Eurostar International, the international train operating company that runs services between London and Paris via the Channel tunnel link, has chosen Kyriba, to deliver an integrated suite of treasury, risk management and SEPA-compliant payments solutions. The cloud-based treasury management system (TMS) will replace Eurostar’s outbound treasury module in its enterprise resource planning (ERP) system.
Eurostar will use the Kyriba Enterprise Software-as-a-Service (SaaS) platform across its European operations, enabling the company to centralise, automate and increase control over its treasury processes, as well as to improve connectivity with its banking partners.
Additionally, Eurostar will use Kyriba’s Payments module, with its single euro payments area (SEPA) compliant formats and mandates, to streamline its third-party payments processes and to achieve compliance ahead of the 1 February 2014 migration end date.
“As an international company, Eurostar needs a solution which works seamlessly across multiple borders and currencies,” said Chris Egan, head of treasury at Eurostar International. “Kyriba enables our treasury team to increase its productivity and maintain a much stronger control over our cash holdings and foreign exchange (FX) exposure. By automating a number of tasks that we previously had to complete manually, as well as integrating into the corporate ERP solution, the team is able to work more efficiently. In addition, by using Kyriba’s Payments module, we can ensure that our payments are all made using SEPA-compliant formats.”
By Neil Ainger