At the recent ERPToday awards, liquidity performance platform Kyriba took home the award for Finance Solution of the Year. Kyriba was honored after its 2024 output included a suite of new AI-powered features within its offering.
These solutions are designed to bolster forecasting capabilities, enhance bank connectivity-as-a-service, and give users the ability to generate customizable reports to deliver enhanced and real-time insights to decision-makers.
Kyriba’s 2024 was also notable for its partnerships with major organizations throughout the world – it partnered with Workday and U.S. Bank and became the white label provider for RBC, Bank of America, Societe Generale, and HSBC. Further, it introduced digital currency and blockchain for cross-border payments.
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Kyriba was one of the major winners at the ERPToday awards, along with organizations like Codestone, Wipro, Infor, SAP, and many more.
Meeting the Market
With the market volatility that companies have to contend with, forecasting has never been more important. SAPinsider’s recent Cash Management and Cash Visibility Benchmark Research Report found that the demand for improved cash forecasting accuracy is the top driver affecting how organizations strategize ways to enhance cash visibility and optimize cash management and treasury functions.
This is one of the many reasons why Kyriba was named for Finance Solution of the Year. Its suite of solutions provides users with the ability to generate new cash forecasts based on information gleaned from historical cash flows. It also leverages the power of GenAI to update current Kyriba payment formats, while its reporting solution integrates with Microsoft Office Copilot.
This allows users to access one single source of truth about their organization’s cash situation, pair that with the forecasts generated through Kyriba, and use the resulting information to steer their organization towards meeting its business goals.
What This Means for SAPinsiders
Follow the experience of other organizations. SAPinsider research has shown that many companies are paralyzed by indecision when it comes to finding a partner for a major technological undertaking. One method many organizations rely on is to see what experience their potential partners have. Organizations like Kyriba have partnered with HSBC, Bank of America, and many other major financial institutions, indicating that it has the skills and experience needed to drive value. Companies can also rely on the expertise of organizations like ERPToday to evaluate which solutions are making a major difference is how businesses are able to operate amid market volatility.
Forecasting is More Important Than Ever. Organizations can no longer afford to rely on inaccurate cash flow forecasting, as it can put them at risk of losing the financial power they need to excel past their competition. With options like GenAI, companies can improve the accuracy of forecasts as well as better understanding their own internal finances.
Overcome Siloes to Improve Forecasting. Business leaders must realize that they need to integrate all sources of financial data within their organization to gain an accurate picture of their financial health. Leading companies trust third-party solutions providers like Kyriba to glean historical data and link that with all current sources of information to give a 360-degree view of a company’s finances.