Kyriba Working Capital Network Benefits Fluor and its Suppliers During Pandemic Recovery
London, UK, San Diego, CA - Kyriba, a leading cloud-based finance software network for CFOs and treasury leaders that enables global companies to maximise growth and reduce risk, announced its Working Capital Network offers finance solutions that have helped its clients and Fluor Corporation (NYSE:FLR), a global, publicly-traded engineering, procurement, construction (EPC) and maintenance company, optimise payment terms aiding Fluor and its suppliers during pandemic recovery.
Kyriba’s working capital solutions, such as supply chain finance, have enabled Fluor to optimise payments terms and accelerate free cash flow, while offering early payments to suppliers. Optimizing DPO and early payment options help protect growth objectives from market volatility, in uncertain times such as we are experiencing, being paid early reduces supply chain risk for the suppliers who provide services to Fluor.
“Kyriba has a strong and long-standing relationship with Fluor, who is using our working capital solutions to increase cash flow—a critical driver for growth, especially during uncertain times,” said Jean-Luc Robert, Chairman and CEO of Kyriba. “Market volatility is increasing the cost of financing for suppliers to invest in their operations. With the Kyriba Working Capital Network, buyers like Fluor can optimise their liquidity through simple programs that offset the cost of capital and provide early payments to their suppliers.”
Global organizations use Kyriba to increase their liquidity by optimising DPO or mobilising idle cash to self-fund early payment discount programs, generating high returns of up to 15% APR.
To hear more about the benefits of Kyriba’s Working Capital Network at Fluor, click here.