IPG selects Kyriba Corp's ASP Treasury Workstation For their Global Cash & Liquidity Management Platform

San Diego, June 1, 2005/PR Newswire/ -- Kyriba Corporation, the market leader in web based on-demand cash management and treasury solutions, today announced that Interpublic Group (NYSE: IPG), one of the world's leading advertising conglomerates, is implementing Kyriba’s web-based cash management platform.

Interpublic is currently deploying the Kyriba ASP (Application Service Provider) treasury workstation solution throughout their entity structure which will bring over 250 physical entities and 300 users on to a common global cash & liquidity management platform. The deployment is currently focused on North America but will soon integrate entities in the Americas, Europe and Asia. Kyriba is replacing several decentralized applications and processes at Interpublic with seamless access to a single application backed by a unified database.

Interpublic is also implementing the Kyriba Communication Hub which manages bank transaction and balance consolidation globally, automating the collection of bank data from over 100 banks internationally. In addition to Kyriba’s management of inbound transactions, Interpublic will utilize Kyriba’s robust centralized payment functionality and outbound transaction management.

Users at Interpublic access all of the Kyriba’s features via an Internet browser and because Kyriba is a multi-lingual solution, users can work in their local language. Core features used by Interpublic include global consolidated cash positions, distributed cash reporting, bank fee management and centralized cash accounting. Other areas of the Kyriba system that will be used by Interpublic include global forecasting, automated cash reconcilement, bank resolution / signatory management and intercompany deposit & loan management.

Robert Williams, Director, Global Treasury Operations of Interpublic said, "The Kyriba solution is well suited to a complex organization like Interpublic. Kyriba's ASP orientation and ownership of bank connectivity management allows our treasury professionals to focus on core treasury activities and on being more strategic. Having visibility into our global operations without a long difficult implementation is of great value to Interpublic."

"While Kyriba can be implemented in organizations of all sizes, the rapid global deployment throughout Interpublic’s large and complex global entity structure demonstrates the flexibility and power of Kyriba’s platform. We are pleased to partner with Interpublic to help achieve greater operational efficiencies, organizational communication, profitability and cost savings," said Jean-Luc Robert, CEO of Kyriba.

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