TrustRadius
https://dudodiprj2sv7.cloudfront.net/product-logos/1K/IX/8H4JHH3180SI.JPEGKyribaKyriba2018-04-16T23:50:17.103ZUsed across whole organization as payment hub, connected to all our regions and banksMain uses are the following:Reception of end of day and intraday statements, with automatic reports forwarding to different teams across the companyReception of payment files from AP department, batching and transforming into valid SWIFT files, then sending via SWIFT communication channel to our main banksTracker for most of our financial operations (FX Spot and Forward, IRS, Inter-company Loans, etc.)Reception from ERP of the collection direct debit files, and automatic routing to the different banks, receiving acknowledgment messages where the status of the collections is confirmed on multiple levels (Valid/Rejected/Partially Valid)
Main business issues created by the tool are, in my humble opinion, the following:Sometimes Kyriba servers faces issues which leads to files apparently blocked on their way to bank. Feedback received from Support team is sometimes wrong, as they confirm files did not arrive to bank and confirm we can resubmit, then finding payments duplicatedLoans setup is not very user friendly and doesn't include the option to add accruals and settlementsManagement of tokens/licenses is very messy, to the point of not being sure what to request when a new license is required, and account manager needing multiple tables to review a point which should be quite straight forward,Solid infrastructure
Strong payments tracker, keeps payment details of all transactions made years ago
Easy to understand setup of accounts, banks, companies, etc,Support team requires additional training
Improve reliability of payment files status
Simplify tokens/licenses management,8,Time spent in setup of manual payments significantly reduced thanks to Kyriba,Integrated product platform (cash and risk management, payments, SFC, etc.)
Bank connectivity
SaaS solution (cloud),Eric MatellánKyriba Fan Girl2018-03-14T22:32:32.997ZKyriba is predominantly used by the Treasury department within our organization. There are some members of the Accounting department that have access to Kyriba to gather information for journal entries posting to the general ledger. The Treasury department uses Kyriba to reconcile bank activity, process payments, create a position of cash flow for our US and Canadian transactions, monitor and maintain financial instruments and analyze monthly bank fees.,Kyriba is great for creating a position of cash flow. We are able to use that information to create an accurate daily cash position that is used by Management in the decision making processes. With all the bank information reporting into Kyriba we are able to easily monitor liquidity.
Kyriba makes it easy to monitor the activity in multiple bank accounts across the organization. Having all the transactions feeding into a centralized platform saves us valuable time each morning. This also increases our visibility into each account.
Kyriba is able to track all of our financial instruments for us. It is easy to update information for our various loans because it is all in one location. We are able to run reports at month end at the push of a button so we can reconcile our activity against the bank reports.,Kyriba Social is a great tool to use to connect to other Kyriba users to get help on any problems. This is also where we would file a case with Kyriba for support. I have always found that when I do have to file a case for assistance the Kyriba team is quick to respond and helpful.
One issue I have noticed is that on different modules in the system pressing "Enter" does different things. On one module it might save the data that was just entered, and on other modules it will exit you out of the screen. For instance, if I am entering a payment in the "Payments" module, hitting "Enter" will save the payment. If I am working on a loan in the "Financial Transactions" module hitting "Enter" will exit me out of the screen without saving my data. I wish it was a little more consistent across all the modules.,9,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.,Depth of product capabilities
Integrated product platform (cash and risk management, payments, SFC, etc.)
Bank connectivity
Commitment to security
SaaS solution (cloud)Lina Isabel RauhWhy I use Kyriba to manage our Treasury Operations2018-02-09T17:27:55.423ZKyriba is centrally used by centralized Treasury Operations, in support of entire organization, performing the following functions:
In House Bank - shadow balance tracking and reconciling
Monthly ZBA rollup of balances to one master account - create and book transactions
GL entry creation and export to GL system
GL Bank account reconciliation
Cash Forecasting support,Keeps our very large multi-bank account structure in balance daily, and gives daily visibility to all bank account balances for Treasury and the rest of Mercy
GL Mapping, creation and export of GL entries, and reconciliation of ALL GL entries back to the bank accounts.
Listens to client's suggestions and ideas, responds quickly with answers, regularly updates software based on our input. Also, they have a great Kyriba Social website where we can put in tickets for help and send in our ideas, but more importantly, share questions and ideas with the whole Kyriba client community, and provides FAQ from that dialogue for just about any question that we can think of. Great customer support and communication works well both directions.
