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.
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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