SaaS / Features

SaaS vs. On-Premise

On-premise (Traditional Licensing model)Software-as-a-Service (SaaS)
HardwareIT-Hardware has to be bought and maintained.The customers uses the shared hardware of the hoster.
SetupIt needs much time, employees and work for the setup.The base structure already exists and only client-connected things have to be setup.
FlexibilityYou enter into a longer-term commitment, because changing the software is more expensive.Changing the software is less expensive, so you are more flexible.
CostsThe complete software/hardware must be paid for upfront. Afterwards, update contracts must be paid.The costs are paid as monthly fees. And only what is really needed is paid.
UpdatesThe updates of software and things like operating system etc. has to be made by the customer.The provider takes care of the updates and are included in the price.
Datensicherheit &
You have to take care of backups and prevention of unauthorized access yourself.The provider assumes full responsibility for data protection.
Physischer ZugangThe customers have no access to the server on which the data is stored.The customer has complete physical access to the data.

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.