Kyriba brings AI to cash management

The Franco-American unicorn, Kyriba, is a FinTech specialising in software and SaaS solutions for cash management, payment and financing. It is now adding a new dimension to its offer by using artificial intelligence to improve the automation and prediction quality of its tools.

FACTS

• Kyriba is boosting its services by including a touch of new technology, thanks to AI. The FinTech is launching a new offer called Cash Management AI.

• This solution is presented as self-learning and integrates Machine Learning technology. It captures historical financial data from companies to improve the relevance of its forecasts based on new data.

• In addition, the service offers a functionality dedicated to customisation. Users of the service will be able to adjust forecasts at any time by selecting the optimal confidence level according to their strategy and the organisation's risk profile.

• Dashboards are provided by the service and allow for flexible filters to be applied, data to be viewed over adjustable forecast periods, and a cash flow budget to be calculated.

CHALLENGES

• AI for a more predictive service: Through the integration of Artificial Intelligence technologies, Kyriba demonstrates the potential of data science to predict cash availability and thus ensure greater reliability in financial management.

• Customisable: Cash Management AI provides continuous control allowing users to make real-time forecast adjustments by selecting the right level of confidence based on the organisation's risk profile and policy.

• Following a trend that has already begun: According to a recent IDC survey, 93% of finance executives use real-time information and 99% have adopted business intelligence to make better liquidity decisions. Yet, without the help of its technology, only 20% of finance teams can reliably predict their cash flow beyond one month, according to Kyriba. Cash Management AI is designed to increase visibility and confidence for CFOs.

MARKET PERSPECTIVE

• With 2,500 customers worldwide, 20% of which are Fortune 500 companies, and 25 million payments processed daily, Kyriba's platform was already using Artificial Intelligence technology to power its SaaS platform. Now it is integrating it more frontally into its tools.

• Last January, the company received an award for best cash management software and best open banking cash management solution from Global Finance Magazin.