Tuesday 13th October, 2015

Kyriba, a leading next generation software-as-a-service (SaaS) treasury solution provider, has launched 'Kyriba Invoice Financing', a new supplier finance offering. The software-as-a-service also optimises working capital, improves free cash-flow, and provides solutions to reduce disruption to the global supply chain.

According to French Analyst, Altares data, supplier credit has become an essential source of financing for companies globally: in France alone, total outstanding payments for businesses amount to €635 billion compared to €685 for short term bank loans. Over the past year, a tougher approach to intercompany payments has led to a 13.6-day increase in supplier payment delays, which accounted for €4 billion at the end of July 2015 (+11.7% compared to July 2014).

In this context, working capital requirement management is essential for the development of small to medium enterprises and major corporations alike.

Jean-Luc Robert, CEO of Kyriba, said, "With this new offering, Kyriba is unlocking greater flexibility for companies of all sizes, giving them greater control over their finances, without the penalties that usually come with reverse factoring. In a rigid and highly regulated sector, Kyriba has demonstrated quick and agile execution, harnessing technology to promote innovation in a new ecosystem with significant development prospects. For the past 10 years, we have been forging solid partnerships with our clients and with today’s launch, we are taking a step further to create a more flexible financial environment to help companies of all sizes grow their business."

Kyriba Invoice Financing has three new features consists of; Dynamic discounting, Reverse factoring and Reverse factoring with credit extension.