Kyriba Introduces Receivables Finance Solution to Help Finance Teams Facing Higher Interest Rates

Kyriba, which claims to be the global leader in cloud-based financial and IT solutions, has announced the launch of Kyriba Receivables Finance.

The solution “provides finance teams with greater control over factoring or securitization programs as well as enabling selective invoice financing.” The multi-funder solution “integrates all vendor programs into a single platform, providing a real-time overview of credit facilities, utilization, limits, and program performance.”

Bob Stark, VP Strategic Marketing, Kyriba, said:

“A lot of companies die despite their profitability, because they don’t have the tools to manage or inject cash into their company. In 2023, corporate insolvencies are expected to grow by +19% globally1, due to higher energy prices, and rising interest rates and wages. The speed with which companies can convert their receivables is essential for their survival: the faster the conversion, the less working capital required to support the business.”

Edi Poloniato, Head of Working Capital, Kyriba, remarked:

“Kyriba Receivables Finance enables CFOs to release funds tied up in unpaid accounts receivables, quickly convert them into cash and optimize decision making. This solution enhances the control of financial departments over financial risk, automates the end-to-end process and reduces operational costs, while offering a single funder agnostic platform.”

The solution “automatically pulls invoices from one or multiple ERPs, identifies eligible documents based on each funders’ criteria and dispatches them to the different financial institutions while continuously updating ERPs on both status and accounting.”

Key Features of Kyriba Receivables Finance:

  • Fast and efficient implementation: As a result of its use of APIs, Kyriba Receivables Finance seamlessly connects to the seller’s ERP to upload documents (e.g., invoices, credit notes) and updates status and accounting in real time;
  • Advance payment processing: Kyriba Receivables Finance allows for eligibility and limit checks before processing documents or receivable sales to banks. The solution then completes the workflow by connecting to funders and retrieving the status of drawdown requests;
  • Payment and Reconciliation: Once collection reconciliation is complete, Kyriba Receivables Finance automatically settles re-payments of financed and collected invoices to the funder on the due date;
  • Dashboards, Reports, and Tips: Kyriba Receivables Finance offers a homepage widget that makes prepayment status, collections, limits, DSO and other KPIs readily available;
  • Seamless integration: Kyriba Receivables Finance is natively integrated with the other modules of Kyriba’s Liquidity Management platform. It provides real-time visibility into other discounting or payables programs if any (such as Dynamic Discounting, SupplyChain Finance and Confirming). This provides better business intelligence and reporting, enabling a quick, easy and in-depth analysis of global funding programs.

This module is available “for corporates, large and medium companies, as well as financial institutions in white-label solution.”

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