Cooke Aquaculture, a global leader in aquaculture and seafood production with nearly 15,000 employees and operations spanning 15 countries, sought a strategic solution to enhance treasury operations and optimize its financial performance. By selecting Kyriba, they embarked on a transformation that not only improved key metrics but also firmly positioned treasury as a strategic business partner within the organization. Kyriba’s commitment to success empowered Cooke to achieve remarkable results through enhanced visibility, actionable insights, and operational automation.
Kyriba empowers clients through complete visibility, real-time data integration, and advanced capabilities, helping Cooke transform financial practices and achieve measurable outcomes.
Performance highlights
Unparalleled treasury maturity growth
Before implementing Kyriba, Cooke’s treasury maturity score averaged 1.93 on a 4-point scale, indicating manual, ad-hoc practices with unstructured processes. After adopting Kyriba, their score increased significantly to 3.57, reflecting a shift toward standardized and strategic operations with enhanced automation and real-time capabilities. This 88% improvement not only streamlined their processes but also positioned them 23% above peer benchmarks. This leap illustrates Cooke’s transformation into a highly effective treasury function, fueled by automation, insightful data integration, and informed decision-making.
Real-time cash visibility and control
Prior to Kyriba, Cooke faced limited cash visibility. After leveraging Kyriba’s liquidity performance platform, visibility jumped to 100%, a 54% improvement that allowed superior liquidity management and optimized yield on cash, resulting in better margins for the business.
Enhanced Forecasting and Productivity
Kyriba significantly strengthened Cooke’s forecasting capabilities, improving accuracy to around 90%, ensuring confident decision-making backed by reliable predictions. With Kyriba’s automated processes, internal teams at Cooke could reduce risk and focus on high-value activities. Additionally, treasury productivity saw a dramatic shift, with annual manual workloads decreasing by 83%, from 8,320 hours pre-Kyriba to 1,414 hours post-Kyriba. This dramatic reduction allowed Cooke’s treasury team to redirect resources to strategic initiatives, further amplifying their impact.
Strengthened compliance and streamlined connectivity
Cooke leveraged Kyriba’s secure, encrypted platform to enhance compliance through best-practice user authentication, systematic workflow controls, and AI-driven fraud detection. These measures ensured robust sanction screening, improved audit trail reporting, and regulatory alignment. Furthermore, Kyriba’s Bank Connectivity-as-a-Service (BCaaS) streamlined banking operations by automating file format transformation, encryption, and 24/7 monitoring. This reduced reliance on manual bank portal access, improving both efficiency and security.
Conclusion
Through Kyriba’s technology and value-driven commitment, Cooke Aquaculture transformed its treasury operations into a model of efficiency, control, and strategic insight. Achieving unmatched gains in cash visibility, forecasting accuracy, and operational productivity, Cooke is now positioned to capitalize on future growth initiatives. Kyriba stands proud as a trusted partner, ensuring continued success for Cooke Aquaculture and reinforcing its leadership in treasury transformation.
“With Kyriba, we’ve achieved real-time cash visibility and improved forecasting accuracy. As we continue implementing the Liquidity Planning Module, we aim to reach up to 90% accuracy, further strengthening our liquidity management and decision-making.”
— Brahim Amine, Senior Manager, Global Treasury, Cooke Inc.
About
Cooke Aquaculture Inc. is a family owned and managed company that has operated a sustainable aquaculture business in Atlantic Canada for over 35 years.
Founded
1985
Headquarters
Saint John, New Brunswick, Canada
Industry
Aquaculture
Employees
10,000+
