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Geopost selects Kyriba for web-based cash-flow forecasting and multibanking
Frankfurt, Vienna, Zurich (ots) - GeoPost is optimising its cash-flow forecasting and multi-banking connections with the help of technology from Kyriba.
Kyriba, leading web-based cash-flow forecasting and multi-banking Application Service Provider (ASP) have today announced that GeoPost Group Treasury has chosen Kyriba platform for its cash-flow forecasting, payments, cash positioning and pooling activities.
Together with Group's centralised treasury in France, all major GeoPost subsidiaries will be accessing Kyriba platform and single database over the internet. These major subsidiaries are around Europe:
- DPD (Germany) - Parceline (UK) - Masterlink (Poland) - Interlink (Ireland) - Interlink Express (UK) - Chronopost International (France) - Taxicolis (France) - ColiPoste (France)
Kyriba Communication HUB will connect directly in each country to local and international banks giving each subsidiary as well as centralised treasury centre automatically actual cash positions from multiple banks.
The Communication HUB further allows GeoPost to set-up group-wide payment factory and automates reports in particular comparisons between actual bank balances and forecasted estimates from various subsidiaries and banks across the Europe.
Regis Henry, Group Treasurer says: 'After 1.5 months we went live with all operation in France. This was realised according to plan and in budget. We are now rolling-out the application to subsidiaries around Europe and will still go live with some of them before Christmas. We found Kyriba platform flexible and cost-effective and it works particularly well for us because we do not have dedicated IT-personnel supporting specifically treasury applications. We want internal IT to concentrate on our core business and now Kyriba manages for us the application, up-grades, hardware, all banking interfaces and we can contact their hotline if we need application support.
We find Kyriba's license model quite interesting because we are only charged on actual users per month plus bank transaction volumes, and not perpetual license and annual support fees.
Previously, we spend lot of time on manual aggregation of excel-based forecasts and bank balances and now all group companies enter forecast data directly into the same platform and database. This helps our auditing process and since the application is available in multiple languages, our subsidiaries have been adopting the system very quickly (available in German, English, French, Czech, Slovak, Russian, Italian and Spanish). All and all, Kyriba's platform allows us to have cash management system, payment factory and cash-forecasting in one system and database.
Marko Sjoblom, Managing Director of Kyriba further comments:
'GeoPost represents yet another corporation who have realised how much economical it is to have cash management application on pay-as-you model rather than on old fashioned client server installation. Furthermore, they are benefiting of having one system and one static data management for all group cash management requirements, including payment factory and liquidity planning (including cash-flow forecasting and comparisons to actual balances). We have now tailored these modules in such high pre-configuration that some of our smaller and mid-sized corporations with less than ten operating units are able to go live in just two-three weeks.
Our web-based Bank Communication HUB is perceived really well by the market because corporations do not have to maintain multiple static data or bank terminals anymore themselves. Having the access to all your banks across the borders from your central cash management system has been a good idea for a while but it seems like we are the only one able to really execute this over the internet without any major problems. There are already nearly 150 different corporations using our application today and we have started replacing not only excel based cash forecasting sheets but also some very well known client-server applications which are failing to meet the demand corporations and changing legislation.
Kyriba Corporation is the market leader in real time, web based on-demand Cash Management. Our very affordable ASP pricing and value packed cash management solution puts customers in control of their liquidity, forecasting and treasury management needs. Because Kyriba is an ASP, our solution does not require the purchase of any hardware or software. Furthermore there is no installation, maintenance or upfront capital expenditure required to utilize the Kyriba platform. Our mission is to provide a simpler better way of cash management. Kyriba is a privately held company. Our investors include Commerzbank AG, GRP Partners and Mangrove Capital Partners.
ots Originaltext: Kyriba GmbH