Kuwait Food Company signs with Kyriba to modernise treasury management
Kyriba, a global provider of cloud treasury and financial management solutions, announced that Kuwait Food Company has joined a growing number of clients in the Middle East that have signed with Kyriba Middle East, a joint venture with US based Kyriba Corp, to modernise their treasury management operations.
“The market is changing more rapidly than ever, and we can no longer rely on spreadsheets to manage our treasury,” said Ashish Krishna, Manager of Corporate Treasury at Kuwait Food Company. “Implementing a modern treasury solution will give us more accurate and real-time visibility into our cash resources so we can better provide strategic guidance to fund new growth.”
Oil price volatility is driving senior financial leaders to adopt new technology solutions and gain enhanced decision support solutions. Also, the Saudi Vision 2030 initiative, aiming to propel diversification in the regional economy, has inspired executives to think differently about leveraging innovation in finance technology to drive new growth.
In addition to Kuwait Food Company, more than 20 leading corporates in the region are currently using Kyriba to enhance cash visibility and provide decision support to reduce borrowing costs, increase investment returns, and unlock working capital.
“The rate and scale of business growth now demands technology solutions to enable faster, more secure decision support,” said Roger Baroutjian, Managing Director of Kyriba Middle East and Executive Managing Director of Kyriba’s joint venture partner, Surety Computer Systems. “Kyriba provides critical cash management solutions and supply chain finance that directly impacts working capital targets.”