<s>
A	O
treasury	B-Application
management	I-Application
system	I-Application
(	O
TMS	O
)	O
is	O
a	O
software	B-Application
application	I-Application
which	O
automates	O
the	O
process	O
of	O
managing	O
a	O
company	O
's	O
financial	O
operations	O
.	O
</s>
<s>
The	O
software	O
includes	O
auditing	O
and	O
local	O
work-process	O
approval	O
,	O
standardizing	O
workflow	B-Operating_System
and	O
collating	O
and	O
integrating	O
financial	O
documents	O
for	O
review	O
.	O
</s>
<s>
With	O
a	O
single	O
local	O
function	O
,	O
TMS	O
technology	O
might	O
rely	O
on	O
a	O
spreadsheet	B-Application
or	O
bank	O
system	O
for	O
bank	O
reporting	O
,	O
financial	O
evaluation	O
and	O
lending	O
management	O
.	O
</s>
<s>
There	O
are	O
two	O
types	O
of	O
the	O
TMS	O
:	O
local	O
and	O
cloud-hosted	B-Architecture
(	O
or	O
cloud-based	B-Architecture
)	O
systems	O
.	O
</s>
<s>
Local	O
systems	O
are	O
installed	O
on	O
a	O
business	O
's	O
home	B-Application
server	I-Application
,	O
and	O
enable	O
maximum	O
control	O
of	O
features	O
and	O
security	B-Protocol
protocols	I-Protocol
.	O
</s>
<s>
Cloud-hosted	B-Architecture
systems	O
are	O
more	O
economical	O
,	O
more	O
serviceable	O
and	O
can	O
be	O
deployed	O
more	O
quickly	O
.	O
</s>
<s>
TMSs	O
are	O
transferring	O
to	O
,	O
and	O
improving	O
,	O
the	O
cloud-based	B-Architecture
system	O
.	O
</s>
<s>
Software	B-Architecture
as	I-Architecture
a	I-Architecture
service	I-Architecture
(	O
SaaS	B-Architecture
,	O
a	O
subscription	O
system	O
)	O
can	O
upgrade	O
more	O
quickly	O
and	O
is	O
becoming	O
more	O
popular	O
.	O
</s>
<s>
The	O
most	O
important	O
part	O
of	O
a	O
cloud-based	B-Architecture
system	O
is	O
data	O
protection	O
,	O
and	O
improved	O
data	O
encryption	O
or	O
databases	O
in	O
a	O
country	O
with	O
tight	O
data	B-General_Concept
security	I-General_Concept
laws	O
is	O
a	O
TMS	O
trend	O
;	O
market	O
consolidation	O
is	O
also	O
a	O
trend	O
,	O
enhancing	O
functionality	O
.	O
</s>
<s>
An	O
increasing	O
number	O
of	O
companies	O
have	O
adopted	O
cloud-based	B-Architecture
systems	O
,	O
which	O
are	O
evolving	O
in	O
features	O
and	O
security	O
.	O
</s>
