Kyriba: Your Liquidity Performance Platform

My main use case for Kyriba  is implementing Kyriba  in systems across different companies. I have implemented cash management, payments, and accounting modules for one of the government entities in Saudi Arabia.

I also implemented Kyriba in one of the companies where we faced a challenge with bank connectivity. The client wanted SFTP connectivity; however, it was not available with banks due to the technology being outdated. We resolved this issue by building API connectivity on Kyriba platform.

The best features Kyriba offers are bank connectivity and the visibility of bank statements throughout the system. Secondly, the accounting entries generation and sending it to ERP  for reconciliation significantly reduces work for the business team.

On a day-to-day basis, when Kyriba handles bank connectivity, treasurers no longer need to download bank statements from every bank and compile them together. Previously, half a day would be consumed by this operational activity. With Kyriba, you log in, go to the report, and see all bank balances in just two clicks. This greatly helps treasurers and the business team.

One smaller difference that makes a significant impact is cash management forecasting. When you capture deals in Kyriba, those schedules are generated and already sitting in Kyriba's main cash management module, which gives you cash positioning.

Kyriba should improve its liquidity planning module to allow for longer-term budgetary planning. Secondly, they need to enhance their support system, as the support provided to customers is quite slow. They need to work harder to improve this. Additionally, the GL reconciliation module, where Kyriba can perform bank reconciliation within Kyriba itself, needs improvement as it is somewhat glitchy.

The user experience and support are interconnected. When any team or client encounters a support issue, Kyriba support team is slow to react. That is something they need to work hard on. Particularly, the documentation side of integration needs to improve, as customers would want clear documentation on integrations and IT-related matters.

I give it a seven because of its limitation to handle complex requirements of financial transactions, such as complex derivatives, structured derivatives, and hedge accounting, which the product is not well-built for. The product support is also not strong, which are the reasons for my rating.

I have been using Kyriba for approximately eight years.

We are the alliance partner for Kyriba, acting as system integrators. We do not sell Kyriba licenses; we only perform the implementation. We are a global alliance partner.

We did not purchase Kyriba through AWS Marketplace ; it was embedded in the licensing. We bought this from Kyriba, and they charged us the final amount, so I do not know what they pay to AWS .

If their requirements are not complex and they do not use structured derivatives, hedge accounting, or commodity hedging, and their requirement is straightforward—just wanting to centralize their bank accounts and cash management and cash positioning—then Kyriba is a perfect system for them. It is not as expensive and provides full value for the cost. However, if the requirements are more complex, requiring more risk analysis or hedging, then Kyriba is not the best system.

Reconciliation time has reduced considerably. Previously, organizations I have observed performed manual entries of accounting entries that were error-prone. Now, once rules are generated and tested, everything works correctly. This has significantly impacted their time for monthly closing.

Measuring this impact, I would say previously companies took about a week or ten days extra to close. This has been reduced to a couple of days or three days. Effort has been reduced by approximately seventy-five percent.

Currently, Kyriba is using agentic AI. Governance  and security aspects are crucial as the database is hosted in Europe. Companies in the Middle East particularly want to keep their data local, so this is something to consider. What they are using now is agentic AI, which is an embedded system where you type your task, similar to using ChatGPT. It is limited at the moment, but governance and data structure need improvement, which they will enhance over time.

Currently, the accuracy and reliability of output with Kyriba's AI capabilities are acceptable because they are not using it to perform tasks directly. It is agentic AI where you can ask to create reports and similar tasks. It is not widespread yet; however, it is still doing something useful.

I rate this product a seven out of ten.

My main use case for Kyriba  is as a treasury workstation to manage cash flows and payments.

A specific example of how I use Kyriba  for managing cash flows and payments in my daily work is that we get forecasts from different source systems which are converted into Kyriba's cash flow format and loaded into Kyriba, and the business operations team uses that information to manage the cash flow.

Kyriba offers several best features including an integrated platform for access to the banks, which means Brighthouse does not need to establish separate infrastructure connectivities, especially separate network connectivity with individual banks; a great platform for reviewing payments before they are approved and sent to the banks; good reporting capabilities; and it is very cost-effective compared to other projects in the market, such as SAP Treasury.

Out of those features, I find myself relying on the integrated bank access the most because we deal with quite a number of banks, and if Kyriba did not have this feature, we would have to establish connectivity with all those individual banks, which would be a nightmare since banks keep upgrading their systems very often, and Kyriba manages the bank relations and connectivity on behalf of the clients.

Kyriba has positively impacted my organization as it is used as a treasury workstation, which helps us integrate with our investment platform called BlackRock, a product by Aladdin, thereby assisting with profitability as a whole.

Kyriba has helped with profitability by giving us a platform to notify BlackRock about the available cash for investments, and Aladdin is used to invest this money, which is helping us with profit instead of just letting it sit in the bank account.

