Success Story

National Veterinary Associates: Treasury Transformation Award Runner-Up

Awarded to the company that embraced technology for optimal transformation and efficiency of their treasury department. Nominated by Elire and PWC.

Kyriba Live 2023 Liquidity Excellence Awards with NVA

Challenges

  • Goal was to streamline banking structure by 75% to increase control over cash, reduce cots and optimize liquidity management globally.
  • Started with over 160 banks and 1,700 bank accounts to support their growing practice of over 1,400 veterinary clinics, hospitals and pet resorts worldwide.

Solution

  • Cash position worksheets focusing on account grouping by departments, budget codes, and Regions, fulfilling requirement to capture data from Bank transactions and categorize them based on sub accounts found within the description.
  • Implemented a more scalable strategy to unlock trapped cash, mobilize liquidity, reduce vulnerability to rising interest rates, and standardize treasury and payment controls with Kyriba.

Results

Achieved close to 100% visibility into their day-to-day activities:

  • Automated and achieved 98% visibility to cash
  • Reduced bank portals and centralized all processing onto Kyriba
  • Automated accounting reporting
  • Complete digital integration of debt and FX, reducing FX risk exposure

“Kyriba was used as the technology engine that powered this impressive transformation for NVA, achieving 98% visibility into cash, reduced bank portals and centralized all processing.”

 

kyriba liquidity excellence awards logoKyriba’s Liquidity Excellence Awards recognize clients, both at the corporate and individual level, for excellence in Treasury, Finance and Cash Management. Winners are nominated by their peers and partners, and are announced at KyribaLive, Kyriba’s annual user conference. Nominating partners also receive acknowledgement for their contribution to these clients’ successes.

Company awards recognize outstanding performance across six award categories: Treasury Transformation, Achievements in Productivity, FX Optimization, Payment Innovation, Working Capital, and Implementation the Year.

Recognition is also given to individual contributors for outstanding performance across four award categories: Peak Performer, Pivotal API, Data Demon, and Elevated Visibility.

Check out our complete list of 2023 Liquidity Excellence Award Winners. Congratulations to all!