ATM Cash Forecasting
Optimal planning and distribution of cash is based on calculating the demand for cash at each service point. There are several bank cash flow forecasting models, most of which are unknown for the users. Forecasting tools are crucial because it helps to ensure the correctness of the forecast, which in turn has a cost-saving effect of hundreds of thousands of dollars annually for any cash supply chain.
Traditional cash analysis tools may have limited exertion due to several reasons. Firstly, because of the large amount of data, which complicates the forecast. Secondly, due to the different nature of trends and statistical patterns. To put it straightforwardly, cash flow management and forecasting for ATMs, bank branches, cash vaults, and other cash points is significantly more difficult than simply calculating the average demand at each point of service. Therefore, we offer comprehensive prediction tools based on neural networks and machine learning to calculate the demand for cash at a specific location. And all of it is included in our ATM cash management software.
Points of Optimization
Levan Bukhaidze
Deputy Head of Retail Business Management Department, Basis Bank, Georgia
Irakli Lomidze
Head of Operational Support Department at TBC Bank (Georgia)
George Makatsaria
Head of Treasury Department at BasisBank (Georgia)
During the first two months of using CashPoint Monitoring.iQ, we were able to reach 25% of savings on rent of the cash. Besides, the solution allowed us to save internal resources (first of all, staff). In order to monitor and analyze cash supply chain using the Cash Management.iQ solution, one cash professional needs to work only for two hours a day.
The bank receives information about cash balances at ATMs from the processing center. The frequency of data transmission can vary, but this information is not enough for the optimal cash distribution to ATMs and CIT planning. For these purposes, TBC Bank uses Cash Management.iQ solution.
Cash Management.iQ software solution provides us the information on cash balances in ATM’s in real time, which allows us to more accurately plan the time of cash collection and cash optimal amount by ATM’s, as well as to reduce logistics costs.
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