Averda adopts new treasury management software from Kyriba Corp.

Averda, the Middle East and North Africa (MENA) region’s largest integrated waste and resource management company, recently committed to converting to Kyriba Corp.’s cloud-based treasury management system.

California-based Kyriba Corp. specializes in cloud-based proactive treasury management software, which is designed to optimize an organization’s cash, manage its risk and make the most efficient use of capital.

Averda Group’s treasurer, Maria Bavelaar, said Averda chose Kyriba’s system because it can provide a better overview into the Dubai-based company’s cash flow and liquidity. That could be a valuable tool in shaping Averda’s financial controls and bank account management.

“We brought on Kyriba ... to empower our treasury team with the most advanced tools we could find in the market,” Bavelaar said. “Our company has offices in remote locations, manages diverse currencies; and with our rapid growth into new markets, we need to not only ensure full insight in our global cash but also be more aware of our potential liquidity.”

Aside from obtaining critical financial insights, the Kyriba treasury software has been shown to help organizations minimize fraud and ensure compliance.

Roger Baroutjian, managing director of Kyriba Middle East, said the software company is pleased to be working with an innovative company such as Averda.

“Kyriba’s technology is a great fit for Averda and will provide more strategic insight into company-wide financial decisions,” Baroutjian said.
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