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Kyriba
April 16, 2018

Kyriba

Eric Matellán | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with 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 and intraday statements, with automatic reports forwarding to different teams across the company
  • Reception of payment files from AP department, batching and transforming into valid SWIFT files, then sending via SWIFT communication channel to our main banks
  • Tracker 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 duplicated
  • Loans setup is not very user friendly and doesn't include the option to add accruals and settlements
  • Management 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
  • Time spent in setup of manual payments significantly reduced thanks to Kyriba

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

Well suited:

  • Payment hub, managed to pay multiple thousands of payments daily without suffering delays, including payments to different continents
  • Router of different format files via SWIFT communication channel to multiple banks
  • Easy to setup approval rules, options to base the different approval colleges in the transaction type, the amount, the account, the country, etc. and to setup as approvers one single user, a group of users, tailor-made rules (one user can provide first approval and a list of specific users can provide second, but not possible the other way around, etc.)

Less appropriate:

  • Would not recommend Kyriba to manage your intercompany loans, not user friendly at all and competitors offers many more options
  • In my opinion, tool is intended for companies with a high volume of payments, if you are only going to process a few, costs are too high