Early Payment Options Keep Business Moving, Accelerates Free Cash Flow
SAN DIEGO--(BUSINESS WIRE)--Kyriba, a leading cloud-based finance software network for CFOs and treasury leaders that enables global companies to maximize growth and reduce risk, announced its Working Capital Network offers finance solutions that have helped its clients and Fluor Corporation (NYSE:FLR), a global, publicly-traded engineering, procurement, construction (EPC) and maintenance company, optimize payment terms aiding Fluor and its suppliers during pandemic recovery.
Kyriba’s working capital solutions, such as supply chain finance, have enabled Fluor to optimize payments terms and accelerate free cash flow, while offering early payments to suppliers. Optimizing DPO and early payment options help protect growth objectives from market volatility, in uncertain times such as we are experiencing, being paid early reduces supply chain risk for the suppliers who provide services to Fluor.
“Kyriba has a strong and long-standing relationship with Fluor, who is using our working capital solutions to increase cash flow—a critical driver for growth, especially during uncertain times,” said Jean-Luc Robert, Chairman and CEO of Kyriba. “Market volatility is increasing the cost of financing for suppliers to invest in their operations. With the Kyriba Working Capital Network, buyers like Fluor can optimize their liquidity through simple programs that offset the cost of capital and provide early payments to their suppliers.”
Global organizations use Kyriba to increase their liquidity by optimizing DPO or mobilizing idle cash to self-fund early payment discount programs, generating high returns of up to 15% APR.
To hear more about the benefits of Kyriba’s Working Capital Network at Fluor, click here.
About Kyriba Corp.:
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. With 2,500 clients worldwide, including 20 percent of Fortune 500 companies and 25M payments processed on a daily basis, Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.