Over the last three years Salmon Software has signed a number of corporates who are accessing the company’s Treasury Management System (TMS) through its Software-as-a-Service (SaaS) or cloud computing option.
“Cost is no longer a valid excuse for mid-range and smaller corporates continuing to use spreadsheets to manage their increasingly vital treasury function,” states John Byrne, CEO, Salmon Software.
He says that the availability of cloud computing based, modular, subscription-based, treasury management systems means that mid-tier and smaller corporates can access TMS functionality equivalent to their enterprise peers.
He notes that even amongst larger corporates, it is increasingly rare these days for them not to seek a cloud as well as on premise option when they go out to tender for a TMS.
“The SaaS model eliminates the need for large upfront capital expenditure. In addition, as it provides treasury management software on a modular basis, companies only license and pay for on a subscription basis what they actually need.”
He says that some companies will want a variety of different financial instruments while others will require just cash management and/or forecasting. Some will want automated electronic payments, inter-company position keeping and more companies are simply looking to report to their repositories under their EMIR obligations.
“As the software is modular and available in the cloud companies can cherry pick what they want to match their needs.”
Using the most up to date technology offered by Microsoft through their Azure cloud platform, Salmon Software offers Salmon Treasurer and the Salmon Cash multi-lingual web portal so that the client can select a packaged level of functionality that suits the requirements of their treasury operations.
Using the different functions users are able to start at a basic level, to simply review cash management, check on non-reconciled Items and the successful integration of forecasting using within Multi-Book, Multi-Tiered cash forecasting tools. Growing through to Notional & Multi-Tiered Physical Cash Pooling or Centralised/De-Centralised web based user intercompany interaction onto full Risk and Exposure analysis of the whole treasury group.
John Byrne concludes, “The cloud has eliminated the gap between the technology being used by large multinationals and small and mid-sized companies. The difference is only in scale. All this technology is now available from Salmon Software to every corporate treasurer at a reasonable price on a subscription basis.”