VIEWPOINT
Treasury Transformation: the trendsetting force Kyriba TMS is a leading cloud-based TMS platform that is used by more than 2,000 global organizations. They have an effective innovative solution and the ways it transforms treasury management.
Manoj Panicker AVP, Treasury Transformation
What is Kyriba TMS?
T
he treasury operations of a company are crucial, specifically with regard to cash liquidity, which is the most critical aspect. CFOs understand that their treasury teams must manage critical tasks such as accurate forecasting of cash flows, operational efficiency, fraud prevention, compliance, optimizing working capital, and FX risk management to maintain their organisation’s health. The performance of the treasury team directly impacts the bottom line.
Challenges in Manual Process: As per the survey taken by Kyriba – the leading Treasury Management Solution and later got published in Global Treasurer, they observed that global treasury teams are wasting an average of 4,812 hours per year using traditional spreadsheets to manage their cash, payments and accounting operations.
Treasury Transformation Automating corporate treasury is becoming increasingly important as businesses look to streamline their operations and reduce costs. Automation can help improve efficiency, reduce risk, and increase visibility into financial operations. The Wall Street Journal published a seemingly innocuous article entitled, “Stop Using Excel, Finance Chiefs Tell Staffs,” in which CFOs lamented the time their teams waste on spreadsheets, including pulling data from disparate systems, instead of engaging in more strategic initiatives.
08
EC JUNE_2023.indd 8
MEA
Kyriba TMS is an all-in-one, cloud-based platform that helps organizations optimize their cash and liquidity management, manage financial risk, and automate their financial operations. It provides a suite of modules that support treasury management, payments, risk management, supply chain finance, and working capital optimization. Kyriba TMS integrates with a wide range of systems, including banks, ERPs, and trading platforms.
Features and Benefits of Kyriba TMS:
1. Cash and Liquidity Management Kyriba TMS provides real-time visibility into an organization’s cash positions across all bank accounts and currencies. The platform’s robust cash forecasting capabilities help businesses make more informed decisions about funding, investment, and liquidity management. Additionally, Kyriba TMS enables organizations to automate their cash management processes, including payments and bank account reconciliation. 2. Risk Management Kyriba TMS provides robust risk management capabilities to help businesses mitigate financial risk. Its treasury risk management module enables organizations to monitor and manage market, liquidity, and credit risk in real time. It also provides tools for creating and managing financial hedging strategies. 3. Payments Kyriba TMS streamlines the payments process by providing a single platform to initiate, approve, and track payments. The platform supports a wide range of payment types,
including bank transfers, cheques, ACH, and wire transfers. Businesses can also take advantage of the platform’s built-in fraud detection and prevention tools. 4. Supply Chain Finance Kyriba TMS provides supply chain finance capabilities that allow businesses to extend payment terms to suppliers while improving their working capital. The platform enables organizations to provide early payment options to their suppliers in exchange for discounts. 5. Working Capital Optimization Kyriba TMS provides a range of tools to help businesses optimize their working capital. The platform’s cash visibility and forecasting capabilities enable organizations to identify opportunities to improve cash flow. 6. Enhanced Security Kyriba TMS offers enhanced security features to protect businesses’ financial data. Kyriba TMS (Treasury Management System) offers a range of enhanced security features to protect sensitive financial data and prevent unauthorized access. 7. Kyriba Connectivity service Kyriba’s Connectivity as a Service gives our customers a complete connectivity solution encompassing ERPs, internal financial systems, third-party providers, and over 1,000 ‘out-of-the-box,’ pre-configured, pre-tested connections with financial institutions across the globe. Kyriba’s solution includes application processing interfaces (APIs) delivering realtime integration, payments and reporting. As Treasury Automation helps treasury teams to harness more data and employ more analytics, those teams will become more strategic and capable of meeting their CFOs’ expectations. And companies will enjoy improvements in free cash flow, cash usage for working capital, productivity and efficiency, investing and borrowing performance, and reduced risk exposures. ë
J U N E 2023
6/16/2023 5:26:17 PM
