Category Archives: Uncategorized

FHL Joins Forces with Kyriba to Deliver Secure Cloud Treasury Solutions

FHL Customers Now Have Access to Kyriba’s World Leading Treasury Management Solution

 

Kyriba Corp., the global leader in cloud-based treasury, cash and risk management solutions, today announced a channel sales partnership with cloud solutions provider, FHL (www.fhl.co.uk), the leading provider of NetSuite products in Europe and NetSuite’s EMEA Partner of the Year 2017. FHL’s 150+ NetSuite customers now have access to Kyriba’s cloud-based solutions.

 

Security is a growing issue for treasury and finance professionals, just as accurate cash flow forecasting and the power to make strategic decisions at the CFO level are of high ranking priority, according to a recent benchmark survey from PwC.[1] With Kyriba, FHL now delivers a suite of treasury management solutions to complement its NetSuite portfolio, helping finance professionals to effectively manage cashflow forecasting and operate more strategically in a secure cloud environment.

 

FHL, a UK-based cloud solutions provider, named NetSuite’s EMEA Solution Provider Partner of the Year on six occasions – offers a range of services to its European clients such as consulting, planning and project management, solutions development and training.

 

“We are dedicated to providing our customers with ‘best of breed’ cloud solutions and are pleased to join forces with Kyriba,” said Andrew Peddie, Managing Director of FHL. “Kyriba’s world-leading cash management solution adds value to our NetSuite offering, helping organisations improve their cash visibility and better secure their assets.”

 

Kyriba’s treasury, cash and risk management solutions are delivered 100 percent in the cloud, and seamlessly integrate with NetSuite, providing NetSuite users with enhanced functionality, including strategic cash management, increased payments security, cash forecasting, bank reconciliation and automated financial management processing.

 

“As a premier NetSuite partner, FHL will be a fantastic advocate of Kyriba in the UK,” said John Campbell, Managing Director of Kyriba in Northern Europe. “As a modular solution, Kyriba’s and now FHL’s clients benefit from the flexibility inherent in our modular, SaaS delivery-model. Customers can maximise the value of their spend by selecting and implementing the modules they require now, and then have the opportunity to add modules as their needs evolve.”


[1] The ‘virtual reality’ of treasury | Global Treasury Benchmark Survey 2017 – PwC

European IT & Software Excellence Awards 2017

WineSuite has made the final in the ‘Vertical Solution of the Year’ category of the European IT and Software Excellence Awards 2017. WineSuite is a state-of-the-art cloud-based solution for the wine industry built by FHL, powered by NetSuite.

The winner will be announced at the Awards Dinner at the Royal Garden Hotel, London on 30 March 2017.

With specialist features including reserves and portfolio management, bonded warehouse management and en primeur sales, WineSuite has been developed to make operating within the wine trade as hassle-free as possible.

Andrew Peddie, Managing Director of FHL said “This award is testament to the first-class team we have at FHL. After seeing a gap in the market for a cloud-based solution specifically tailored for the wine industry, the team took time to fully understand merchants’ complex needs. WineSuite is now THE solution for the wine industry. No other provider can boast as comprehensive, user-friendly, scalable and as powerful a solution.”

Tom Mann, Sales Director from Appellations adds, “WineSuite is completely customisable, we can use it anywhere in the world and it’s perfectly tailored to our needs. It’s simply head and shoulders above every other solution on the market.”

Major risks of not choosing the cloud

Given recent high-profile media reports of cloud hacks, it’s no wonder business owners are nervous about putting their operational data in the cloud, but is this fear justified?

With more businesses accepting that not having business data in the cloud is a bigger risk than trying to manage it in house, it’s worth taking a closer look.

Not all “clouds” are created equal

Reports of cloud hacks affecting one billion Yahoo emails and iCloud’s private image store are obviously worrying, but in a business context, these events are much less frequent and rarely, if ever, related to “true cloud”.

It’s important to recognise that not all clouds are created equal.

