What is SaaS?

Software-as-a-Service (SaaS)

The basic idea of SaaS is very similar to an energy supply company. The customer draws his electricity via the socket as required. In doing so, the customer does not manage their own power packs in the backyard, but the energy supplier takes the necessary work for the generation of electricity. The customer only uses the electricity and pays for a usage-dependent fee.

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Software-as-a-Service (SaaS)

The basic idea of SaaS is very similar to an energy supply company. The customer draws his electricity via the socket as required. In doing so, the customer does not manage their own power packs in the backyard, but the energy supplier takes the necessary work for the generation of electricity. The customer only uses the electricity and pays for a usage-dependent fee.

The described basic idea can equally be transferred to the SaaS model. The service provider provides, operates and provides technical support in a data center. It takes care of all the necessary components of a data center: networks, storage, databases, application servers, web servers as well as disaster recovery and backup services. Other operational services such as authentication, availability, identity management, production control, patch management, activity monitoring, software upgrades, and customizations are also implemented. The service provider does not install its own software. For the use only an internet-compatible PC as well as the internet connection to the service provider is needed. Access to the software is realized via a web browser or a web-based Windows software. The operator pays a usage-related fee for the use and operation.

In essence, the models described above differ in that the IT infrastructure and IT tasks are no longer operated by the service provider, but by the service provider. The service provider does not pay an entire software license, but a monthly, usage-dependent fee. One goal of Software-as-a-Service is to save high investment costs for the IT infrastructure (e.g., hardware, memory, etc.) and IT tasks (e.g., software maintenance, updates, etc.).

The traditional software licensing model

In the traditional licensing model, the IT infrastructure, the development of solutions and the software together represent a complex, expensive and risky investment. The customer buys the software and thus receives the license as well as the right to use the software. The provider provides the customer with an installation package. A complete IT infrastructure (hardware, operating system, database, etc.) is required for the installation.

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The traditional software licensing model

In the traditional licensing model, the IT infrastructure, the development of solutions and the software together represent a complex, expensive and risky investment. The customer buys the software and thus receives the license as well as the right to use the software. The provider provides the customer with an installation package. A complete IT infrastructure (hardware, operating system, database, etc.) is required for the installation. After successful installation, the software is configured according to the business requirements. With the completion of the software launch, the company takes over the complete operation of the IT infrastructure and the associated IT tasks.

The purchase of a license is usually also associated with a maintenance contract, which in turn includes incalculable consequential costs. These include installing new releases and resolving software errors.

Source: Wikipedia

SaaS / ASP Solution vs. In-house Installation

SaaS as an ASP Solution

Magnet® can be operated as a cost-effective software-as-a-service (SaaS) solution via an ASP (Application Service Provider). In this case the programs and the customer data are stored with an ASP provider. For security reasons, one of our requirements is to the ASP provider that it is certified. The customer data is therefore not available at softcash ag. For Swiss customers, the data is stored in Switzerland without exception.

On the same ASP server many customers work with the same program stand. This means that e.g. new releases or patches need to be installed only once for all these customers. The resulting effort is spread over several customers. And this also explains why the ASP solution is significantly cheaper than the in-house variant, although the customer does not need a server of his own.

 

In-house Installation

Of course, a customer can also operate the software magnet® on their own server as an in-house installation. This would give him, among other things, In addition, to use test and / or recovery systems.

Features of magnet®

Future-oriented Infrastructure

Through the web capability, magnet® can be arbitrarily distributed geographically, i. Server, user, finac system, corporate and / or subsidiaries can be distributed to any location. Magnet® was designed as a central and / or decentralized treasury system. Thus the needs and requirements of

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Future-oriented Infrastructure

Through the web capability, magnet® can be arbitrarily distributed geographically, i. Server, user, finac system, corporate and / or subsidiaries can be distributed to any location. Magnet® was designed as a central and / or decentralized treasury system. Thus the needs and requirements of

  • multinational corporations
  • SMEs
  • subsidiaries

ideally covered.

For the operation of magnet® it is largely possible to dispense with the use of costly software. The navigation has been optimized for users. This allows the user to create an individual, processor-oriented Menubar under a Wonderbar.

In magnet®, a context-sensitive online help is available. For revision and security reasons, interventions and manipulations in the system are comprehensively tracked with log files. Accesses via mobile devices are possible for selected functions (e.g., subscribing to EFT payments).

Via an event and task manager, tasks are assigned to users / groups dynamically and online. Tasks may be periodically recurring (e.g., day scheduling) or ad hoc jobs (e.g., pending, time-critical, unsuccessful payments). Users can automatically send e-mails with confirmations about completed transactions.

 

Other aspects of magnet®

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

Various language and country versions take account of international aspects of the use of programs.

 

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Other aspects of magnet®

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

Various language and country versions take account of international aspects of the use of programs. And not only with the realization of the mirror trades, the principle of one-time data collection was consistently implemented in magnet® - functions in the holding, pooling and clearing area are also specifically supported.

Magnet® has a high standard with regard to functionality and user-friendliness. In individually available modules, a company can select tailor-made areas of application that meet the needs of the respective time. Later can be expanded without restrictions. With the monthly fee-based licensing model (SaaS), full costs can be budgeted.

Global Treasury Management

Central 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.