Kyriba Corp. Delivers Record 43 Percent 1H 2017 Sales Growth
#1 cloud provider of treasury and finance solutions sees surge in global demand as more companies worldwide seek protection against fraud and market volatility with a cloud-based approach
Kyriba Corp., the global leader in cloud-based treasury, cash and risk management solutions, today announced record growth for the first half of 2017, charting a 43 percent year-over-year increase in sales bookings. Satisfying the demand for a comprehensive, cloud-based approach to treasury and finance, the company added more than 100 new clients during the period.
Volatility in today’s global currency and political markets, rampant fraud and increasing regulatory requirements are propelling rapid cloud adoption for forward-thinking treasury and finance teams that need faster innovation, better security and rapid scalability. According to new research by IDC, the vast amount of growth in treasury management through 2020 is occurring in SaaS (software as a service), an approach that Kyriba first utilized in the early 2000s.
Highlights of 1H 2017 results:
· Reported 109 new clients worldwide, including major brands and multinationals such as Adecco, AmTrust, BW Group, Fuji Oil Company, Omni Hotels & Resorts, Transcosmos and many more. The additional logos bring Kyriba’s total customer base to more than 1,600 worldwide, the most in the treasury and risk management industry.
· Powerful new capabilities that empower CFOs and global financial teams to reduce operational and financial risk for risk scenario analysis, managing credit risk, and payment controls.
· Rapid growth in Kyriba’s partner program, including adding strategic vendors such as BSP, FHL, Netsoft, RSM and World First, as well as securing a major white label partner in the ERP space.
· Named the “World’s Best Cash Forecasting Solution 2017” by Global Finance Magazine, and recognized by CB Insights as a member of the “Fintech 250,” a 2017 list of the world’s most promising, private financial technology firms.
“Kyriba delivers the most innovative approach for solving today’s most complex financial challenges, including fraud, cybercrime, regulatory compliance and interest rates,” said Jean-Luc Robert, chairman and CEO of Kyriba. “Our growth is due to our ability to help modern CFOs and finance teams streamline key processes, protect against loss from risk and fraud, and drive strategic growth through improved decision support and forecasting.”
“We selected Kyriba, the clear market leader in cloud treasury and risk management, to enable greater visibility into our worldwide cash reserves, and to deliver stronger financial controls around payments and compliance," said Jessica Cheung, general manager corporate finance at BW Maritime—a subsidiary of BW Group.