So, what is the cloud exactly? It’s still computers, databases and the internet but it’s important to look at how it’s configured.

Traditionally, software has been operated “on-premise”, which is a single version of software on the company’s server, connected to the company’s network, on the company’s premises and supported by the company’s own people.

It is purchased and owned by a single owner who is entirely responsible for the upkeep of the system.

State-of-the-art “true cloud” solutions work differently. True cloud providers deliver an application which serves multiple customers. It’s always up to date, capable of being configured to specific needs, globally accessible, requires no IT skills to manage, cost-effective due to a subscription-based model and sits separate from client data meaning that it’s far more secure.

Then there are the “fake cloud” solutions which are a hybrid. The software, servers, network and IT skills are outsourced. It is still a single version of software, but just not on your premises, and so the benefits of “true cloud” are not being enjoyed while the risks associated with on-premise are still very real.

The issues around on-premise and fake clouds

Up until a decade or so ago, on-premise was the only way a business could buy software and customise it to its needs.

The issues of going down this route is that software can go out-of-date very quickly and having to rely on updates and IT people to maintain it can be very expensive and sometimes, upgrades cause problems.

It’s also typical for companies using on-premise software to become “locked” to a version of software and later identify IT requirements for software as a bottleneck and not the enabling force that they had hoped for.

Of course, on-premise systems that rely on human intervention and manual processes are less reliable than a properly programmed application.

In fact, it’s not uncommon for business owners to back-up financial data to a USB stick and companies to faithfully back-up their data onto magnetic tapes that turn out to be blank.

Fake cloud environments are a poor compromise. The only “benefit” to the customer is that other people are “hosting” and managing their application for them (and charging them handsomely for it!).

So, with the upsurge in so-called fake cloud environments, it’s now difficult to be 100 per cent certain where the data resides, how it is segregated, protected and backed-up and exactly who can access it, move it, write to it or delete it.

Why is not choosing the cloud such an insider fraud risk?

For most businesses, data is critical. Lose the data, lose the business. Data is so valuable that it is equivalent to money.

If you choose to go on premise, this is akin to keeping your money in a shoe box under your bed, and by going with a hosted provider or a fake cloud environment, this is like keeping a box of money under someone else’s bed! Only a true cloud solution is like putting your money in the bank.

Insider threats present a far greater risk when you choose a solution that isn’t true cloud.

For instance, when business software provider, Sage, experienced a data breach potentially impacting 280 firms, it turned out to be a disgruntled employee.

This is not an isolated case. CIFAS’s Employee Fraudscape 2016 report highlights that 153 organisations identified a total of 585 confirmed insider fraud cases in 2015. This includes 38 cases of unlawfully obtaining and disclosing commercial or personal data.

Whether employees purposely commit fraud or do so through negligent/accidental behaviour, the fact remains that on-premise servers offer insiders far greater access to the company’s valuable data.

Don’t be a technological dinosaur

Dwelling in the past is not an option for progressive business owners. A true cloud business solution could make the difference between success and failure, with non-cloud solutions proving higher risk and more difficult and costly to change.

For many businesses, not choosing the cloud could see them left behind by their competitors and quite possibly extinct.

Andrew Peddie is MD of cloud solutions provider FHL

Image: Shutterstock

Read the original article on RealBusiness

From Sage to NetSuite (in just 8 weeks!)

When Allied Insulators Managing Director Jon Knapper opted for a management buyout, he was faced with a challenge.

Could he find a cloud based software system to run his new venture?

Even if he could, would it be possible to migrate all his business information from Sage without interrupting the business?

Jon had just 8 weeks to accomplish this.

NetSuite solution provider FHL not only achieved this, they delivered:

  • 70% reduction in manual processes
  • 80% reduction in paperwork, filing and data entry
  • 100% cloud based solution

“Thanks to FHL, our day to day operation is extremely smooth” says Jon.

This Reels in Motion video production sums the project up nicely in under 3 minutes.

More videos soon…