KYRIBA: IDC SURVEY RESULTS VALIDATE NEW US$30 BILLION ENTERPRISE IT EMERGENCE PRACTICE AREA

KUALA LUMPUR, March 25 (Bernama) -- Kyriba, (the Company) a global leader of cloud-based finance and IT solutions, has announced the results of a major IDC survey commissioned by Kyriba.

The global survey results of over 800 corporate finance executives validate the emergence of a new practice area in Enterprise IT that includes risk management, payments, real-time connectivity, treasury management and working capital finance.

According to a statement, the survey further confirms that predictive analytics, APIs, and artificial intelligence are key integrated technologies required by financial leaders to optimise enterprise liquidity.

The survey highlights a group (leaders) who outperformed the survey set in operational efficiency, technology adoption, and process maturity. They include:

Enterprise Liquidity: 51 per cent of leaders can produce a consolidated view of cash and liquidity in under one hour compared to eight per cent of the less equipped companies; and,

Risk Reduction: 79 per cent of leaders have implemented very effective payment fraud prevention with only 16 per cent of laggards reporting confidence in their programs; 69 per cent of leaders effectively hedge to protect their liquidity with less than five per cent of laggards reporting well performing hedge programs.

“CFOs’ new mission is to identify and activate all possible sources of liquidity to continually adapt to new global volatility. This survey confirms that very digitised organisations are inventing new liquidity management practices that mitigate risk while optimising treasury, payments and working capital finance enterprise-wide and in real-time. Their CFOs deliver actionable intelligence downstream to business decision-makers by transforming data through AI and API-enabled platforms. We are witnessing the birth of a new category of software - Enterprise Liquidity Management,” said Samuel Guillon, SVP Strategy at Kyriba.

“Overall, the survey findings show the increasing importance of liquidity to financial leaders. The Office of the CFO is becoming a liquidity office, driving transformation through data-driven business decisions,” said Kevin Permenter, Research Director, Financial Applications at IDC.

“There is a massive opportunity here for vendors to step in and help CFOs as their role changes. Taken together, we estimated the total available market for such Enterprise Liquidity Management software at US$30 billion in 2021, but the longer-term opportunities for software vendors are much larger.” (US$1= RM4.220)

San Diego-headquartered Kyriba manages more than 1.3 billion bank transactions per year, and 250 million payments for a total value of US$15 trillion annually.

For more information, visit www.kyriba.com.

-- BERNAMA