Kyriba has announced the expansion of its AI capabilities to enhance cash forecasting, bank connectivity, and custom reporting for finance teams. This development aims to empower CFOs with greater automation and data-driven decision-making.
Kyriba has introduced new AI-driven features within its platform to improve cash forecasting, bank connectivity-as-a-service, and custom report generation. These enhancements build on Kyriba’s existing AI tools for payment fraud detection and cash management optimization.
“AI is transforming the finance industry, and CFOs expect support for their data and AI strategies,” said Greg Person, Senior Vice President of Sales, Account Management, and Alliances at Kyriba. “Our platform’s ability to leverage large data sets enhances the predictability of cash, risk, and liquidity decisions, driving new levels of performance for our customers.”
With CFOs leading their organizations in AI adoption, the technology is expected to deliver significant results. Gartner predicts that by 2026, 80% of large enterprise finance teams will use Generative AI, significantly impacting trust, risk, and security management.
Kyriba’s new AI features offer advancements in predictive intelligence, AI-driven decision-making, and intelligent automation, including:
- Cash Forecasting: Utilizing historical cash flows, Kyriba’s new Cash Flow AI tool enhances the accuracy of liquidity projections by learning from seasonality and data patterns. This builds on the existing Cash Management AI, providing treasury teams with advanced forecasting capabilities.
- Bank Connectivity: GenAI updates Kyriba payment formats, including XML ISO20022, to meet unique banking partner requirements without customization or third-party implementation. This reduces the time-to-market and total cost of ownership for payment and ERP to bank connectivity projects.
- Custom Reporting: Kyriba’s Open Reports Studio, integrated with Microsoft Office Copilot, uses natural language processing to query data, build charts, and format custom reports automatically. This real-time integration reduces errors and saves time, creating accurate and robust reports effortlessly.
“There is no AI strategy without a data strategy. Through our bank connectivity and OpenAPI platform, Kyriba enables customers to harness their data and integrate AI into treasury, payments, and working capital decisions,” said Bob Stark, Global Head of Market Strategy at Kyriba. “Advancements in ChatGPT and Generative AI have propelled us forward in delivering impactful AI solutions for the CFO’s office.”