Overview
What is Kyriba?
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…
10/10 Cash Management!
Would Purchase Again
Kyriba Implementation in Progress!
TrustRadius Insights
With Kyriba we have greater order and control in our treasury management
Best cash management system.
Versatile and useful treasury management tool
650+ hours per month saved with Kryiba!!
KYRIBA - UNLEASH THE POWER OF YOUR CASH
Demands attention and concentration but worth trying
Every payment activity is centralized and digital payments standardized
Treasury Solutions Consultant
Cash is King with Kyriba
Kyriba Review
Kyriba
Used across whole organization as payment hub, connected to all our regions and banks
Main uses are the following:
- Reception of end of day …
Awards
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Popular Features
- Cash and Liquidity Management (5)8.787%
- Treasury Reporting (5)7.878%
- Bank Account Management (5)7.575%
Reviewer Pros & Cons
Product Demos
Kyriba Cash management
Features
Treasury Management
Common features across treasury management software products
- 8.7Cash and Liquidity Management(5) Ratings
Tracks the flow of cash to give an accurate, real-time picture of liquidity.
- 7.2Financial Fraud Prevention(2) Ratings
Detects and alerts on potentially fraudulent transactions to increase security.
- 7.9Treasury Management Payments(4) Ratings
Allows you to make secure, reliable payments within the platform.
- 7.5Bank Account Management(5) Ratings
Manages relationships with multiple banks within the platform for increased visibility.
- 6.9Treasury Risk Management(3) Ratings
Provides up-to-date information on risk exposure across financial accounts.
- 7.8Treasury Reporting(5) Ratings
Dashboards with commonly used information and customizable reports for more complex data needs.
- 8.1Liquidity Forecasting(3) Ratings
Forecasts future liquidity/cash flow based on current trends.
- 7.1Market Data(4) Ratings
Provides up-to-date market data to allow for informed financial decisions.
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is Kyriba?
Kyriba Features
Treasury Management Features
- Supported: Cash and Liquidity Management
- Supported: Financial Fraud Prevention
- Supported: Treasury Management Payments
- Supported: Bank Account Management
- Supported: Treasury Risk Management
- Supported: Treasury Reporting
- Supported: Liquidity Forecasting
- Supported: Market Data
Kyriba Screenshots
Kyriba Integrations
Kyriba Competitors
Kyriba Technical Details
Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
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Operating Systems | Unspecified |
Mobile Application | Apple iOS, Android, 8587750882 |
Supported Countries | All |
Supported Languages | Arabic, English, French, German, Spanish, Italian, Chinese, Polish, Portuguese, Japanese, Russian, Romanian, Serbian, Turkish. |
Frequently Asked Questions
Kyriba Customer Size Distribution
Consumers | 0% |
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Small Businesses (1-50 employees) | 0% |
Mid-Size Companies (51-500 employees) | 0% |
Enterprises (more than 500 employees) | 100% |
Comparisons
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Reviews and Ratings
(49)Community Insights
- Business Problems Solved
- Pros
- Cons
- Recommendations
Kyriba is a versatile treasury and financial management software that has proven to be a valuable tool for various departments within organizations. Users have praised its ability to manage bank accounts, facilitate smooth transactions, and ensure timely payment of bills. With detailed reports and daily reconciliations, Kyriba can be compared to high-end software in terms of functionality. It offers a range of services including Treasury Management and Financial Risk Management, making it an essential tool for managing financial operations.
One of the notable features of Kyriba is its supply chain finance capabilities, risk management tools, payment processing functionalities, and fraud management features. Acting as a payment hub, Kyriba connects different regions and banks within an organization, streamlining the flow of information and funds. The software automatically receives end-of-day and intraday statements, forwarding them to various teams across the company. It also handles the transformation of payment files into valid SWIFT files and sends them to main banks via SWIFT communication channels.
Although users have generally had positive experiences with Kyriba, there have been occasional issues with servers leading to blocked files and duplicate payments. Some users have also found the setup of loans in Kyriba to be less user-friendly and lacking certain options related to accruals and settlements. Additionally, managing tokens/licenses in Kyriba can be messy and confusing, often requiring multiple tables and review by the account manager.
Despite these minor drawbacks, Kyriba has become an indispensable tool for departments such as Treasury and Accounting. It helps with bank reconciliation, payment processing, cash flow analysis, and monthly bank fee monitoring. By replacing unstable homegrown treasury workstations, Kyriba provides a centralized platform for storing entitlements and banking information.
Kyriba integrates seamlessly with corporate ERPs like SAP Business One, assisting in resolving liquidity allocation, cash pooling, and interest risk management. It reduces mistakes and technical problems with bank statement integrations while improving reporting efficiency. This centralized system enhances clarity and visibility into cash management, aiding in accurate forecasting and supporting critical financial decisions.
