The finance function has undergone a metamorphosis in recent times owing to financial crisis and several other events. The treasurer is now being relied upon to cut costs and add value to organizations. Treasurers, today, face the challenge of doing more with less and this is being facilitated by cloud. Cloud facilitates movement of money and information between countries. Having a centralized treasury team can be done away with as using cloud platform facilitates management of operations from every corner of the world. Communicating with partners outside the organization is also made easier with a cloud-based treasury management system. Treasurers are being prevented from using Cloud due to safety and security of data issues which can be overcome with cloud providers providing better security than in-house systems. Read more at: https://channels.theinnovationenterprise.com/articles/the-treasurer-and-the-cloud

A B2B based Cloud network called AutoDX (Auto Data Exchange) was recently implemented by IBM for Indian Auto industry. This electronic data exchange platform reduces the auto industry's transaction costs by 80%. This is useful because until this deployment the whole auto industry was using manual processes which were very inefficient. AutoDX is an example of how organizations in the same domain can come together and share cloud to reap benefits. Such cloud platforms can be useful as cloud has potential to reduce costs. To know more, go through Vipin Chandran (Member of Integration Services team of IBM DemandTec)'s article link: http://www.indiaonward.com/how-beneficial-could-a-multi-tenant-private-cloud-be/