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TMS growth continues: Kyriba and City Financials post record growth in 1H 2017

The first TMS supplier results for 1H 2017 show that there has NOT been a downturn contrary to the doom and gloom predicted for the industry. Amusingly all suppliers are claiming that they are a leader in their niche.

According to research by IDC, the vast amount of growth in treasury management through 2020 will occur in SaaS (software as a service). This prediction is confirmed by these results.

Kyriba

Kyriba Corp., “the global leader in cloud-based treasury, cash and risk management solutions”, announced record growth for the first half of 2017, with a 43% year-over-year increase in sales bookings. The results in the 1H 2017 included:

  • 109 new clients worldwide, including major brands and multinationals such as Adecco, AmTrust, BW Group, Fuji Oil Company, Omni Hotels & Resorts, Transcosmos and many more. The additional logos bring Kyriba’s total customer base to more than 1,600 worldwide, the most in the treasury and risk management industry.
  • new capabilities that empower CFOs and global financial teams to reduce operational and financial risk for risk scenario analysis, managing credit risk, and payment controls.
  • Rapid growth in Kyriba’s partner program, including adding strategic vendors such as BSP, FHL, Netsoft, RSM and World First, as well as securing a major white label partner in the ERP space. 

User quote: “We selected Kyriba, the clear market leader in cloud treasury and risk management, to enable greater visibility into our worldwide cash reserves, and to deliver stronger financial controls around payments and compliance," said Jessica Cheung, general manager corporate finance at BW Maritime—a subsidiary of BW Group

CEO quote: “Kyriba delivers the most innovative approach for solving today’s most complex financial challenges, including fraud, cybercrime, regulatory compliance and interest rates,” said Jean-Luc Robert, chairman and CEO of Kyriba. “Our growth is due to our ability to help modern CFOs and finance teams streamline key processes, protect against loss from risk and fraud, and drive strategic growth through improved decision support and forecasting.” 

ION’s City Financials

City Financials, a pre-configured treasury and risk management solution for multinationals, grew its bookings by 247% in the first half of 2017, compared to growth during the same period in 2016. New customers include corporate treasuries across the U.S., U.K., Sweden and Belgium.

COO quote: “Growth in new customers this year is being driven by multi-national corporations wanting a cost-effective way to standardize their treasury and risk management activities,” says Kelly Scammell, Chief Operating Officer overseeing ION’s City Financials solution. “It’s reflective of the continuing global trend toward cloud-based treasury management systems. In addition to new sales of City Financials, existing customers continue to switch to the private cloud version of our system, including the first two clients to have ever signed with City Financials.”  

How they see themselves

The press releases on the results showed how these TMS providers are positioning their products/solutions:

  • Kyriba: global leader in cloud-based treasury, cash and risk management solutions
  • City Financials: an easy-to-use solution, providing straight-through processing for cash management, deal administration, risk management, and treasury accounting.

CTMfile take: TMS’s move to the cloud is becomg normal. The new feature in TMS solution development is the growing number of partnerships with other suppliers to provide the integrated solution that corporate treasury departments need.


This item appears in the following sections:
Treasury Management Systems
Dedicated Treasury Systems
General Treasury Systems

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