Kyriba Reviews & Insights

Score9.8 out of 10

51 Reviews and Ratings

Community insights

TrustRadius Insights for Kyriba are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Dynamic and Easy to Use: Users find Kyriba to be a dynamic system that is easy to use and helps keep their cash management in order. Several reviewers have stated that they appreciate the user-friendly interface and how it simplifies their daily tasks.

Predictive and Automatic Software: Users consider Kyriba to be a predictive and automatic software that greatly aids in treasury management. Many users have mentioned its perfect daily reconciliations and the absence of errors, which saves them time and ensures accurate financial data.

Bank Account Management Features: Users appreciate that Kyriba has features for bank account management and praise its short learning curve. Multiple reviewers mention that it effectively maintains a large multi-bank account structure, providing daily visibility to all bank account balances for Treasury and other departments.

Reviews

31 Reviews

Leverage the Power of Automation

Rating: 9 out of 10

April 11, 2024

Use Cases and Deployment Scope

We leverage Kyriba today on a global scale to capture our bank statement reporting to support cash positioning and forecasting, and to support our global payment activity. Having Kyriba in maintain our banking connections for our payment activity allows us to minimize the strain on our IT department from maintaining the numerous connections and free them up for more value-added activities. We also leverage Kyriba for other functionality as well, such as FX hedging, accounting, bank account management, capturing debt/investment positions, etc. This has allowed us to standardize processes, increase controls by reducing reliance on banking portals, and provide more real-time visibility into cash balances/forecasting to make more proactive strategic decisions.

Pros

Bank Connectivity (inbound/outbound)
Liquidity management and analytics
Increased automation of processes

Cons

Training/classes are too expensive
Too many enhancements rolled out on new modules, increasing the annual cost of the tool or the ability to integrate more/fully leverage the tool.
Continued improvement in the reporting and dashboarding capabilities

Likelihood to Recommend

Kyriba is well-suited for decentralized and/or global companies with numerous users, bank accounts and processes that are non-standardized or manual in scope.

Verified User

Analyst in Corporate (5001-10,000 employees)

Vetted Review

15 years of experience

10/10 Cash Management!

Rating: 10 out of 10

March 8, 2024

Use Cases and Deployment Scope

We have been using Kyriba since our go-live deployment in 2020. It has been instrumental in improving our daily cash management and forecasting and bank account administration. Our Kyriba support team has been hands on every step of the way, which has helped us trouble shoot issues, explore and test new capabilities and stay up to date on training, new features and Kyriba events. The level of visibility to our cash position has been helpful for all levels of our department.

Pros

Real time visibility to cash position
Increased automation to cash procedures

Cons

Rigidity of reporting between modules, although this has been improved with excel reporting feature
Learning curve for users regarding bank connectivity, especially for international use cases

Likelihood to Recommend

Our Daily Cash process has been greatly improved through Kyriba. We’re able to easily generate reports for leadership that improve visibility and decision making throughout the day.

Verified User

Analyst in Finance and Accounting (10,001+ employees)

Vetted Review

5 years of experience

Would Purchase Again

Rating: 8 out of 10

February 17, 2024

Use Cases and Deployment Scope

Initially, we started using Kyriba for more streamlined cash reporting. We were a rapidly growing company and the trying to run liquidity reports in Excel, from multiple different bank portals, was becoming incredibly cumbersome. It became obvious, fairly quickly, we need a scalable solution to support our cash operations through multiple growth stages. Kyriba allows us to aggregate all bank portal + account activity in one spot with intra-day reporting available in a matter of seconds. It is one source of truth for all cash, payments, account-related data and keeps our head count static, despite growth, because of the automation available. We are in the process of exploring additional modules to optimize other parts of our department - auditing, reconciliation, covenant tracking - but Kyriba has been a game-changer.

Pros

Connectivity to bank portals is great
Addresses more than just cash/cash reporting, multiple modules available for process enhancement across your department
Does not internal tech team for implementation so we were able to move much faster

Cons

Kyriba is not very intuitive. It takes time and a ton of effort to leverage as an asset. Once you get there, it is worth it.
Connectivity file formats sold to us up front ended up changing during implementation.
Classes/seminars to learn more about Kyriba are incredibly expensive on top of your annual fees.

Likelihood to Recommend

Kyriba can support very robust company operations. It is incredibly scalable and dynamic.

If you are looking for a simple, automated cash forecasting/reporting solution, I would make sure to understand the breadth of the implementation process and the time needed post-implementation to acclimate to the system.

Verified User

Director in Finance and Accounting (201-500 employees)

Vetted Review

3 years of experience

Kyriba Implementation in Progress!

Rating: 10 out of 10

February 12, 2024

Use Cases and Deployment Scope

We are in the process of implementing Kyriba for cash management and forecasting, bank account management, capturing financial transactions, making payments and planning liquidity. So far we have implemented cash management and forecasting and are working through financial transactions. The product addresses our needs to report a daily cash position.

