TTE Europe SAS finalizes implementation of Kyriba ASP Platform

September 9, 2005 -- Kyriba, the market leader in Internet application services for cash management on demand, has announced that the TTE Europe SAS group, a European joint venture between Thomson SA and TCL Multimedia International Holdings Ltd (the world’s largest television manufacturer – annual turnover in Europe of approximately one billion euros), has finalized the implementation of the Kyriba cash management solution.

In order to optimize its cash situation, the TTE Group wished to set up value date cash management covering all its units located in various European countries.
The Kyriba bank connectivity Hub allows the TTE group to retrieve its account statements every day from its partner banks in France, Germany, Belgium, Austria, Great Britain, Italy, Poland, Denmark, Holland, Finland, Norway, Sweden, the Czech Republic, Hungary, Slovakia and Spain, through various protocols (ETEBAC, FTAM, FTP, for example).

Frédérique Dupas-Hureau, cash manager for the TTE Europe group, says, “We needed to quickly implement a solution that would enable us to manage our bank and forecast positions efficiently in a particularly complex environment. The reactivity of the Kyriba teams and the simple implementation of the solution prevailed over all the other solutions on the market.

The Kyriba cash management application provides great flexibility of implementation with very short lead times. The Kyriba ASP Platform enables us to make savings on the costs of investing in hardware, software licenses and maintenance, and on the technical software installation and updating costs. Above all, it gives us a real-time view of our bank positions at several French and European banks (France, Germany, Belgium, Austria, Great Britain, Italy, Poland, Denmark, Holland, Finland, Norway, Sweden, Hungary, Slovakia, the Czech Republic and Spain) from a simple Internet browser.

Its native multilingualism (English, French, Spanish, Italian, German and Russian) will initially enable our Chinese shareholders, even those in Hong Kong and Chenzen, to monitor our positions using a simple Internet browser, and at a later date, will allow our subsidiaries to enter their forecasts and manage their cash positions.”

“Our solution can be implemented in companies with different structures and of varying sizes. Its implementation within an organization like TTE demonstrates how flexible and robust our ASP platform is. We are delighted that this partnership with TTE is helping our client to improve its view of cash positions on a European scale and is simplifying its relationships with its Chinese shareholders,” says Jean-Luc Robert, CEO of Kyriba.

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