Kyriba, the #1 global provider of cloud treasury and financial management solutions, today announced that Kuwait Food Company (Americana) (S.A.K.) (“Kuwait Food Company”) has joined a rapidly growing number of clients in the Middle East that have signed with Kyriba Middle East FZ-LLC, a joint venture with U.S.-based Kyriba Corp., to modernize their treasury management operations.
“The market is changing more rapidly today than ever, and we can no longer rely on spreadsheets to manage our treasury,” said Ashish Krishna, manager of corporate treasury at the Kuwait Food Company. “Implementing a modern treasury solution will give us more accurate and real-time visibility into our cash resources so we can better provide strategic guidance to fund new growth.”
Oil price volatility is driving senior financial leaders to adopt new technology solutions and gain enhanced decision support solutions. Also, the Saudi Vision 2030 initiative, aiming to propel diversification in the regional economy, has inspired executives to think differently about leveraging innovation in finance technology to drive new growth.
Kyriba announced its rapid growth in the Middle East at the ACT Middle East Annual Summit on 21-22 November in Dubai. In addition to Kuwait Food Company, more than 20 leading corporates in the region are currently using Kyriba to enhance cash visibility and provide decision support to reduce borrowing costs, increase investment returns, and unlock working capital.
“Now in its eighth year, the Summit offers treasurers an unrivaled opportunity to come together to debate the key issues facing treasury and business,” said Peter Matza, Speakers’ Chair at Association of Corporate Treasurers. “Kyriba, a key player in unlocking value for treasury and finance professionals in the Middle East, will be supporting our exciting panel discussion on how corporates can adapt, innovate and excel as the exclusive technology sponsor for the event.”
Kyriba will also be demonstrating its cloud platform and meeting with senior financial leaders at the 2017 ACT Middle East Annual Summit. Attendees can register for a product demonstration to learn how Kyriba can add cash visibility and forecasting to their operation.
“The ACT conference also offers scope to find the best solution with discussions on payments, trade finance, treasury systems and dynamic FX management all delivered by experienced treasurers and market experts,” said Peter Matza.
“The rate and scale of business growth now demand technology solutions to enable faster, more secure decision support,” said Roger Baroutjian, managing director of Kyriba Middle East FZ-LLC and executive managing director of Kyriba’s joint venture partner, Surety Computer Systems LLC. “Kyriba provides critical cash management solutions and supply chain finance that directly impacts working capital targets.”