The debate over whether to use specialty treasury and risk management (TRM) solutions, or the treasury modules of enterprise resource planning (ERP) systems has been going on for years. Enter Software-as-a-Service (SaaS) delivery and you have even more to talk about.
Enterprise resource (ERP) modules have not been able to fully accommodate the rich functionality treasuries need while specialty treasury solutions go beyond automating cash transactions to providing advanced risk analytics that deliver intelligence for strategic decision making. Using the two together, though, can unlock the power of the data that resides in the ERP system, while bringing the functionality treasury needs. Add the benefits of a single-version SaaS TRM with deep cash and risk capabilities, and large, complex organizations will gain the ability to be nimble, collaborative and responsive to change.
Integrating a single-version SaaS TRM with an ERP system is a combined offering that can be greater than the sum of its parts. Here are just a few reasons:
- Less interfaces, less cost: Companies have complex internal and external environments, for which they make connections between their ERP, other internal systems and various external technology partners, such as banks, trading portals, and market data providers. A SaaS TRM and ERP integration can simplify and streamline these connections, eliminating the hidden charges of on-going software maintenance and enhancements.
- Easy upgrades: The upgrade paths of a SaaS TRM will always be in sync with a company’s ERP systems, even if there are multiple systems on various versions. The combination of the SaaS TRM and ERP enables companies to scale their system’s reach as they grow by acquisition or expand their global footprint.
- Access to information: Companies can tap the power of the organization’s information from anywhere with access to an Internet browser. Streamlined workflow of treasury and risk management activities moves information more efficiently across a single platform for executing trades, completing payments, managing cash and financial risk and accounting.
Chief financial officers (CFOs) care about integration issues and treasurers want to ensure they have the functionality they need. An innovative SaaS TRM that has codified best practice functionality from the largest, most complex organizations in the world can provide the best of both worlds. For additional information about how Reval’s SaaS TRM can integrate with ERP to keep treasury nimble and strategic, click here.