Openpay Group Ltd (ASX: OPY) has signed a referral agreement to expand its OpyPro business to business (B2B) platform to Kyriba’s US client base through an initial pilot programme.
Kyriba is the global leader in cloud treasury and finance solutions, delivering mission-critical capabilities for cash and risk management, as well as payments and working capital solutions to over 2,000 clients worldwide.
Openpay’s US CEO, Brian Shniderman, said Kyriba has extensive and deep customer relationships, including key enterprise clients in the United States.
“The relationship is highly attractive to Openpay as we continue to expand the reach of our OpyPro B2B solutions.”
OpyPro will enable an enhanced trading experience for Kyriba’s customers which typically are large corporates with a minimum annual turnover of $500 million across various industries. The system manages trade accounts end-to-end – including account application processing, seamless business customer onboarding, credit checks and terms, approvals and account management.
The OpyPro solution enables corporate clients to digitise and automate their onboarding allowing acquisition at scale, improves days sales outstanding (DSO) and reduces fraudulent transactions, reconciliation time and costs.
The self-service buyer and supplier portals reduce manual tasks and administration providing 24/7 access to critical transaction, invoice and statement data.
Openpay is a payment innovator, offering critical buy now pay later solutions to CFOs and treasury teams to improve their cash conversion cycle and increase revenue growth,” said Jean-Luc Robert, chairman and CEO of Kyriba.
“Kyriba customers have been searching for new payment solutions like OpyPro that support their digital transformation and eCommerce evolution.”
Openpay has been working to find the most efficient way to engage with enterprise clients as it launches into the US. This aggregator referral model with Kyriba opens up immediate access to hundreds of target business clients in the US.
There is opportunity to take this referral partnership to other geographies as it evolves. The agreement is for an initial term of one year, with an option to extend for a further one year based on the success of the programme.