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.