Qualcomm, Inc. is a $15 billion designer and manufacturer of digital wireless telecommunications products and services based out of San Diego, CA. Founded in 1986, it employs over 17,500 employees.Download PDF
“The Kyriba personnel that we have been in contact with have been experts in their field. Not only do they know the product very well, but I have found that their Treasury expertise has been excellent and very helpful when implementing the system. They have been able to advise on all facets of the system and suggest ways to improve current processes.”
Qualcomm spent a significant amount of time on manual processes and had outgrown the use of Excel spreadsheets to manage cash and bank accounts. The monitoring of international bank account activity and investment of excess cash within their international entities was a key area for process and control improvement.
Compared to the other solutions Qualcomm reviewed, they preferred the functionality offered by Kyriba – particularly the cash forecasting capabilities, flexible reporting, and the intuitive user interface. Qualcomm also liked the Software-as-a-Service model compared to both the installed solutions and ASP offerings, as they wanted a pure web solution that eliminated the need for internal IT resources.
Qualcomm has successfully implemented Bank Reporting, Cash Positioning, Cash Forecasting, GL Posting and identified Payments, Bank Fee Analysis, and Bank Account Management as Phase 2 items.
To aid with Sarbanes-Oxley requirements, Qualcomm has significantly improved their audit and control mechanisms – key to their internal treasury audit. Transparency of user access and full segregation of duties within the organization were the top improvements. Qualcomm also expects to take advantage of the dual-administration features of the Payments module and the ability to provide an audit trail on bank account signatory activity.
Technology and IT
The Kyriba platform has worked flawlessly since Qualcomm implemented the solution, including when the upgrade to new versions, which requires no user involvement. While Qualcomm did require an IT resource to provide the specifications for file import into the Oracle GL module, they have been working without internal IT support of any kind and absolutely no hardware was purchased.
Qualcomm, Inc. is a $15 billion designer and manufacturer of digital wireless telecommunications products and services based out of San Diego, CA. Founded in 1986, it employs over 17,500 employees.
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