Furthermore, Kyriba offers a range of features that simplify treasury management. It centralizes payments and deals booking, generating journal entries, reconciling accounts, and providing forecasting details. This functionality addresses various business problems for multiple units within an organization. With its ability to handle tasks such as cash positioning, cash flow forecasting, GL interface, and loan management, Kyriba has become an essential tool in different geographic regions.
The software assists in managing banks, accounts, signers, cash, debt, financing vehicles, and hedging efficiently and proactively. Users appreciate that Kyriba eliminates the need to log into multiple bank portals, as it consolidates all banks and transactions into one system. It simplifies cash position management by providing a real-time view across all banks through the cash position worksheet.
Kyriba also offers time-saving automation features. Users can create rules to automate general ledger entries for the Cash Accounting team, reducing manual work and improving efficiency. The software generates automatic reports for other departments, providing them with cash balance information on all accounts.
This powerful tool supports regional cash management teams in their daily operations, including cash positioning, forecasting, payments, debt management, and bank fee analysis. It serves as a central hub for consolidated Treasury functionality for regional teams and offers supplemental reporting to Finance teams.
In addition to its treasury functionalities, Kyriba is widely used by corporate treasury departments, accounting teams, and operating units. It centralizes netting, bank account management, bank fee management, and G/L accounting into one system. This consolidation of functions streamlines processes and promotes efficiency within organizations.
Overall, Kyriba's suite of tools helps address key challenges faced by users in reporting, accounting, and streamlining manual processes. With features like automated bank reconciliations and real-time liquidity positions, it improves efficiency in treasury and accounting functions. By providing clarity and visibility into cash management, Kyriba enables accurate forecasting and supports strategic business decisions. Through its centralized platform, it simplifies payment processing tasks, reduces errors, and enhances overall financial management within organizations.
Dynamic and Easy to Use: Users find Kyriba to be a dynamic system that is easy to use and helps keep their cash management in order. Several reviewers have stated that they appreciate the user-friendly interface and how it simplifies their daily tasks.
Predictive and Automatic Software: Users consider Kyriba to be a predictive and automatic software that greatly aids in treasury management. Many users have mentioned its perfect daily reconciliations and the absence of errors, which saves them time and ensures accurate financial data.
Bank Account Management Features: Users appreciate that Kyriba has features for bank account management and praise its short learning curve. Multiple reviewers mention that it effectively maintains a large multi-bank account structure, providing daily visibility to all bank account balances for Treasury and other departments.
- Inconsistent System Processing: Some users have found the system processing to be inconsistent across different modules, which has been confusing and taunting for them. This inconsistency adds complexity and makes it harder for users to navigate and understand the software.
- Poor Customer Service Responsiveness: Users have repeatedly expressed frustration with the unresponsiveness of Kyriba customer service. Many state that they rarely receive a reply within a day, causing delays in issue resolution and hindering their overall experience with the software.
- Limited Customization Options: Multiple users have encountered difficulties in customizing the software to fit their specific needs. They find it challenging to make changes to canned reports and believe that global assumptions should not be made for all users, as it restricts flexibility and customization potential within the system.
Users of Kyriba have provided several recommendations based on their experiences with the product. The most common recommendations include:
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Allocate time and budget for implementation: Users suggest being committed to the learning curve and setting aside sufficient time and resources for the implementation process, especially for larger and more complex organizations.
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Partner with banks for assistance: It is recommended to partner with banks that can provide support and guidance during the implementation process. This can help streamline the integration of Kyriba from the bank's end, ensuring a smoother transition.
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Consider number of users and roles: Users advise considering the number of users and roles within the organization when weighing the costs per user against the benefits of cross-training and having independent Kyriba users from those authorizing payments. This can help optimize efficiency and ensure proper control over financial transactions.
Overall, users highly recommend Kyriba for its ability to handle automatic systems for financial treasury, its suitability for global business needs, and its modular model that makes deployment easier. It is also suggested to talk to other customers for second opinions or tips, as well as to have a consultant to drive the implementation process effectively.
Attribute Ratings
Reviews
(1-25 of 30)Leverage the Power of Automation
- Reduced manual bank ERP bank connections from over 200 to a singular Kyriba connection in 2 formats reducing internal IT resources to own/manage.
- Provided real-time global cash balances to support strategic decisioning
10/10 Cash Management!
- Discovered overcharging on bank fees
Would Purchase Again
- I firmly believe Kyriba is the reason we have been able to keep our headcount static, despite growth. We would 100% have to hire another employee without the automation efforts embedded within.
- We are able to get reporting to Senior Leadership in a matter of minutes. Prior to Kyriba, this took hours to aggregate and analyze data from multiple sources.
