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ATM Cash Management Process & Order Automation

An excess amount of cash circulating in the financial institutions leads to a noticeable increase in the cash handling costs: transporting, processing, storing. Thus, financial institutions should utilize a cash management system to optimize cash circulation. Besides forecasting cash demand, a key aspect of improving the cash circulation is the optimal planning of cash logistics based on a variety of factors.

Key factors for planning cash distribution

1. Special factors and limitations

  • Upper and lower limits of cash amounts during holidays, payday and other special periods
  • Staff workload during specific periods

 

2. Physical factors and limitations

  • Time availability of objects
  • Required time for order execution for cash collection and replenishment (SLA)
  • Availability of human, and technical resources to fulfill the tasks of the cash circulation
  • Availability of storage points of cash and special vehicles;
  • Availability of cash points that must be collected at the same time.

 

3. Financial factors and constraints

  • Insurance cost for storage and transportation;
  • CIT service cost;
  • Cash rent cost;
  • Banking fees for cash deposits;
  • Delay cost during cash transfer to a bank account;
  • Fees and prices for validation, recalculation, and sorting of cash;

 

4. Logical factors and limitations

  • Exclusion of cross deliveries and cash in the same denominations and amounts for one point;
  • Geographic location of points, taking into account additional factors (road traffic and actual travel time)
  • Supported currencies, denominations, and coins at a specific point

 

5. Regulatory restrictions

  • Legislation related to cash activities;
  • Requirements and recommendations of the national regulator;
  • Internal regulations of cash settlement centers and collection services.

 

6. Unscheduled events

  • Repeated and unscheduled cash collection in case of discrepancies and other unforeseen situations
  • Various types of incidents (breakdown of self-service devices, special vehicles, etc.).

 

Improve cash planning to pursue the cost-efficiency of cash supply

In order to optimize the processes and financial costs in the cash flow and cash automation services, a complex approach is required to take into account different factors. Our specialized ATM cash management software for banks can help financial institutions to manage cash, improve the cash supply chain, and monitor the current status in real-time. In order to satisfy cash demand, it is required to evaluate and take into account all possible combinations of various factors.

At the same time, the complexity of this process increases with the number of objects in the infrastructure. Luckily, our cash management solution supports, not only ATMs, but also other types of end-points. Such as: ATMs and other self-service devices, bank branches and cash settlement centers, as well as connected commercial clients (trade and service enterprises).

This task is almost impossible without specialized cash management software, adapted to the needs and processes of a particular organization.

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Cash Management.iQ modules

CashPoint Analytics.iQ – cash reporting module

CashPoint Analytics.iQ is a module of the Cash Management.iQ, which is responsible for generating, displaying, and exporting reports from each point of service as well as achieving key performance indicators and other aspects of integrated cash logistics.

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CashPoint Monitoring.iQ – real–time cash monitoring

CashPoint Monitoring.iQ is the main module of the Cash Management.iQ system, which provides the functionality of monitoring the cash status and cash demand forecasting. The estimation of cash need is based on accumulated historical data and CIT simulation tools.

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CIT.iQ – management of Cash-in-Transit operations

CIT.iQ provides management of the cash collection service for the CIT (cash-in-transit) staff, assignment of tasks, selection of routes, and accounting of all costs associated with operational activities (labor costs of employees, fuels and lubricants, depreciation of transport) for planned and emergency trips.

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Vault.iQ – cash center management

Vault.iQ is a separate module of the Cash Management.iQ platform. It allows financial institutions to monitor all cash inflows and outflows in the connected cash center. In addition, Our vault cash management software (Vault.iQ) ensures a two-way cash flows between central banks and service end-points.

Cash flow management tools also allow organizations to get accurate forecasts, for further cash automation. Our software ensures the effectiveness and transparency of cash center operations.

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Cash Order.iQ – cash service handling tools

CashOrder.iQ planning module helps to determine the optimal number of banknotes (currencies and denominations) for each self-service device. Besides the calculation of the optimal number of banknotes, it helps to calculate the frequency of ATM cash replenishment processes, place orders for the transportation of cash and other valuables (securities, precious metals, etc.) either in manual to automatic mode.

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Points of Optimization

Reducing the number of CIT visits

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Cost of Cash Optimization with Cash Forecasting Software

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ATM Cash Availability with Cash Monitoring System

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Excellence of Cash Supply Chain Management

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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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