In a business world where digital transformation increases day by day, effective management of financial operations of institutions is the most important element that enables them to gain competitive advantage. That’s why businesses widely use SAP and Kyriba systems to optimize their financial processes. SAP is a powerful ERP system while Kyriba is a leading treasury management platform. However, in order to manage financial management most efficiently, integration between these two systems is required. In this article, we will examine the SAP and Kyriba integration. We will discuss which methods companies can follow for financial efficiency and the benefits of integration.
What is SAP?
SAP is the abbreviation of the concept “Systems, Applications, Products”. Developed by a Germany-based software company, SAP is an enterprise resource planning (ERP) software that helps businesses manage their business processes. It has a modular structure that enables integrated management of various business processes such as finance, human resources, supply chain, production and sales.
What is Kyriba?
Kyriba is a platform that helps businesses effectively and securely manage important financial processes such as treasury management, cash management and risk management.
The features of the platform are as follows:
- Automates payment workflows.
- Uses artificial intelligence to protect against losses due to fraud and financial risk.
- It offers a secure and scalable structure that reduces operational costs.
Thanks to the financial tools Kyriba offers to its customers, businesses greatly increase the efficiency of their financial operations and manage their financial processes securely.
What is SAP and Kyriba Integration?
SAP – Kyriba integration integrates SAP and Kyriba to flow data between the two systems and automate the workflow. Kyriba has SAP ECC and SAP HANA certifications. That’s why it is also called certified SAP – Kyriba integration.
SAP & Kyriba integration offers a secure integration solution for multi-bank connectivity, financial risk analysis and monitoring, trading and investment platforms, and financial applications.
Businesses using SAP and Kyriba integration;
- Accelerates payment and bank integration projects through SAP technologies.
- Provides quick access to different payment standards.
- Reduces fraud risks thanks to artificial intelligence-based payment fraud solutions.
- Optimizes ERP implementation time and integration costs.
Thus, with SAP and Kyriba integration, businesses have the opportunity to facilitate the management of financial data and run their financial processes more efficiently.
Benefits of SAP & Kyriba Integration
SAP and Kyriba integration enables you to leverage the full potential of the two systems’ features by integrating Kyriba’s advanced financial services into the SAP system.
Improved Cash Forecast
SAP and Kyriba integration enables automated workflows, reducing costs and eliminating manual data entry. The integration automatically imports cash forecasts into Kyriba for liquidity planning and advanced cash forecasting. In this way, businesses gain real-time visibility into their cash positions and more accurately predict future cash flows and liquidity needs.
Optimized Foreign Exchange Balance Sheet Workflow
Kyriba has tools to capture asset and account configuration information from native SAP utilities and custom financial asset/liability or income-expense balance data. Thanks to these tools, it uses only the general ledger report to pull balance data regularly.
Improved Working Capital Management
SAP – Kyriba Integration simplifies working capital management by automating processes such as cash pooling, cash concentration and liquidity optimization. This helps organizations optimize working capital levels, reduce borrowing costs and improve overall financial performance.
Changing Bank Protocols and Formats
SAP and Kyriba integration provides access to many banks over various protocols and data formats and protects their customers against constant changes.
Advanced Risk Management
SAP’s integration with Kyriba enhances risk management capabilities by providing comprehensive information about financial risks such as market volatility, credit risk and liquidity risk. This integration protects the organization against potential threats by providing proactive risk identification and mitigation strategies.
Increased Cash Visibility
SAP and Kyriba integration provides real-time visibility into financial data. This comprehensive view of cash positions, transactions and balances helps enable better strategic planning and improve financial performance.
How to Integrate SAP & Kyriba for Maximum Financial Efficiency?
MIP is an iPaaS platform that offers ready-made integration solutions to facilitate complex integration processes of businesses. It includes simplified installation processes and pre-built integrations for SAP and Kyriba integration.
Pre-built SAP and Kyriba integration greatly reduces the time, cost, effort and risk involved in integrating SAP system with Kyriba. Processes such as writing code, testing and distribution to create a custom integration project cause the integration project to be completed in 1-2 months. Pre-built integration packages reduce this time and enable the integration to be created quickly. Thanks to pre-built SAP and Kyriba integrations, businesses can seamlessly initiate data flow between two systems with less effort, cost and effort.
You can contact us to get more information about MIP’s pre-built integrations.
