Videos

Inotiv’s Journey to Enhanced Treasury Management with Kyriba

Inotiv is a life sciences company specializing in the discovery, safety, and assessment of preclinical drugs. The organization focuses on providing critical services that support the development of pharmaceuticals, offering expertise in scientific research and laboratory services. Inotiv aims to advance medical knowledge and enhance drug development processes, contributing to the creation of safe and effective therapeutic solutions.

Overcoming Challenges with a Seamless Implementation

Inotiv embarked on a significant transition to enhance its treasury management capabilities. With a complex Excel-based cash forecasting model that required updates multiple times a week, Inotiv needed a more efficient and strategic solution. Drawing on his prior experience, Benjamin Seal, Director of Global Treasury and Risk Management, initiated the implementation of Kyriba’s Treasury Management System (TMS) to digitize and streamline their processes.

This strategic shift was aimed at achieving real-time liquidity visualization and freeing up valuable time for more strategic initiatives. The Kyriba team’s dedication and expertise played a vital role in ensuring a smooth implementation, setting Inotiv on a path to success with improved operational efficiency.

“The transition from a manual process to the digitization of treasury with Kyriba means we can finally achieve the same-day liquidity visualization we need instead of spending our time manually populating forecasts."

Collaborating to Enhance Strategic Capabilities

As Inotiv transitions from manual processes to a digital treasury environment, the collaboration with Kyriba has been pivotal. The integration of Kyriba’s TMS allows Inotiv to leverage AI and automation, significantly reducing the time spent on cash forecasting and enhancing accuracy.

This transformation enables the treasury team to become a strategic partner for the company’s C-Suite, providing insights and support for crucial financial decisions. The partnership with Kyriba has not only streamlined operations, but also positioned Inotiv to take advantage of new opportunities and challenges in the life sciences industry.

“Kyriba's customer service is amazing. Within minutes of an issue, not only did we have our email returned and a phone call, but I was shown exactly how to fix it myself, empowering us to manage challenges independently next time. I love just the liquidity position that it gives you and how it gives you more of a strategic partner with the C-suite.”

Advancing Treasury Excellent through Partnership

The collaboration between Inotiv and Kyriba exemplifies the impact of strategic partnerships on achieving financial excellence. The importance of this relationship is highlighted by the exceptional customer service and value of having a reliable partner in Kyriba.

By automating routine tasks and providing real-time insights, Kyriba empowers Inotiv to focus on strategic growth and development. This partnership highlights the potential for innovation and success when organizations align their goals with cutting-edge technology solutions, setting a new benchmark in treasury management.

“Kyriba's product is not just something you want; it's a tool that enhances your career and life, offering user-friendly modules that deliver excellence and confidence.”

View all videos