Kyriba Infuses AI into Platform, Enhancing Cash Visibility

⇨ Kyriba recently announced it has infused AI into its platform

⇨ The key to accurate forecasting cashflows is visibility. By infusing AI into cash forecasts, users can more accurately predict what is coming, giving them better flexibility.

⇨ AI can help update payment formats so companies can work efficiently with more partners outside of the organization.

CFOs and other finance leaders are always on the lookout for new opportunities to improve workflows and help their organization run more efficiently. AI is coming to the forefront as an emerging technology best suited to meet these needs.

In SAPinsider’s recent AI and Automation in Finance Report, nearly one-third (33%) of survey respondents said they are planning to implement AI and automation into their treasury and cash management process over the next three years. A further 28% said that AI-powered cash management offerings could propel them to switch their finance and accounting system.

Infusing AI into Liquidity

To provide CFOs with the advanced capabilities they need to keep pace in a modern business environment, Kyriba recently announced it has infused AI into its platform. These new features offer predictive intelligence, automation, and enhanced decision-making assistance. In a press release, Kyriba highlighted some of the areas where AI is empowering businesses to work smarter:

Cash Forecasting – Kyriba’s AI capabilities helps users generate new cash forecasts based on past cashflows. It also factors in a multitude of other factors, such as seasonality, demand, and other inputs.

Bank Connectivity – To better connect with banks, Kyriba added Generative AI into its platform. This allows users to update payment formats so they can operate with a whole new set of banks and markets without having to rely on third-party solutions or excessive customization.

Custom Reporting – Kyriba added AI into its Open Reports Studio to generate reports and other data insights more efficiently. Real-time integration within the solution helps automatically incorporate finance data into these insights, speeding up the process of generating reports while reducing errors.

“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,” said Greg Person, Senior Vice President Sales, Account Management and Alliances, of Kyriba.

What this Means for SAPinsiders

AI increases visibility. The key to accurate forecasting cashflows is visibility. By infusing AI into cash forecasts, users can more accurately predict what is coming, giving them better flexibility.

Connectivity is key. To break down silos between different institutions and processes, organizations can leverage AI. This advanced technology can help update payment formats so companies can work efficiently with more partners outside of the organization.