2 TREASURY & RISK JUNE 2017 SPECIAL REPORT treasuryandrisk.com
Just 10 years ago, using cloud-based technology seemed a little too advanced for many corporate treasuries. Now treasury workstations based in the cloud have become the default for small and midsize companies, and cloud solutions are making inroads among
the largest, most complex treasury operations.
Moving from software that is installed on
a company’s own hardware, to solutions that
are hosted on the hardware of the provider or a
third party and accessed via the Internet, frees
a company from IT chores and ensures that it
is using the latest version of the technology
without having to go through the process of
implementing upgrades. The shift can provide
the technology at a lower cost, as well.
The security concerns that were perhaps
the biggest barrier to many companies’ use
of cloud solutions are being tempered by a
realization that in an environment in which
cyber risks loom ever larger, cloud providers
may be able to devote more resources to
cybersecurity than any one corporation, no
matter its size.
A recent survey of almost 1,000 finance
professionals around the world conducted
by Reval, consultancies Treasury Strategies
Inc. and Zanders, and Standard Chartered
Bank showed that 60% of companies in
North America have adopted cloud treasury
software. (See chart on page 3.)
“Nobody’s buying installed software
anymore,” said Bob Stark, vice president of
strategy at Kyriba, a provider of software-as-a-
service (SaaS) treasury and risk management
solutions. “What people are buying today, and
have been for the last five or 10 years, has all
“For the most part, everyone is in the cloud
one way or another,” Stark said.
He added that the impetus for the move
to software as a service is coming from
What people are buying today, and have been
for the last five or 10 years, has all been cloud.
—BOB STARK, KYRIBA