Otis: FX Optimization Award Runner Up

This award, sponsored by Kyriba partner and client Oanda, honors the company that has embraced Kyriba’s FX module, and made great strides in managing FX exposure and risk.

Challenges

• Very complex FX Hedging program in order to protect the company against adverse currency movements after elevator contracts, which require material purchases in several currencies, are entered.

Solution

• API connection of Otis’s homegrown FXR and ILR apps to Kyriba’s FX for Pretrade import.
• Kyriba’s FX Cash Flow Datahub.

Results

• Sped up the process by leveraging Kyriba’s open API capability for financial transactions, which they used to connect the homegrown FXR application directly to Deal Capture in order to receive pretrades as well as to send back a custom-built matching file.
• Cut time to execute the FX program by over 50%.

Kyriba’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!