The complex nature of global bank connectivity is often cited as one of the most difficult, time-consuming and riskiest component of an ERP deployment or cloud migration – putting a heavy burden on IT.
"As a small team, we needed a secure, robust and scalable solution that integrated well with our systems ... We found that among other technology partners, Kyriba was best aligned to support our needs."- Johan Bergqvist, Spotify VP, Corporate Finance & Treasury
Why Digitised Connectivity is the Key to Optimising Cash Deployment
As Ruth Porat, CFO of Alphabet, has said, “There’s no question that liquidity is sacrosanct.” Companies that can identify and use cash with confidence can now leverage liquidity as an asset for strategic value creation. It’s a competitive advantage that has often been overlooked, or not available.
Treasurers in the retail industry need in-depth insight into foreign exchange exposures and consolidated forecasting in order to be more strategic.
Many retail companies are challenged by the confusion that comes with an influx of invoices from multiple overseas vendors, the global scale of manufacturing operations and sales, and seasonal cash flow that can complicate forecasting. To help solve these challenges, Kyriba provides:
Clarity into Payments & Processes
Kyriba tracks which invoices have been paid, the amount and the timing of each payment to help avoid confusion.
Comprehensive FX Exposure Management
Kyriba’s FX management solutions supports pre- through -post trade activities and helps mitigate impacts on earnings.
Kyriba gives companies the ability to easily consolidate forecasts and measure their accuracy.
We are able to see our whole cash forecast internationally, really utilise it and be efficient in our way of using cash.”
Source: Data compiled from surveying more than 200 companies as part of Kyriba's value engineering process.
Addressing Supplier Challenges with Reverse Factoring
After the global financial crisis in 2007, Auchan’s suppliers asked if invoices could be paid sooner so that they could secure bank financing on acceptable terms.
Learn how, after the global financial crisis in 2007, Auchan set up a successful reverse factoring programme (also known as supply chain finance) with more than 15,000 supplier participants to pay invoices sooner, resulting in a 47 percent increase in financing requests.