Kyriba Launches New Working Capital Solutions to Close the $3.4 Trillion Trade Financing Gap
October 14, 2021
The Company’s Investments Increase Access to Liquidity to End Supply Chain Risk
SAN DIEGO – October 14, 2021 – Kyriba, (“The Company”) a global leader of cloud-based finance and IT solutions, announced the launch of new Kyriba Working Capital Solutions as part of its bold effort to close the reported $3.4 trillion trade financing gap1 and help corporate buyers support all suppliers, especially at risk SME suppliers. The Company further invested in its Working Capital Solutions team and is rapidly growing its marketplace of global funding partners to improve access to liquidity amid a historic disruption to international trade.
“The pandemic has created unprecedented risk in global supply chains. Suppliers are being crushed financially as they wait the additional weeks and months it now takes to get products to market,” said Jean-Luc Robert, Chairman and CEO of Kyriba. “Our solutions help mobilise liquidity, injecting cash into supply chains so global suppliers receive the financial lifeline they need to survive.”
Kyriba has launched new capabilities to help buyers accelerate access to liquidity and mitigate supply chain risk with greater flexibility, certainty, and corporate responsibility.
- Flexibility: Kyriba helps deploy liquidity from the most efficient sources at different stages of the trading relationship with supply chain finance, dynamic discounting, and a newly announced purchase order financing. The Company is also launching a receivables financing platform to further help CFOs enhance and modernise their enterprise liquidity programmes.
- Certainty: The Company’s integrated cash forecasting solution increases the precision of cash and working capital projections, enabling finance and treasury teams to optimise their use of internal and external cash pools to unlock additional liquidity for suppliers across the globe.
- Sustainability: Kyriba’s Working Capital Solutions offer greater access to affordable capital for all suppliers and offer the capacity to supplement CSR and ESG programmes, enabling buyers to more easily work with businesses that are sustainability minded.
“Kyriba is removing barriers to adopting working capital solutions that improve the access to liquidity for SMEs,” said Abhijit Prasad, SVP Working Capital Finance at Kyriba. “We have invested in our team, delivered product innovation, and added new global funding partners to deliver even greater capacity to serve the growing demand for working capital solutions anywhere in the world.”
Kyriba’s Working Capital Solutions were recently awarded by Global Finance Magazine as the 2021 global winner of Best Supplier Enablement for its automated and transparent supplier onboarding operations. In the past 12 months, Kyriba facilitated more than $7 billion in early payments across 1.5 million invoices to over 50,000 suppliers in 50 countries. In 2021, the Company expects financing to exceed $10 billion – a more than 40% increase over 2020.
For more information about Kyriba’s Working Capital Solutions, visit Kyriba.com/workingcapital or visit us at upcoming Trade Finance conferences, including the Working Capital Forum in London on October 14, 2021 and the GTR conferences in London, Stockholm and New York.
Kyriba empowers CFOs, Treasurers, and their IT counterparts to transform treasury, payments, working capital, and connectivity solutions to activate liquidity as a dynamic, real-time vehicle for growth and value creation. Kyriba is a secure, scalable SaaS platform that leverages artificial intelligence, automates payments workflows, and enables thousands of multinational corporations and banks to maximize growth, protect against loss from fraud and financial risk, and reduce operational costs. With 2,000 clients worldwide, including 25% of Fortune 500 and Eurostoxx 50 companies, Kyriba manages more than 1.3 billion bank transactions per year, and 250 million payments for a total value of $15 Trillion annually.
Kyriba is headquartered in San Diego, with offices in Dubai, Frankfurt, London, Minsk, Paris, Shanghai, Singapore, Tokyo, Warsaw and other major locations. For more information, visit www.kyriba.com.
1 Global trade now faces a $3.4 trillion financing gap - CNBC
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