Kyriba: Improving services for a top financial company through outstaffing

Improving services
for a top financial
company through
outstaffing

Kyriba

Client

Kyriba

Industries

Financial services and banking

Services

Dedicated team, staff augmentation

Technologies

Custom software development

Introduction

Kyriba is an industry leader in cloud treasury and finance. Since its founding in 2000, the company has delivered mission-critical capabilities for risk management, payments, and working capital solutions. Kyriba has offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai, and Warsaw. Operating in many niches, which include SaaS, Risk Management, and Supply Chain Finance, Kyriba brings top-notch B2B solutions to more than 2,000 clients worldwide.

The company focuses on getting 100% cash visibility, and achieving better FX (foreign exchange) loss management and fraud reduction. This enables its clients to make faster decisions through improved insight and intelligence. To keep driving sustainable growth and to extend their in-house engineering capabilities, Kyriba decided to opt for outstaffing, which turned the client toward Avenga.

Avenga can ramp up their team quickly and manages team turnover very well. They invest in their team to ensure they deliver for their client — they relocated teammates to Poland during the Russian invasion of Ukraine. They work in agile methodologies and the partners communicate daily.

Hussein Jibaoui
VP Quality Engineering & Release Management, Kyriba

Challenge

Kyriba’s pioneering business feature, Active Liquidity Network (ALN), allows end-users to translate liquidity into a dynamic real-time vehicle for growth and value creation. ALN connects internal applications for treasury, risk, payments, and working capital with vital external sources like banks, ERPs (Enterprise Resource Planning), trading platforms, and market data providers. This distinct business feature enables end-users to maximize growth opportunities, manage losses more effectively, and protect themselves from fraud.

The company was looking to expand ALN and the overall volume of services Kyriba offers. In particular, they wanted to add:

  • A new microservice to allow its clients to plan liquidity and calculate different financial scenarios.
  • New integrations to manage all the upcoming user requests for transactions.
  • Better communication features between their KApp and the personalized iterations offered to Kyriba’s users.
  • A new UI/UX design.
  • Real-time checking and automating of its transaction processing, with relevant documentation emerging when an update is introduced.
  • A new system logic that would allow the company to sell services in a different way, without selling tokens.

Kyriba chose Avenga, a seasoned software development vendor, to assist in making its underlying framework more effective, efficient, and seamless.

Solution

LIQPLAN FSI

Avenga assisted Kyriba in building a sophisticated new tool and integrating it into Kyriba’s primary framework. This new model enables Kyriba’s clients to plan their liquidity and calculate different financial scenarios with ease. The service shows whether a user needs additional resources in order to cover other financial needs.

BankAPI

Avenga is helping to expand Kyriba's BankAPI capabilities. This includes establishing a connection with different banks and integrating their services into Kyriba's platform. Currently, there are 18 different banks combined into Kyriba BankAPI, with each having different capabilities for processing several payment types and providing various reporting options.

ERP API

Avenga’s team also aided Kyriba in automating the link between various ERPs; for instance, Oracle, SAP, and Dynamics365, along with Kyriba’s KApp. In delivering the project, we helped build REST API, a service that makes ERP integrations much more effortless. At the moment, 15 microservices are included in the ERP API.

API gateway

We worked with Kyriba to establish communication between KApp and personalized systems, and to turn API Gateway into the access point. In short, it means our team monitored all the user requests and authorizations so that they would be secure. As an outcome, an API Gateway guideline was created in order to make all the framework's operations understandable for Kyriba’s team, who will further manage the system.

UI/UX

To improve the UI/UX design of the product, we also helped conduct a general product heuristic evaluation, created new design concepts, and developed new UX strategies along with roadmaps. As a result, Kyriba received a more unified design system that makes product development much easier.

Performance testing

Kyriba works with multiple transactions and financial processes. For the system to be effective, everything must be processed fast. To ensure this, Avenga engaged in real-time checking of the system’s performance evaluation. We automated performance testing to determine how fast Kyriba’s main framework processes transactions and data. If any bugs or inconsistencies are revealed, the system notifies Avenga’s testing team.

Portal documentation

Along with the KApp, Kyriba has a product for developers. The product's key aspect is teaching new clients and their development teams how to build an app with Kyriba’s functionality from scratch. Avenga was tasked with updating the product. This entailed designing a new product documentation package each time Kyriba presented new features. We are responsible for creating, updating, and maintaining API guides, sample tutorials, step-by-step user instructions, use cases, authentication, and reference materials, as well as support documents, a technical glossary, and user-friendly FAQs. All of the aforementioned tasks contribute to reducing support hours and enhancing users' understanding of how the functionality works.

New sales model

To aid the client with embracing a new sales model, Avenga was tasked with modernizing the entire backend. As a result, a new model of services was introduced, with up-to-date logic and an easier purchase of services.

Results

  • Avenga delivered eight different teams, primarily working with Java, UI, and QA.
  • Successful delivery of the following services: API integration, backend software development, microservices building, consultation, UI/UX design, graphic design, team management, performance testing optimization, and automated testing.
  • Developed a new Liquidity Planning Tool and a new version of its BankAPI. Avenga integrated 15 new banks into Kyriba’s platform, thus sustaining the platform’s growth.
  • In the context of the Portal Documentation project, Avenga delivered a highly optimized version of Kyriba’s website for developers. It entailed real-time updating of documentation with tutorials and guides as soon as Kyriba updated its features package.
  • A new, improved sales model was created, which we helped embrace by modernizing the backend for Kyriba. We managed to simplify the framework while introducing a new model of subscriptions.

Technologies

Java17, React, Spring Boot, RabbitMQ, PostgreSQL, Oracle, Splunk, and Wavefront

Frequently Asked Questions

Kyriba is an industry leader in cloud treasury and finance. It delivers mission-critical capabilities for risk management, payments, and working capital solutions. With more than 2,000 clients worldwide, Kyriba empowers CFOs and their teams to activate liquidity and value creation.

The partnership between Avenga and Kyriba was defined by various aspects of the outstaffing cooperation model. In short, it meant that Avenga, a vendor supplementing Kyriba’s existing in-house development team, required each project to have additional remote specialists.

In general, Avenga offered outstaffing services. More specifically, Avenga delivered eight different teams, which primarily worked with Java, UI, and QA. We delivered the following services: API integration, backend software development, microservices building, consultation, UI/UX design, graphic design, team management, performance testing optimization, and automated testing.

In total, Avenga completed eight projects. They are: LIQPLAN FSI (Liquidity Planning Tool), BankAPI, ERP API, API Gateway, UI/UX design, Performance Testing, Portal Documentation, and a New Sales Model. Avenga integrated 15 new banks into Kyriba’s system and created an additional 15 microservices that establish a link between the client’s product and various ERPs.

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