Pros

Reconciles forecasted cash flows to actuals with sophisticated logic rules
Automates daily business processes with templates and schedules
Summarizes data well with easily customizable on-screen reporting

Cons

Some of the financial transaction cash flows do not integrate well with cash management and forecasting
Dashboards and Power BI are not readily available out of the box in the baseline product
Tracking of interest on bank accounts is not available in an automated fashion

Likelihood to Recommend

I believe Kyriba is well suited to organizations with large volumes of cash transactions. Multinational organizations with largely disbursed teams will benefit from the aggregation of information into one source. I feel like organizations with more complex trading environments may be better suited with another product.

Verified User

Vice-President in Finance and Accounting (51-200 employees)

Vetted Review

1 year of experience

Best cash management system.

Rating: 8 out of 10

Incentivized

January 27, 2023

Use Cases and Deployment Scope

The Treasury business may meet its operational needs in the areas of cash management, bank management, payments, liquidity, etc. with the help of Kyriba, an approachable piece of software. The number of mistakes and technical problems with bank statement integrations was reduced. Our reporting has greatly improved, taking much less time and effort.

Pros

It has very strong connectivity with banks for bank statements.
I appreciate being able to accurately predict my cash flows.
Since it is cloud-based, there is no software to keep up on servers.

Cons

It is difficult to implement.
Kyriba customer service is unresponsive; I rarely get a reply within a day.
It is very hard to customize.

Likelihood to Recommend

The user interface of Kyriba is interactive. It is a useful platform for managing cash and gives users access to current liquidity positions. The daily reconciliations offered by Kyriba are excellent and the company delivers thorough reports. However, in some scenarios where we need customer support, it can still improve.

Shivam Sharma

Consultant in Information Technology at Atos (10,001+ employees)

Vetted Review

2 years of experience

650+ hours per month saved with Kryiba!!

Rating: 10 out of 10

Incentivized

March 25, 2022

Use Cases and Deployment Scope

Cenveo Worldwide Limited uses Kryiba to manage the daily net liquidity of the company. Kyriba exceeded our expectations with the implementation of multiple modules that allowed us to eliminate labor-intensive processes eliminating 650+ cross-function hours. With the use of Kryiba, the Treasury team has access to real-time liquidity positions without having to manage multiple bank portals. With the implementation of the payment builder module, Cenveo continues to have complete control of payments at the individual level but gained additional functionality in analytical data that was labor-intensive to extract previously. The bank fee analysis module provided Cenveo with the granular analytical data to mitigate additional fees that were not part of the contract. We are extremely satisfied not only with the Kryiba as a solution but as with the level of customer support and continued focus on exceeding the client's expectations. We look forward to building upon the modules that we have implemented to date.

Pros

Customer Support
Bank Connection
Cash Forecasting
Bank Fee Analysis
Cash and Liquidity management

Cons

all of our users are extremely happy with the user-friendly system; however, in some areas, a "back" button with be helpful, or not having to select "view all" would be helpful.

Likelihood to Recommend

Kyriba is extremely user-friendly from implementation to daily use requiring minimal training for users specific to one area/module. Kyriba is perfect for stress testing forecasts; providing additional insight into potential risks facing the organization. With the increased visibility and accuracy into cash position (both short-term & long), Kryiba allows the Treasury team to optimize resources for a greater ROI. Other items include reducing bank fees, optimization of payments, and risk reduction by providing a level of support to reduce human error.

Benjamin Seal, CTP

Vice President Treasury Services in Finance and Accounting at Cenveo Worldwide Limited (501-1000 employees)

Vetted Review

1 year of experience

With Kyriba we have greater order and control in our treasury management

Rating: 10 out of 10

Incentivized

January 21, 2022

Use Cases and Deployment Scope

Kyriba is powerful cash management software. At first we did not believe that this software would bring us so many benefits, but today we cannot stop using it. The management of the bank account is very good, it allows us to pay the bills on time, it does not slow down the transactions, it is not an expensive software, since the benefit is greater. We started using it due to the lack of software of this type, since the process was manual and a bit clumsy, Kyriba offers us a very good service, the reports are detailed and with daily reconciliations at the level of a high-end software.

Pros

It is a very dynamic system, it does not require training and we keep our cash management in order.
I like that it is cloud based, because it is safe to use and results are seen quickly.
It is a very predictive and automatic software to achieve great treasury management.
Perfect daily reconciliations, no errors, Kyriba has bank account management features, has a short learning curve.

Cons

I have no complaints since we started using it, it is a proactive and dedicated system in its functions, treasury management is the most proactive thing we have noticed, we know that there is similar software, but not with the same features and scalability as Kyriba.

Likelihood to Recommend

10 points for Kyriba is the least we can give you as we have achieved many cash management benefits. Today we don't have the same problems as when we didn't have Kyriba. It improved the payment relationship with our suppliers and provides us with detailed reports of all the financial processes that are carried out in bank management, we recommend it and we will use it indefinitely.

