On-Premise vs. Cloud

On-premiseSoftware-as-a-Service (SaaS)
Data Security & BackupThe customer must take care of backups and prevention of unauthorised access himself.Client data is never held by softcash ag. Data and programmes are managed by green.ch, which complies with Finma-recommended guidelines for banks and insurance companies. Data backup on the ASP server is covered by the user fees.

Certificates
ISO-27001
ISO-50001
PCI-Compliance

Each client has ‘its’ own database. The clients’ data is strictly separated physically.
Physical accessThe customer has physical control over his data.For security reasons, the customer does not have direct access to the database on the ASP server. However, he can independently take security measures, such as IP restrictions. In this way, he also has physical control and sovereignty over his data.
HardwareThe customer procures its IT hardware itself. This means that prior investments are necessary. The client also incurs ongoing operating costs for maintenance.The customer also uses the hardware of the hosting provider. This means that he does not incur any costs for the acquisition and maintenance of server hardware.
FlexibilityWith increasing requirements (higher transaction volume, etc.), new hardware must be procured, which is associated with additional costs for the customer.Even with increasing hardware requirements, this does not represent a cost factor for the customer with a cloud solution. Corresponding costs are covered by the usage fees.
Software installationThe software is installed on each customer’s own server.The software is installed on the ASP server and is then available to all customers. The installation costs are thus spread over many customers, except for the installation of his own SQL database (but always included in user fees and budget).
Software updatesThe maintenance of the software and updates are included in the usage fees. The delivery and installation of new releases on the customer server will be invoiced to the customer by softcash ag.Maintenance, updates and the installation of new releases are included in the user fees.
StaffWhen running an application in-house, various persona is required to
– administer the server(s)
– On-call service for malfunctions/failures
– Application support
– Maintenance of the application (e.g. updating)
In the SaaS model, these costs are already included in the usage fees and are therefore no longer incurred separately.

More aspects of magnet

In magnet there is a context sensitive online help available. For revision and security reasons, interventions and manipulations in the system are completely traced with log files. Access via mobile devices is possible for selected functions (e.g. signing EFT payments).

Via a task manager, users/groups are assigned tasks dynamically and online. Tasks can be periodically recurring (e.g. daily disposition) or ad hoc jobs (e.g. pending time-critical payments that have not yet been transmitted). Users can be automatically sent e-mails with confirmations of completed transactions.

Companies are entered and displayed in a hierarchical tree on several levels (company hierarchy). User authorizations are assigned via user categories or individually.

Different language and country versions take into account international aspects of a program deployment. And not only with the realization of the mirror bookings the principle of one-time entry was consequently realized in magnet® – also functions in the holding, pooling and clearing area are specially supported.


Global treasury management

Centralized or decentralized treasury?

The globalization of companies also increasingly affects the treasury departments. The question then arises as to whether a central office or local competence centers should be set up in Treasury.

There is no ‘right or wrong’ answer to this question. Rather, various factors, such as tax and legal aspects, have to be considered. In addition, other points must also be included in the decision. This includes, at most, different time zones within the company group, but also possibly a lack of knowledge of the local situation.

Technical aspects

As a producer of the Treasury application magnet®, softcash ag is required to meet the technical requirements for both a centralized and a decentralized treasury.

In magnet®, individual units (subholdings and / or active subsidiary) companies can operate autonomously and locally, their own treasury. They can import their account statements locally, process trade with local banks or the management company within the scope of their competencies, drive reports for their area and, if necessary, also use their own financial interface. Nevertheless, they remain part of an overall system.

Application requirements

In addition to technical considerations, magnet® also takes into account application aspects.

Intercompany trading includes mirror bookings. If a management company with a subsidiary concludes a fixed-term deposit, this is a fixed-term deposit from the point of view of the subsidiary. With appropriate parameterization, magnet® immediately generates a fixed recording as a parallel booking when recording this fixed system. In the case of an active company, the Treasury manager of the subsidiary must still accept the transaction in a confirmation procedure. This is not necessary for a passive subsidiary.

For intercompany transfers, magnet® automatically generates parallel bookings on Intercompany accounts. As part of intercompany account management, the interest billing procedure is administratively supported.