Treasury management service provider Kyriba has chosen a new leader for its supply chain finance (SCF) operations. An announcement late last week revealed that Eric Riddle will join Kyriba as executive vice president of supply chain finance solutions, spearheading the company’s SCF services throughout the globe.
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Riddle will join Kyriba after working at both IQNavigator and Prime Revenue. Reports said he has more than 25 years of experience in the SCF and procure-to-pay software services industry.
“Kyriba has developed the leading treasury management solution and has an innovative executive team and a first-class suite of investors,” the new executive said in a statement. “The free cash flow enhancement opportunities through Kyriba’s full suite of SCF solutions — dynamic discounting, reverse factoring and receivables finance — represent a dramatic step forward in ‘Proactive Treasury Management’ for our clients and their supplier partners, as well as providing alternative revenue streams for lenders. Supply chain finance offers a huge growth opportunity for Kyriba, and I look forward to propelling it to the forefront of the industry.”
In his own statement, Kyriba Chairman and CEO Jean-Luc Robert pointed to Riddle’s experience in both the U.S. and EMEA regions, allowing him to grasp the supply chain financing needs of corporations in these areas.
This global view of Kyriba’s services emerged earlier this year when the company launched its cloud-based treasury management services in the Middle East by opening a new office in Dubai last June. Robert said at the time that the decision was a reflection of rising demand for supply chain finance and treasury management tools in the region.