Treasury management is often an afterthought for those in procurement. At best, procurement organizations tend to have regular visibility into accounts payable processes, workflow and activities. Yet treasury impacts procurement and supply chain teams in multiple ways, and procurement and operations have the potential to have a dramatic impact on treasury and cash management in the future as trade financing programs become more intertwined with both the inbound and outbound supply chain.
Within treasury management, Kyriba has proven the ability to build significant customer scale — more than 700 customers — and, at the same time, invest to build a trade financing offering alongside its more traditional treasury management modules — cash management, payments, transactions and accounting/bank administration. While it is early days for Kyriba in trade financing, the potential to bring treasury to the table at the center of programs as a sponsor rather than merely a stakeholder could be a powerful tool to put programs over the tipping point of wide-scale adoption rather than merely accounts payable or procurement sideshows.
We’re excited to have Kryiba on the Spend Matters 50/50 list but even more curious about where it will go from here in the receivables and payables financing arena. Treasury management is another entry point, separate from e-invoicing and P2P, that could play an important role in helping the fintech side of the trade financing market cross the chasm from novelty to necessity while also creating greater linkages with procurement and supply chain overall.