Kyriba has announced increased demand from multinational organisations and corporations in the Asia Pacific region (APAC), having doubled the number of clients in the region in the past 12 months compared to Q3 last year. The company attributes this growth to the need for global, real-time visibility of cash positions, and established expertise in international markets, giving APAC organisations the ability to expand their operations while facing market headwinds.
“We have adopted Kyriba as part of our digitalisation 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.”
Notable multinationals in addition to Isuzu Motors include DiDi and HAND in China; Uno Minda and Tech Mahindra in India; InstaReM in Singapore; as well as Eisai and Suntory Beverage & Food in Japan.
The company notes that 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% from 2018 to 2021, with similar deceleration in China.
Outside of the Asia Pacific region, currency exchange losses reached US$44bn 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.
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