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Kyriba GmbH

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.
About Kyriba:
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.

Contact:

Marko Sjoblom
E-Mail: msjoblom@kyriba.com
Phone +33/678/63'80'38

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