Kyriba, the global leader in cloud treasury and finance solutions, today announced increased demand from multinational organizations and corporations in the Asia Pacific region (APAC). Kyriba has doubled the number of clients in the region in the past 12 months compared to the same time in Q3 last year. This rapid growth is attributed to the need for global, real-time visibility of cash positions, and established expertise in international markets, giving APAC organizations the ability to expand their operations while facing market headwinds.
“We have adopted Kyriba as part of our digitalization objectives to empower our finance and treasury teams with digital technology solutions that enhance data analysis of our financial positions in real-time,” said Seng Ti Goh, General Manager of Finance and Administration at Isuzu Motors Asia. “Having fast data analysis enables our finance teams to better partner with all of our various business divisions in automotive manufacturing.”
Many notable multinationals in addition to Isuzu Motors, including DiDi and HAND in China; Uno Minda and Tech Mahindra in India; InstaReM in Singapore; Eisai and Suntory Beverage & Food in Japan, have adopted Kyriba as part of their digital transformation objectives in 2019 to better navigate increased global uncertainty.
Market volatility and indicators of a global economic downturn have significant implications for multinational corporations. For the APAC region, the World Bank reports Asia’s regional growth is projected to decline 13 percent from 2018 to 20211 with similar deceleration in China.
“We are rapidly growing in our key markets, Japan and Singapore, and we now have a stronger customer base in China and India, with additional traction in Malaysia and Indonesia,” said JaeSon Kim, APAC Managing Director at Kyriba. “We are innovating solutions to unlock value for our clients, which puts them in a strategic position to grow even during times of global instability.”
Outside of the Asia Pacific region, currency exchange losses reached $44B for North American and European corporates, according to a recent Kyriba Currency Impact Report, an analysis of the reported effects of currencies to North American and European companies’ Q2 2019 earnings. The report serves as a key benchmarking tool for global corporations.
Kyriba will be attending C-Engage, in Singapore at the Grand Hyatt on Nov. 26. Meet the team and learn more about how Kyriba is helping CFOs and CIOs with digital transformation in APAC. For more information about Kyriba’s strategic approach to fueling international expansion in APAC and other regions while protecting corporate value, contact www.kyriba.com.
About Kyriba Corp.
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, London, Paris, Dubai, Singapore, Shanghai, Tokyo, and other major locations. For more information, visit www.kyriba.com.
1 East Asia Pacific Economic Update, October 2019: Weathering Growing Risks-The World Bank