Kyriba for the Win
Updated April 10, 2018

Kyriba for the Win

Terri Haga, CTP | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Kyriba

Kyriba is currently used in the treasury area. We purchased the Cash and Liquidity module, and the Bank Account Management module and the Cash Forecasting module.

We had to replace an unstable homegrown treasury workstation, as it was requiring manual intervention every day for every task. While we do not directly interface with any ERP, as our company has grown by acquisition and we acquired many different ERPs, that remain by business unit today, we have managed to automate the main accounting function that was in place with the old system.

That system was also our storage place for entitlements and banking information. We have converted all that information over to Kyriba.

Our next implementation will be Cash Forecasting, which will replace an Excel spreadsheet being used right now.

  • The Cash Accounting area of the Cash Management Module has been very well received by the very skeptical accounting team that requires it. We finally have it running just the way they want it to, with the information they requested. Win for us!
  • The Bank Account Management module is addressing issues that the audit [team] had with the old system, as we are able to utilize it to give exact information, whereas the other system was limited in its scope. Another win for us.
  • Love Kyriba Social! It is a great way to see what other users think. I also love being able to see all of the cases I open along with the resolutions, as sometimes the same thing happens and I can just refer to those.
  • We need to have the ability to make changes to canned reports. I currently have a report that has over 20 lines that are unnecessary, but I can do nothing about it.
  • Assumptions are made globally for all users. Every use has different needs/wants and global assumptions should not be made.
  • 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!

SAP and Fintech were more than we needed, and priced accordingly.

IT2 was not very user friendly for our purposes.

It was a close race between GTreasury and Kyriba, but we went with Kyriba mainly due to the size of the company compared to GTreasury.

In our case, Kyriba is very well-suited for our cash management/accounting needs, along with our bank account management/entitlement needs.

Using Kyriba

12 - Treasury, Accounting, AP/AR reconciliation
2 - 

Treasury Manager-main user

Treasury Analyst-Backup

  • Cash Positioning and Reporting
  • GL Accounting
  • Bank Account and Bank Entitlement Storage
  • Auto reconciliation with SAP
  • Audit Reporting
  • Cash Forecasting
  • Bank Account Fee Analysis
It has become an important tool that is used daily.

Evaluating Kyriba and Competitors

Yes - It replaced a homegrown unsupported Access based system that was down more than it was up.
  • Price
  • Product Features
  • Product Usability
  • Prior Experience with the Product
One of the most important features was that it was an Saas product with full support available.
Do not bring in the "big guns", as that is not what was needed and was really a waste of time reviewing their outrageous RFP responses.

Kyriba Implementation

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.
Change management was a major issue with the implementation - 

Change management is hard on everyone, especially upper management who are used to being handed what they want, when they want it, in the format "they have always gotten it in". Once I could show them that the new reporting was just as good, if not better, than the old, they came around.

Same with The GL Accounting. Accountants are pretty set in their ways and had been bamboozled into believing that what they were getting was all that was available. Once I could show them that was not true, all was well.

  • Having the time tow work on the implementation. This was one part of a full time job.
  • Change management.
  • Perfecting reporting.

Kyriba Support

The way the support is set up works well. For the implementation phase, your support is your implementation partner. Once all agree, you are moved over to Kyriba support, utilizing Kyriba Social to open tickets. Love Kyriba Social!!
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
No - I do not believe it is necessary for us at this time.
I came upon an issue that I or they had never seen before. We were able to work together to resolve it to both of our satisfactions.

Using Kyriba

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.
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Quick to learn
Feel confident using
Lots to learn
  • Automated Reporting, once it is set up you can forget about it.
  • GL Mapping
  • Entitlement entry
  • Entitlement Reporting--Too may unnecessary columns included