Şişecam is one of the world’s leading glass manufacturers, operating in 14 countries with more than 70 bank connections and a combination of SAP and non‑SAP systems. For Director of Treasury Barış Gökalp, this scale created operational complexity and increased risk.
“Our payment operations were fragmented,” Gökalp recalls. “Some were processed through internet banking, some via STP, and some manually. It was difficult to manage, and there was no fraud detection.”
This environment prompted the search for a platform that could centralize treasury operations, strengthen control, and reduce exposure to fraud.
A fragmented and high-risk treasury landscape
Before partnering with Kyriba, Şişecam faced several structural challenges:
No real‑time visibility into cash across entities and banks.
Manual processes leading to errors, delays, and bottlenecks.
Lack of centralized fraud governance.
Difficulty identifying and evaluating exposures and associated risks.
Centralized control and automation Kyriba
After extensive market research and participation in industry events such as EuroFinance, ACT, and AFP, Şişecam selected Kyriba. A trusted advisory team in Turkey already familiar with Şişecam’s needs and experienced with Kyriba played an important role in the decision.
The implementation began by addressing the most urgent issue: communication. “We started by solving the communication challenge through corporate SWIFT. Then we decided to implement a TMS,” says Gökalp.
Şişecam’s transformation with Kyriba progressed in three strategic phases:
Real‑time cash visibility: The first milestone was account visualization. “Knowing how much money I have in my pocket each morning helped us tremendously.”
Payment discipline and automation: Şişecam centralized and standardized payment processes. “Today, 95% of our payments are executed through Kyriba with no human touch.” The end‑to‑end automated workflow—from SAP to Kyriba for approval and then to the bank—also automated accounting entries.
Proactive fraud detection: Kyriba’s fraud detection module added a critical layer of protection. “There are rules that stop a transaction even before it reaches the bank. We keep the ball in defense,” Gökalp explains.
“Kyriba’s fraud detection module helps us sleep more comfortably at night.”
— Barış Gökalp, Director of Treasury, Şişecam
A defining moment: demonstrating transformation in real-time
The impact of the transformation became undeniable when Gökalp demonstrated Kyriba’s Liquidity Performance Platform to Şişecam’s Chairman. Initially skeptical, the Chairman watched a payment being approved and executed in just 30 seconds.
“When I showed him the screen, he gave the approval, and the payment was completed. That was the moment.”
This experience significantly strengthened internal trust. “Whatever we propose now, we get approval because it’s proven. He saw the balances, he saw the payments. This gave us a lot of credibility.”
A disciplined, secure, and award-winning treasury
Şişecam’s digital treasury transformation has been widely recognized, including Gökalp being named Adam Smith Corporate Treasurer of the Year (2025), an honor he accepted on behalf of Şişecam and his team.
Key outcomes include:
Complete cash visibility across all entities and banks.
Centralized payment discipline with 95% STP.
Enhanced security through proactive fraud detection.
Operational efficiency enabling focus on AI, forecasting, and optimization.
With these foundations in place, Şişecam is now extending Kyriba for Liquidity Planning and API connectivity, and plans to continue co‑developing solutions to expand Kyriba’s impact.
“As automation removes us from day‑to‑day operations, it gives us back valuable time,” Gökalp concludes. “That allows us to think about more automation, more AI, more forecasting.”
