Kyriba vs. TIS (Treasury Intelligence Solutions)

This tool is a great solution and in spite of all the flaws, it has been rendering its services for the longest time. The platform is user-friendly and it just completely empowers your organization with a whole view over all types of cash positions that automatically provides an organization with the liberty to make a correct decision at any point in time. From my experience, I must say that this product has been delivering a highly secure enterprise platform.

Incentivized

With this robust treasury tool it is very easy to increase the speed of financial operations with, for example, outgoing payments and cash flow analysis management. Liquidity is not a problem thanks to Treasury Intelligence Solutions, we are confident in this tool to fulfill the most important operations of outgoing payments. I can also recommend it because it is very simple to use and it also has a very simple application.

Incentivized

• Keeps our very large multi-bank account structure in balance daily, and gives daily visibility to all bank account balances for Treasury and the rest of Mercy
• GL Mapping, creation and export of GL entries, and reconciliation of ALL GL entries back to the bank accounts.
• Listens to client's suggestions and ideas, responds quickly with answers, regularly updates software based on our input. Also, they have a great Kyriba Social website where we can put in tickets for help and send in our ideas, but more importantly, share questions and ideas with the whole Kyriba client community, and provides FAQ from that dialogue for just about any question that we can think of. Great customer support and communication works well both directions.
• Implementation process is well mapped out, but flexible to the client's needs. If I'm experienced and comfortable with TMS systems, I can do a lot more of the setup work instead of paying Kyriba to do it all, but if I need Kyriba to do it all, they will. Love the training process, which works a lot like college, where they teach you a section, give you homework to do before the next training session, check your accuracy and understanding, and move on to the next section. Almost all the Kyriba implementation folks I've worked with and met with were former Treasury practitioners, so they know what we know and they how to talk to us and with their developers to give us what we need.
• Very high value for the low cost and scale-able depending on how many modules you need. Monthly fees are very reasonable, implementation fees are known up front, and you only pay for what you use, and annual volume based fees are reasonable as well. Much, much cheaper than bank fees for Information reporting, didn't require any MIS approval or assistance, and very easy to justify to upper management based on the massive labor savings.
• One of the big reasons I love Kyriba so much is TMS is all they do and they have grown consistently in the 4 years we've been with them, and are very stable. I like that their whole focus is on providing the best TMS platform on the market, and not getting off track working on other non-TMS priorities and products. In the past, many TMS systems were owned by larger conglomerates, were bought and sold multiple times, and often times support and customer service was non-existent, and coworkers were leaving the firm left and right. Many went to Kyriba. That's the main reason I started looking and found Kyriba in the first place.

Incentivized

• Bank connectivity is as simple as it can be. Well designed making a complex process a little less complex than other providers.
• Transaction support across 15 countries has been Steller. Broad support for methods and formats and issues were resolved quickly.
• Solid systems interface make connecting with ERP and other systems relatively painless.
• As noted earlier, quite flexible for a hosted service.

• Some of the financial transaction cash flows do not integrate well with cash management and forecasting
• Dashboards and Power BI are not readily available out of the box in the baseline product
• Tracking of interest on bank accounts is not available in an automated fashion

• User-friendliness in some areas could be improved. A function that explains buttons would be nice, similar to how it is in SAP with F1. But indeed you can find this on the support portal.
• It is missing the Business Discovery Manager. This will solve many questions, so I cannot complain if we are missing a critical dashboard part of TIS. The logic of Master data and download of the same is done nicely. I would like to build my own report with this, but we would be back to BDM functions.
• The BTM transaction monitor is its greatest strength, but also is a large jungle of entries. You can get lost in there. The deletion function should be upgraded if possible, [because] it's not the easiest to do a mass deletion.
• Filtering of accounts that need to be assigned to the BANK link. It's only a small thing but can be super annoying every time it selects the first bank entry by default.

Incentivized

Very powerful treasury management tool, the reason it's not a 10 is implementation and support lags behind competitors. It can take a long time for issues to get resolved. But once it's set up properly, everything works well most of the time. Few if any other providers will have the same range of features.

Incentivized

Depends on stage of the project if it will be postponed in 2023. Se la vie. Will be happy to go on.

It can always be better. There needs to be more instances wherein the user can make changes that work for them and those changes would be saved for future use, not having to make the same changes over and over again.

Incentivized

The main feature of usability is the outcome you get upon actions done. TIS is not complecated solution - it is rational and has most needed capabilites for cash management via multiple accounts in different jurisdictions. It works well for this task and evolutioning to the field of risk management to get all treasury job done well.

We have weekly calls with our support team to discuss ongoing implementation projects and other issues we find from time to time. They are very responsive to any questions we have and can escalate issues to a higher level of support if they do not have the expertise necessary to fix the problem. They are helpful in coordinating testing with banks if necessary, and provide regular statistics regarding support calls, causes of problems, and resolution.

Incentivized

Offered support information in the portal (knowledge base articles) as well members of the support provides a very good service level.

Incentivized

The training addressed our needs.

Incentivized

We had some issues with one of the implementation people provided by Kyriba. The communication skills were lacking, with assumptions being made as to what we knew already. It was very frustrating. Once that was resolved, further module implementations have been smoother.

Incentivized

The cloud connection meant less work for IT. The setup of the first 1000 accounts was very quick, so we went live after only 4 months.

The above are all examples of bank rec software, Kyriba was selected over its competitors after a comprehensive vetting process. Kyriba has served us well, covering the bank rec process efficiently as well as being a one-stop-shop for treasury and banking-related functions for our group of companies.

Incentivized

The implementation team is strong and supportive of your needs which was important. The solution fit the needs of company very well with many ERP systems and bank accounts. The company was continuing to improve its product based on customer feedback. Strong IT background at the top

Incentivized

• Kyriba saves our department time, which is the most valuable thing we have. Before Kyriba we had to log into each bank to pull data for the prior day before we could enter our current day activity. Now the banks send the data right to Kyriba! It saves us about 3 hours of work each day from our old process.
• Kyriba has given us visibility into all of our bank accounts in a centralized platform. We can better monitor activity and use that information to make better business decisions.
• Kyriba has given us better transparency because of dual approval. One person has to enter information and another person has to approve information, so we have tighter controls.

In terms of risk mitigation of course we can reduce the number of people having access to banking if not needed. With dedicated teams and less people with access to individual Bank portals. Before access to bank portals were necessary for all sorts of manual payments and exceptions if we really implement the 100% of functions and dont leave exceptions that risk mitigation can be achieved and efficiency at automated payment runs.

• At a large corporation with more than 60 entities and 400+ bank accounts, the savings and improvements are massive considering how time-consuming the manual work would be. I don't have any numbers to quote, unfortunately.
• We are now massively expanding our TIS with the full integration of automated payment runs. This has larger operational impacts, like the possible consolidation of banking and dedicated payment teams.

Incentivized