lead managing projects. FX Advisory Services Differentiating Benefits Broad Based FX Expertise Kyriba’s FX team carries a wide range of experience with backgrounds in corporate treasury, FX risk software, financial institutions & traders, and public accounting firms. We will bring our breadth of experiences to you. Large and Diverse Client Kyriba Base Kyriba’s growth and diverse client base ensures that the FX Advisory Services team is continuously learning. We get exposed to and have a hand in developing best practices in the market. Bridge Between Treasury & Accounting We have backgrounds focused on treasury and accounting and will find solutions that delivers the economics for treasury while ensuring accounting is cared for with efficient processes, accurate entries, and compliance. Project Management Approach We will drive projects from start to finish, keeping key milestones on track. Flexible Solutions Every company has unique challenges and circumstances, along with endless variables in the world of FX. We strive to find a customized best-fit solution for all clients and will not box companies into a one-size fits all recommendation. Detail Focused The devil is in the details when it comes to FX transactional risk and derivative accounting. We advise clients on designing processes that yield the most effective results, which requires digging in deep from multiple angles. FX ADVISORY SERVICES MATRIX FX RISK ADVISORY SERVICES DESCRIPTION OF SERVICES & ACTIVITIES REPRESENTATIVE DELIVERABLES FX Strategy Discovery Sessions Working sessions led by FX Advisory to conduct deep dives into current hedge objectives, risks, and hedging strategies to consider. Kyriba develops summary reports and roadmaps of suggested next steps and opportunities for optimization: • Recommendations report • FX Risk Management Roadmap and Strategic Plan FX Risk/Exposure Analysis Deep assessment and analysis on risk and exposures. Kyriba Advisory Services aggregates exposure data, validates data, quantitatively analyzes risk, assesses key timing aspects of transactional exposures, and discusses opportunities for natural or operational hedging. Management presentation summarizing FX risks, which includes: • Summary of independent and aggregated exposure positions • Detailed overview of key risks and timing • Quantitative analytics on FX risks • Identified natural or operational netting/hedging opportunities FX Hedge Program Implementation Services The Hedge Program Implementation package gives Kyriba clients the expertise and support required to start a new hedge program from scratch. Kyriba Advisory Services is an extension of your team to identify risks, develop the most appropriate risk management objectives and design a custom hedge program. Designed hedge strategies are prepared to go-live with: • Draft FX Risk Management Policy (operational policy) • FX Hedging Procedures Document • Summary document of hedge strategies • Draft Hedge Accounting Policy • Draft designation documentation and quantitative effectiveness assessments FX Program Review & Revitalization Kyriba Advisory Services designs customized work plans, tailored to review existing policies and practices, and diagnose issues. Clients will be left with insight to what is driving ineffectiveness in their hedge program and actionable ideas to make improvements. Variable, and customized for each engagement. Commonly involving a scorecard analysis of existing processes with go forward recommendations. Custom Consulting Commonly used to review client/existing hedge programs, review functional currency determination, review rate setting methodology, conduct peer analysis, M&A due diligence and integration. Confirmations/recommendations of reviewed processes. Can have customized deliverables agreed upon with client/prospect. Examples include: • FX hedging strategy design and blueprinting, policies and procedures, hedge documentation, disclosure review • Analysis of functional currency, FX exposures, hedge results • Review of underlying FX transaction accounting • Effectiveness testing guidance and setup • M&A due diligence and hedge strategy integration • Benchmarking of FX hedging approaches or results Learn how to transform FX Risk Management processes to deliver more predictable and effective results with Kyriba’s leading FX Risk Management solution and our FX Advisory Team today. Reach out to our team of FX Risk Management professionals at: [email protected]

Adobe is experiencing substantial growth with a goal of creating a world-class treasury organization and to build a platform that would sustain it throughout the next decade. “This was a very open-minded collaboration where...

Adobe is experiencing substantial growth with a goal of creating a world-class treasury organization and to build a platform that would sustain it throughout the next decade. “This was a very open-minded collaboration where we said, ‛let’s not think about what we have been doing for the past 15 years, but let’s think about what is absolutely needed and how can we design it to be the best system.’” Susan ChanDirector of Treasury Operations for Adobe Key Challenges Before Kyriba With no TMS in place, Adobe managed Treasury —$5.5B in cash through 138 bank accounts —through spreadsheets 125 global users manually logging into 10+ banking portals daily Digital and hard token logins created a heavy administrative and security burden Reporting entailed downloads in varied formats and manual customized reporting Treasury Transformation Objectives One-stop shop for all banking activities with a full cash and liquidity view Centralized payments platform fully integrated into ERP (SAP) Scalable solution that is able to absorb new businesses and scope Secure system that provides full audit trails “We embarked on a journey to look for a TMS, and we ended up selecting Kyriba because it met our requirements… and it has a user-friendly UI, as well as a robust product roadmap. Having one, centralized system for everyone—for all the bank accounts especially—is quite a dream.” Susan ChanDirector of Treasury Operations for Adobe Adobe Treasury Wins with Kyriba Positive Business Outcomes 12 Functional Teams at Adobe Engaged Throughout the Project Liquidity Management Retired Accelerate workbook and automated daily management reports Created a consolidated view for 100% visibility into global cash and liquidity Eliminated manual tracking and settlement process of investments and debts Automated Intercompany funding process for time saving and enhanced control 180 bank and investment account balances integrated ICD Integration for money market trades and settlements details SAP integration for daily FX and AP forecasting Payments Achieved payment processing via one system Real-time fraud detection applied to payments processed in Kyriba 5 banks connected for a secure, automated process for ad-hoc payments Ad-hoc wire requests routed from ServiceNow ticketing workflow 300+ payment scenarios globally tested and live 50 SSIs and 116 repetitive payment templates maintained Accounting Reduced risk of errors by replacing most of BOT and wire forms with Kyriba daily GL export Increased number of accounts reconciled through Blackline integration, with bank statement forwarding from Kyriba Centralized and streamlined the process for Treasury transactions accounting entries Month-end accounting entries for investment and debt are auto-generated and sent to SAP Bank Account Management 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

ELM is one of the most critical areas for any organization. It spans Cash & Liquidity Management, Capital Markets & Risk Management, Payments & Fraud, and Working Capital, all of which are paramount to organizational vitality.

ELM is one of the most critical areas for any organization. It spans Cash & Liquidity Management, Capital Markets & Risk Management, Payments & Fraud, and Working Capital, all of which are paramount to organizational vitality. As such, and given the mounting uncertainty, rising inflation, global pandemics, and geo-political instability, it should be benchmarked regularly. Initiating a comprehensive and rigorous liquidity benchmarking evaluation would not only help to identify internal gaps, but also, help an organization garner and adopt industry best practices to weather the storm and even thrive. We believe that enabling organizations to objectively take necessary steps to benchmark their performance would improve organizational resilience and boost efforts to drive enhanced competitiveness and value creation.  Gathering the required information from scratch can be a monumental task, especially if there is no benchmarking foundation, established methodologies, long data history and peer comparison groups across both leading and lagging indicators.   The dilemma many organizations face is acknowledging the importance of the insights that can be derived from benchmarking yet recognizing the daunting task of building a practice by themselves. This often leads to deferring benchmarking initiatives. To overcome this challenge, organizations partner with liquidity management and industry experts/advisors to perform this critical strategic step.   Here at Kyriba, we made the decision five years ago to build performance benchmarking to support our clients and prospective customers need to assess themselves against peer groups to determine 1- what’s working well, and 2- what needs to be improved upon.   The Kyriba benchmarking database has 1,600 organizations across multiple industries, sectors, revenue sizes and geographies, making it the largest ELM benchmarking repository in the world. The database is also growing at 500 to 600 per year.  With the only dedicated practice around ELM benchmarking, Kyriba uses finance and treasury practitioners and executives to conduct client assessments. Furthermore, to streamline the process and make it efficient, the Kyriba Value Engineering Team uses collaboration tools to collect, validate and refine the data it collects from clients. Client organizations are critical to the success of the program. The Kyriba team collaborates with our clients to identify the right improvement opportunities they need to pursue based on factual empirical data. We use our benchmarking findings as a blueprint for value creation, monitoring, and realization. This full value lifecycle approach allows clients and Kyriba to forge a value-based, outcome-focused partnership.  ABOUT OUR TEAM Kyriba’s Value Engineering team has assisted over 1,600 companies, across all sectors, revenue sizes and geographies, to perform the right process diagnostics, develop iron-clad, board-ready value assessment, and provide risk and threat profiles with implications and mitigation strategies. To conduct this level of analysis, the Kyriba Value Engineering team has recruited the best in the business. Each Value Engineer has over 15 years of field, treasury and finance experience, and hundreds of assessments under her/his belt, and are relentlessly focused on client satisfaction. Each Value Engineer will collaborate with your team to create the compelling case you need to secure the required investment to support your treasury transformation. Should you want to learn more about how Kyriba Value Engineering can help you, please contact the Value Engineering team at [email protected] or your Kyriba Sales representative or visit www.kyriba.com.

Xcel Energy had outdated legacy treasury and reconciliation systems that challenged the organization to keep pace with its regulated electric and natural gas delivery business needs. With Kyriba as the catalyst, Xcel Energy embarked...

Xcel Energy had outdated legacy treasury and reconciliation systems that challenged the organization to keep pace with its regulated electric and natural gas delivery business needs. With Kyriba as the catalyst, Xcel Energy embarked on a full treasury transformation spanning 15 integrations to drive consolidation across three legacy finance systems, dozens of legal entities, and seven user groups.

Digital transformation continues to occupy front and center stage across all areas of finance and banking. The pandemic and geopolitical shocks have amplified the need for real-time insights enabling confidence in financial decisions, especially as they relate to liquidity.

Establishing a Compelling Value Proposition: What, Why and Why Now? Digital transformation continues to occupy front and center stage across all areas of finance and banking. The pandemic and geopolitical shocks have amplified the need for real-time insights enabling confidence in financial decisions, especially as they relate to liquidity. These events have caused companies to adapt their business models, ensure the availability of sufficient liquidity even in the worst-case scenarios and further accelerated existing digital transformation initiatives. Treasury and finance organizations are being called upon to provide more reliable and timely insights in support of executive strategic decisions.  However, for those organizations with existing legacy manual processes and tools providing such real-time insights to executive boards proves quite challenging. We find that organizations across all sectors in the treasury space are looking for digital solutions to help improve the maturity of their processes and elevate treasury to a more prominent role in the organization.   Chief financial officers typically receive requests from multiple departments for project funding. The challenge is that they can only approve a fraction of these projects. Funding is scarce. Projects are approved based on meaningful, measurable, and provable business outcomes.  When building a case for change, Kyriba Value Engineering has identified three best practices to secure funding for any technology-led initiative. Properly articulating the business outcomes and value of a technology investment will structure an appealing and credible value proposition and greatly improve the chances that a project gets approval from the executive team. Here is what we believe to be your must do list: Process Analysis: Understand what processes are working well and what processes offer an opportunity for improvement. Solves for the “What” question. Build a financial business case that will provide a meaningful and actionable return for the enterprise. Takes care of the “Why” question. Perform a Risk Assessment to understand the vulnerabilities and threats from the existing status quo, identify impact and develop mitigation strategies. While this return is hard to quantify, the impact can be very detrimental to an organization. Addresses the “Why Now” question.  The Kyriba Value Engineering team has assisted over 1600 companies, across all sectors, revenue sizes and geographies, to perform the right process diagnostics, develop ironclad, board-ready value assessment, and provide risk and threat profiles with implications and mitigation strategies. To conduct this level of analysis, the Kyriba Value Engineering team has recruited the best in the business. Each Value Engineer has over 15 years of field, treasury and finance experience, and hundreds of assessments under her/his belt, and are relentlessly focuses on client satisfaction. Each Value Engineer will collaborate with your team to create the compelling case you need to secure the required investment to support your treasury transformation.  See Where Your Organization Stands Compared to Industry Leaders GET YOUR ASSESSMENT

Every organization talks about cash forecasting more effectively, but few allocate sufficient people, time and technology to build an effective program. Understanding the importance of an accurate cash forecast that can be relied upon...

Every organization talks about cash forecasting more effectively, but few allocate sufficient people, time and technology to build an effective program. Understanding the importance of an accurate cash forecast that can be relied upon for key financial decisions is critical to making the right investments in forecasting.

Artificial intelligence and machine learning have gradually worked their way into everyday life in treasury and finance. But while some organizations are currently using these technologies, we’ve only scratched the surface of their potential.

Artificial intelligence and machine learning have gradually worked their way into everyday life in treasury and finance. But while some organizations are currently using these technologies, we’ve only scratched the surface of their potential.

Cash flow hedge programs are generally longer term in nature. Positions due to mature were locked months or years ago, and new positions may not impact the P&L for months or years down the road. Despite the longer time horizons, there are still opportunities to make your hedge program more effective when volatility strikes.

