Works well, but requires careful administration
February 06, 2018
Works well, but requires careful administration
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Kyriba
Kyriba is used primarily by the treasury department to manage cash in North America and Europe. It allows us to manage our cash pooling and pay/receive on behalf activities and to generate GL entries for our pool headers.
Pros
- Receive and integrate bank activity and apply it automatically according to terms you define. We are able to manage around 90% of our transactions without any manual intervention.
- Generate and send payment files to banks, enhancing security by managing the approval process and allowing us to limit the number of users who need to sign into separate eBanking applications.
- Customize solutions for our particular cash management structure. We use multiple cash pools across the globe and Kyriba is able to handle the large number of intercompany relationships and inter-pool settlements with relative ease.
Cons
- User administration is very complex and not entirely intuitive. Access and data permission profiles must be carefully structured in order to maintain secure access, and separate user groups and approval rules and profiles also have to be maintained. If something goes wrong, it's not always easy to tell where the problem lies.
- The ability to set up private reports and restrict others from even viewing them makes administration difficult. If a user with private reports leaves the company unexpectedly, even with full administrative rights I can't see reports they may have created that may be needed by their replacement.
- Configuration of the reconciliation terms, account setup, and mapping rules is scattered across several modules and it's not always intuitive to understand where changes are needed. For example, there are "mapping rules" in more than one place and it can take some time to find the right place to make adjustments.
- I don't have quantifiable figures, but we were able to shift some of the pay/receive on behalf reconciliation activity to our AP/AR teams at our shared service centers and away from treasury after creating the proper templates for them to use.
- We have increased the amount of pay on behalf activity and reduced the number of bank accounts we must maintain through use of transmissions from Kyriba.
- Quantum
One of the more attractive features of Kyriba as compared to Quantum was the knowledge that we would not need to test and install upgrades. We had a custom module in Quantum that eventually became incompatible with newer versions of the core product, so we were stuck on an older, less stable version of the system for a time before making the switch to Kyriba.
Kyriba Support
| Pros | Cons |
|---|---|
Quick Resolution Good followup Knowledgeable team Problems get solved Kept well informed No escalation required Immediate help available Support cares about my success Quick Initial Response | None |
Yes - We have reported bugs from time to time. They are typically resolved fairly quickly. We have just recently reported an issue with a new payment security feature and had to provide a recording showing user settings and how the problem is occurring, and it was quickly escalated to their advanced support team.
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