Implementation process is well mapped out, but flexible to the client's needs. If I'm experienced and comfortable with TMS systems, I can do a lot more of the setup work instead of paying Kyriba to do it all, but if I need Kyriba to do it all, they will. Love the training process, which works a lot like college, where they teach you a section, give you homework to do before the next training session, check your accuracy and understanding, and move on to the next section. Almost all the Kyriba implementation folks I've worked with and met with were former Treasury practitioners, so they know what we know and they how to talk to us and with their developers to give us what we need.
Very high value for the low cost and scale-able depending on how many modules you need. Monthly fees are very reasonable, implementation fees are known up front, and you only pay for what you use, and annual volume based fees are reasonable as well. Much, much cheaper than bank fees for Information reporting, didn't require any MIS approval or assistance, and very easy to justify to upper management based on the massive labor savings.
One of the big reasons I love Kyriba so much is TMS is all they do and they have grown consistently in the 4 years we've been with them, and are very stable. I like that their whole focus is on providing the best TMS platform on the market, and not getting off track working on other non-TMS priorities and products. In the past, many TMS systems were owned by larger conglomerates, were bought and sold multiple times, and often times support and customer service was non-existent, and coworkers were leaving the firm left and right. Many went to Kyriba. That's the main reason I started looking and found Kyriba in the first place.,Keep working on adding content and functionality to Cash Forecasting, especially looking out 1-2 years (or more) to create a daily/weekly/monthly/annual forecast and do variance analysis.
Improve Bank Fee module to add more variance analysis, benchmarking, and reporting. The last I looked, it mainly converted the 822 files to excel reports and did some comparison to the bank's original per item pricing, but not much more than that.
Haven't used their BAMS module as yet, and it probably improved since the last time I looked at it, but at the time, it was pretty good but needed more work. Kyriba needs to work with the main banks to allow their BAMS forms and activity to be accepted by the banks, and ideally integrated with the banks. The big problem in this space isn't Kyriba - it's the lack of standard forms and processes within the industry for Bank Account Management. Hoping Kyriba and other TMS/BAMS providers can help drive this.,10,Increased productivity - eliminated hundreds of labor hours per month booking entries, reconciling, daily balancing
Reduced bank fees, especially for the bank's online systems, since we don't use them as much for reporting as we did before
Much better visibility to cash balances, trends, variances, and a great Executive reporting tool,Depth of product capabilities
Integrated product platform (cash and risk management, payments, SFC, etc.)
Global market leadership
SaaS solution (cloud)
Customer recommendation,treasura, Gtreasury and Sungard Availability Services Cloud ServicesSteve WaldenKyriba review from an international company2018-04-13T18:33:34.481ZKyriba is currently used within our treasury department. However, we are also able to generate automatic reports for other departments in order to provide them with cash balances on all our accounts.We use the system mainly for cash forecasting and analysis, reporting, bank account management and signatory management.,Cash forecasting is very easy to use. We have been able to simplify our processes and save a lot of time which has led us to be able to spend more time on strategic analysis.
We have many different departments using many different banking portals which the treasury department has to maintain. Kyriba lets us track all these users and portals in one place, something which we struggled to find elsewhere. This helps us save time and aides us with internal policy.
The reporting function is great - there are so many ready made templates available to use. We have scheduled reports that are waiting in our inbox in the morning advising us on cash balances and positions, reports that are daily/weekly/monthly that are, again, automatic or can be ran on an ad hoc basis.,The system does have a tendency to log you out whilst you are in the middle of something and does have occasional periods of "slowness". However, I believe a major update has just been implemented.,8,It has enabled us to gather up to date information across numerous entities in one place. Because of this, we have been able to analyse our group cash as a whole much more easily and see our high and low cash positions a lot sooner than before we used Kyriba. This has improved our investment returns management ten-fold.,Integrated product platform (cash and risk management, payments, SFC, etc.)
Bank connectivity
Commitment to security
SaaS solution (cloud)Simon BarkerUser's Review of Kyriba2018-04-13T18:29:07.497ZKyriba is used across our organization for cash positioning, cashflow forecasting, GL interface and partially for loan management.,Cash positioning
Cash forecasting
Connectivity with banks,Debt module for loan tracking
IHB module for loan tracking, schedules, accruals and interest statements
Straight through processing for loan management
Display of global cash balances by categories, hard to slide/dice data, limited to only setting up positions by Kyriba standards,4,Bank data integration allows our company to set cash position early in the morning.
Cash flow forecasting allows our company to evaluate results and set goals for forecasting.,Bank connectivity,Debt and Bank feeAllison Rakitin, CTP
Unspecified
Kyriba
32 Ratings
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