Handing off IT chores may be the biggest selling point of a move to the cloud, but treasury executives cite a number of other advantages as well, ranging from cost savings to the community of users.

At Rockefeller Group, a New York City-based commercial real estate developer, owner and investor, the adoption of a software-as-a-service (SaaS) treasury solution from Kyriba freed the treasury team from the work involved in upgrading and maintaining the system, which had been a burden for the relatively small group, according to Sam Pallotta, the company's treasurer and vice president.

Previously, when treasury used an installed workstation, "whenever there was an upgrade to the system, we would have to do a lot of beta testing and work to make sure the application was still working correctly based on our specifications," Pallotta said. "We only have four people [in treasury], so all of the sudden one of my two cash management employees was focused on this beta testing.