Kyriba FX Advisory Brief – Cash Flow Hedging in Volatile Markets Cash flow hedge programs are generally longer term in nature. Positions due to mature were locked months or years ago, and new positions may not impact the P&L for months or years down the road. Despite the longer time horizons, there are still opportunities to make your hedge program more effective when volatility strikes. Kyriba Cash Flow Hedging Best Practices Cash Flow Program Action Focus on Forecasting Improvements Missing hedge targets restricts the program from achieving stated objectives and targeted effectiveness, even if positions are underhedged and not at risk of losing hedge accounting treatment. Forecast inaccuracy does not directly show in FX Gain/Loss like with balance sheet hedging, but that does not mean it should be overlooked. Treat forecasting with the same rigor as balance sheet hedging. Track variances and work to perfect forecasting. Improve forecasting processes and standards, so that hedge targets are more consistently achieved. The hedge program was established to provide economic protection in a specific way, and this benefit cannot be delivered with poor forecasting. Revisit OCI Timing and Allocation Assumptions The high-level objective of all cash flow hedge programs is to align hedge results with the same P&L timing and GL geography as the underlying exposure. Many practical expedients are made to ease the administration of this. During less volatile times, a company can live with looser assumptions, but these mismatches can get amplified in volatile markets.Release and allocate hedge results more precisely by analyzing data monthly rather than quarterly or annually. Hedge results will then more effectively align with the intended protection of the documented hedged item and assist all business segments. This will improve hitting hedge program objectives. Develop Robust and Clear KPIs Improving a hedge program requires analysis to pinpoint the areas that command the most attention. Consistently meeting hedge program objectives requires establishing performance reporting metrics.Create an objective-based performance reporting package every month and quarter. There are not one size fits all reports. Whether the objective is locking into budget, protecting margin, fixing project expenses, or smoothing rates, there are ways to report hedge results. Once established create feedback channels to make improvements. Incorporate VaR and Cost of Hedging Efficient frontier concepts can be used effectively for balance sheet hedging as a short-term portfolio decision making tool. Cash flow hedging is more nuanced due to the objectives and the P&L timing variances between different transaction types. Analysis suited for nimble repositioning is not always a fit for long term cash flow hedging. But when cost of hedging is high, it can be a good time to use quantitative analysis as a guide to adjust layering strategies. Conduct VaR and Cost of Carry analysis on cash flow forecasts. A thorough analysis helps make intelligent, rather than emotional, decisions outside of the normal routine policy. If cost of hedging certain currencies is unusually high and analysis shows those currencies have natural economic offsets, there could be an opportunity to temporarily shift policy while not exposing the company to exurbanite economic risk. React to Metrics, not Emotions Nobody can predict with certainty where the market is heading. Today may not look like the best time to lock into EUR revenue hedges, but what if you shutter the hedge program doors completely and EUR goes well below parity? It may be time to add flexibility to hedge targets based on quantitative analysis, but overreactions could derail a hedge program and lead to poor long-term decisions.Treasury can steer discussions back to objectives and reduce the emotional or knee jerk reactions that senior management may have in volatile markets. Proactively prepare analysis to support ideas that prudently adjust to market conditions. This prevents the c-suite from making short sighted decisions based entirely on “taking a view” on the markets. In lieu of analysis and thought leadership from Treasury, temporary emotions from the top will completely hijack the program. Kyriba’s FX Advisory team helps multi-national companies optimize hedge programs and evaluate FX risk holistically to complement a full end to end FX Risk Management solution. Reach out today to our FX Advisory team to learn more. Also, visit https://www.kyriba.com/products/risk-management/ to view more on our FX Risk Products or schedule a demo with the team.

Treasury organizations and CFOs have the dual objective of managing risk to an acceptable level while also containing the cost of hedging across their portfolio of currencies. Several best practices stand out that separate the hedge programs that show cracks (or fall apart) under stress, from the best performing hedge programs.

Kyriba FX Advisory Brief – Balance Sheet Hedging in Volatile Markets Treasury organizations and CFOs have the dual objective of managing risk to an acceptable level while also containing the cost of hedging across their portfolio of currencies. Several best practices stand out that separate the hedge programs that show cracks (or fall apart) under stress, from the best performing hedge programs. Kyriba Balance Sheet Hedge Program Best Practices Balance Sheet Program Activity Automate Exposure Capture with Dynamic Queries Companies using static queries to capture exposures commonly miss new exposure activity, and only catch it after it becomes a P&L problem. Capture data using automated dynamic queries. If dynamic, any new monetary asset/liability activity in the source data will get reported from the start. Monitor Exposures with Increased Frequency Waiting for month-end actual exposure data just once a month (and usually several days delayed) may not cut it during volatile times, where the market is less forgiving on unhedged and over-hedged positions. Leverage technology to monitor positions daily (especially, but not limited to companies in daily rate ERP environments). Monitor weekly, if daily is not possible. Monthly is not enough. Revisit Hedge Adjustment Thresholds Higher thresholds reduce administrative burdens of a hedge program, but leave more risk exposed. The cost-benefit equation of threshold levels changes during volatile markets and should not be static. FX policies are drafted such that the thresholds express the mandated max level but leave flexibility for discretionary adjustments at lower levels. Adjust levels during volatile periods, or on a per currency basis. Reconcile FX Gain/Loss Remeasurement Reconciliation highlights any exposure visibility issues or underlying transactional accounting issues that may have developed since last time it was thoroughly reviewed. Reconcile remeasurement results daily to monthly and quickly work with accounting on potential issues. Kyriba clients leverage our Daily FX Gain/loss Analytics tool, to accomplish this even in daily rate environments. Analyze Hedge Performance Further analyzes FX Gain/Loss as it pertains to hedge program P&L impacts. Highlighting the key drivers or FX noise, whether that be forecasting issues, execution timing, or cost of hedging.Derive clear explanations of the key drivers to hedge program noise as quickly as possible each month end. Leading companies can pinpoint issues and address them before they repeat themselves in subsequent periods and distribute performance KPI reports. Clean-up Exposures Erroneous material exposure positions on the GL are common. Intercompany balances, incorrect manual JEs and phantom balances can skew exposure reports and remeasurement results.Continuously identify and monitor growing intercompany balances and opportunities to net exposure positions or naturally hedge. All outlier transactions creating FX exposures are understood. Make Cost-Effective Decisions with Portfolio VaR or Aggregation Various levels of sophistication exist to make hedge coverage decisions more efficient and cost effective. Forward point markets are currently costing companies significantly more money than months ago, and this shows in the FX Gain/Loss line.The rising trend is incorporating portfolio VaR with Cost of Carry to make portfolio-based hedge decisions. At a minimum, companies must be capable of aggregating exposure positions globally to minimize numbers of trades required. Evaluate Back-to-Back Hedging A spin-off of efficiently aggregating hedge positions is formally pushing down internal hedges to subsidiaries. This can improve internal reporting or can assist in keeping subsidiaries accountable for their hedge results.When it makes sense from accounting and tax perspectives, back-to-back hedging is a common balance sheet hedging approach as an extension of making efficient aggregated topside hedge decisions. Kyriba’s FX Advisory team helps multi-national companies optimize hedge programs and evaluate FX risk holistically to complement a full end to end FX Risk Management solution. Reach out today to our FX Advisory team to learn more. Also, visit https://www.kyriba.com/products/risk-management/ to view more on our FX Risk Products or schedule a demo with the team.

This is a special episode featuring Kyriba’s Senior Vice President of FX Sales and Advisory Services, Andy Gage.

*Accepting cookies will allow the podcast player to be displayed. How To Optimize Your FX Risk Management Program and Stay Ahead of the Curve This is a special episode featuring Kyriba’s Senior Vice President of FX Sales and Advisory Services, Andy Gage. For nearly 20 years, Andy has been helping multinational companies automate and optimize their currency risk management programs. Prior to his current role, Andy served as VP of FX Risk Management Solutions at Kyriba. On this episode, Andy discusses how to harness automation and smart analytics to run an effective corporate risk management program, the effects of inflation on markets globally, and being better prepared for the next crisis.

Inefficient payment processes inhibit supply chains, cash flow and profitability. The need to optimize cash and working capital, combined with the increasing threat of cybercrime and payments fraud, amplifies the need to centralize and...

Inefficient payment processes inhibit supply chains, cash flow and profitability. The need to optimize cash and working capital, combined with the increasing threat of cybercrime and payments fraud, amplifies the need to centralize and standardize corporate payments. A payments hub consolidates payment streams from ERPs, finance, treasury, legal, capital markets, and decentralized teams, transforming disaggregated processes into a single source of record for all outgoing payments. Kyriba’s Payments Hub centralizes payment activity, automating unnecessary tasks, enhancing controls through superior fraud detection and error handling, all while giving finance full control and visibility into the status of AP, treasury and other ad hoc payments. "It was simply unsustainable to continue logging in to each individual e-banking platform in order to approve payments. Kyriba offers us a single, consolidated point of access across all our bank accounts, [giving us] the ability to set up payments, define different payment types and to receive notification of pending approvals." — Andrew Nicholson, Graff Diamonds Benefits of a Payments Hub Implementing a payments hub delivers a wide range of value, simplifying and streamlining payment processes so treasury and finance leaders can focus on other strategic initiatives. The following examples are just a few of the benefits that a robust payments hub can offer treasury and finance teams: Controls & Visibility Centralizing payments enables complete visibility of outgoing cash flows so treasury can optimize cash balances and effectively deploy cash and manage liquidity. Enhanced Security Payments hubs can ensure a standardized set of controls, extra layers of authentication, audit trails and payment status reports. A payments hub can also offer AI-enabled, real-time screening. Format Transformation Via automation, payments are reformatted based on bank channel, payment type or receiving location. Cost Reducing the number of systems that connect to a bank eliminates substantial bank service fees and software costs. Global Bank Connectivity Payments hubs connect to all global banks with choices for communication protocols, including direct connection, country banking networks and SWIFT. Payment Routing When routing payments, flexibility matters. Payments hubs can support blind routing of preapproved, preformatted payments, and intelligent routing for payments that require additional approvals or format transformation. The Future of Payments Multi-channel payments hubs are the way of the future, with corporates soon to be presented with greater choice in B2B and B2P payment technologies. Kyriba’s is pushing the envelope with its Payments Hub, offering users all the latest capabilities: Payment workflow and controls to ensure that manual payments activities align to the organization’s payment policy and controls. APIs that require no files to be downloaded, enabling instant data transmission, including real-time payments and screening/fraud detection. A pre-built format library to meet the needs of every global bank, which require thousands of format variations. Integrated global bank connectivity to deliver out-of-the-box, API, SFTP/H2H and proprietary connections. Kyriba embeds our SWIFT Service Bureau capabilities in our banking connectivity. Two-way communication to include the receipt of payment status reports, acknowledgements, payment tracking, and bank statement reporting for status reporting and payment visibility. Payments intelligence reporting and easy, user-friendly dashboards to give you analytics, status, and data visualization for all payments. AI-driven Payments Fraud Detection to automate and digitize payment processes and detect anomalous transactions

Corporate treasury groups are being challenged with unprecedented scrutiny when it comes to the accuracy and quality of their forecasts. In this session, you will learn about many of the difficulties that organizations are...

Corporate treasury groups are being challenged with unprecedented scrutiny when it comes to the accuracy and quality of their forecasts. In this session, you will learn about many of the difficulties that organizations are facing both internally with process and data constraints, and externally with current market conditions and volatility.

Benchmarking is critical to evaluate and improve financial position and gain a competitive advantage. But many leaders don’t have a clear picture of where they stand - often due to time and resources constraints,...

Benchmarking is critical to evaluate and improve financial position and gain a competitive advantage. But many leaders don’t have a clear picture of where they stand - often due to time and resources constraints, or simply not knowing where to begin.

This episode features an interview with Alex Song, Head of Finance and Capital Markets at Ramp, a finance automation platform offering corporate cards and expense management so companies save time and money with every click.

*Accepting cookies will allow the podcast player to be displayed. Liquidity and Metrics that Matter to CFOs This episode features an interview with Alex Song, Head of Finance and Capital Markets at Ramp, a finance automation platform offering corporate cards and expense management so companies save time and money with every click. Alex is a Stanford engineer with an MBA from Harvard who has more than 10 years of experience as a hedge fund investor in structured credit, special situations, specialty finance, and fintech. Prior to Ramp, Alex worked in private credit and structured credit investing at Sculptor Capital Management and as Vice President of Crayhill Capital Management. On this episode, Alex discusses how Ramp identified their target market, risk management as a credit card issuer, and what it takes to be an efficient allocator of both financial and human capital.

The Kyriba July 2022 Currency Impact Report Reveals FX Impacts Surge to $24 Billion for Multinationals. ​North American corporations experienced a $14+ billion hit to their earnings, more than 200% single quarter spike in...

The Kyriba July 2022 Currency Impact Report Reveals FX Impacts Surge to $24 Billion for Multinationals. ​North American corporations experienced a $14+ billion hit to their earnings, more than 200% single quarter spike in headwinds. Download the CIR now to gain insights that will allow CFOs and risk managers to benchmark exposure and inform decision-making.

This episode features an interview with Sinohe Terrero, CFO at Envoy speaking with The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba.

*Accepting cookies will allow the podcast player to be displayed. A Fresh Perspective on Owning the Number and Driving Growth This episode features an interview with Sinohe Terrero, CFO at Envoy speaking with The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Sinohe discusses his #1 indispensable tech tool, how he identified and filled gaps in his resume to land him his current role as CFO, and how just because you have money doesn’t mean you have liquidity.