- The time it takes to learn Kyriba cannot be overstated. Do not think you will implement and be off to the races. We had to dedicate an entire person on our team to get this up and running and learn the ins/outs to ensure it was an asset.
Kyriba Implementation in Progress!
- Improvement on interest income earned on excess cash through liquidity management and planning tools
- Reduction in overdraft fees from superior cash management and forecasting tools
- Shift of man hours from administration to analysis providing more business efficiency and reducing overhead costs
- With Kyriba we have improved remarkably in all aspects, our finances are in order, accounts with suppliers are paid on time and we constantly follow up on accounts, our finance department is now more productive than ever now that we use Kyriba.
- Perfect for streamlining outstanding bills, cash flow is very good and there are no technical details with Kyriba.
Best cash management system.
- It's simple UI and ease of integration with other ERP further improves productivity.
- Its ability to get reports quickly saves time.
- Tracking of cash management is easy and helpful.
Versatile and useful treasury management tool
- Reduced time to complete monthly close (50%).
- Reduced time to complete daily AR (60%).
- Reduced time to determine daily cash position (80%).
650+ hours per month saved with Kryiba!!
- 650+ hours saved per month
- ROI > $1 million as Treasury is able to dedicate resources to other projects vs. just managing cash
- 100% real time visibility and accuracy of liquidity
- 94% accuracy of cash forecasting
- approx. $20k of cost avoidance in banking fees
KYRIBA - UNLEASH THE POWER OF YOUR CASH
- reduction of interest cost due to correct liquidity allocation among different accounts
- reduction of currency exchange rate impact due to cash pooling implementation
- reduciton of time to reconcile and manage intercompany transaction
Demands attention and concentration but worth trying
- The forecasting element is quite easy to use as well because we have been able to simplify all the processes simultaneously with saving a lot of time.
- One thing that annoys me a lot is the unnecessary logging out amidst working on something important.
- The product just centralizes all of the treasury payments and it also saves time to quite a large extent.
- Standardizes payments control.
- Sanction list payment screening.
- Payment tracking.
Treasury Solutions Consultant
- Reduced manual hours of bank statement downloads, saving thousands of dollars of salaries of employees who can work on more strategic tasks.
- Reduced time and errors in payment processing, saving thousands of dollars.
- Visibility, dashboards and reports for c-level management.
Kyriba Review
- With there being more pressure on the treasury organization year-to-year, I believe Kyriba has helped our group in that we have not added headcount, even as more responsibility has been added. The day-to-day cash management and reconciliation, to GL accounting, has been the greatest benefit to us. It has also eliminated time from other groups, such as accounting, to add value in other ways. We are still in the implementation phase, so it is difficult to give a true ROI when we are still in the process of completing.
Kyriba
- Time spent in setup of manual payments significantly reduced thanks to Kyriba
Kyriba Cash Management Review
- 300% decrease in process oriented tasks
- 15x overall increase in productivity
- 50% more reports available to distribute
Kyriba review from an international company
- 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.
User's Review of Kyriba
- 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.
Kyriba for the Win
- Definite increase in productivity, due to not having to babysit the old system through every task.
- When I presented the need for a SaaS solution to upper management, I did a time and motion study and determined that the savings were substantial.
- One of the main reasons Kyriba was chosen was that there was 24/7 support available. I was that support for the homegrown system!
Kyriba Review
- Increased productivity with making decisions with worldwide cash given visibility
Kyriba Fan Girl
- 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.
Great SaaS TMS and strong business partner
- Decreased costs associated with Treasury technology both direct (system support & subscription costs) and indirect (expensive technical personnel to maintain TMS configurations; internal IT infrastructure)
- Globally accessible and standard platform which can be centrally managed and easily deployed at a regional or functional level
- Standardized platform to external system linkages (ERPs, execution platforms, Reporting & Finance systems)
My Kyriba Review
- It has a positive impact because we are able to use Kyriba more than just a treasury workstation. We use it for many groups within our organization.
- It has decreased FTEs as we are able to use daily and monthly reporting to enhance multiple business units.
- It has added a good deal of value for the data it can produce. Using this data with other tools has produced some very good output.
A consultant's view
- The biggest savings come from reduction of manual effort. The process of retrieving daily bank statements becomes easier and more reliable. Creation of cash journal entries becomes easier using the automated processes that Kyriba supports. Reduction in the number of electronic bank platforms, which also means less security tokens, userid's and passwords. This translates to a reduction in System Administration time and effort.
Great for your first TMS!
- Increased efficiencies through automation
- Savings through avoided headcount
- Accuracy and the ability to scale easily with business growth
Medium US Based Global Corporate - Automotive
- Time savings in preparing daily cash position and looking at different options when considering financing alternatives
- Accurate visibility of banking relations gave the company the ability to close dormant accounts, unnecessary relationships, etc
- Excellent starting point to strat negotiation of bank fees