FXpress, the market leader of risk, exposure, and compliance management solutions, and Kyriba, the leader of SaaS cash and treasury management solutions, today announced an alliance aimed at meeting the rising demand for transparency and risk management across cash and treasury operations.
With this joint solution, financial managers of domestic and multinational organizations will achieve total visibility on their cash flows enterprise-wide and facilitate a complete, consolidated view of exposures to implement more effective risk management strategies complying with Sarbanes-Oxley, IAS39, FAS 133 and FAS 157 rules and standards.
The combined solution is expected to attract existing clients of both companies as well as drive new business to a unique "best-in-class" offering.
"FXpress is proud to have delivered leading financial risk management solutions covering interest rate, foreign exchange, and commodity exposures to the marketplace for several years under our brand of FIRSTTM Treasury Risk Management and Accounting SaaS", stated Robert Richardson, CEO of the FXpress. "Joining forces with Kyriba now enables our mutual clients to obtain a complete picture of cash and liquidity across the organization and leverage that information for more effective management of market risks and accounting standards. The best tools are available to safeguard the valued assets of most all organizations."
Kyriba's SaaS platform allows for simple and efficient integration with the FXpress system. "In today's fast-moving financial landscape, companies need solutions that can be implemented and utilized quickly and cost effectively to achieve cash visibility. Our SaaS deployment model guarantees a high level of automation and enables structured workflows impacting operational efficiencies, security and control. The alliance with FXpress greatly expands these capabilities to include front, middle and back office activities associated with hedging, risk management, and accounting, thereby completing the circle for corporate treasury", confirmed Jean-Luc Robert, CEO of Kyriba.