WallStreet Systems a provider of treasury, trading and settlement solutions has launched Wallstreet Treasury as an online service. The core Wallstreet Treasury service costs $800 per user per month. 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 says the company.
Under this new model, clients are able to add to the core Wallstreet Treasury solution by choosing options from Wallstreet's integrated partner network, therefore only paying for exactly the services they need for each user whilst ensuring all aspects of their treasury requirements are met through one supplier. Amongst the suppliers at launch are; Fides Treasury Services, which provides off-the-shelf connectivity to more than 850 banks; Speranza Systems, which enables automated, real-time bank relationship management, providing full transparency of signing privileges and accounts, as well as electronic document exchange and Reval, a provider of multi-asset hedge accounting solutions.
WallStreet says it will add to its partner network over time 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."
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