Kyriba Receivables Finance Will Provide Companies With a Real-Time Tool to Accelerate the Cash Conversion of Their Receivables With One Click, While Improving Visibility on Their Liquidity
SAN DIEGO–(BUSINESS WIRE)–Kyriba, the global leader in cloud-based financial and IT solutions, has today announced the launch of Kyriba Receivables Finance. The solution provides finance teams with greater control over factoring or securitization programs as well as enabling selective invoice financing. The multi-funder solution integrates all vendor programs into a single platform, providing a real-time overview of credit facilities, utilization, limits, and program performance.
�A lot of companies die despite their profitability, because they don’t have the tools to manage or inject cash into their company. In 2023, corporate insolvencies are expected to grow by +19% globally1, due to higher energy prices, and rising interest rates and wages. The speed with which companies can convert their receivables is essential for their survival: the faster the conversion, the less working capital required to support the business, said Bob Stark, VP Strategic Marketing, Kyriba.
Multiple-Funders Solution to Help CFOs and Treasurers Manage End-to-End Receivable Finance Programs
Kyriba Receivables Finance enables CFOs to release funds tied up in unpaid accounts receivables, quickly convert them into cash and optimize decision making, said Edi Poloniato, Head of Working Capital, Kyriba. This solution enhances the control of financial departments over financial risk, automates the end-to-end process and reduces operational costs, while offering a single funder agnostic platform.
The solution automatically pulls invoices from one or multiple ERPs, identifies eligible documents based on each funders criteria and dispatches them to the different financial institutions while continuously updating ERPs on both status and accounting.
Key Features of Kyriba Receivables Finance:
This module is available for corporates, large and medium companies, as well as financial institutions in white-label solution.
About Kyriba Corp:
Kyriba empowers CFOs and their teams to transform the way they activate liquidity as a real-time, dynamic vehicle to grow and create business value, while protecting against financial risk.
With 2,500 customers worldwide, 20% of which are Fortune 500 companies, and 25 million payments processed daily, Kyriba’s platform connects internal treasury, risk, payment and working capital applications to vital external sources such as banks, ERPs, trading platforms and market data providers. Based on a secure and scalable SaaS platform that uses artificial intelligence, Kyriba enables thousands of businesses around the world to maximise growth opportunities, protect against losses from fraud and financial risk, and reduce costs through advanced automation.
Kyriba is headquartered in San Diego, with offices globally. For more information, visit www.kyriba.com.
1 | Source : Allianz Trade Global Insolvency Survey, May 22 : https://www.allianz-trade.com/en_global/news-insights/economic-insights/global-insolvency-report-2022.html |
Contacts
Kyriba Media Contacts:
Americas
Daniel Shaffer
dshaffer@kryiba.com
+1 858-263-2219
EMEA
Caroline Peyrat
caroline.peyrat@kyriba.com
+33 6 33 37 29 20
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