Kyriba, a cloud-based treasury management solutions, closed H1 2014 with 33 percent overall bookings growth, compared to the corresponding period in 2013. The company signed 45 new treasury, risk and supply chain finance clients during the quarter, including Cablevision, the eighth-largest cable TV provider in the United States, and one of the world’s 10 largest banks by total assets.

Kyriba now has more than 850 corporate clients running its SaaS treasury management solution (TMS), and it has the largest client acquisition rate of any vendor in the TMS industry, which is forecast to grow from $2.2 billion in 2013 to $3.5 billion in 2018, according to analyst Apps Run The World. Kyriba’s Northern Europe and Japanese operations contributed 554 percent and 146 percent bookings growth respectively over H1 2013.

More strategic alliances and new developments

Kyriba has increased their strategic alliances during the quarter. It enhanced its bank connectivity with the announcement of an agreement to provide SWIFT’s cloud-based bank connectivity solution, Alliance Lite2, through Kyriba Enterprise. The company also experienced considerable momentum in product development during the quarter. It released Kyriba 14.1, containing a wide range of functionality improvements. Kyriba invests 22 percent of revenues in R&D, and will continue to deliver product innovation throughout 2014.

“I am delighted with our momentum over the first half of this year. We have signed a record number of clients throughout the regions where we operate,” said Jean-Luc Robert, chairman and CEO of Kyriba. “Our newest markets have shown phenomenal growth, and in our established markets such as North America and Southern Europe, we continue grow both with clients who are implementing their first TMS, as well replacing incumbent treasury systems vendors at major Global 2000 brands.

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CTMfile take: All TMS suppliers now provide a SaaS version of their product, and they all count their number of installations differently. Whatever way you look at the numbers, dedicated SaaS suppliers are growing fast, and a new major dedicated SaaS TMS provider will be joining the market later this year. The TMS market is innovating at a rapid rate which can only by good for corporate treasury departments.