Japan’s Nissin Foods Selects Kyriba for TMS
Nissin Foods Holdings, one of Japan’s largest manufacturers of noodles and instant foods, has chosen Kyriba’s cloud-based treasury management solutions to improve its global cash visibility and support business growth strategies.
Nissin Foods Group will use Kyriba’s Enterprise software-as-a-service (SaaS)-based treasury management system (TMS) to streamline its cash visibility and forecasting processes, as well as automating manual processes and providing more accurate and reliable data. The company will implement Kyriba to offer a single, global view, providing it with vital data to continue its international expansion strategy.
Nissin Foods has operations in 19 countries, with more than 7,500 employees worldwide. The company is best known in the US for its ‘Top Ramen’ brand, and has revenues in excess of 417bn yen (JPY), equivalent to US$3.96bn/£2.43bn.
“Nissin Foods Group is the market leader in Japan, and as we look to further expand our international footprint, the need to have global cash visibility becomes paramount,” said Yukio Yokoyama, chief financial officer (CFO) at Nissin Foods Holdings.
“Kyriba’s holistic solution integrates seamlessly into our existing financial systems, and gives us the insight to make timely, strategic, financial decisions. Being a SaaS-based product also means that we can roll it out across a number of markets without a long and expensive implementation process.”
“As a well-established company that is continuing its expansion across the globe, Nissin Foods Group faces challenges that we see in many companies – the need to use a single, highly scalable system, for cash and treasury management,” said Jun-Ichiro Kuwano, managing director of Kyriba Japan.
“This solution will give the treasury team the insight and analysis to make confident, strategic financial decisions that will help the business grow.”