Last Updated on April 12, 2024 by
LAS VEGAS–(BUSINESS WIRE)–Kyriba, a global innovator in liquidity performance, today announced new AI features within its platform designed to improve cash forecasting, bank connectivity-as-a-service and custom report generation. This AI product expansion complements existing AI capabilities for payment fraud detection and cash management optimization.
“AI is rapidly evolving and transforming how the finance industry works, and CFOs expect us to support their data and AI strategy,” said Greg Person, Senior Vice President Sales, Account Management and Alliances, of Kyriba. “Unlike others in the space, we’re able to increase predictability of cash, risk and liquidity decisions and drive new levels of liquidity performance for our customers because our platform is designed to leverage large data sets without interruption.”
CFOs today serve at the vanguard of their organization’s AI adoption with the expectation that this revolutionary new technology can drive tangible results. According to Gartner, by 2026, 80% of large enterprise finance teams will rely on Gen AI, with significant impact in the areas of trust, risk and security management¹.
Through its new AI features, Kyriba delivers advancements in predictive intelligence, AI-driven decision-making and intelligent automation. These new features include:
- Cash Forecasting: Kyriba customers can create new cash forecasts from historical cash flows with the flexibility to learn from seasonality and other data patterns to increase forecast accuracy and confidence. Building upon Kyriba’s existing Cash Management AI tool, the new Cash Flow AI offers treasury teams a new tool to incorporate more advanced data into their forecasting processes, increasing the accuracy of liquidity projections.
- Bank Connectivity: Customers can use GenAI to update current Kyriba payment formats, including XML ISO20022, the standard for financial messages that enables interoperability between financial institutions, market infrastructures and the Banks’ customers, to meet the unique requirements of their banking partners without customization or third party implementation. This accelerates time-to-market and reduces total cost of ownership for payments and ERP to Bank connectivity projects.
- Custom Reporting: Kyriba’s Open Reports Studio integrates with Microsoft Office Copilot to use natural language to query data, build charts and dynamically format custom reports and data insights with complete automation. The real-time integration enables Kyriba users to automatically incorporate Kyriba data into AI-empowered reporting, which enables customers to free up time and reduce the risk of mistakes all while making a robust, accurate report easily.
“There is no AI strategy without a data strategy and through our bank connectivity and OpenAPI platform, Kyriba has built the foundation for our customers to harness their data and integrate AI into treasury, payments and working capital decisions,” said Bob Stark, Global Head of Market Strategy, Kyriba. “ChatGPT and GenAI advancements have helped us leap forward to deliver meaningful AI solutions for the office of the CFO.”
For more information on Kyriba’s suite of AI tools and innovations, please visit https://www.kyriba.com/.
¹2023 Hype Cycle for Generative AI, Gartner
About Kyriba
Kyriba is a global leader in liquidity performance that empowers CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity. As a secure and scalable SaaS solution, Kyriba brings intelligence and financial automation that enables companies and banks of all sizes to improve their financial performance and increase operational efficiency. Kyriba’s real-time data and AI-empowered tools empower its 3,000 customers worldwide to quantify exposures, project cash and liquidity, and take action to protect balance sheets, income statements and cash flows. Kyriba manages more than 3.5 billion bank transactions and $15 trillion in payments annually and gives customers complete visibility and actionability, so they can optimize and fully harness liquidity across the enterprise and outperform their business strategy. For more information, visit www.kyriba.com.
Contacts
Natalie Paffmann
natalie.paffmann@kyriba.com
+1 503-544-3824
