Vertex Security Services, a cash-in-transit company based in South Africa, has acquired modules of the Cash Management.iQ software solution: Vault.iQ and Client Portal.iQ. The company operates multiple vaults in the country and holds over 60 contracts with merchants. Using Client Portal.iQ, they can easily request collection or delivery services. Effortlessly, all pertinent data is transmitted to Vault.iQ, ensuring efficient processing by the service operator.
The system allows:
- real-time monitoring and control of cash circulation;
- oversight of service operations
- supervision of operations in the recounting cashier;
- automatic generation of accompanying documentation.
Vertex Security Services specializes in the safe and efficient transportation of cash and valuables. They operate in South Africa and internationally, striving to be the top choice for reliable services.
Vault.iQ – functionality for managing finances in branches, vaults, and cash centers
Vault.iQ monitors cash volumes in vaults and bank branches. The system provides information on currency and denomination-specific money balances at each location and forecasts inflows and outflows. This allows for determining the time of depletion or overflow of cash at the locations.
Vault.iQ enhances the flow and logistical processes in real-time by employing mathematical data analysis.
In 2023, additional modules were developed:
- “Analytics” shows statistical charts between entities;
- “Cash Flow” monitors incoming and outgoing transactions across various categories: Central Bank, commercial banks, commercial clients, bank branches, ATMs, payment kiosks, and deposit machines;
- “ATM Cassettes, ATM Bags” tracks money loading in cassettes and bags by bank staff. It monitors sealing, updates storage balances, and distributes bags based on cash collection orders.
ClientPortal.iQ – functionality for creating requests for pick-up or delivery
Clients receive a tool for automated control of cash collection requests.
The Vault.iQ operator manages orders and ensures they follow the set process. For example, a scheduled order appears in the system. The client prepares the cash before the collector arrives, putting it in a sealed bag. After, the client creates a document with a QR code containing order details. When handing over the bag, the collector scans the QR code with a mobile app, and the data goes to the Vault.iQ for processing, like pre-crediting funds to the client’s account.
Such a process simplifies the work of the CIT service and ensures control over the execution of each cash collection.
Cash Management.iQ has significantly strengthened the cash and valuables control system for Vertex Security Services, a South African cash-in-transit company. By incorporating the modules Vault.iQ and Client Portal.iQ, the company now benefits from monitoring, control over recounting cashier operations, and automated documentation generation. This integrated system optimizes cash circulation, enhances logistics in real time, and ensures seamless communication between clients and the service. With a focus on security and efficiency, Vertex Security Services aims to continue its growth and become a trusted leader in the industry.
