Payment Management

Payment processing and execution are critical functions for most corporate treasury departments. Ineffective management of these activities can directly impact cash visibility and accuracy, reduce operational efficiencies, increase difficulty in complying with regulatory requirements, and introduce the risk of fraud.

With Kyriba’s Payment Management solution, organizations can leverage automated workflows to initiate, approve and release payments that meet internal and regulatory requirements, including Sarbanes-Oxley, to any of their banks, via the Kyriba Global Connectivity Hub.

Payment Management provides a comprehensive set of integrated solutions, giving organizations of any size a level of control and confidence in their payment process which is unmatched by other vendors.

The solution offers clients a seamless end-to-end customer experience (everything between the browser and the bank), delivering a secure, reliable, and consistent payment process that insures payments are secure and executed with confidence, while minimizing exposure to fraud.

Payments
Kyriba’s Payment Management solution empowers organizations to initiate, approve and release payment instructions that are encrypted to corporate banking partners. Payments can be initiated as free-form by template, via import from ERP, or through integration with other Kyriba capabilities such as netting, financial transactions, or trade solutions.

Payments are routed through multiple levels of approvals based on payment characteristics such as amount, payment type, counterparty and other options. Payment approval reminders can be automatically emailed and approvals can be made from any browser or through an iPad or iPhone, via the Kyriba mobile app. Multiple payment types, including SEPA compliant, are supported with acknowledgements received from the bank to ensure that the entire end-to-end process is under control. Examples of payment types supported by Kyriba include: Fedwire, ACH, Chips, SWIFT and other international formats.

Payment Factory
Kyriba’s Payment Factory enables organizations to centrally manage the payment workflow and straight through processing to banks. With Payment Factory, organizations can also implement shared services ‘payments on behalf of’ (POBO) models for all payment types.

Netting
Kyriba’s netting capability optimizes intercompany and payment activity through multilateral, payablesbased or receivables-based invoice netting. Netting imports invoices from ERP or other sources and integrates with Kyriba inter-company and payments capabilities. Netting simulations can be executed allowing all participants to review and amend their respective positions, with disputes identified and managed via an approval workflow.

Direct Debit
Kyriba supports direct debit execution, leveraging the Kyriba Global Connectivity Hub. Direct debits can be used for cash pooling purposes or as a receivables collection engine.

Draft Payables
Kyriba manages draft payable workflow of message acknowledgement, approval and bank communication process for countries where draft payables are supported.

Draft Receivables
Kyriba manages draft receivable workflow of message acknowledgement, approval and bank communication process for countries where draft receivables are supported.

SEPA Mandates
Kyriba is SEPA-compliant, allowing mandates to be electronically signed by the payer, to authorize the biller to collect a payment and to instruct the payer’s bank to pay the agreed collections. Mandate documentation is securely stored and accessed for verification. Kyriba supports the regulated expiration of mandates which blocks the direct debit from being initiated in the payment management workflow.