GTreasury in Lake Zurich offers their treasury management system for funds and transfer management, liquidity tracking, customizable accounting rules with ERP integration, and other liquidity management features.
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Kyriba
Score 8.9 out of 10
Enterprise companies (1,001+ employees)
Kyriba empowers CFOs, Treasurers and their IT counterparts to transform 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. Kyriba states that for…
Simple and far more user-friendly than most other TMS applications I have used in the past. Very strong core TMS foundation and functionality. Addressing some of the known issues and shortfalls would go a long way in taking a much bigger market share from some of the other …
As I stated, I was not a part of the process to select a TMS, but I do know that several were evaluated back in 2014 I believe. The final candidates were GTreasury and Kyriba. Kyriba was selected in large part to having the more dynamic capabilities for a global organization …
Cenveo evaluated multiple Treasury Management Systems; however, Kryiba was the only one that could provide us with the solution for our AP payments. Cenveo required the TMS to allow at least 2 levels of approval in selecting and paying vendors at the invoices level & clearing …
I've outlined all the reasons previously. Cost, Experts in TMS with one line of business, large enough to have the resources to improve, but small enough to be nimble and quick with upgrades and changes after listening to the clients.
It is well-suited for providing information about what cash is available and its future outlook of it. It helped us to link the multiple bank accounts that we have globally into one consolidated location. We were then able to ensure that we had the cash required to meet the various business needs that we have.
10 points for Kyriba is the least we can give you as we have achieved many cash management benefits. Today we don't have the same problems as when we didn't have Kyriba. It improved the payment relationship with our suppliers and provides us with detailed reports of all the financial processes that are carried out in bank management, we recommend it and we will use it indefinitely.
[In my opinion, the] reporting functions are not user-friendly and [are] very confusing.
[I also believe that the] financial accounting module is also not user-friendly.
Operator security - [In my opinion,] the admin is confusing to set up new groups. Some languages in there were either no longer valid or changed. [Also, I believe that you] cannot disable users unless you move them to disable group. [I feel like it's] a bit weird.
Customer service support - [I feel it has] gotten better but [I, personally,] hope to see more improvement and timely responses.
[I believe] the location of certain functions is confusing as well. [In my experience,] I usually have to go to [the] search bar to search for what I am looking for.
FBAR - [I feel this is] also a bit confusing and hard to find. [In my case,] I had to ask where it is located, and [it was] definitely not where I would have expected it to [be]. I would assume it would be under reporting, but it was under [the] library and then maintenance or something.
There are a few downsides as well for this product like the system processing is different with different modules which are quite strange and sometimes get pretty taunting for the users.
Also, the debt module needs improvement and should become more relevant to the overall software. This is one of the biggest cons I would say and it also needs to be fixed immediately for a better user experience.
[I feel] it's too hard to use and navigate around [and] very difficult to manage/administer. We may keep it because [I feel] we [have] already gone through the pain point and don't want to risk going through that again. Unfortunately, if we keep it, [I believe] it's not because we love it.
Very powerful treasury management tool, the reason it's not a 10 is implementation and support lags behind competitors. It can take a long time for issues to get resolved. But once it's set up properly, everything works well most of the time. Few if any other providers will have the same range of features.
Good overall usability for what we have needed. We have not delved into any recent upgrades in modules, so there could be better functionality within the system today that we are not currently leveraging. We plan on doing a refresh in 2022 to see where we might be able to take advantage of the recent offerings within the modules we use today.
It can always be better. There needs to be more instances wherein the user can make changes that work for them and those changes would be saved for future use, not having to make the same changes over and over again.
We have weekly calls with our support team to discuss ongoing implementation projects and other issues we find from time to time. They are very responsive to any questions we have and can escalate issues to a higher level of support if they do not have the expertise necessary to fix the problem. They are helpful in coordinating testing with banks if necessary, and provide regular statistics regarding support calls, causes of problems, and resolution.
Weekly meetings and updates a plus Set realistic timeline expectations Have a good project manager Make sure everyone is following the same time line and dependencies list Keep track of a future state or out of scope list You may need to change the scope and do a project request form change, that's OK if you determine a key function has been missed Don't be afraid to extend the timeline to make sure through testing has been done prior to going live Document set up decisions, how reports and worksheets work, and why certain user codes are or are not in the positioning reports.
We had some issues with one of the implementation people provided by Kyriba. The communication skills were lacking, with assumptions being made as to what we knew already. It was very frustrating. Once that was resolved, further module implementations have been smoother.
Simple and far more user-friendly than most other TMS applications I have used in the past. Very strong core TMS foundation and functionality. Addressing some of the known issues and shortfalls would go a long way in taking a much bigger market share from some of the other main players in the TMS space. GTreasury was also very competitive on price and cost-effective.
In previous companies, the payments were processed from an AS400 based module, which required a deep technical knowledge for every action required, turning simple things like adding a bank account into a nightmare With Kyriba, most of the processes and updates just requires a couple of clicks and copy/paste updated information
Very positive ROI allowing us to take our daily cash target down to 1% of total admitted Assts. Prior to GTreasury we were running close to 20%.
Reduced bank service cost initially by $300,000+ and annually a minimum of $50,000.
Allowed us to maintain and streamline Treasury Staff FTE level, with the ability to train other areas for self service payment research, so the Treasury Analyst can focus on value added analysis tasks.
Kyriba saves our department time, which is the most valuable thing we have. Before Kyriba we had to log into each bank to pull data for the prior day before we could enter our current day activity. Now the banks send the data right to Kyriba! It saves us about 3 hours of work each day from our old process.
Kyriba has given us visibility into all of our bank accounts in a centralized platform. We can better monitor activity and use that information to make better business decisions.
Kyriba has given us better transparency because of dual approval. One person has to enter information and another person has to approve information, so we have tighter controls.