Bernadette Johnsen

Senior Account Manager in Finance and Accounting at Arrow Electronics (10,001+ employees)

Vetted Review

2 years of experience

KYRIBA - UNLEASH THE POWER OF YOUR CASH

Rating: 10 out of 10

Incentivized

December 15, 2021

Use Cases and Deployment Scope

We use Kyriba in order to manage currencies risks, payments, intercompany loans, bank loans, and intercompany cash reconciliation. Kyriba is fully integrated with corporate ERP (GAMMA ENTERPRISE distributed by TEAM SYSTEM) and SAP Business One. Kyriba helps us to resolve some problems as: - liquidity allocation between different banks in order to maintain a correct balance among the accounts; - cash pooling management between corporate and subsidiaries (12 entities); - loans simulation in order to manage interest risk.

Pros

liquidity allocation between different accounts
loans simulation in different scenarios
payment management

Cons

credit collection
customer risk analysis
currency risk management

Likelihood to Recommend

Kyriba is a good tool but is important that exists a specific finance function inside the company. In order to implement Kyriba is mandatory that employees with finance knowledge must be dedicated to [following] the implementation project. Is also important that IT personnel is dedicated to the project because ERP integration can be really demanding in terms of time and customization.

Pietro Di Cino

Group Controller in Finance and Accounting at Valagro S.p.a. (501-1000 employees)

Vetted Review

3 years of experience

Versatile and useful treasury management tool

Rating: 8 out of 10

Incentivized

November 14, 2021

Use Cases and Deployment Scope

Kyriba is a banking and treasury management software deployed across our group of companies that performs the following functions: Daily bank reconciliation to timely input into the ERP/ledger of all transactions treasury management and monitoring of bank balances across multiple entities, jurisdictions, banks, and currencies payment file processing single source of truth for bank account admin i.e. signatory lists management reporting on incoming and outgoing transactions.

Pros

Bank Reconciliations - identifying outstandings on a daily basis and compiling a list of reconciling items.
Payment file processing - ACH, BACS, and SEPA payments.
Transactional reporting - lists of transactions for AP/AR entry.
Balances reporting - monitoring account balances for treasury management.

Cons

Implementation - is complicated, adding a function, feature, or account can be tedious. Communication between Kyriba and the bank is usually a bottleneck.
Jargon- the software is complex and not necessarily intuitive. the help feature is limited.

Likelihood to Recommend

This is useful software for large and/or international companies with complex banking activities and requirements. It requires significant investment in staff training and significant effort to implement.

Verified User

Team Lead in Finance and Accounting (501-1000 employees)

Vetted Review

7 years of experience

Demands attention and concentration but worth trying

Rating: 9 out of 10

Incentivized

September 5, 2021

Use Cases and Deployment Scope

Kyriba is a great product that has been rendering its services in the cloud treasury and financial management department. This product is known to serve services in Treasury Management and Financial Risk Management. There are so many amazing and unique features in this product like supply chain finance, risk management, payments, and fraud management. It is giving me fantastic services. Our department is satisfied with its services.

Pros

Coming to the things going well of this amazing product then I think that the forecasting element of this product is a good aspect about it.
This product has a primary goal and objective of empowering financial leaders along with their teams with the rightful solutions for cash and risk management.
The reconciliation automation is also a great facet about the unique software.
This solution works well for position a cash flow creation. Altogether, the pros of this software are endless.
In Treasury Management, this product is used in bank reporting, cash positioning, bank account management, and even cash account management.

Cons

There are a few downsides as well for this product like the system processing is different with different modules which are quite strange and sometimes get pretty taunting for the users.
Also, the debt module needs improvement and should become more relevant to the overall software. This is one of the biggest cons I would say and it also needs to be fixed immediately for a better user experience.

Likelihood to Recommend

This tool is a great solution and in spite of all the flaws, it has been rendering its services for the longest time. The platform is user-friendly and it just completely empowers your organization with a whole view over all types of cash positions that automatically provides an organization with the liberty to make a correct decision at any point in time. From my experience, I must say that this product has been delivering a highly secure enterprise platform.

Paulo Moreno

Software Engineer in Engineering at AFRY (10,001+ employees)

Vetted Review

1 year of experience

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Demands attention and concentration but worth trying

Rating: 9 out of 10

Incentivized

September 5, 2021

Use Cases and Deployment Scope

Pros

Coming to the things going well of this amazing product then I think that the forecasting element of this product is a good aspect about it.
This product has a primary goal and objective of empowering financial leaders along with their teams with the rightful solutions for cash and risk management.
The reconciliation automation is also a great facet about the unique software.
This solution works well for position a cash flow creation. Altogether, the pros of this software are endless.
In Treasury Management, this product is used in bank reporting, cash positioning, bank account management, and even cash account management.

Cons

There are a few downsides as well for this product like the system processing is different with different modules which are quite strange and sometimes get pretty taunting for the users.
Also, the debt module needs improvement and should become more relevant to the overall software. This is one of the biggest cons I would say and it also needs to be fixed immediately for a better user experience.

Likelihood to Recommend

Paulo Moreno

Software Engineer in Engineering at AFRY (10,001+ employees)

Vetted Review

1 year of experience