Success Stories

Lifespace Communities Sees Immediate and Significant Savings with Kyriba

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.

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