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A significant portion of companies now use a cloud-based treasury system, although the majority still rely on software installed on-premises, according to a recent survey. Going forward, analysts and consultants expect increasing numbers of treasury departments to adopt cloud-based systems, particularly at small and midsize companies.

The survey of more than 400 businesses around the world, conducted by the Association for Financial Professionals (AFP) and its gtnews unit, shows that 58% use some kind of treasury management system; the portion is 66% in Europe and 53% in North America.

Among those companies, 54% use an installed, dedicated system, while 13% rely on the treasury module of the company’s ERP system and 33% use software delivered via a software-as-a-service (SaaS) or application service provider (ASP) model.

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