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...

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.

Global multinationals are experiencing sensitivity to currency headwinds and rising interest rates, causing market conditions that have not been seen in a lifetime. Uncertainty can leave companies feeling vulnerable and looking for expert analysis to help them navigate through the abyss.

Global multinationals are experiencing sensitivity to currency headwinds and rising interest rates, causing market conditions that have not been seen in a lifetime. Uncertainty can leave companies feeling vulnerable and looking for expert analysis to help them navigate through the abyss.

Leverage Artificial Intelligence to increase cash forecasting confidence and accuracy Kyriba Cash Management AI empowers treasurers and finance leaders to make smarter business decisions by improving cash flow forecasts with artificial intelligence. Cash Management...

Leverage Artificial Intelligence to increase cash forecasting confidence and accuracy Kyriba Cash Management AI empowers treasurers and finance leaders to make smarter business decisions by improving cash flow forecasts with artificial intelligence. Cash Management AI organizes and leverages data so organizations can make forecasting decisions faster, easier, more accurately, and more consistently. Automated Forecasting Organizations can expect to increase the accuracy of their short-term forecasts due to Kyriba Cash Management AI’s artificial intelligence and confidence adjustment features: • The module will automatically learn from the history of cash flows stored in the Kyriba platform to continuously improve inflow projections over time • Users can adjust and optimize the cash cushion to minimize the expected cost of liquidity based on organizational risk policies Powered by Kyriba Analytics The Cash Management AI offers a set of clear visual cash forecasting dashboards that can be customized for your organization’s needs. Features include the following: • Calculated cash budget and forecasted cash balance over the considered time horizon • Predicted inflows and confirmed outflows reporting • Data filters, e.g. country and currency, to focus the forecasting exercise User-Selected Confidence Level The Cash Management AI offers a simple slider control for users to make real-time forecast adjustments selecting the right confidence level based on the organization’s risk profile and policy. A backtesting report allows the treasurer to continuously control the effective accuracy of predictions. Seamless Integration The Cash Management AI uses predictive analytics that leverage cash data already available within the Kyriba platform. The calculation of the cash budget with a high level of confidence empowers the Treasurer to make safe business decisions on invoice payments, credit facility drawdowns and investment of cash reserves. Liquidity Innovation With artificial intelligence and machine learning at the heart of the solution, Kyriba Cash Management AI uses historical data stored within the Kyriba platform to make predictions. Predictive power increases as the machine learning algorithm is trained and learns from new data and information patterns. Kyriba Cash Management AI harnesses data and modernizes forecasting technology to increase forecasting accuracy, reduce financial costs, and optimize liquidity to drive financial growth.

Kyriba is the global leader in cloud treasury and finance solutions, delivering Software-as-a-Service (SaaS) for CFOs and corporate treasurers. It provides treasury, risk management, payments, connectivity, and working capital solutions that are all connected...

Kyriba is the global leader in cloud treasury and finance solutions, delivering Software-as-a-Service (SaaS) for CFOs and corporate treasurers. It provides treasury, risk management, payments, connectivity, and working capital solutions that are all connected in real-time. Our products help customers manage their liquidity and make better decisions with their finances. Treasury & Risk Management Kyriba provides CFOs and treasurers with the visibility and reporting they need to optimize cash returns, control bank accounts, drive reporting and compliance, and manage liquidity. Connectivity Kyriba delivers the largest global banking network, multi-ERP connectivity, omnichannel payments experience, and real-time connections using machine learning, artificial intelligence, and advanced solutions with leading practices built in. With Kyriba, you can use one API to connect from your ERP systems to over 1000 banks for payments and reporting. Payments Kyriba offers a global, real-time payments solution through pre-connected, multi-bank payments hub solutions along with instant fraud detection for enterprise payments processes including treasury or ad hoc payments. Working Capital Kyriba delivers a best in class technology solution, giving CFOs tools and programs to boost free cash flow and improve financial results with early payment financing solutions that support payables term extension or improved return on cash. The company was founded in 2000 and is currently headquartered in San Diego, with global offices in the Americas, Europe, Asia Pacific, and other major locations. More than 2000 clients in 100 countries trust Kyriba to empower and enable them to transform the way they access and leverage liquidity to build resilience, generate value, and unlock growth. 25% of EURO STOXX 50 companies and 20% of Fortune 500 companies are Kyriba customers. Check Kyriba client success stories to find out more about how Kyriba supports our clients to achieve treasury excellence: Kyriba also has a global network of partners to support its client base, who play a crucial role in our growth and success. Kyriba partners include local system integrators, ERP vendors, audit firms, and banks. Our partner program delivers an array of tools, resources, and benefits designed to deliver value to you and our customers. To get a better understanding of how Kyriba's cloud platform works, please watch the video.

Kyriba recognizes that CFOs and treasurers in enterprises are facing a rapidly changing business environment, where market volatility, supply chain disruptions, payments fraud, rising interest rates, and counter-party risks are becoming increasingly common and...

Kyriba recognizes that CFOs and treasurers in enterprises are facing a rapidly changing business environment, where market volatility, supply chain disruptions, payments fraud, rising interest rates, and counter-party risks are becoming increasingly common and pressing for real-time decision making. To help clients stay one step ahead of these changes, Kyriba provides a suite of solutions that enable companies to manage their cash, liquidity, risks, payments and connectivities on a single cloud-based SaaS platform. Inflation is a major concern for every business today, as it erodes the value of cash and can lead to increased costs for goods and materials.  To help clients manage inflation risks, Kyriba provides advanced cash forecasting and scenario planning tools that enable companies to analyze their exposure to inflation and take proactive steps to mitigate it. Kyriba also offers real-time analytics and reporting capabilities that help CFOs and treasurers monitor and manage their cash flows and liquidity positions more effectively, enabling them to respond quickly to changing market conditions. Supply chain disruptions have become increasingly common in recent years, especially post the global covid pandemics, with unpredictable natural disasters, and geopolitical tensions. To help clients manage supply chain risks, Kyriba offers supply chain finance solutions that enable companies to optimize their working capital and improve their cash flow, while also mitigating risks associated with suppliers. Payments fraud is another real threat for businesses of all sizes, with cybercriminals becoming increasingly sophisticated in their attack methods such as social engineering and deepfake. To help clients protect against payments fraud, Kyriba provides fraud detection and prevention tools including AI capabilities that enable companies to stop fraudulent transactions before they even reach the banks for payments execution. Kyriba also offers payment controls and compliance screening that enable companies to manage their payments and financial transactions with greater sense of security. Rising interest rates and counter-party risks are additional challenges that CFOs and treasurers must handle on regular basis. To help clients manage these risks, Kyriba provides advanced risk and exposure management tools that enable companies to analyze their exposure to interest rate fluctuations and counter-party risks, and take proactive steps to mitigate them. Kyriba also offers comprehensive liquidity planning solutions that enable companies to manage their liquidity company-wide in order to respond quickly to changing market conditions. Want to learn more about Enterprise Liquidity Management? You are welcome to join Kyriba’s upcoming monthly live demo sessions to get an overview of the Kyriba platform. Our treasury experts will show you how Kyriba can help your treasury and finance teams optimize corporate cash and working capital, manage financial risk, and ultimately prepare for the changes ahead. An on-demand demo session is available here.

Join Kyriba's Brian Blihovde as he leads a panel discussion with Cenveo's Ben Seal and CoreSpace's Alex Basto, both of who delivered positive results by expanding Treasury's roles as a business advisor to the...

Join Kyriba's Brian Blihovde as he leads a panel discussion with Cenveo's Ben Seal and CoreSpace's Alex Basto, both of who delivered positive results by expanding Treasury's roles as a business advisor to the finance function.

Join Bank of America's Alex Yang and Kyriba's Bob Stark for a lively discussion on connected banking, API's and the future of banking integration for corporates.

Join Bank of America's Alex Yang and Kyriba's Bob Stark for a lively discussion on connected banking, API's and the future of banking integration for corporates.

Join Christopher Lynn from Lifespace Communities and Ken Cavazzi and Peter Simpson from KyribaLive Platinum Sponsor, Nitor.

Join Christopher Lynn from Lifespace Communities and Ken Cavazzi and Peter Simpson from KyribaLive Platinum Sponsor, Nitor.

Due to currency volatility and an internal drive for greater efficiency, Wahl Clipper recognized an opportunity to reduce currency risk and eliminate costs from their FX programs with an intercompany netting program.

Due to currency volatility and an internal drive for greater efficiency, Wahl Clipper recognized an opportunity to reduce currency risk and eliminate costs from their FX programs with an intercompany netting program.

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.

Join Treasury leaders as they discuss and answer questions related to driving impactful decision-making that creates value and positive results for the overall finance function.

Join Treasury leaders as they discuss and answer questions related to driving impactful decision-making that creates value and positive results for the overall finance function.

Learn how Koch, one of America’s largest privately held companies, put technology to work to centralize Treasury functions and achieve strategic level maturity.

Learn how Koch, one of America’s largest privately held companies, put technology to work to centralize Treasury functions and achieve strategic level maturity.

Meg Waters, Editor in Chief of Treasury & Risk, a go-to source for senior finance executives for in-depth reporting and analysis, will discuss best practices with two award-winning treasurers from Sisecam and Cenveo Worldwide.

Meg Waters, Editor in Chief of Treasury & Risk, a go-to source for senior finance executives for in-depth reporting and analysis, will discuss best practices with two award-winning treasurers from Sisecam and Cenveo Worldwide.

Waste Management is the leading provider of comprehensive waste and environmental services in North America, headquartered in Houston, Texas.

Waste Management is the leading provider of comprehensive waste and environmental services in North America, headquartered in Houston, Texas.

Join the team at Spencer Stuart International (SSI) as they share their transformation journey using Kyriba as the cornerstone for a technical landscape involving global payments across 20 countries and full Workday integration.

Join the team at Spencer Stuart International (SSI) as they share their transformation journey using Kyriba as the cornerstone for a technical landscape involving global payments across 20 countries and full Workday integration.

Bojan Belejkovski, Director of Treasury at Ilitch Holdings, shares insight from his extensive experience in treasury and the importance of getting the fundamentals right, from best in class cash management to risk avoidance and...

Bojan Belejkovski, Director of Treasury at Ilitch Holdings, shares insight from his extensive experience in treasury and the importance of getting the fundamentals right, from best in class cash management to risk avoidance and working capital optimization.

Technology, regulation and the global business environment have resulted in a deeper look at banking structures surrounding the movement of intercompany cash and FX exposures culminating in a driving need for in-house banks (IHB).

Technology, regulation and the global business environment have resulted in a deeper look at banking structures surrounding the movement of intercompany cash and FX exposures culminating in a driving need for in-house banks (IHB).

This session will focus on how Adobe transformed their Treasury by implementing Kyriba and the critical role Deloitte played as implementation partner.

This session will focus on how Adobe transformed their Treasury by implementing Kyriba and the critical role Deloitte played as implementation partner.

In a recent survey, 73% of treasury professionals had to update cash forecasting models due to supply chain impacts. Over half of them were forced to manage new liquidity scenarios.

In a recent survey, 73% of treasury professionals had to update cash forecasting models due to supply chain impacts. Over half of them were forced to manage new liquidity scenarios.

From hybrid work and cybersecurity to enabling new business models and managing new reporting requirements Finance and IT leaders have a long list of priorities placing significant demands on their departments.

From hybrid work and cybersecurity to enabling new business models and managing new reporting requirements Finance and IT leaders have a long list of priorities placing significant demands on their departments.

Treasury is constantly in a state of flux as teams work to support the business in a dynamic market environment.

Treasury is constantly in a state of flux as teams work to support the business in a dynamic market environment.

Bray International found itself in spreadsheet chaos, with limited visibility into global cash positions, resulting in inefficient processes and needless borrowing.

Bray International found itself in spreadsheet chaos, with limited visibility into global cash positions, resulting in inefficient processes and needless borrowing.

Join us for the Launch of our New Offering “Kyriba Client Academy” and understand the nature of the services we will be providing for you to become a True Kyriba Champion and Subject Matter...

Join us for the Launch of our New Offering “Kyriba Client Academy” and understand the nature of the services we will be providing for you to become a True Kyriba Champion and Subject Matter Expert.

Join Treasury leaders from WeWork and Hunt Companies in a discussion on how new technology is continually being promoted to CFOs and Treasurers as the path to digital transformation, hyper-automation, and real-time business intelligence.

Join Treasury leaders from WeWork and Hunt Companies in a discussion on how new technology is continually being promoted to CFOs and Treasurers as the path to digital transformation, hyper-automation, and real-time business intelligence.

Giangaddo Prati, CFO and CIO of Barilla, discuses the evolving role of the CFO and Treasury in today's market with Andrea Delvo, Managing Director of Kyriba Italy. Prati shares his views on the unique...

