Success Story

Lifespace Communities Sees Immediate and Significant Savings with Kyriba

Happy mixed race senior men and woman using laptop

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.

“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.

Table of Contents

Before Kyriba
Main Drivers to Kyriba
Modules Implemented
What’s Next

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

Locations 14 Communities, 7 States
Annual Revenue $350M
Industry Not-for-Profit Senior Living
Employees 3700+