Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, has announced that Fujitsu has signed for Wallstreet Treasury SaaS, the software-as-a-service (SaaS) treasury management solution launched in October 2008. This represents the first stage in the transformation of Fujitsu's Global Business Group Treasury operations.
Since its launch as a SaaS solution, Wallstreet Treasury has been cited by industry experts as the future of treasury management, for its proposed ease and speed of implementation, and best in class service partners, offering a rich and comprehensive 'treasurer's desktop'.
Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace and Wallstreet Treasury SaaS will provide it with enhanced visibility of global cash positions, greater liquidity management functionality and the flexibility to remain ahead of future treasury management innovation.
Paul Wheeler, Managing Director, Wallstreet Treasury, said: "Fujitsu's decision to use Wallstreet Treasury is an endorsement not only of the SaaS concept with our integrated partner network, but of the quality and scalability of our product, our strong implementation track record, and our ability to align with the total solution needs of treasurers today. Treasurers seek all this through a low cost of ownership model with low risk implementations and against a long-term partnership that can provide solutions that extend to meet their continued demands and growth."
Wallstreet Treasury SaaS is a hosted service with an integrated best of breed partner network. Fujitsu will initially use the core Wallstreet Treasury product and partner services of Fides for bank connectivity and 360T for over the counter trading. It also has plans for the bank relationship management module provided through Speranza to be utilized next year.
Stuart Clarke, Group Treasurer, Fujitsu said: "Wall Street Systems as an organisation, and SaaS as a delivery methodology are ideally suited to the Treasury aspirations of Fujitsu's Global Business Group. Managing risk across multiple regions, delivering scalability and remaining agnostic to the evolution of underlying ERP systems and banking partnerships is a highly attractive proposition which will deliver material benefit to the Fujitsu Group."
Jud Murchie, Analyst, Aite Group said "Speaking to many corporate treasurers, one of the most critical factors I am seeing from those in the market for a new treasury solution, is the need for ease of deployment. This is one of the biggest strengths of the software-as-a-service model. We expect to see SaaS solutions take an incremental share of the future TMS market, as the concept is proved in the minds of corporate treasurers. Wallstreet Treasury SaaS is well positioned in this respect."
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