Giangaddo Prati, CFO and CIO of Barilla, discuses the evolving role of the CFO and Treasury in today's market with Andrea Delvo, Managing Director of Kyriba Italy. Prati shares his views on the unique challenges of the food industry during supply chain disruptions, how Barilla is approaching the "new normal," and the factors behind choosing Kyriba to assist in managing their treasury needs. With this project, Barilla is adopting Kyriba’s innovative digital platform to manage liquidity across the enterprise and to support Barilla’s global supply chain. The integration will centralize Barilla’s multiple supply chain finance programs into a single Dynamic Discounting solution that better supports its suppliers, shortens the cash conversion cycle and improves liquidity for the company. Barilla also selected Kyriba to increase cash visibility, improve cash forecasting, and digitize FX, interest rate, and commodities risk management. "Certainly the fact that Kyriba is an integrated platform for treasury, finance and service bureau solutions was a main factor driving our choice." Giangaddo Prati, CFO and CIO, Barilla   About The Barilla Group: Barilla is a family company, not listed on the stock exchange, chaired by brothers Guido, Luca and Paolo Barilla. It was founded by their great-grandfather, Pietro Barilla, who opened a bakery in Parma in 1877. Now, Barilla is famous in Italy and throughout the world for the excellence of its food products. With its brands – Barilla, Mulino Bianco, Pan di Stelle, Gran Cereale, Harrys, Pavesi, Wasa, Filiz, Yemina and Vesta, Misko, Voiello and Cucina Barilla – it promotes a tasty, joyful and healthy diet, inspired by the Mediterranean Diet and the Italian lifestyle. When Pietro opened his store more than 140 years ago, his overriding aim was to make good food. Today, that principle has become Barilla’s way of doing business: “Good for You, Good for the Planet,” a slogan that expresses the daily commitment of the over 8,000 people who work for the company, and of a supply chain that shares its values and passion for quality. “Good for You” means constantly improving the product offering, encouraging the adoption of healthy lifestyles and facilitating people’s access to food. “Good for the Planet” means promoting sustainable supply chains and reducing CO2 emissions and water consumption. To learn more: www.barillagroup.com; Twitter: @barillagroup

A fully realized digital transformation of treasury involves effective cash management, accurate cash forecasting, and real-time cash positioning within a consolidated view.  Without it, it is nearly impossible to support treasury & finance’s’ short,...

A fully realized digital transformation of treasury involves effective cash management, accurate cash forecasting, and real-time cash positioning within a consolidated view.  Without it, it is nearly impossible to support treasury & finance’s’ short, medium, and long-term decisions.  It is the goal and the most fundamental responsibility of treasurers to have full 100% cash visibility at the beginning of each day. Kelkoo Group, a leading e-commerce company, gained full control of their cash management and forecasting by utilising Kyriba's Enterprise Liquidity Management solutions. Here are some of the challenges Hilary Heah, Treasury Manager, was facing: Having to log into different banking portals Extracting and gathering the information manually risking inaccuracies Kyriba's tailored solutions allowed their treasury team to: Log into one platform to get a consolidated view Automation for reduced risk of manual processes Full cash visibility Get better analysis of daily transactions and consolidated statements Get accurate cash forecasting allowing them to make better-informed decisions Improved decision-making based on data Watch the video to learn more.   About Kelkoo Group With over 20 years’ experience in e-commerce, digital marketing and consumer analysis, Kelkoo Group is a global data-driven marketing platform that connects consumers to products and provides qualified traffic to online retailers. We operate in 39 countries worldwide and offer traffic acquisition solutions to Publishers, delivering highly qualified leads to their online shops, as well as monetization solutions to publishers, enabling them to earn money from displaying our Publishers’ products on their websites. Kelkoo Group is a professional and friendly environment. We have a passionate and multicultural team of 200+ employees located across our European offices in London (corporate headquarters), Paris, Grenoble, Milan, Oslo, Hamburg, Rotterdam and Madrid.

Emerging technologies are changing the way finance functions operate, opening up new opportunities for treasury and enabling teams to deliver increased value to the organization. As a new decade emerges, executives are looking to...

Emerging technologies are changing the way finance functions operate, opening up new opportunities for treasury and enabling teams to deliver increased value to the organization. As a new decade emerges, executives are looking to artificial intelligence and machine learning as a means for enhancing overall operations.

Kyriba delivers ways for small and mid-size (SME) company buyers and their suppliers to mutually strengthen their supply chains that gives faster access to inbound liquidity.

Payables Financing Kyriba delivers ways for small and mid-size (SME) company buyers and their suppliers to mutually enhance and strengthen their supply chains and financial performance with payables financing that gives flexibility and faster access to inbound liquidity while often extending payment timelines for the buyer. Supply Chain Finance Kyriba has partnered with innovative funders who cater to SMEs in order to offer you Supply Chain Finance: an online, low-cost invoice financing solution for early payment to your suppliers. Kyriba recognizes there is a strong need for midsized businesses to improve working capital through increasing its days payable outstanding. Yet, in the current economic environment, many suppliers find it difficult to wait 45, 60 or even 90+ days to be paid on invoices when they need working capital to fulfill new orders. Realizing an increase in suppliers’ payment terms could jeopardize supply chain stability, Kyriba works to help mid-sized buyers improve their days payable outstanding, without putting financial strain on suppliers, via Supply Chain Financing, which is an arrangement through which the buyer can generate free cash flow while simultaneously helping the supplier with theirs as well.

Manufacturers are especially sensitive to currency headwinds and rising interest rates due to the complex nature of their operations. These shifting variables create uncertainty and can leave companies feeling vulnerable. Visibility into your complete...

Manufacturers are especially sensitive to currency headwinds and rising interest rates due to the complex nature of their operations. These shifting variables create uncertainty and can leave companies feeling vulnerable. Visibility into your complete financial position can help propel your business forward.

This episode features an interview with Paolo Tonucci, CFO at Marex speaking with The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba.

*Accepting cookies will allow the podcast player to be displayed. Practicing Defensive Finance Strategies This episode features an interview with Paolo Tonucci, CFO at Marex speaking with The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Paolo discusses how to reduce your vulnerability to currency hedging, staying on top of the latest and greatest in fintech platforms, and how to effectively secure accounts against emerging cyber threats. Return to The Invisible Vault

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

In 2020, Cooke Aquaculture introduced Cooke Bank as a concept for centralizing its global liquidity and FX exposure. Between October 2020 and April 2021, a multi-layered, fully tax and transfer pricing compliant In-house Bank...

In 2020, Cooke Aquaculture introduced Cooke Bank as a concept for centralizing its global liquidity and FX exposure. Between October 2020 and April 2021, a multi-layered, fully tax and transfer pricing compliant In-house Bank (IHB) Solution was configured in Kyriba with a fully automated current-account relationship between treasury and operating units. “The primary goal of the in-house bank model was to internalize as many transactions as possible using the resources available in order to unlock liquidity.” Onaolapo Badejoko Treasury Risk Manager, Cooke Aquaculture Inc. Cooke Aquaculture has a robust growth strategy, including acquisitions and ongoing strategic search for development opportunities. The company’s global operations journey resulted in the need for Cooke to develop a Treasury function that would make cash a corporate resource across the enterprise and unlock liquidity. “Our in-house bank success story has led to a lot of cost savings. In terms of the payment factory rollout where all payments flow into one location, we now have control over when and how to pay, as well as over who gets paid. This has led to economies of scale, payment process efficiency, and full control over liquidity, group-wide.” Onaolapo Badejoko Treasury Risk Manager, Cooke Aquaculture Inc. Key Challenges with Legacy Processes: • Decentralized Cash Management • Decentralized & manual payment processing • Poor access to surplus cash balances • Complex, manual processing of intercompany liabilities • Multi-layered fiscal structure • Decentralized FX Management Objectives of In-house Bank Project • Implement tax compliant, multi-layered in‑house bank structure • Unlock otherwise trapped liquidity • Reduce number of cash management banks and bank accounts • Real-time, multi-currency liquidity management • Reduction in transaction costs / external money flows • Integration with ERP to support payments • Centralization of FX exposure management • Robust management and tax reporting “Cooke’s in-house bank promotes centralization and standardization of payment processes while enhancing controls. Their streamlined payment process reduced costs, improved cash liquidity and visibility, and minimized risk while increasing productivity.” Craig Chapman Senior Manager, Actualize Consulting Key Take-aways for successful in-house bank implementation Timing » Engaged early with internal accounting, tax and legal teams » Sequencing workflow efficiently was critical for Cooke’s successful implementation Standardization » Simple structures from an implementation, adoption and performance standpoint resulted in 100% accurate and automated accounting and reconciliation » Implemented a standardized process across all entities Clarity » Established clear project roles and responsibilities » Set a roadmap, project plan and stuck to deadlines and due dates Integration » ERP integration eliminated excessive manual input » Unlocked 20% of full-time employees in the financial shared service center for more strategiclevel work Successful in-house bank and payment factory implementation delivers multiple benefits In-House Banking • Administration of intercompany (cash) liabilities • Cooke Bank is the liquidity provider of the whole group Payment Factory • Payment process efficiency • Control over WHEN and HOW to pay or get paid Additional Synergies • Cooke Bank becomes the perferred “banking partner” of affiliates • Reduced bank fees   About Cooke Aquaculture Cooke Aquaculture Inc. is a vertically-integrated family company based in Blacks Harbour, New Brunswick, Canada with salmon farming operations in Atlantic Canada, the United States (Maine and Washington), Chile and Scotland, as well as seabass and seabream farming operations in Spain.

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.

“We moved from the stone age to Kyriba, which is obviously the premier Treasury Management System in the industry, saving us a ton of time and effort.” Joel Smith, Assistant Director of Finance, Delaware...

“We moved from the stone age to Kyriba, which is obviously the premier Treasury Management System in the industry, saving us a ton of time and effort.” Joel Smith, Assistant Director of Finance, Delaware Life Before Kyriba Legacy TMS provider riddled with many problems Limited support, heavily manual Kyriba Modules Adopted: Cash Accounting Payments Cash Forecasting Bank Analysis Positive Business Outcomes: Reports that used to take 15-20 minutes a day to generate - out of each bank portal - now are instantaneous Roughly 50 reports per day are now automated, saving multiple analysts hours of work Hundreds of transactions per day are now auto reconciled “One of the best things about Kyriba is the customer service. Every time I get on the phone, somebody picks up, and immediately we get attention. I can't stress how important that is for us. In treasury, everything is right now. If you have an issue, you need it done in an hour. We can 100% count on Kyriba to be there.” Joel Smith, Assistant Director of Finance, Delaware Life ABOUT DELAWARE LIFE Founded in 2013, Delaware Life Insurance Company is a member of Group One Thousand One, LLC ("Group1001"): a dynamic network of businesses making insurance more useful, logical, and accessible for everyone. As of March 31, 2022, the company had assets of $43.3 billion and liabilities of $41.2 billion (does not include Delaware Life Insurance Company of New York) with more than 320,000 active annuity and life insurance policies.

APIs are one of the most talked about technologies in 2022, as finance leaders look to make their treasury and payments operations more real-time and responsive to market volatility. APIs are critical to the...

APIs are one of the most talked about technologies in 2022, as finance leaders look to make their treasury and payments operations more real-time and responsive to market volatility. APIs are critical to the future of bank connectivity, yet they offer significantly more value than connecting treasury and ERPs to banks.

Currency volatility, rising inflation, increasing interest rates and the strong USD are causing a lot of headaches for Corporate Risk Managers.

Currency volatility, rising inflation, increasing interest rates and the strong USD are causing a lot of headaches for Corporate Risk Managers.

Kyriba now provides a flexible and seamless way to purchase professional service hours in bundled packages, providing cost savings and efficiency to accelerate time-to-value of consulting engagements. Ideal For: Organizations with ambitious treasury digitalization...

Kyriba now provides a flexible and seamless way to purchase professional service hours in bundled packages, providing cost savings and efficiency to accelerate time-to-value of consulting engagements. Ideal For: Organizations with ambitious treasury digitalization roadmaps, or foresee organizational growth Treasury and Finance Departments with a strict, predefined budget Resource-constrained organizations Companies who have high or immediate demands for Professional Service hours where time-to-delivery is crucial Value Added Services Packages are more flexible and can be used towards projects such as: Implementation of new modules or new bank connections New payment connections or additional payment scenarios Customized 1:1 training for existing or new users Customized report creation Complex configuration changes in existing set-up or live modules Process reviews and workflow optimization Much more! Request to Resource Assignment in Just 72 Hours Typical Change Orders can take 3-4 weeks to flow through legal and finance teams before a Professional Services resource is assigned, and they often expire before work is completed. Value Added Services Packages eliminate the need for Change Orders and provide near-immediate engagement without billing or contractual hurdles. Speak to your Account Manager for rates. 12 Months to initiate service request; 15 months to complete service delivery. No rollover of hours. Hours consumed in 30 minute increments. No customization of packages available & no discounting of rates within packages. Fixed Fee with 100% due upon signature. Read more Budget Once. Pay Once. Use Anytime. Value Added Services Packages are an alternative path to Change Orders, giving customers greater flexibility in budgeting and resource allocations, and will accelerate time-to-value of consulting engagements. They DO NOT replace Kyriba Support.

Kyriba has established a structured Value Engineering approach as part of its client engagement methodology to ensure customers have a clear path to successful business outcomes. The Value Engineering process starts at the initiative...

