How Mistaking ASP for SaaS Can Cost You
If your treasury system´s licence is expiring and you are trying to decide whether the solution you have in place is still the right tool for your team, you may want to consider a cloud solution. But be careful, not all cloud solutions are the same, and what you don´t know can cost you. There is a difference between Software-as-a-Service (SaaS) platform and Application Service Provider (ASP) software. Find out from the chart below, why a true SaaS pays off quickly:
| What you need | ASPHouse-to-House | SaaSThe Power of Community |
| Room to grow | Economies of scale are limited – if you require additional users, you need to pay for it. This creates an unpredictable expense stream. | An annual subscription fee with no hidden costs. Your subscription should already include upgrades, data, security and integrated services. An annual fee ensures you control the subscription requirements as your business grows. |
| Proven security | Minimum security is provided. Clients must dictate their security requirements to the ASP provider at an additional fee. | SaaS environments provide the highest level of security. Ongoing monitoring and testing should be performed by internal and external parties. Users will benefit from SSAE16 compliant security protocols, including encryption, intrusion and penetration testing at no extra cost. |
| Fast upgrades | Upgrades are individually deployed to meet many single-instances of the application. These upgrades are installed in your individual environment for a fee and on a first come first serve basis. Quality assurance and post-upgrade testing costs are your responsibility. | There are no costs or investment of time when it comes to SaaS upgrades. Upgrades should come with standard service and should be rolled out at pre-defined periods. As every SaaS client is on the same version of the application, timely upgrades allow you to respond fast to market demands. Quality assurance and testing is the responsibility of the SaaS provider. |
| Integration with other systems | Additional managed services, such as trade portals, general ledger, market data and bank connectivity are your responsibility to select, implement and maintain. | SaaS solutions are designed from inception to be open and easy to integrate with standard web service technologies, such as trade portals, general ledger, market data and bank connectivity. SaaS providers should integrate and maintain value-added services as part of the core service offering, removing the costs and hassle of maintaining disparate systems, relationships and contracts. |
To find out more about SaaS technology read our The Power of Community brochure or listen to the Clarity in the Cloud podcast.
Alexander Peyrer
Aayushi
Willibald Rieder studied Technical Mathematics at the Technical Vienna University of Technology and then worked as a software developer. From 1980 to 1983 he was Managing Director of Polydata GmbH in Munich. In 1984 Willibald established ecosoft in Vienna. In 2001 the company merged with ZOSO to form ecofinance Finanzsoftware & Consulting GmbH. In addition to his responsibilities as Managing Director, Mr. Rieder also acts as an expert speaker at the Research Institute for Banking at the Johannes Kepler University Linz, and is co-author of the book “Cash Pooling. Modern Liquidity Management for Financial, Legal and Fiscal Purposes”.
Peter Haberler brings over two decades of entrepreneurial expertise to his role at Reval, where he helps banks deepen their relationships with corporate treasury clients by using innovative treasury services technology. In 1992, Mr. Haberler co-founded ZoSo GmbH, where he also served as CEO. There, his visionary technology product won him recognition as an early pioneer of software development for mobile handheld devices.
Kirsten Behncke Colyer is Executive Vice President, Chief Human Resources Officer at Reval, where she oversees and guides Human Resources and Administration globally. Reval is the fourth financial technology company at which Ms. Behncke Colyer has successfully applied her leadership. With over 20 years of establishing and reshaping global HR departments, Ms. Behncke Colyer brings a strong track record of aligning business practices with corporate goals, strategies, and values. Prior to Reval, she built a leading-edge, global HR function for Lab49, a capital markets IT consulting company, where she focused on employee performance, retention and HR infrastructure.
John Mitchell heads up Reval’s Global Sales organization, where he is building a world-class, high-performance sales team focused on industry-leading growth. Mr. Mitchell brings over 25 years of global sales experience across large, public enterprises, growth companies, and nascent start-ups. His leadership with companies in the UK, US and APAC regions includes achieving high-double-digit growth for Asset Control, a Fidelity Ventures company with focus on capital markets data management, for which he expanded its geographic and segment footprint as Vice President, Global Sales & Marketing; establishing and growing sales teams across the Americas and in Japan for Fortent, an anti-money-laundering and anti-terrorist funding solution for the world’s top 50 banks, where he sold each of Japan’s mega banks as Vice President Sales, Americas and Japan; and taking database tools software company Bradmark Technologies into 20 new countries as Senior Vice President, Global Sales & Marketing.
Duygu Cibik is Executive Vice President, Chief Customer Success Officer at Reval, where she leads the Customer Success Management (CSM) function, helping clients achieve success using Reval. As advocate of the customer, Ms. Cibik manages the global customer success management team and the client support functions to keep clients fully engaged and continually experiencing the full value of their investments in Reval. She brings over 15 years of leadership experience in enterprise subscription-based software and services across strategy, product and customer success roles. Her track record includes growing over 100 million-dollar enterprise product and customer portfolios.
Patrick Cannon is Executive Vice President, Client Services at Reval, where he oversees global professional services and client support teams. He is responsible for providing excellence in post-sales Client Services, through the delivery of industry-leading best practices. Patrick brings over 16 years of experience in client-facing roles, having led key project and relationship management initiatives for start-up and growth-stage companies.
Justin Brimfield is Chief Marketing Officer at Reval, where he focuses on corporate strategy, inclusive of buy, build or partner analysis, and strategic marketing initiatives across the global organization. Mr. Brimfield is responsible for market research, pricing, brand management, digital marketing, advertising, public relations, and social media. Since joining Reval, he has been instrumental in helping the firm deepen its penetration in the North American corporate risk marketplace with the 2009 acquisition of FXpress and broaden its addressable market and global footprint with the acquisition of ecofinance in 2010.
Philip Pettinato is Chief Technology Officer at Reval with responsibility for managing the company’s research and development activities across three core operating groups: product management, product engineering and information technology. Mr. Pettinato has more than 25 years of experience managing and developing technology solutions for treasury, trading, risk management, accounting and post-trade processing of derivatives and capital markets products.
Dino Ewing is Chief Financial Officer at Reval with responsibility for financial, human resource, legal and administrative management. He has over 20 years of experience in financial management, operations and analysis. Prior to joining Reval in 2000, Mr. Ewing was Chief Financial Officer of HealthFirst, Inc., where he was responsible for business planning, financial reporting, and medical risk management. Previously, he worked as an investment banker at CS First Boston, a strategy consultant at Booz Allen Hamilton and as the Director of Budget & Analysis for the New York City Department of Transportation. Mr. Ewing holds a Bachelor of Arts degree in Economics, magna cum laude, from Yale University and an MBA from Stanford University.
Jiro Okochi is CEO of Reval, a company he co-founded in 1999 to bring an Internet technology solution to the underserved market of corporate derivative end-users. Under his leadership, Reval introduced a true Software-as-a-Service solution, which has since evolved from a best-of-breed financial risk management offering to a next generation, all-in-one SaaS for enterprise treasury and risk management.