Wallstreet Treasury Software as a Service (“SaaS”) Model Launched At a Fixed Monthly Subscription Fee with a New Partner Network
Stand 1417, AFP Annual Conference, Los Angeles, 20 October 2008 –
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announced Wallstreet Treasury is now available as an online service with a newly launched integrated partner network. The core Wallstreet Treasury service costs $800 per user per month, giving mid-tier corporate users access to best practice functionality at a highly competitive rate. Test marketed this year, over 90% of new clients have chosen to subscribe to the software, instead of purchasing and running it in-house. Cost and convenience have made it a compelling value proposition.
Under this new model, clients will be able to add to the core Wallstreet Treasury solution by choosing options from Wallstreet’s closely integrated partner network, therefore only paying for exactly the services they need for each user whilst ensuring all aspects of their
corporate treasury requirements are met through one supplier. Partners available at launch are:
- Fides Treasury Services, an alternative to traditional bank interfaces and workstations, providing off-the-shelf connectivity to more than 850 banks and allowing integrated payment and statement services.
- Speranza Systems, which enables automated, real-time bank relationship management, providing full transparency of signing privileges and accounts, as well as electronic document exchange.
- Reval, the leader in multi-asset hedge accounting solutions.
Wallstreet will be adding to its partner network over time, linking with complementary treasury solutions providers to offer a full “treasurer’s desktop” to its clients.
“Until now, corporate treasurers seeking an integrated solution to provide not only a global view of cash, but deeper cash and liquidity management functionality have had to incur capital expenditure and run large scale enterprise-wide IT projects” said Paul Wheeler, managing director of Wallstreet Treasury at Wall Street Systems. “However, with our Wallstreet Treasury service and our expanding integrated partner network, they can now rapidly benefit from a rich and comprehensive set of enhanced treasury functions, yet still address today’s key business demand for cost control.”
Wallstreet Treasury clients that have selected the subscription service include National Express Group plc, adidas, Mazda and Six Continents.
Fritz Thomas Klein, CEO of Fides commented: “Clients of Wallstreet Treasury who choose Fides will eliminate the need for multiple bank interfaces and/or bank workstations, and gain a secure and robust single engine to access balance and statements across their global bank network, being able to make payments to these direct from the Wallstreet Treasury application too, removing also the worry of individual application management. We are excited to be a part of this new network.”
Glen Solimine, CEO of Speranza added: “"Speranza shares a vision with Wall Street Systems to create a platform addressing the transactional, analytical and administrative components of treasury. More and more companies are relying on Speranza to help control the administrative requirements of their bank relationships. Together on the Wallstreet partner network we offer a comprehensive solution set to a wide range of customers. The beauty is that this integration allows customers to access the best applications to address their treasury operations without the hassle and expense of maintaining various systems."