Kyriba has established a structured Value Engineering approach as part of its client engagement methodology to ensure customers have a clear path to successful business outcomes. 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. The Value Engineering 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 select 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 three phases of the Kyriba Value Engineering methodology are: Value Discovery, Value Monitoring and Value Realization. The Kyriba Value Engineering Lifecycle 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 Value Engineering 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’s 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 Value Engineering 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, please contact Kyriba’s Value Engineering team directly at [email protected]

CFOs, Treasurers, Risk Managers, alike “don’t know what they don’t know” about their foreign currency exposure data.

CFOs, Treasurers, Risk Managers, alike “don’t know what they don’t know” about their foreign currency exposure data.

Real-Time Payments accelerate liquidity, improve security and optimize costs for finance teams. Real-time payments are a game changer for corporate finance teams who require more choices in how they optimize payments and liquidity. What...

Real-Time Payments accelerate liquidity, improve security and optimize costs for finance teams. Real-time payments are a game changer for corporate finance teams who require more choices in how they optimize payments and liquidity. What Are Real-Time Payments? The terms “fast”, “faster”, “real-time” and “instant” are often used interchangeably to describe new payment options. These terms generally apply to payments using modern payment infrastructures in which the transmission of the payment message and the availability of ‘final’ funds to the payee occur in real time or near-real time as near to a 24/7 basis as possible*. Payment infrastructures supporting these options are generally domestic and sometimes regional in nature. Corporates can access these payment options via APIs or FTPs. One or more of following payment formats are available: • JSON • ISO 20022 XML • Fixed formats • CSV formats Kyriba’s Global Support for Real-Time Payments As of Q2 2022, Kyriba customers globally are initiating instant payments from 35 countries to over 90 destination countries. Thanks to Kyriba’s industry leading APIs and flexible format library with 50,000 formats, customers have multiple options to access real-time payment infrastructures without the need to worry about integration complexity. Kyriba is being actively used by customers for real-time payments across all major markets: • Americas (USA, Canada, Brazil, Mexico) • SEPA countries (over 25 countries supported) • Asia (Singapore, Japan, Thailand, Australia, Hong Kong) Real Business Use Cases Bring Tangible Benefits Time-sensitive payments such as emergency payroll, disaster relief, and AP exception payments are executed by Kyriba clients in industries such as distribution and logistics. These payments often replace more expensive Wire payments resulting in material operational cost reduction. Intercompany transfers are low risk and a common use case. Several Kyriba customers have enabled efficient deployment of working capital across their subsidiaries using the domestic/regional instant payment option. Instant insurance claims disbursement is a typical example of improving customer experience with real-time payments, where insurance clients are focusing on enabling service innovations instead of focusing just on cost reduction. Request for Payment (RFP) 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 Kyriba Clients Use Real-Time Payments For Working Capital Optimization • Intercompany Transfers • Delay Payments (as late as possible) • Request for Payment Risk Reduction • Payroll Exception Payments • Emergency Supplier Payment • Disaster Relief Payments Cost Reduction • Wire, Card Displacement • Check Displacement • Straight-Through Processing Industry Specific Use Cases • Insurance Claims Disbursements • Instant Returns Processing • Request for Payment The Benefits of Adopting Real-Time Payments • Improved supplier relationships • Control over working capital • Increased security • Improved ROI • Immediate settlements • Non-repudiation Real-time payments will become the standard for domestic and cross-border payments, accelerating liquidity globally for finance teams and their value chains. Kyriba will help you navigate through the use cases that you can most benefit from. Contact us today. * Committee on Payment and Settlement Systems (2016)

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

In this session you will learn the importance of giving suppliers access to liquidity on a consistent basis, particularly when we’re seeing constant disruption in the supply chain. While Dynamic Discounting can be a...

In this session you will learn the importance of giving suppliers access to liquidity on a consistent basis, particularly when we’re seeing constant disruption in the supply chain. While Dynamic Discounting can be a good solution, historically it’s been buyer focused and on again, off again, which is not always friendly to suppliers.

In this session you will learn how to supercharge your bank onboarding experience with our speakers providing input from the Client, Implementation and Technology sides of the puzzle. Learn how to leverage Kyriba’s capabilities...

In this session you will learn how to supercharge your bank onboarding experience with our speakers providing input from the Client, Implementation and Technology sides of the puzzle. Learn how to leverage Kyriba’s capabilities and scale to quickly access bank reporting and complete payment testing.

Kyriba Premium Support provides a more advanced level support for Kyriba clients looking to further enhance the user experience and receive proactive response to support issues. The primary features of Premium Support is the...

Kyriba Premium Support provides a more advanced level support for Kyriba clients looking to further enhance the user experience and receive proactive response to support issues. The primary features of Premium Support is the assignment of a designated Support Account Manager as well as a comprehensive dedicated monitoring approach. Kyriba Premium Support provides a level of personalization that matches each client’s individual needs, providing access to the right information at the right time, a more optimized use of Kyriba, and time and resource savings through proactive monitoring Kyriba Premium Support Key Features: • 24/5 support access in Asia, Europe and North America • Designated Support Account Manager (SAM) • Regular service review meetings with the SAM • Proactive monitoring and alerts of bank connection status, payments and variances • Comprehensive KPI reports • Yearly overview of the new features delivered by Kyriba • Priority call Extended Support Coverage Kyriba Premium Support provides extended support coverages, giving access to all of Kyriba’s global support centers across North America, EMEA and Asia. This enables: • 24×5 support, eliminating the need to submit tickets in the organization’s primary market. • 24×7 Client Support Portal access that includes the ability to manage cases. • Access to the support knowledge base. Enhanced Support And Case Management Kyriba Premium Support subscribers benefit from a designated Support Account Manager (SAM), an experienced and highly-trained resource with advanced knowledge of the Kyriba application and the client’s individual Kyriba environment and processes. The SAM provides proactive management of all support requests, coordinating case escalations to ensure the quickest possible resolution. Cases are simultaneously submitted to the SAM and Kyriba’s general support queue for greater visibility and speed to solution. Dedicated Monitoring Kyriba Premium Support provides subscribers an invaluable service for companies wishing to outsource their monitoring functions and optimize internal resources. Dedicated Monitoring includes: • Monitoring the delivery of bank statements, bank connection status and cash balance variances • Payment monitoring to ensure that payments are sent and processed successfully by the banks • Personalized monitoring schedule, adapted for each client, providing proactive alerts each time a potential issue is detected Why Kyriba Premium Support? Kyriba Premium Support addresses the needs of companies using Kyriba for our award-winning Treasury, Payments and Supply Chain Financing solutions, and looking for a more advanced support package that includes: • Assignment of a designated Support Account Manager for dedicated support and a point of escalation • Proactive monitoring and alerts of bank connection status, payments and variances

*Accepting cookies will allow the podcast player to be displayed. CFOs as Agents of Change This episode features an interview with Aneal Vallurupalli, CFO at Airbase, talking to The Invisible Vault host Daniel Shaffer,...

*Accepting cookies will allow the podcast player to be displayed. CFOs as Agents of Change This episode features an interview with Aneal Vallurupalli, CFO at Airbase, talking to The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Aneal addresses the impact that the pandemic had on the finance world, the importance of holistic data in finance, as well as how the current role of the CFO is changing. Return to The Invisible Vault

State and local government entities, as well as governmental agencies across the country, are experiencing a drastic increase in payments fraud, which has resulted in millions of dollars in losses. For government offices looking...

State and local government entities, as well as governmental agencies across the country, are experiencing a drastic increase in payments fraud, which has resulted in millions of dollars in losses. For government offices looking to streamline their payments, prevent fraud and stay out of headlines, the need for a robust cybersecurity strategy is imperative. Government entities at all levels must realize without adequate payment fraud controls, banks and cybersecurity insurance may not cover losses and related litigation. Governments who are experiencing payments fraud are seeing a number of different deception tactics from cybercriminals to gain access to their liquidity. Often posing as an internal employee or an external vendor, fraudsters are deploying threats such as: Social Engineering The use of deception to manipulate individuals into divulging confidential or personal information that may be used for fraudulent purposes. Impersonation Fraudulent cybercriminal(s) pretending to be a vendor, manager or executive to make a payment request or to change banking instructions. Business Email Compromise (BEC): A request made via email to send, change or update payment instructions. Deepfake When a cybercriminal uses video, photo, audio or voice to alter their identity and impersonate a company employee to send payments. Public sector treasury departments have a lot at stake when a payments fraud attempt is successful. From the loss of funds to reputational risk and unfavorable press to banks viewing them as highrisk clients, fraud can do massive damage to a government agency. Furthermore, organizations don’t have as much protection as they might think. Banks are under no obligation to cover any client losses unless the bank itself was breached. And cyber insurance doesn’t always cover payments fraud, as some recent cases have shown. As for technology, treasury and accounts payable teams often do not have end-to-end fraud prevention tools in place to standardize their payments policies and procedures. When building payment workflows, it is important to consider how internal processes will actively work to mitigate payments fraud and fraudulent invoicing to prevent examples of payment control breakdowns that lead to fraud like the following: As cybercriminals continue to target government entities with seemingly high success rates of payments fraud, organizations should look to leverage robust, end-to-end payment and fraud prevention modules to automate and solidify their payments fraud strategy. Kyriba provides governmental agencies the ability to centralize and detect potential fraud in real time, stopping suspicious payments in their tracks. The module utilizes a rule-based, machine learning model to comply with internal policies, and provide alerts and anti-fraud controls for users to immediately detect possible fraudulent payments for investigation, based on identified anomalies compared to payment history and fraud patterns. For more insights. Visit Kyriba’s public sector or payments page.

Up to 90% of CFOs and CIOs report payments and financial fraud attempts, and cyber threats are growing more complex with intelligent technology. That makes proactive fraud detection and response programs a top priority...

Up to 90% of CFOs and CIOs report payments and financial fraud attempts, and cyber threats are growing more complex with intelligent technology. That makes proactive fraud detection and response programs a top priority for CEOs and their boards.

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.

Currency headwinds grew by 215% to nearly $7 billion in Q4 2021 according to the latest Currency Impact Report (CIR), which details the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based...

Currency headwinds grew by 215% to nearly $7 billion in Q4 2021 according to the latest Currency Impact Report (CIR), which details the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe.

“I am awed by how much my company is benefiting from Kyriba and how much we have accomplished since going live. Kyriba’s ability to automatically load our BAI files directly from the banks has...

“I am awed by how much my company is benefiting from Kyriba and how much we have accomplished since going live. Kyriba’s ability to automatically load our BAI files directly from the banks has saved countless hours from needing to login to banks each day for balances and transactions. We have a significant number of bank accounts and daily transactions, and the ability to apply budget codes automatically, forecast, and slice and dice the data has truly been a game-changer for treasury.” Stephen Kincaid, Assistant Treasurer and Vice President of Treasury, Walker & Dunlop Walker & Dunlop has extensively leveraged the value of Kyriba as an integral part of their financial framework and vision. Their extensive use of Kyriba dashboards allows them to find critical data very quickly and action those items for better strategic decision-making. 2021 Payments Factory Project 1.5 year large scale project with their loan servicing system Payment formatting, approval workflows, and remittance through Kyriba Day 1 of go-live, successfully processed $3 Billion in funds “We look forward to continuing to automate and enhance our treasury processes with the help of Kyriba and their expanding technology.”

*Accepting cookies will allow the podcast player to be displayed. Creating Impact with AI, Automation and Empowerment This episode features an interview with Maarika Paul, Executive Vice President and Chief Financial and Operations Officer...

*Accepting cookies will allow the podcast player to be displayed. Creating Impact with AI, Automation and Empowerment This episode features an interview with Maarika Paul, Executive Vice President and Chief Financial and Operations Officer at Caisse de Dépôt et Placement du Québec (CDPQ), talking to The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Maarika addresses overcoming adversity as a woman in finance, deploying new investment strategies for CDPQ with net assets totalling over CA$365.5 billion, and discusses the implementation of AI and augmentation for financial analyses in the future. Return to The Invisible Vault

For nearly a century, Baxter has been at the critical intersection of saving and sustaining lives, driven by innovation to transform global healthcare. With global operations in over 35 countries, Baxter put Kyriba to...

For nearly a century, Baxter has been at the critical intersection of saving and sustaining lives, driven by innovation to transform global healthcare. With global operations in over 35 countries, Baxter put Kyriba to work to centralize visibility, develop global standardized cash management processes and centralize payments into one portal globally for tens of thousands of payments each month. “Our implementation of Kyriba has been a key driver in our digital global banking strategy. Digitizing our end-to-end banking environment through the Kyriba platform pushed the project forward and moved the needle.” Elizabeth Ecsy, Director Treasury Operations, Baxter Positive Outcomes with Kyriba 100 banks connected for instant global visibility 9 payment banks sending payments across 150 unique country/currency combinations 4000+ daily cash transactions monitored across 4 regions, uniquely using Kyriba’s cash position worksheets to view transactions categorized by payment and collection type

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 for Midsize Companies is a scalable solution for companies looking to eliminate their manual and errorprone spreadsheet-based cash management program and replace it with an automated, easy-to-use system. With a cost-controlled approach and...

