Introduction

This case study of a large enterprise construction company is based on an August 2019 survey of Kyriba customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

 

“Kyriba has allowed us to make decisions that we were not able to make easily before. We can quickly see where our cash sits. Previously, we had to log into multiple bank portals and download all our reports to see how much cash we had in each account, which was not an efficient way of operating.”

 

Challenges

The business challenges that led the profiled company to evaluate and ultimately select Kyriba:

  • Challenges they faced that caused their organisation to invest in Kyriba:
    • Lack of visibility into global cash positions
    • Inefficient manual processes that waste time and resources
    • The inability to improve cash returns based on poor cash visibility
    • Lack of data and insight to support better decision making
    • Lack of visibility into global bank account management fees

 

Use Case

The key features and functionalities of Kyriba that the surveyed company uses:

  • Purchasing drivers for selecting Kyriba:
    • Highly connected ecosystem, i.e., banks, ERPs and other third-party financial systems
    • Quality of data and insight for better decision making
    • Globalisation of solution
    • 100% SaaS platform

 

Results

The surveyed company achieved the following results with Kyriba:

  • The biggest impact of choosing Kyriba so far:
    • Expanded visibility into cash and liquidity
    • Maximised cash returns with better visibility
    • Improved executive decision support
    • Saved time for strategic initiatives
  • How much Kyriba has helped improve the following:
    • Visibility into global cash and liquidity: > 75%
    • Protection against loss from fraud and financial risk: 25%-50%
    • Data and insights for better decision making: 50%-75%
  • Improved short and long-term cash returns by greater than 30% through improved visibility using Kyriba
  • Improved their effectiveness in working with other teams and business units to support the organisation’s strategic initiatives by greater than 75%