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Cash Management.iQ Insights on the Strategic Session in Vilnius


The strategic session is an annual event for employees of the Penki Kontinentai Group, including BS/2, ASHBURN International, and PKKC (Penkių kontinentų komunikacijų centras). In January 2024, representatives from the headquarters in Lithuania, as well as key members from BS/2 subsidiaries in Uzbekistan, Kazakhstan, Kyrgyzstan, Azerbaijan, Georgia, Latvia, and Estonia, participated in the forum. The session was organized to enhance the audience’s understanding of BS/2 software solutions for successful market expansion.

Cash Management.iQ software product handles financial management tasks. Banks, CIT companies, and retail businesses can monitor cash levels at deposit and withdrawal points, forecast demand, plan, and distribute cash efficiently with the solution.

Financial organizations in the Caucasus, Central Asia, and African countries utilize Cash Management.iQ. Currently, over 10 000 ATMs and 4 000 kiosks are connected to this software.

During the strategic session in Vilnius, the Cash Management.iQ team shared insights about the product. They provided a detailed software solution overview and outlined plans for 2024.

Cash Management.iQ has a rich legacy. The system was implemented in 2013. At the same time, the platform boasts modern architecture and can be customized to meet individual customer requests.

Modularity is one of the main advantages of the software product. Modules can be implemented and maintained independently by dividing them into separate components.

In 2023, the Vault.iQ system was enhanced with the “Analysis” and the “Cash Flow” modules. With this software, cash flows can be controlled meticulously to the smallest details and gaps identified at each stage as they arise.

Kirill Degtyarenko, Cash Management.iQ Product Owner at BS/2:

“We announced to colleagues an upcoming module for cash centers that will be developed in 2024. Functionality facilitates cashier work transparency. Each employee becomes a participant in the system, where they have a personal identification number and balance. This new module allows users to track and monitor each banknote from its entry into the cash center until its placement in the vault. Many cash centers still use manual labor, but with this software, they can reduce it significantly”.

Cash Management.iQ can integrate with cash sorting equipment. It is possible to see how much cash one cashier counts in a day, and on what device. With a new module for cash centers, various stages of cash-handling business processes can be covered, and money movement will be more transparent.

Nazrin Aliyeva, Software Sales Manager at BS/2:

“The Cash Management.iQ software product is suitable for African countries with complex cash management and accounting problems. One of the CIT companies from Nigeria contacted us in 2023, saying its operations had decreased by 50%. This prompted the Central Bank of Nigeria to accuse local financial institutions of hoarding. Simultaneously, banks refer to independent currency points. To improve cash forecasting and avoid ATM downtime, we offered our solution to the potential partner. Currently, we are in active negotiations, planning a visit and a presentation of Cash Management.iQ to local banks. We have worked with customers from Africa before. In 2023, we partnered with Vertex Security Services from South Africa. Thus, the company acquired the Vault.iQ and Client Portal.iQ modules of Cash Management.iQ.”

Adel Minbashi, Head of Business Process Management Department at BS/2:

“The functionality of Cash Management.iQ suits all banks and financial institutions. We are not dependent on the scale and infrastructure of our partners. No matter how many cash centers there are at a bank, there is always a lot of cash involved. Cash-in-transit companies that provide outsourcing services to banks will also benefit from this software platform”.

Cash Management.iQ, as well as other BS/2 software solutions, is compatible with DS Center.iQ. The decision support system was introduced in 2023.

This system allows data extraction from BS/2 software as well as partner solutions. The data are processed and transformed into a convenient format for analysis. From the results, the business can get a complete picture of its performance and status.

Cash Management.iQ software enables financial institution employees to get rid of paper journals, Excel spreadsheets, and email data exchange, saving time and resources. The traditional process of accounting and managing cash can take several weeks. These operations can be accomplished in seconds with Cash Management.iQ.

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