Kyriba can be improved as it provides a lot of new features that we have not taken advantage of since we implemented it back in 2017 at Brighthouse Financial, and since then, Kyriba has introduced features such as real-time payment monitoring and many AI-related features that we have not been utilizing; our first step would be to assess Kyriba's implementation at Brighthouse and ensure that it is used in the most optimal manner.

Kyriba could improve their support, as the production support may sometimes be a bit delayed.

Regarding Kyriba's AI capabilities, I have not looked into those subjects in detail, as I have only heard about them casually in the past, but from a security point of view, Kyriba is really good with multiple levels of approvals and solid user administration.

Kyriba integrates with our other financial systems or platforms through file-to-file based integrations at this moment, as we are not leveraging API capabilities; we have files from the source system which our internal ERP  converts to Kyriba's expected format, and after conversion, the files are automatically integrated into Kyriba through sFTP, with exports also being processed through our ERP  system.

I have been using Kyriba for about nine years.

Kyriba handles disaster recovery and business continuity for our organization by having a disaster recovery website that automatically switches over to the DR site during a system failure, while we internally notify our Brighthouse team and get into a call to resolve the issue and restore the main system, and Kyriba has been doing well in that aspect.

Kyriba could improve their support, as the production support may sometimes be a bit delayed.

I measure the success of our Kyriba implementation with clear goals to ensure that every payment is made on time without failure and goes to the right individual and bank account, and I have seen fair success in the nine years since we implemented it.

My advice to others looking into using Kyriba is that it is a great product and very cost-effective, especially compared to other competitors in the market, and I have been very happy with Kyriba over the past nine years.

I hope we can implement the new Kyriba features soon, as they should be more beneficial to the business. I give this product a rating of seven.

Kyriba  is used for cash forecasting, cash liquidity, banking connections, GL reconciliation, and cash accounting.

For liquidity, bank statements are received daily in electronic format within Kyriba  from all banks across the country. Based on that, all bank flows are codified into budget codes, which makes these budget codes very useful for creating a cash liquidity position and comparing actuals versus forecasts.

Kyriba is used for GL reconciliations and bank reconciliations. Accounting transactions come from the ERP  into Kyriba, and since bank transactions also come directly to Kyriba, the two can be reconciled and matched, speeding up all bank reconciliations that must be completed on a month-to-month basis during the accounting close.

Kyriba has positively impacted the organization by providing a view of all bank accounts around the world and helping to secure payments, as all payments now have double signature and there is an audit trail in the tool, allowing visibility into who signed what payments, which is excellent in terms of security and cash visibility. Kyriba gives a view of all liquidity across the world and enables financial decisions based on that.

Kyriba has helped the team by saving time. A few years ago, reconciling cash required going into every bank portal and attempting to do cash management through Excel, which took hours and was not precise or fully accurate. Now, bank transactions are received every morning, and the process can be automated with mapping rules, so it should take only thirty minutes every morning for the treasurer to do daily cash management.

Kyriba offers the best TMS  on the market for cash liquidity, cash forecasting, net debt, and GL reconciliation. The ergonomics of the tool are excellent, and it is very easy to use.

Integrations with Kyriba are excellent, but regarding reporting, there is still a lot of work to do. Excel and PDF files can be exported from the tool, but Power BI is significantly better for reporting. Many companies export data to Excel from Kyriba and then create PowerPoint presentations and graphics outside of Kyriba, so if Kyriba could improve in terms of reporting, that would be beneficial and save considerable time for finance departments.

Regarding improvements, reporting and AI capabilities are priorities. Kyriba is developing some capabilities in this area, but having an AI agent within the tool to assist with analysis would be valuable.

Concerning customer support improvements, while there is the ability to escalate cases, it would be beneficial to have something more instantaneous. Rather than receiving an answer within twenty-four to forty-eight hours, receiving a faster answer would be ideal.

Kyriba has been used across three different companies for approximately eight years.

Kyriba is stable.

Kyriba's scalability is excellent, as it can be scaled very quickly if more licenses are purchased and implemented across all desired countries.

Customer support is excellent.

Prior to using Kyriba, the organization operated manually using Excel.

A return on investment has been realized in terms of time saved, as hundreds of hours have been saved with bank reconciliations, cash accounting, cash management, and cash forecasting.

The experience with pricing, setup cost, and licensing is that it is very expensive, as the licenses are quite expensive. Regarding the setup cost, implementation is excellent and the team really knows what they are doing, but the only issue is that year over year, to renew the licenses, all these different types of licenses cause the costs to add up very quickly.

Before choosing Kyriba, an RFP was conducted with GIS  Treasury.

My advice for others looking into using Kyriba would be to ask how many countries they want to use it for, how many bank accounts, and how many banks, as it only makes sense to implement Kyriba if you are part of a large organization. Kyriba is the best tool on the market right now, and I really recommend it. This review has been given a rating of nine out of ten.