The cash and treasury management system providing the ASP solution is usually hosted and maintained by the supplier in its data centre, though it can be hosted in the company’s data centre, if required. Medium sized and large companies have used ASP solutions for several years now, but over the past couple of years some very large companies have also begun to use them. One of the largest, Procter and Gamble, recently moved the whole of its treasury operations from a Wall Street Systems in-house installation, which was fully integrated with its ERP systems around the world carrying out $1 trillion worth of transactions a year, to the Wall Street Systems ASP solution, a move which has proved extremely successful.
John Byma, Procter and Gamble’s director of global treasury, explains, “We have been in our ASP model for nearly 18 months and have resolved most of our concerns around maintaining long-term technical skills, increased the end-to-end velocity of new development and issue resolution by concentrating the resources with those that know the system the best and increased our ability to stay ahead of capacity and infrastructure changes, all at a lower cost. Net, we sleep well at night and are even more comfortable now with our ASP decision than we were at the time we made it.”
SaaS solutions are internet-based and standardized, with the supplier using one or more partners to offer a comprehensive cash and treasury management service. They are typically used by small to medium sized companies paying a monthly fee and cost considerably less than an ASP solution.
Future
With the new technologies, systems and networks for controlling and combatting fraud, minimizing risk, improving treasury department connectivity, automating bank relationship management and improving efficiency and compliance increasingly becoming internet-based, the internet really does seem to be the future of cash and treasury management.
