SAN DIEGO – (COMMERCIAL THREAD) – Kyriba, (“the Company”), a global leader in cloud-based financial and IT solutions, announced the launch of new Kyriba working capital solutions as part of its aggressive efforts to close the funding gap reported trade of $ 3.4 trillion.1 and help business buyers support all suppliers, especially at-risk SMEs. The Company has further invested in its Working Capital Solutions team and is rapidly expanding its market of global funding partners to improve access to liquidity amid the historic disruption of international trade.
“The pandemic has created unprecedented risk in global supply chains. Suppliers are financially crushed as they wait for the extra weeks and months it now takes to bring products to market, ”said Jean-Luc Robert, Chairman and CEO of Kyriba. “Our solutions help mobilize liquidity, injecting money into supply chains so that global suppliers receive the financial lifeline they need to survive.”
Kyriba has launched new capabilities to help buyers accelerate access to liquidity and mitigate supply chain risks with increased flexibility, certainty and corporate responsibility.
- Flexibility: Kyriba helps deploy liquidity from the most efficient sources at different stages of the business relationship with supply chain finance, dynamic discounting and recently announced purchase order financing. The Company is also launching a debt financing platform to further help CFOs improve and modernize their corporate liquidity programs.
- Certainty: The company’s integrated cash forecasting solution increases the accuracy of cash and working capital projections, enabling finance and treasury teams to optimize their use of internal and external cash pools to unlock additional cash for suppliers around the world.
- Durability: Kyriba’s working capital solutions provide better access to affordable capital for all vendors and offer the ability to complement CSR and ESG programs, making it easier for buyers to work with sustainability-minded companies.
“Kyriba is removing barriers to adopting working capital solutions that improve access to liquidity for SMEs,” said Abhijit Prasad, SVP Working Capital Finance at Kyriba. “We have invested in our team, delivered innovative products and added new global financing partners to provide an even greater capacity to meet the growing demand for working capital solutions around the world.
Kyriba’s working capital solutions were recently recognized by Global Finance magazine as the 2021 Global Best Supplier Enablement winner for its automated and transparent supplier integration operations. Over the past 12 months, Kyriba has facilitated more than $ 7 billion in prepayments on 1.5 million invoices to more than 50,000 suppliers in 50 countries. In 2021, the Company expects funding to exceed $ 10 billion, an increase of more than 40% from 2020.
For more information on Kyriba’s working capital solutions, visit Kyriba.com/workingcapital or visit us at upcoming trade finance conferences including the Working Capital Forum in London on October 14, 2021 and the conferences GTR in London, Stockholm and New York.
Kyriba empowers CFOs, treasurers and their IT counterparts to transform treasury, payments, working capital and connectivity solutions to enable liquidity as a dynamic, real-time vehicle for growth and value creation . Kyriba is a secure and scalable SaaS platform that harnesses artificial intelligence, automates payment flows and enables thousands of multinational companies and banks to maximize growth, protect against losses due to fraud and financial risks and reduce operational costs. With 2,000 customers worldwide, including 25% of Fortune 500 and Eurostoxx 50 companies, Kyriba handles more than 1.3 billion bank transactions per year and 250 million payments for a total value of $ 15 trillion per year.
Kyriba is headquartered in San Diego, with offices in Dubai, Frankfurt, London, Minsk, Paris, Shanghai, Singapore, Tokyo, Warsaw and other major locations. For more information, visit www.kyriba.com.
1 Global trade now faces $ 3.4 trillion in financing gap – CNBC