Kyriba for Midsize Companies is a scalable solution for companies looking to eliminate their manual and errorprone spreadsheet-based cash management program and replace it with an automated, easy-to-use system. With a cost-controlled approach and easy go live, Kyriba for Midsize Companies’ cash and liquidity management capabilities can be up and running quickly, giving more time back to your team for value-add initiatives. Kyriba’s cash and liquidity management benefits organizations by allowing treasury departments to spend more time on value-add tasks, and supporting strategic decision making, rather than spending countless hours on less valuable activities. 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 to spend 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 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 is recognized as the market-leading global cash management solution, providing comprehensive capabilities in an intuitive and easy-to-use solution. CASH MANAGEMENT AND FORECASTING For midsize companies, Kyriba’s cash management and forecasting capabilities automate 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. CASH MANAGEMENT KEY CAPABILITIES Dynamic Reporting Personalized cash position worksheets and period-based views provide the summary of balances and their evolution over time, while the daily view provides a categorized summary of the actual and forecasted cash movements of the day. Global Positioning Cash position can be viewed by region and/or by currency. Foreign currencies can be viewed based upon exchange rates or positions can be viewed in their native currency. Liquidity Analyze total liquidity by incorporating desired investment and credit data from the Debt and Investment modules. A dedicated liquidity report aggregates and sums data. Multi-Entity View position by the individual entity or analyze corporate-wide cash position configurable to each client’s requirements. Full drill-down allows viewing the summary as well as supporting detail. Seamless Integration The cash position is updated continuously in real-time, so any changes made to a forecast – including from other Kyriba modules – will be automatically available on a client’s worksheet(s). Target Balances Cash pooling allows target balances to be set in a hierarchical manner, ensuring that recommended funding and drawdowns are predicted, and can automatically occur in combination with the Kyriba Payments solution. CASH FORECASTING KEY CAPABILITIES Import from ERP A/P and A/R detailed or summary level data, and other internal systems. Forecast Reconciliation Access powerful analytics, comparison of forecasts to actual bank transactions based on a combination of customizable criteria including account, amount, date, and reference. One-to-one, one-to-many, and many-to-many matches are available. Compare estimated and confirmed forecasts to actuals, and analyze variances for any user-definable period. Users can also support working capital management by reconciling open receivables against cash receipts to report on A/R variances, calculate days of sales outstanding, and improve cash predictability. Easy Entry Rely on straightforward input of forecast data using standard entry forms. Seamless Integration Kyriba’s entire suite automatically updates the cash forecast so cash flows are available in real-time. Viewing the Forecast Personalize forecast views based upon period of time series, line items, business units, userdefined groupings, and additional information, such as borrowing or investing activity. CASH ACCOUNTING Kyriba cash accounting eliminates the time-consuming effort and error-prone manual process of posting to the GL by automating the GL entry process, generating dual and multi-sided entries from banks and internal cash transactions. Automated rules scan transaction characteristics in order to apply the appropriate GL accounts, creating a set of entries that are electronically integrated with the GL, on a scheduled and fully automatic basis. Kyriba cash accounting benefits all types of organizations, whether global, complex, centralized or decentralized, by supporting multicurrency and multiple charts of accounts. PAYMENTS CONTROL Kyriba can be harnessed to seamlessly integrate with your banking partners and give you ultimate control over your payment processes. Kyriba provides you with a single point of entry to generate and approve payments, and the Kyriba connectivity network helps format and transmit your payments to the bank. In addition to supporting the payment tasks carried out by your treasury team, our payment solutions provide you the ability to integrate and route payments to your banks from internal systems, such as accounts payable, taking the onus off of internal IT resources to control. Leveraging Kyriba’s connectivity allows organizations to become bank agnostic and quickly onboard expansion of their banking footprint without involvement of internal IT resources.

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  

Payments fraud continues to be a top concern for organizations. Fully 92% of finance leaders observed that fraud in 2021 was as bad as, if not worse, than the year before, according to the...

Payments fraud continues to be a top concern for organizations. Fully 92% of finance leaders observed that fraud in 2021 was as bad as, if not worse, than the year before, according to the Association for Financial Professionals (AFP). 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. 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. 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 Features: 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 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.  

Kyriba offers multiple early payment programs to improve financial performance. Dynamic Discounting reduces cost of goods sold through the direct discounts earned from suppliers, increasing net income while simultaneously improving the return on excess...

Kyriba offers multiple early payment programs to improve financial performance. Dynamic Discounting reduces 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 facilitates term extension on payables, preserving cash for longer on the balance sheet and increasing free cash flow. Receivables Finance, currently in the final stages of development, optimizes cash flow by allowing sellers to be paid early for unpaid receivables from customers. 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.

Having clarity and visibility into cash and liquidity is a fundamental requirement for any treasury department. Without that, it is nearly impossible to support critical financial decisions and strategic business objectives. Kyriba delivers timely...

Having clarity and visibility into cash and liquidity is a fundamental requirement for any treasury department. Without that, it is nearly impossible to support critical financial decisions and strategic business objectives. Kyriba delivers timely and accurate global cash visibility, enabling treasury teams to create accurate forecasts that deliver confidence throughout the organization.

*Accepting cookies will allow the podcast player to be displayed. How Advanced Technologies are Driving Business Resiliency This episode features an interview with Kevin Permenter, Research Director at IDC, talking to The Invisible Vault...

*Accepting cookies will allow the podcast player to be displayed. How Advanced Technologies are Driving Business Resiliency This episode features an interview with Kevin Permenter, Research Director at IDC, talking to The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Kevin discusses improving the efficiency of data management, getting actionable insights at near real time, and building resiliency of your business. Return to The Invisible Vault

Modern payment fraud threats are innovative and constantly evolving. To confront these threats, organizations need to deploy the most up‑to-date detection and prevention solutions.

Modern payment fraud threats are innovative and constantly evolving. To confront these threats, organizations need to deploy the most up‑to-date detection and prevention solutions.

Kyriba Academy Programs The Kyriba client certification program is available both on demand and in person. 4 Different Paths Designed to Support Different Needs. New to Treasury Designed for users new to the treasury...

Kyriba Academy Programs The Kyriba client certification program is available both on demand and in person. 4 Different Paths Designed to Support Different Needs. New to Treasury Designed for users new to the treasury space who want to increase their basic treasury knowledge End User Knowledge Provides a basic understanding of how to leverage and effectively use the Kyriba Application daily Deep Dives Designed for all Kyriba users who would like a deeper understanding on specific Kyriba workflows Kyriba Expert Users who want to significantly increase their Kyriba knowledge and focuses on the setup and implementation of a specific module on the Kyriba solution. Kyriba certification available at the end of each session Kyriba is committed to providing clients with the knowledge, skills and best practices to maximize their Kyriba educational experience. Kyriba Client Academy offers a series of different training courses that allow users the flexibility to customize their own learning journey. Obtaining certification demonstrates a client’s commitment to corporate treasury excellence. These certification courses will help clients become a subject matter expert in the Kyriba application, helping maintain and enhance their overall experience. Kyriba users will develop the skills needed to efficiently administer, enhance, and expand their Kyriba deployment, leveraging best practices methodology. Kyriba selects the most advanced trainers and subject matter experts for its training and certification program. These trainers have vast knowledge of the Kyriba platform and bring realworld experience along with on-the-job experience as former members of our implementation teams. Our objective is to provide different paths for different learning needs.

Technology platform is key to support rapid growth in the PRC The Challenge Statements of more than 130 bank accounts required manual download from excel. The cash account types had to be manually marked...

Technology platform is key to support rapid growth in the PRC The Challenge Statements of more than 130 bank accounts required manual download from excel. The cash account types had to be manually marked on bank transactions details. It took 15 days to convert a cash flow report and the accuracy of the reports varied based on human coding errors. Cash management was fragmented and there was no cash planning with a lack of visibility on the global cash position. "By mastering cash flow trends of each business unit and combining actual business needs, we now have intelligent cash forecasting and variance analysis data to equip the team to maintain stable cash flow." An Shuang Head of Treasury Aihuishou International Co Ltd   The Solution The company determined it needed to invest in its treasury team, improve its processes and implement a modern treasury solution. Initial requirements included the ability to centralise all bank accounts onto a single platform to reduce manual errors, gain time and efficiency, and the ability to improve cash management with real-time visibility of cash positions and balances and support expanding business overseas. Best Practice and Innovation The team required real-time, accurate data reporting for cash forecasting and positioning. Partnering with Kyriba empowered the team with a centralised cash management solution that delivered a daily cash report with regional and group level analyses. ESG is crucial to Aihuishou as it has two main businesses – mobile phone recycling and recycling of recyclable waste of residential life, which have made great contributions to environmental protection in China and around the world. Faced with the challenge from investors of financing ESG programmes with heavy fixed assets investment (CNY1bn), the treasury team solved this problem with lease financing. It reduced the big investment on fixed assets and strengthened their business and financial structure at the same time. Aihuishou has taken giant steps in the PRC with its technology platform partner. Its next step is to connect network payments (eg Alipay, WeChat payments and other third-party payments) to the platform to enable a large amount of transaction funds out of bank accounts into the payments hub to gain more financial control, advanced fraud protection and intelligent management of payments. While bottom line value is clearly a priority for Aihuishou, evidenced by the valuation the market placed on its initial public offering (IPO), the treasury team also prioritises ESG as a function of their treasury culture and ambition to build value across the enterprise. "Kyriba is very happy to congratulate our client, Aihuishou International Company, for being recognised as a best in class treasury solution in the People’s Republic of China. Kyriba is honoured to support Aihuishou’s global treasury operations and help modernise their cash, liquidity and treasury processes. By centralising visibility and optimising liquidity, the Aihuishou team has transformed into a world class treasury and is an example for others to follow, as treasury improves visibility, controls and productivity to unlock liquidity and drive business value across their organisations. Congratulations to the entire Aihuishou treasury team on your success.” Bob Stark Global Head of Market Strategy Kyriba   200+ domestic and overseas bank accounts centralised and managed on the platform, enabling real-time visibility into daily cash positions and balances. 400% improvement in cash flow reporting time from 15 to three days. Stabilised cash flow from intelligent cash forecasting and analyses that generated multiple ‘what if’ cash flow scenarios. Secured six months of cash stability with reliable cash positioning – gained valuable recognition from investors and capital markets. A fair, transparent, and secure supply chain finance (SCF) system has been established to support the enterprise’s vast e-business. CNY1bn reduction of fixed assets through a financial leasing method to support the enterprise’s light internet business.  

>Utilities in North America are undergoing a period of rapid change that is presenting new challenges and opportunities. As utilities’ needs evolve, so too must traditionally labor-intensive treasury and cash management processes. With advancements...

>Utilities in North America are undergoing a period of rapid change that is presenting new challenges and opportunities. As utilities’ needs evolve, so too must traditionally labor-intensive treasury and cash management processes. With advancements in technology and growing investment in decarbonization, electrification, and green energy, utilities are reimagining their approaches to providing services. At the same time, utilities also need to contend with strict regulations, changing customer demands, outside risks, and complex ownership structures that can make treasury and finance operations challenging. With Kyriba, utilities can keep ahead of finance technology demands during these challenging times. Kyriba automates many routine tasks, allowing treasury and finance to focus on important strategic activities Cash Management (Intracompany Lending and Liquidity Pooling) Larger regulated utilities nearly always operate across multiple jurisdictions with their own sets of regulations, making liquidity pooling and intracompany lending extremely complex. Kyriba manages the complexities of working across differing jurisdictions, maintaining the regulatory firewall between the holding company and the operating companies. Kyriba’s dashboard and pooling capabilities allow you to track and report intercompany transactions to internally pool and lend cash safely and efficiently. Automation Regulated utilities are required to manage key ratios for statutory compliance. If ratios are off when treasury reports financials to Public Utilities Commissions, utilities can incur hefty fines. With Kyriba’s advanced prediction and analytics capabilities, you can now safely and confidently manage debt and equity ratios to guarantee statutory compliance while simultaneously delivering the KPIs needed to manage your complex business. Connectivity As utilities move away from in-house systems and into the cloud, you will require robust connections between your banks and your ERP systems. Kyriba offers connectivity to Oracle, SAP and Microsoft Dynamics 365, the most prevalent ERPs used by utilities. Kyriba’s APIs can easily connect to your ERP, and beyond. Cybersecurity (NERC-CIP) Protecting your critical infrastructure is vitally important. Moreover, it is mandated. Kyriba’s NERC-CIP compliant SaaS software and secure solution infrastructure provides the framework for your utility to meet its obligations. Advanced Cash Forecasting One challenge that utility treasury groups routinely report is their difficulty in creating meaningful cash forecasts. That worry can be behind you. Routinely named one of the world’s best cash forecasting solutions, Kyriba adds flexibility, visibility and power to your cash positions, organized by bank, entity, cash flow category, transaction status, etc. Bank Account and Bank Fee Management Kyriba’s Bank Account and Bank Fee Management modules offer workflows to track all details of your bank accounts and banking fees. You’ll have complete review and approval workflows to manage signature authorities while being assured that you are only paying those fees that have been contracted.

*Accepting cookies will allow the podcast player to be displayed. How to Build a Strategic Technology Solution for Modern Finance Leaders This is a special episode featuring an interview with Thomas Gavaghan, the Vice...

