#TreasurySnippets Season 02

The Concept of Treasury as a Service (TaaS)
TreasurySnippets Season 02 _HEADER
Martin Bellin author pictureAuthor: Martin Bellin

Those who have been following the BELLIN YouTube Channel already know our #TreasurySnippets. In today’s blog post we would like to present the highlights of season 2, which focuses on TaaS. In the videos below Martin Bellin explains what TaaS stands for and how it can add value to your organization.

Do you have certain processes in your treasury that you don’t want your staff spending their time on? Do you have complex requirements that would mean hiring new, experienced staff? BELLIN’s answer to all these questions is simple: TaaS.

What does TaaS mean?

TaaS, short for Treasury as a Service, mirrors the very ambition of modern treasury: eliminating inefficient, non-value added and repetitive tasks by outsourcing them to someone else who is familiar with the system and understands treasury processes.

TaaS covers the full range of corporate treasury operations in the corporate’s front, middle or back office, including operative maintenance of static data; regular system data verification and maintenance; account statement collection and verification; daily financial status reporting; automation control and error resolution; monitoring liquidity forecasting; concluding FX hedges based on pre-defined hedge ratios; monitoring multilateral reconciliation processes; or performing netting runs. This allows treasurers to spend their valuable time on more strategic tasks and processes that add value to their organization.

How can TaaS help you optimize your resources?

TaaS supports you in allocating your resources in the best possible way. In many organizations for example, certain tasks, such as netting, are performed just once a month. In order to give your treasury team more time for strategic treasury responsibilities, these “once-a-month-tasks” could be outsourced to the technology provider who knows the application like the back of their hand. Thereby, valuable time and resources can be saved. This will reduce trainings needs and give your organization more flexibility. Concentrate on what you can do best and unlock your treasury capacities.

How can TaaS optimize your treasury without implementing a system?

The implementation of a new system usually requires a lot of resources and a lot of time. When using TaaS, you do not have to implement or acquire an application yourself. The provider of the software takes care of the system for you, enters static data, sets the right triggers, and adjusts the system to your needs.

What will the future of treasury management look like?

In the last video of season 2, Martin gives an interesting outlook on the trends and developments he envisages for treasury. Driven by a globalized world, the treasury team has to acknowledge different cultural backgrounds, regulations and circumstances that increase the complexity of the project.

TaaS is the future, as it allows companies to increase their efficiency by getting rid of repetitive work. In the past, most treasurers would have been wondering which tools and applications they need to get access to valuable data. In the future, for many the question of tools will become redundant: finance professionals will be looking for services to deliver the results they need.

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