Technology Integration Transforms Adobe’s Treasury


  • Founded
    1982
  • Headquarters
    San Jose, CA.
  • Industry
    Computer Software
  • Revenue
    15.78 Billion (2021)

Adobe is experiencing substantial growth with a goal of creating a world-class treasury organization and to build a platform that would sustain it throughout the next decade.

“This was a very open-minded collaboration where we said, ‛let’s not think about what we have been doing for the past 15 years, but let’s think about what is absolutely needed and how can we design it to be the best system.’”

Susan ChanDirector of Treasury Operations for Adobe

Key Challenges Before Kyriba

  • With no TMS in place, Adobe managed Treasury —$5.5B in cash through 138 bank accounts —through spreadsheets
  • 125 global users manually logging into 10+ banking portals daily
  • Digital and hard token logins created a heavy administrative and security burden
  • Reporting entailed downloads in varied formats and manual customized reporting

Treasury Transformation Objectives

  • One-stop shop for all banking activities with a full cash and liquidity view
  • Centralized payments platform fully integrated into ERP (SAP)
  • Scalable solution that is able to absorb new businesses and scope
  • Secure system that provides full audit trails

“We embarked on a journey to look for a TMS, and we ended up selecting Kyriba because it met our requirements… and it has a user-friendly UI, as well as a robust product roadmap. Having one, centralized system for everyone—for all the bank accounts especially—is quite a dream.”

Susan ChanDirector of Treasury Operations for Adobe

Adobe Treasury Wins with Kyriba Positive Business Outcomes

12 Functional Teams at Adobe Engaged Throughout the Project

Liquidity Management

  • Retired Accelerate workbook and automated daily management reports
  • Created a consolidated view for 100% visibility into global cash and liquidity
  • Eliminated manual tracking and settlement process of investments and debts
  • Automated Intercompany funding process for time saving and enhanced control
  • 180 bank and investment account balances integrated
  • ICD Integration for money market trades and settlements details
  • SAP integration for daily FX and AP forecasting

Payments

  • Achieved payment processing via one system
  • Real-time fraud detection applied to payments processed in Kyriba
  • 5 banks connected for a secure, automated process for ad-hoc payments
  • Ad-hoc wire requests routed from ServiceNow ticketing workflow
  • 300+ payment scenarios globally tested and live
  • 50 SSIs and 116 repetitive payment templates maintained

Accounting

  • Reduced risk of errors by replacing most of BOT and wire forms with Kyriba daily GL export
  • Increased number of accounts reconciled through Blackline integration, with bank statement forwarding from Kyriba
  • Centralized and streamlined the process for Treasury transactions accounting entries
  • Month-end accounting entries for investment and debt are auto-generated and sent to SAP

Bank Account Management

  • Centralized repository of 24 signers tracked and 8 bank letter templates maintained
  • 4 Banks connected for bank fee statement reporting and proactive fee management
  • FBAR reporting information generated from Kyriba
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