*Accepting cookies will allow the podcast player to be displayed. How to Build a Strategic Technology Solution for Modern Finance Leaders This is a special episode featuring an interview with Thomas Gavaghan, the Vice President of Global Pre-Sales at Kyriba talking to The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Tom and host Daniel Shaffer discuss two key topics: Payments and Visibility. Together, they look back at what previous guests have said about the topics, including Reed Luhtanen, Executive Director of the U.S. Faster Payments Council, Laurie Krebs, SVP and CFO at Red Hat, Danielle Murcray, CFO at AttackIQ, and Benjamin Seal, VP of Treasury Services at Cenveo. Return to The Invisible Vault

Throughout the COVID-19 pandemic, treasury teams have found themselves heavily focused on short-term forecasting in an effort to maintain cash flow. As companies now extend their planning horizons, they are relying on longer-term, strategic...

Throughout the COVID-19 pandemic, treasury teams have found themselves heavily focused on short-term forecasting in an effort to maintain cash flow. As companies now extend their planning horizons, they are relying on longer-term, strategic forecasting, which is traditionally developed by FP&A.

How We Support Your Organization With a proven track record over more than 20 years in Treasury and Finance SaaS solutions, our extensive, advanced protection for your data, security, controls, and your operational processes...

How We Support Your Organization With a proven track record over more than 20 years in Treasury and Finance SaaS solutions, our extensive, advanced protection for your data, security, controls, and your operational processes will keep your firm protected. Kyriba’s Cyber Defense Center Kyriba’s Cyber Defense Center, staffed with experienced professionals provides 24/7, global, follow the sun support. The goal of the Cyber Defense Center and Security Incident Response Team (CSIRT) is to detect and react to computer security incidents, determine their scope and risk, respond appropriately to the incident, communicate the results and risk to all stakeholders, and reduce the impact and likelihood of the incident from reoccurring. At the heart of the CDC, Kyriba runs Splunk as our Security Information and Event Management (SIEM) system. Threat Intelligence Dark Web scanning for compromised credentials, which includes email addresses, usernames and passwords Bolsters our ability to defend against ransomware, credential theft, brand abuse, and other malicious activities both cyber and physical Leveraging industry sources which deliver relevant cyber threat insights in real time Data Loss Prevention (DLP) DLP focuses on detecting and preventing the leakage, loss or misuse of data whether it’s through breaches, exfiltration, or unauthorized use. Kyriba’s approach to DLP covers our endpoints and is an effective tool for us to protect our customers’ data. DDoS Protection Amazon Web Services (AWS) Shield defends against the most common and frequently occurring network and transport layer DDoS attacks that target your website or applications. Encryption Kyriba uses AWS encryption for all data at rest. This automatically encrypts all block and file data using 256-bit encryption before storing it onto virtual disks. All data is encrypted in transit as well. Security Features and Capabilities Kyriba’s security is feature-rich and can be used to strengthen your financial controls framework and make audits and tracking of security and workflow easier than ever. Single Sign-On (SSO) SSO allows a user to login using their company assigned username and password. SSO uses SAML 2.0 for LDAP authentication and Rest APIs to manage authorizations. All password controls are managed internally by their Corporate IT team and policies. Multi Factor Authentication (MFA) MFA is an effective fraud prevention tool when used on its own or ideally in combination with other security features like SSO or IP Filtering. MFA creates a randomly generated one-time password using the user’s smartphone, a token, or a SWIFT 3SKey digital certificate. IP Filtering IP Filtering is a security feature that allows clients to restrict login to a predefined set of IP addresses – or ranges of addresses – which are set up and maintained by the system security administrator. If used on its own, IP filtering is an effective fraud prevention tool. Kyriba Control Center Maintaining control of treasury workflows is important for monitoring errors, disruptions and suspicious activity. Kyriba Control Center is used for monitoring workflows and treasury activity within Kyriba. Also used for early detection of unauthorized usage and potential fraud. Virtual Private Network Kyriba can set up and maintain a virtual private network (VPN) for each client so that users only access Kyriba through a dedicated network maintained by Kyriba. It is commonly used in combination with IP filtering and MFA to customize the level of protection for both centralized and decentralized users. 3SKey Support Kyriba incorporates digital signatures as part of the core security features. Personal identity tools are provided that allow the user to digitally sign messages and electronic documents, as well as approve transactions within the system. Kyriba supports the SWIFT 3SKey digital signature format. Kyriba Digital Signatures can be used to approve and/or authenticate payments sent to your banks from Kyriba, authenticate payments sent via non-bank channels and to login to Kyriba as one option for multi-factor authentication. Assurances, Certifications and Compliance From third-party penetration testing and ethical hacking, to industry standard auditing and reporting, Kyriba is always focused on compliance and security as well as maintaining security and other data related certifications as part of our commitment to our customers. Kyriba’s Risk and Compliance team conducts the following assurance engagements at least annually: ISO27001 Certification of Kyriba’s Information Security Management System (ISMS) SOC 1 / SOC 2 Compliance SWIFT L2BA certified (AL2 Provider) / CSP AL2 and Service Bureau Compliant Penetration Testing / Ethical Hacking Frequent Red Team exercises with industryleading Cyber Defense Firm Privacy Focus Our Privacy Team is knowledgeable on privacy laws and emerging trends worldwide to keep your corporate entities and your subsidiaries compliant.

Modern treasurers face numerous challenges due to the evolving financial landscape and the ongoing pandemic. Disruptions such as global supply chain issues, staffing shortages and fraud attacks have caused organizations to re-evaluate their processes...

Modern treasurers face numerous challenges due to the evolving financial landscape and the ongoing pandemic. Disruptions such as global supply chain issues, staffing shortages and fraud attacks have caused organizations to re-evaluate their processes to be able to survive and continue to operate as efficiently as possible.

Treasury and Payment Management for Government Agencies Kyriba empowers government agencies to achieve 100% daily cash visibility, accurate and flexible cash forecasting, debt & investment management, business intelligence, fully-managed bank connectivity, and fraud detection...

Treasury and Payment Management for Government Agencies Kyriba empowers government agencies to achieve 100% daily cash visibility, accurate and flexible cash forecasting, debt & investment management, business intelligence, fully-managed bank connectivity, and fraud detection through our cloud-based cybersecurity and financial software solution. “We saw massive attempts of attempted fraud – organizations trying to sell items they didn’t have. Technology is extremely critical in this environment.“ Bruno Fernandes, Deputy CFO & Treasurer, Government of District of Columbia   Kyriba is trusted by government agencies at the Federal, State, and Local level, providing a safe and secure tool to protect and save cash when it matters more than ever. How can we help you? Provide Accurate Budgetary Forecasts. Kyriba offers flexible, real-time cash forecasting with visual reporting for senior leadership. Save up to 80% in Cost and Time for bank file and payment connectivity projects; typically part of financial transformation projects. Investment & Debt Management through our fully integrated solution, enabling deal capture, reporting, and financial accounting to your GL. Protect Millions in Cash. Prevent fraudulent payments from being sent out through our secure and AI-based Fraud Detection solution. Business Continuity. Kyriba’s cloud-based solution provides business continuity to ensure cash management, and associated investment and debt activity can continue, no matter the crisis. Kyriba empowers government agencies to optimize cash and liquidity, reduce operational risk and support budget saving initiatives.   Security and Compliance Kyriba’s solutions are unmatched from a security and compliance perspective, including hosting in a Government Cloud instance, SOC 1 and 2 compliance, disaster-recovery protocols, and in-process FedRamp certification. Key Benefits Kyriba empowers government agencies to optimize cash and liquidity, reduce operational risk and support budget saving initiatives. Benefits include: 100% Cash Visibility Kyriba delivers automated bank reporting across all bank accounts, driving 100% cash visibility and enabling transparency of bank data into your ERP system. Cash Forecasting Kyriba enables more sophisticated cash forecasting, while simplifying the aggregation of forecast data across systems and agencies. Kyriba also provides detailed forecast variance analysis and forecasting business intelligence, ensuring that forecasts are accurate and can be confidently relied upon to improve investment returns.

Crucial Role of Small and Medium Size Enterprises (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...

Crucial Role of Small and Medium Size Enterprises (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.11"   Role of Small and Medium Businesses in Economy and Development Small and medium enterprises (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 Bank1). 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 According to the World Trade Organization2, 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 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.

Bank Connectivity and Balance Monitoring in One Powerful Dashboard Finance teams rely upon critical daily banking information for insight into cash and liquidity. Yet monitoring bank connection status, variance troubleshooting and reconciliations between bank/cash...

Bank Connectivity and Balance Monitoring in One Powerful Dashboard Finance teams rely upon critical daily banking information for insight into cash and liquidity. Yet monitoring bank connection status, variance troubleshooting and reconciliations between bank/cash balances across multiple banks can be burdensome. As the market leader in bank connectivity, Kyriba gives its customers a powerful new tool: Bank Connectivity Cockpit. Spend less time tracking down missing files Deliver easy and automated notifications Speed identification, troubleshooting, and resolution of bank reporting interruptions Automate two-way comminications with partner banks Value for Treasury and Finance Bank reporting information in the form of bank statements impacts your liquidity outlook every day. With the Bank Connectivity Cockpit, Kyriba provides an easy way to spot anomalies both for end-of-day bank statements and intraday bank statements, because the solution compares expected and actual communications. It lowers the total cost of bank connectivity monitoring, delivers successful cash positioning, and streamlines business execution. With increased accuracy of cash positions, clients are ready to take decisions on balancing, investing, and funding. Solution for Information Technology For new or existing customers, the Kyriba Bank Connectivity Cockpit is part of our holistic, integrated Bank Connectivity solution and strengthens an already leading Connectivity as a Service product with easy to use, automated and clear monitoring of a critical part of the finance information reporting system. Isolate and display exceptions only One page to monitor all bank connectivity in real time User-defined alerts Bank and account-level reports Global coverage for prior-day and intraday reports Easy to establish, reporting and automated notifications Consolidated dashboard designed to make critical liquidity information readily available to the entire Finance organization Investigate details through drill down capabilities

“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

Tuesday, May 10 | 9:00am PT | 12:00pm ET | DTMidstream, a midwest-based operator and developer of natural gas and midstream interstate pipelines, carved out a treasury business unit along with two major hurdles:...

Tuesday, May 10 | 9:00am PT | 12:00pm ET | DTMidstream, a midwest-based operator and developer of natural gas and midstream interstate pipelines, carved out a treasury business unit along with two major hurdles: standing up a treasury management system in a six month timeframe & working in parallel to an ERP implementation to meet all deadlines and interface dependencies.

Greater Integration, Connectivity and Reporting with Kyriba and BlackLine Kyriba and BlackLine are partners delivering customers greater cash visibility and reporting capabilities from the bank all the way to the general ledger. Our customers...

Greater Integration, Connectivity and Reporting with Kyriba and BlackLine Kyriba and BlackLine are partners delivering customers greater cash visibility and reporting capabilities from the bank all the way to the general ledger. Our customers benefit from this partnership through enhanced, automated bank and treasury reporting delivering access to better information. Kyriba connects BlackLine customers directly to over 1,000 banks via leading technology to include an award-winning Open API platform. Visibility to connectivity, bank reporting and status reports are all easy to access via our dashboards and widely used Bank Connectivity Cockpit. Regardless of industry, size or geographic scale, Kyriba and BlackLine integrations help organizations of all sizes streamline and speed projects for cash visibility, bank reporting and ERP upgrades or ERP migrations. The Kyriba-BlackLine partnership and collaboration helps our customers adapt and respond to the changing bank landscape through the latest technology and integrations for cash and liquidity reporting. Cost Reductions, Value for Your Organization The traditional treasury environment is very IT dependent with highly customized code bases which are not only costly, but also difficult to scale. Kyriba’s multi-bank, connectivity-as-a-service offers extensive bank connectivity as a managed service (Connectivity as a Service) with great reductions in implementation and ongoing IT costs. In fact, Kyriba’s capabilities around payments has, on average, saved customers over 120 hours per month.  

*Accepting cookies will allow the podcast player to be displayed. Optimizing Liquidity through Digital Transformation This episode features an interview with Benjamin Seal, Vice President of Treasury Services at Cenveo talking to The Invisible...

*Accepting cookies will allow the podcast player to be displayed. Optimizing Liquidity through Digital Transformation This episode features an interview with Benjamin Seal, Vice President of Treasury Services at Cenveo talking to The Invisible Vault host Daniel Shaffer, Senior Manager, Global Digital Communications & Public Relations at Kyriba. Benjamin discusses how he uses digital approaches within treasury to become a strategic business partner across an organization at all levels and being able to stay forward focused at ensuring Cenveo has the capital needed to manage day to day operations. Return to The Invisible Vault

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.

With lease accounting standards fast approaching, treasury and accounting teams are faced with significant manual effort to identify, track, account for, and audit leases to meet international accounting standards like IFRS16. Kyriba can help...

With lease accounting standards fast approaching, treasury and accounting teams are faced with significant manual effort to identify, track, account for, and audit leases to meet international accounting standards like IFRS16. Kyriba can help overcome the pain of lease accounting compliance by offering a centralized cloud portal to consolidate lease reporting, classify leases according to the new accounting rules, calculate the value of lease components, and accurately book journal entries to balance sheet accounts. Kyriba gives finance teams an easy, one-stop solution for seamlessly managing lease accounting compliance.   Kyriba’s Lease Accounting module can be subscribed to alongside solutions for cash & liquidity, payments, risk management and working capital, or implemented as a standalone solution in the cloud. As corporate finance teams begin evaluating the scope of IFRS16 compliance, they are finding that the project to centralize, value, and account for the sheer magnitude of lease contracts held by their organization and its subsidiaries will take many months to complete. Kyriba gives finance teams an easy, one-stop solution for seamlessly managing lease accounting compliance.

