The treasury management Software as a Service (SaaS) provider Kyriba now has more than 850 clients worldwide and has announced growth of 33% already this year.
During the quarter, the company signed 45 new treasury, risk and supply chain finance clients, including Cablevision, the eighth-largest cable TV provider in the United States, as well as one of the world’s largest banks. It now has the highest client acquisition rate of any vendor in the TMS industry – an industry which is expected to grow from $2.2 billion in 2013 to $3.5 billion in 2018, according to analyst Apps Run The World.
“I am delighted with our momentum over the first half of this year. We have signed a record number of clients throughout the regions where we operate,” said Jean-Luc Robert, chairman and CEO of Kyriba. “Our newest markets have shown phenomenal growth, and in our established markets such as North America and Southern Europe, we continue grow both with clients who are implementing their first TMS, as well replacing incumbent treasury systems vendors at major Global 2000 brands.”
He added: “Kyriba continues to be the innovation leader in the TMS industry, which is forecast to reach $3.5 billion by 2018. Our SaaS model is validated by analysts, who forecast subscription revenues growing at 23 percent CAGR over the next five years, compared to just 4.1 percent for license revenues. In addition, our focus on R&D means that our clients can be assured that they use the most advanced TMS solution in the industry, and will always have access to the latest features without the need for costly and time-consuming upgrades.”
