Kyriba, a global provider of cloud treasury and financial management solutions, said that Kuwait Food Company (Americana) has signed a joint venture with Kyriba Middle East to modernize its treasury management operations.

 “The market is changing more rapidly today than ever, and we can no longer rely on spreadsheets to manage our treasury,” said Ashish Krishna, manager of corporate treasury at the 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.”

Kyriba announced its rapid growth in the Middle East at the ongoing ACT Middle East Annual Summit in Dubai, UAE.

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, a statement said.

“Now in its eighth year, the Summit offers treasurers an unrivalled opportunity to come together to debate the key issues facing treasury and business,” said Peter Matza, Speakers’ Chair at Association of Corporate Treasurers.

“Kyriba, a key player in unlocking value for treasury and finance professionals in the Middle East, will be supporting our exciting panel discussion on how corporates can adapt, innovate and excel as the exclusive technology sponsor for the event.”

Kyriba will also be demonstrating its cloud platform and meeting with senior financial leaders at the 2017 ACT Middle East Annual Summit. Attendees can register for a product demonstration to learn how Kyriba can add cash visibility and forecasting to their operation, according to the statement.

“The ACT conference also offers scope to find the best solution with discussions on payments, trade finance, treasury systems and dynamic FX management all delivered by experienced treasurers and market experts,” said Matza.

“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 FZ-LLC and executive managing director of Kyriba’s joint venture partner, Surety Computer Systems LLC.

“Kyriba provides critical cash management solutions and supply chain finance that directly impacts working capital targets,” he added. – TradeArabia News Service