Kyriba Announces European Union Deployment of its Cash and Treasury Management Solution for Tokheim Group

Paris and Boston, November 4, 2004 Kyriba Corporation , the market leader in real time web based on-demand Cash Management, announces that the Tokheim Group, a leading world manufacturer of fuel dispensing systems, retail automation systems, and "pay-at-the-pump" terminals has implemented Kyriba’s ASP treasury and cash management solution.

After the deployment of Kyriba’s ASP treasury and cash solution at Tokheim’s French subsidiary, the Tokheim Group decided to extend the scope of Kyriba’s contract to include cash management operations for all of its European subsidiaries. The deployment also included an implementation of international cash pooling with two of Tokheim’s European banks. Following this, Tokheim expanded the initial deployment to include the use of Kyriba’s centralized liquidity management tool for all of its European subsidiaries. Tokheim Group’s objective was the enforcement of common business practices across its organization and real time monitoring of the Group’s current and future cash position.

Enrico Rao, Group Treasurer of Tokheim said, " The Kyriba Treasury Management solution offers benefits of a flexible deployment and a rapid kick off time. Kyriba's ASP solution allows us to save hardware costs and time to implement/to upgrade the software, but most important it provides real time visibility into our multibank and multi subsidiary accounts instantly from a web browser. "

The Tokheim Group uses the Kyriba ASP Liquidity Platform and the Kyriba Bank Communication Hub, which is fully integrated into the Tokheim Group information systems. A focus of the project was the consolidation of group forecasts into a centralized system and the ability to export cash accounting entries to the Tokheim core accounting system. The Kyriba platform is also used to manage the bank positions as well as the inter-company positions, which are calculated automatically and provide for cash pooling ZBA transactions.

"The completion and deployment of Kyriba’s cash and treasury management system for the Tokheim Group European Union business units marks another milestone of our partnership with Tokheim. We are pleased to help Tokheim Group achieve greater operational efficiencies, profitability and cost savings." Said Jean-Luc Robert, CEO of Kyriba.

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