Kyriba unveils GenAI-powered platform for CFOs' agility

Kyriba has introduced a GenAI-driven platform aimed at enhancing financial connectivity and operational agility for CFOs and finance teams.

The new platform, known as Kyriba App Studio, is described as a low-code solution designed to eliminate liquidity gridlock, simplify API adoption, and streamline integrations with any software that supports APIs, including Enterprise Resource Planning (ERP) systems. By empowering finance teams to automate and control connectivity workflows without needing technical expertise, app studio seeks to improve operational agility, productivity, and efficiency.

Boris Lipiainen, Chief Technology and Product Officer at Kyriba, stated: "Finance leaders often struggle to gain insights into cash positions, especially during acquisitions or economic downturns. Fragmented data and disconnected systems, what we call liquidity gridlock, worsen this. We're helping lower the barriers to API adoption for our customers and solve these issues with GenAI and a low-code platform, enabling finance teams to create system integrations quickly, without coding expertise, in a secure environment."

A survey conducted by Gartner indicates that 63% of CFOs are prioritising improvement in their forecast capabilities, highlighting the importance of real-time financial information for those handling complex financial situations. API solutions have been recognised as effective, but they often require development work. Kyriba App Studio is positioned to fill this requirement, enabling financial teams to maintain control over operations without depending on technically skilled resources, unlocking productivity gains and agility.

Felix Grevy, VP of Product, Open API and Connectivity at Kyriba, commented: "CFOs and Treasurers rely on SaaS solutions for daily tasks and smooth data integration between apps. Before Kyriba App Studio, customers had to manually create data mapping programs, set up their own monitoring tools, and handle API calls. Kyriba App Studio's innovative AI features automate these tasks, remove the need to own and operate transformation and execution, while simplifying and streamlining mundane processes for customers."

Kyriba App Studio augments the company's Connectivity-as-a-Service (CaaS) offering by offering a more flexible user experience that allows CFOs and finance teams to enhance their financial connectivity and operations. The platform is said to provide the following benefits:

Seamless financial connectivity: Kyriba App Studio creates a real-time, data-driven financial ecosystem enabling ERPs and other software with API support to generate and transmit transactions, such as payment requests and cash forecasts, according to Kyriba's specifications. It also retrieves financial data, transforming it to meet customer-specific requirements.

Simplified API adoption: Kyriba App Studio simplifies API integration with effortless data requests and transformations from ERPs and business systems, reducing complexity and resource demands, thus aiding in better forecasting and liquidity visibility.

Increased flexibility and control: The platform allows users to initiate workflows on a set schedule within Kyriba or trigger them through external processes using APIs, offering customisation to suit specific business needs. This ability is seen as crucial, ensuring streamlined, efficient financial processes aligned with strategic objectives.

Robust security and compliance: With strong authentication and encryption protocols, Kyriba App Studio is designed to maintain data integrity and security across all transactions, aligning with necessary system integration compliance requirements.