Kyriba Corporation, the leader of web-based cash and treasury management solutions, gives corporations the ability to generate SEPA Credit Transfer transactions and provides additional life cycle management capabilities for Debt instruments with its new release.
In addition to incorporating usability improvement suggestions from 120 customers, some additional features of the new release also include advanced signatory management capabilities, Days Sales Outstanding (DSO) analysis on receivables, event condition notifications, and a new Payments dashboard.
The Single Euro Payments Area or SEPA will enable corporations and others to make and receive cross-border payments as easily and inexpensively as in their hometown. All retail payments in euros will thereby become "domestic," and there will no longer be any differentiation between national and cross border payments within the euro area. The SEPA initiative goes into effect in January 2008 starting with Credit Transfers, and Kyriba stands ready for corporations to begin generating these transactions.
The enhancements to the Debt module provide additional flexibility in managing life cycle events such as interest rate resets, approval of maturities, payment schedules, amortization schedules, and more. Other new features include loan, interest rate swap and credit line entry and analysis capabilities.
"We are very pleased to be able to offer our customers and prospects so many new features and capabilities," stated Jean-Luc Robert, CEO of Kyriba Corporation. "Kyriba must provide a timely response to regulatory requirements such as SEPA, and flexibility in Debt portfolio management is a must. This new release is ongoing proof of Kyriba's ability to efficiently deliver new features and to constantly enhance its solution, backed by a team of over 40 full-time developers. Once again, Kyriba's web-based model gives our customers a major advantage by allowing us to roll changes out to all of our customers at once, with no upgrade costs."