New SaaS-based delivery model for TLM Reconciliations lowers barriers for firms to reduce Total Cost of Ownership (TCO) and operational risk Flexible, transaction based subscription model aligns operational cost to processing requirements Rapid on-boarding process reduces client’s time to benefit.
TLM OnDemand delivers the proven capabilities of SmartStream’s TLM Reconciliations applications as a secure, resilient and fully managed service designed for small and medium sized organisations. The service offers transaction based pricing that provides institutions with a variable cost base for their reconciliations operation, better aligning their operational costs with processing requirements. Additionally a rapid on-boarding process ensures clients gain efficiency savings in a matter of weeks.
“TLM OnDemand is SmartStream’s latest innovation and an integral part of our approach to helping clients’ drive down their transaction costs,” says Philippe Chambadal, CEO of SmartStream. “With firms demanding greater value from their IT investments TLM OnDemand provides a lower Total Cost of Ownership (TCO) route to accessing our market leading applications. Customers of all sizes, but particularly those in the mid and lower tiers, no longer have to compromise on the tools they use to improve efficiency, lower transaction costs and reduce operational risk. The launch of this innovative service will transform the reconciliations market place, and over time the broader back office function, bringing lower cost automation to new sectors and offering unbeatable value to our existing clients.”
“In the current economic environment, the benefits of SaaS in helping to lower the TCO of risk management solutions are clear, and we expect to see demand for SaaS growing significantly,” says Patrik Neutjens, head of partner management, SWIFT. “SWIFT will work with SmartStream, an important and long-standing SWIFT Partner, and the rest of our community to identify opportunities to support the take-up of SaaS to deliver cost reductions and improved risk management.”
TLM OnDemand’s approach to managing the reconciliations environment removes the cost and resource implications of managing hardware, infrastructure and upgrades in house. Manual processes and legacy applications are replaced, automated match rates are dramatically increased and reconciler efficiency is improved as the role transforms from a pure matching function to focus on exception management and customer service. As a result, TLM OnDemand enables organisations to lower the Total Cost of Ownership for reconciliations, while at the same time improving risk and cost control.
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