Tag Archives: Finance

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

VAT Rate Changes in 2013

Now’s the time to get ready for the 2013 tax changes in your organisation.

It has been confirmed that two countries will increase their VAT rates by 1% in January 2013. If you trade, or plan to trade with either Finland or Cyprus, you will need to take note of the following rates and remember to change them in your accounting software packages.

Country Date Standard Rate Reduced Rate Special Reduced
Finland 01/01/2013 24% 14% 10%
Cyprus 14/01/2013 18%

NetSuite users who trade with these countries will be required to create tax codes to reflect these new rates. Guidance on how to do this can be found in the NetSuite Help Centre under “Managing Tax Rate Changes”. Alternatively, you can contact First Hosted or NetSuite Support for further help.

If your organisation trades with the Czech Republic, you will need to keep a lookout for news regarding the proposed 1% VAT rate increases, originally due to take effect on 1st January 2013. These have not yet been approved by the respective bodies. Read more…

New EU VAT Rules for Businesses

There are also going to be new EU VAT rules to make life easier for businesses from 1st January 2013. In summary, electronic invoicing will have to be treated the same as paper invoicing, and Member States will be allowed to offer a cash accounting option to small businesses with a turnover less than €2 million a year.