Kyriba, the leader in cloud-based treasury management software, has been chosen by FTSE 250-listed RPC Group plc, to deploy its Kyriba Enterprise SaaS (Software-as-a-Service) treasury management system.
RPC chose Kyriba after a competitive review, and will use the system to improve its cash visibility, reduce operational risk and streamline reporting across its network of 150+ bank accounts.
RPC develops a wide range of food, personal and health care as well as domestic industrial plastic packaging solutions. The company today has more than 50 operations in 19 countries, employing more than 11,000 people, with annual sales in excess of £1.1 billon. RPC's treasury department will use Kyriba for a broad range of functions, including cash and liquidity management, bank reporting, and financial transaction management, including debt, FX and investments.
"RPC has operations around the globe, dealing with a large number of currencies and banking partners. So, it's essential that we have a comprehensive, integrated solution with strong bank connectivity," said Carl van Gele, RPC's European Finance Controller. "As we are a small treasury team, we need a system which could reliably and accurately automate most of the manual, operational tasks, enabling the team to focus on more strategic initiatives. Our cash pooling is well established across the Group and the Kyriba system will enable our treasury centre to operate as an in-house bank. We assessed a number of treasury management system vendors and Kyriba's was the only one to fulfill all criteria."
"RPC is typical of many companies we encounter today, in that it is growing rapidly, but maintains a lean treasury team," said Andrew Burns, head of Kyriba UK. "This means that spending a huge portion of the day on manual tasks simply isn't an option. By streamlining and automating key operational processes, such as bank reporting and cash management, Kyriba can help RPC's team focus on more strategic tasks and deliver proactive treasury management for the company."