[February 21, 2018] |
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Kyriba Launches Unprecedented Partner Opportunity for 2018 Following Record Growth Year
Kyriba,
the #1 global provider of cloud financial management solutions, today
announced major new partner incentives designed to help global partners
achieve first-year profitability, while driving strong recurring revenue
growth for their organizations. The upgrades include a generous revenue
sharing model; expansion of the partner-exclusive 'hard deck' to
companies with revenue under 1 billion (local currency equivalent); and
an enhanced monetization strategy to allow partner involvement in 100
percent of deals. The announcement comes on the heels of a record
growth year for Kyriba, including gaining 230+ new enterprise
clients and being recognized
by IDC as the category leader for cloud treasury and risk management
applications.
"Kyriba is delivering a game-changing cloud opportunity this year for
global partners who want to gain early access to a fast-growing market,"
said Karthik Manimozhi, EVP Worldwide Alliances and Channels Sales, who
oversees the company's PartnerSURGE program. "By the end of 2018, Kyriba
projects its partner business will have achieved a 188 percent
three-year annual growth rate (CAGR), which far outpaces the high-growth
SaaS (News - Alert) categoy."
Kyriba's Partner Opportunity
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Unparalleled revenue sharing. Qualified partners in the highest
tier can earn up to 40 percent of bookings in the first year, and 20
percent of recurring revenue for the life of the contract. Qualified
partners will also get first right of refusal for 100 percent of
revenue streams covering professional services and value-added
services.
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An expanded 1 billion customer hard deck. In North America,
United Kingdom, France and Japan, the hard deck - the amount set aside
exclusively for partners to handle - has been expanded to companies
below 1 billion (local currency equivalent) in revenue, while every
other region will be sold exclusively through partners.
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Strong investment in partner protection. Kyriba has established
very clear rules of engagement with its own direct sales team to avoid
potential conflict. In addition, Kyriba continues to make strong,
double-digit investment in research and development to expand its
global market leadership and fuel innovation.
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Comprehensive partner training and onboarding. Kyriba is
delivering world-class product training and onboarding, as well as
ongoing shadowing in the field, to ensure that partners are able to
provide the highest levels of service to joint customers.
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Additional revenue opportunities. Kyriba will make all global
direct deals available for partner implementation, thereby creating an
opportunity for partners to participate in 100 percent of Kyriba's
continued rapid growth.
Kyriba now has more than 1,800 clients globally, including 65,000 active
users in 100 countries. The company achieved a 32 percent year-over-year
increase in global subscription fees last year, including 43 percent
growth in North America. In September, 2017, Kyriba announced a $45
million strategic investment led by Sumeru Equity Partners, a leading
financial technology venture capital firm.
To learn more about Kyriba's partner program, visit www.kyriba.com
or http://www.kyriba.com/kyriba-partnersurge
About Kyriba Corp. Kyriba is the #1 provider of cloud
treasury and financial management solutions. Kyriba empowers financial
leaders and their teams with award-winning solutions for cash and risk
management, payments and supply chain finance. Kyriba delivers a highly
secure, 100% SaaS enterprise platform, superior bank connectivity and a
seamlessly integrated solution set for tackling today's most complex
financial challenges. More than 1,800 companies, including many of the
world's largest organizations, rely on Kyriba to streamline key
processes, protect against loss from fraud and cybercrime, and
accelerate growth opportunities through improved decision
support. Kyriba is headquartered in New York, with offices in San Diego,
Paris, London, Tokyo, Dubai and other major locations. For more
information, visit www.kyriba.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180221005543/en/
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