Kyriba Launches New Receivables Finance Solution

Cloud-based financial and IT solution provider Kyriba has launched a new receivables finance solution.

The new Kyriba Receivables Finance provides greater control over factoring or securitization programs, enables selective invoice financing and provides a real-time overview of credit facilities, utilization, limits and program performance, Kyriba said in a Tuesday (Dec. 13) press release.

“Kyriba Receivables Finance enables CFOs to release funds tied up in unpaid accounts receivables, quickly convert them into cash and optimize decision making,” Kyriba Head of Working Capital Edi Poloniato said in the release. “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.”

This multi-funder solution integrates all vendor programs into a single platform, according to the press release.

It pulls invoices from one or more enterprise resource planning (ERP) systems, uses each funder’s criteria to identify eligible documents, send them to the financial institutions (FIa) and updates the ERPs on both status and accounting, the release said.

Kyriba Receivables Finance connects to the seller’s ERP via application programming interfaces (APIs) and integrates with other modules of Kyriba’s Liquidity Management platform to provide better business intelligence and reporting, per the release.

It also allows for eligibility and limit checks, connects to funders, automatically settles re-payments, and provides dashboards, reports and tips, according to the release.

Kyriba Receivables Finance is available for corporates, large and medium companies, and FIs.

“A lot of companies die despite their profitability because they don’t have the tools to manage or inject cash into their company,” Kyriba Vice President of Strategic Marketing Bob Stark said in the release, adding that companies are facing higher energy prices, 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,” Stark said.

The launch of this new product comes about two weeks after Kyriba and J.P. Morgan Payments teamed up to launch a real-time treasury solution.

Offered to the companies’ mutual clients through a new API, the solution provides RTP network payments, payments status and bank reporting.

“The new API integration empowers our mutual clients with real-time treasury and rapid decision support to improve financial resilience through accelerated investments, reduced borrowing and more effective hedging,” Stark said at the time.

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