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.

Unleash the Power of Liquidity Management with Oracle NetSuite & Kyriba Why NetSuite Certification Matters Kyriba, certified by Oracle as “Built for NetSuite,” uses NetSuite Web Services APIs to give confidence to Oracle customers...

Unleash the Power of Liquidity Management with Oracle NetSuite & Kyriba Why NetSuite Certification Matters Kyriba, certified by Oracle as “Built for NetSuite,” uses NetSuite Web Services APIs to give confidence to Oracle customers that together we can deliver successful outcomes. Kyriba’s certified Oracle NetSuite partnership is a natural evolution of the longstanding relationship between two technology leaders, connecting Oracle’s NetSuite ERP solution with Kyriba’s Connectivity-as-aService (CaaS) to harness the power of both organisations. Kyriba’s certified Oracle NetSuite partnership connects Oracle’s NetSuite ERP solution with Kyriba’s Connectivity-as-a-Service (CaaS) to harness the power of both organisations.   Thousands of corporations rely on Kyriba to streamline key financial processes, reduce global financial and operational risk and accelerate growth through improved decision-making support. Kyriba’s centralized, cloud-based platform along with our CaaS solutions delivers integration capabilities between banks, ERPs, Financial Supply Chain components. All of which deliver better information and strategic decision-making capabilities for CFOs and their teams. Bank requirements for unique, or proprietary direct connections and regional clearing system-specific, payment formats can extend the time needed to connect some systems to your banking partners to over a year. When addressing multiple bank connections, the challenge becomes more complex and therefore requires significant effort and experience. The combination of Oracle and Kyriba unlocks unrivalled power to meet today’s biggest challenge for CFO’s and Treasurers: Enterprise Liquidity Management.   Kyriba’s proven bank connectivity accelerates this process, and relieves potential development and maintenance burdens on IT, as it already provides over 2,000 clients with out-of-the-box bank connectivity. This is supported by an extensive library of predeveloped and tested payment formats to an unparalleled network of global banks. The integration between NetSuite and Kyriba allows clients to submit and monitor payments and direct debits using NetSuite for automated integration into Kyriba Solutions.   Unparalleled Connectivity The cloud-based nature of both technologies means businesses can also leverage Oracle’s NetSuite Cloud Platform to simplify the secure connection of third-party software and provide ready access to Kyriba’s proven and unparalleled bank connectivity network. Given Kyriba’s history of Oracle NetSuite integrations, experienced teams deliver process for your IT team to efficiently export your data to Kyriba. We further simplify that improved connectivity using interfaces that support APIs and SFTPs and provide the parameters to construct an IDoc extract to allow us to manage the subsequent mapping. A single payment file from NetSuite is all that is then required to cover all banks, payment types and formats. The all-payment file runs through the Kyriba transformation engine and the required banking format is submitted to the bank, with confirmation automatically and seamlessly delivered back to the sender. The Benefits of Certification Automated Integration The integration between NetSuite and Kyriba allows clients to submit and monitor payments and direct debits using NetSuite for automated integration into Kyriba Solutions, which in turn are linked to continued processing and submissions to banks. The integration uses a standardized payment file format and relevant fields are automatically mapped to the payment files from NetSuite. Security In order to maintain security and data integrity, all vendor and customer details are only managed in NetSuite. The payee details are considered as a “one-time” third party in Kyriba, so details are not stored outside of the individual payments. This also means that invoices and receipts are created in NetSuite following the standard Payables and Receivables processes. The NetSuite platform transmits payment files to Kyriba Hub using SOAP API. Files are retrieved by the Kyriba Application and integrated into the Payment Module following the standard process. The set up in Module Data Exchange enables mapping flexibility.

Simplify Oracle Payments Kyriba Payments Network accelerates Oracle payments and bank connectivity projects, eliminating project risk and drastically reducing connectivity costs. Supporting 1,000+ Oracle customers, Kyriba centralizes payment activity, fully manages bank connectivity and...

Simplify Oracle Payments Kyriba Payments Network accelerates Oracle payments and bank connectivity projects, eliminating project risk and drastically reducing connectivity costs. Supporting 1,000+ Oracle customers, Kyriba centralizes payment activity, fully manages bank connectivity and delivers superior fraud detection and visibility to de-risk Oracle payment projects. CIOs increasingly report that new fraud prevention safeguards, generating XML ISO20022 payment format variations, building to new bank APIs and updated SWIFT gpi standards are causing significant project delays and cost overruns. Kyriba can help. Pre-built Bank Connectivity Kyriba supports more than 40,000 bank payment scenarios for more than 1,000 banks. Connectivity options include SWIFTNet through Alliance Lite2 and Kyriba’s SWIFT Service Bureau, APIs, FTP, EBICS, BACS, Editran, CBI, Zengin and other regional protocols. With the widest range of pre-built connectivity, Kyriba will connect Oracle to any bank, for any format, in any country, and manage future connectivity and format changes while monitoring connectivity performance 24/7. Protect Against Payments Fraud 88 percent of CFOs and treasury teams report internal and external attacks on their payment workflows. Kyriba Payments Network digitizes payment workflows, standardizing payment controls to comply with internal payment policies, approval procedures and limits so that only authorized payments are executed. Real-time fraud detection screens payments against government sanction lists, corporate payment policies and historical data patterns to automatically quarantine suspicious and non-compliant payments for threat assessment. Digital Payments Transformation Standardizing digital payments transformation broadens visibility and straight-through payment processing. With a user-driven interface and workflow for payments initiated outside of Oracle, along with smart payment building features, Kyriba’s Payment Hub extends security and controls for manual payments. Digital audit trails and system documented controls ensure all payment workflows are standardized with centralized visibility and control. Benefits of Oracle Payments Digital Transformation Reduce Costs and Time to Market Pre-built format library supports 800 bank format variations and 40,000 bank testing scenarios globally for 1,000 global banks, with the ability to reach up to 11,000 institutions via SWIFT Integrated global bank connectivity delivers out-of-the-box connectivity, including APIs and SWIFTNet Fraud Detection and Compliance Benefits of Oracle Payments Digital Transformation Real-time fraud detection automatically quarantines suspicious payments and anomalies for further review and digital approval Sanction list screening is fully integrated to flag problem payments, reducing false positives Payment controls ensure that all payments activity, including manual payments, are governed by digitally-enforced payment policies and standardized controls Innovation and Intelligence Payment tracking gives full visibility including SWIFT gpi compliance CFOs can easily add/change banks to reduce bank fees, simplify cross-border payments, and innovate with real-time payments Ensure new payment services, formats and standards are fully managed by Kyriba with no internal IT support or programming required Business intelligence provides finance with real-time data visualization and payment analytics to optimize payment decisions Mobile dashboard allows for access and approvals by remote users

Kyriba’s Currency Impact Report (CIR), a comprehensive report detailing the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe, revealed $12 billion in total impacts to earnings...

Kyriba’s Currency Impact Report (CIR), a comprehensive report detailing the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe, revealed $12 billion in total impacts to earnings from currency volatility.

Kyriba offers a global pre-connected, multi-bank payments network delivering accelerated payments, bank and ERP connectivity projects, mitigating fraud risk and increasing flexibility and agility for organizations of all sizes. The Kyriba Payments Network centralizes...

Kyriba offers a global pre-connected, multi-bank payments network delivering accelerated payments, bank and ERP connectivity projects, mitigating fraud risk and increasing flexibility and agility for organizations of all sizes. The Kyriba Payments Network centralizes payment activity within one Payments Hub, automating unnecessary tasks, enhancing controls through superior fraud detection and error handling, while giving customers visibility to a complete status cockpit. Kyriba Payments Network delivers our customers an enterprise-wide payment hub and the ability to centralize payment workflows. While maintaining control of cash movements in and out of the organization, the Kyriba Payments Network provides CFOs and their teams with established connectivity to the widest network of global banks, and the ability to manage payments between multiple internal systems such as ERP, Payroll, and Treasury. Kyriba Payments Network is part of an Enterprise Liquidity platform, delivering to our customers a solution with leading practices in centralizing payments workflows, reducing the risk of fraud, holistic payments governance, and optimizing the management of liquidity. Kyriba offers pre-configured connections to your banks and can consolidate payments across your enterprise using leading, flexible and scalable technology solutions. In addition to our global capabilities with long-proven FTP and SWIFT connectivity, Kyriba offers our Open API Platform which acts as a conduit between disparate teams and systems, allowing for real-time data and services across all key workflows. The Open API Platform gives organizations access to new products and services that are accessible through Kyriba’s Developer Portal, which connects FinTech developers to Kyriba’s 2,000+ global corporate clients who have integrated Kyriba into their treasury processes, enterprise payments systems, and ERP platforms. Kyriba also offers standardized payment controls with complete security and separation of duties, alongside real-time payments fraud prevention, compliance and anomaly detection, and sanctions list payment screening. Harness Connectivity-as-a-Service With corporates now at the mercy of dozens of file types, payment methods and thousands of bank variants and specifications, all of which must be specifically coded to ensure successful payment delivery, Treasury and IT often find it difficult to timely keep up. Fortunately, Kyriba’s Bank Connectivity-as-a-Service (BCaaS) approach allows Treasury teams to increase their agility to amend internal systems and 3rd parties, and also future-proof customers amidst unabated connectivity and format changes. Kyriba’s in-house developed BCaaS supports more than 45,000 bank payment scenarios for over 1,000+ banks, while delivering a deep, regularly updated library of formats and connectivity standards to easily access both internal systems (ERPs, etc.) and 3rd parties (banks, bureaus, etc.). With the pre-built bank connections and pre-configured payment formats housed within Kyriba, internal IT resources are no longer needed to build and maintain bank connections, giving treasury teams the freedom to change existing bank relationships, quickly scale their business operations by adding new banks, and have the flexibility to effectively update bank formats - including harmonization to ISO standards. The flexibility to update bank formats and change bank relationships allows corporates to see an increase in bank agility, which provides benefits when organizations are looking to make changes quickly. Being able to make changes on the fly not only empowers teams to implement instant updates, but also ensures that new processes will not disrupt daily workflows and productivity. The ability to scale business operations with new banks allows organizations to expand into new, global markets and better support M&A initiatives. Ultimately, enabling organizations with more agility and scalability supports executive leaders to have more confidence in their decision making to continue to grow their respective businesses. While simultaneously providing 24/7 monitoring of connectivity performance, Kyriba’s BCaaS can also accelerate internal projects, such as ERP upgrades or implementations, by avoiding significant project delays and cost overruns that are a real threat for the implementation of new fraud prevention safeguards. Some of these include generating XML ISO20022 payment format variations, transitioning to API-based bank integration, and updating SWIFT gpi standards. Kyriba’s BCaaS offering provides unparalleled connectivity between enterprise payment systems and payment channels, to ultimately allow organizations to incorporate existing, disparate systems and to scale their business for the global growth they want to see. Digitize To Simplify Payment Workflows By centralizing payment processes, corporations can broaden visibility while standardizing and simplifying payment workflows, thus reducing manual intervention and operating costs. Smart payment netting and routing capabilities help to minimize transaction costs, while supporting dynamic discounting programs and maximizing the utilization of regional cash pools. Kyriba Payments Network extends security and controls for payments with system documented reports and digital audit trails. It delivers on-demand payment configuration, synchronized account signatory management, and strengthens business intelligence for better, informed decision-making. It holistically applies best practice workflows to ensure transparent monitoring and reporting via intelligent, pictorial dashboards, thus enabling finance functions to control and optimize the movement of enterprise wide cash with ease. Strategic payments optimization can now be a dynamic vehicle for ongoing operations, growth and value creation. Prevent Payments Fraud Real-time fraud detection automatically screens payments against government sanction lists, corporate payment policies, and historical data patterns. Kyriba Payments Network Fraud Detection extends the effectiveness of standard payment controls to include real-time detection that stops suspicious payments in their tracks. The module includes customized scoring, centralized alerts, a complete workflow for resolution management, and data visualizations through a drill down KPI dashboard. This ensures only authorized transactions are executed, thus addressing a concern that most CFOs and Treasurers have about potential internal and external attacks on their payment processes. Real-time fraud detection will also screen payments against government sanction lists, corporate payment policies, and historical data patterns. These Kyriba tools strengthen existing controls by automatically quarantining suspicious and non-compliant payments for threat assessment. Kyriba Payments Network enables achievement by CFOs and their organizations: 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

*Accepting cookies will allow the podcast player to be displayed. Assessing Risk Through Data-Driven Insights This episode features an interview with Danielle Murcray, CFO at AttackIQ talking to The Invisible Vault host Daniel Shaffer,...

*Accepting cookies will allow the podcast player to be displayed. Assessing Risk Through Data-Driven Insights This episode features an interview with Danielle Murcray, CFO at AttackIQ talking to The Invisible Vault host