Category Archives: risk management

Kyriba Establishes Japanese Joint Venture

Kyriba, a provider of cloud-based treasury management solutions today announced the establishment of a new joint venture in Japan called Kyriba Japan. The joint venture will enable Kyriba to meet the demands of the increasing number of corporations in Japan and throughout Asia that are turning to cloud computing and mobile solutions to help them manage their global treasury operations.

Kyriba’s Software-as-a-Service (SaaS) solution delivers a fully web-based cash, treasury, and risk management solution to over 25,000 users across 700 leading global organizations.

Key features of Kyriba’s platform include:

  • Global Cash Visibility, including SWIFT integration
  • Cash and Liquidity Forecasting
  • Payment Factories
  • Bank Fee Analysis
  • Accounting Reconciliation
  • Exposure Management
  • Hedge Management
  • Supply Chain Finance

Kyriba Japan is a joint venture between Kyriba, as the majority shareholder, SunBridge Corporation, the firm responsible for the Japan and Concur Japan joint ventures, and Marc Benioff and Steve Singh, acting as minority direct investors. Japan operations will begin in June 2012.

“Kyriba has enjoyed remarkable success over the last few years delivering Internet-based Treasury Management Solutions to the foremost corporations around the world. We are now investing in Japan to support our global clients’ business goals and continue our geographic expansion. This growth further demonstrates Kyriba’s commitment to satisfy our clients’ needs globally,” commented Jean-Luc Robert, CEO of Kyriba. “We are extremely pleased to be partnered with SunBridge Corporation, Marc Benioff and Steve Singh who have demonstrated great success in building the Japanese operations of top tier global companies.”

“The Kyriba solution’s ability to combine global cash visibility, treasury productivity, and risk management on a single web platform is a critical requirement for Japanese enterprises doing business internationally as well as for multi-national corporations doing business in Japan,” said Allen Miner, the Founder and CEO of SunBridge. “Feedback from potential Japanese customers gives us confidence that Kyriba will enjoy great success in Japan.”

Avoid the Security Umpire Problem

Have you ever been part of a team or committee working on an initiative and found that the security or compliance person seemed to be holding up your project? They just seemed to find fault with anything and everything and just didn’t add much value to the initiative? If you are stuck with security staff that are like this all the time, that’s a bigger issue that’s not within the scope of this article to solve.  But, most of the time, it’s because this person was brought in very late in the project and a bunch of things have just been thrown at them, forcing them to make quick calls or decisions.

A common scenario is that people feel that there is no need to involve the security folks until after the team has come up with a solution.  Then the team pulls in the security or compliance folks to validate that the solution doesn’t go afoul of the organization’s security or compliance standards. Instead of a team member who can help with the security and compliance aspects of your project, you have ended up with an umpire.

Now think back to when you were a kid picking teams to play baseball.  If you had an odd number of kids then more than likely there would be one person left who would end up being the umpire. When you bring in the security or compliance team member late in the game, you may end up with someone that takes on the role of calling balls and strikes instead of being a contributing member of the team.

Avoid this situation by involving your Security and Compliance staff early on, when the team is being assembled.  Your security SMEs should be part of these conversations.  They should know the business and what the business requirements are.  They should be involved in the development of solutions.  They should know how to work within a team through the whole project lifecycle. Working this way ensures that the security SME has full context and is a respected member of the team, not a security umpire.

This is even more important when the initiative is related to virtualization or cloud. There are so many new things happening in this specific area that everyone on the team needs as much context, background, and lead time as possible so that they can work as a team to come up with solutions that make sense for the business.