CIT (Cash-in-Transit) Management -

CIT (Cash-in-Transit) Management

Transportation of cash and valuables is strictly regulated from different sides. Cash-in-transit companies and other infrastructures offering CIT services should meet different legislations, requirements of the financial regulator, internal procedures of the bank, or an independent service provider can set their own rules.

In each country, legislation and various regulations may impose restrictions. The use of firearms, vehicle type, minimum crew members, and the use of a variety of safety equipment can be regulated.

The main operational tasks of the cash collection service

1. Customer relationship management

  • Administration of customer data and collection objects
  • Automated document flow for cash replenishment in ATM (management of contracts and SLA, creation of accompanying papers)
  • Automation and control of invoicing and payment for services
  • Centralization of processing applications for the transportation of valuables 

2.Route management for Cash-in-Transit (CIT) teams

  • Generation of optimal routes and transportation schedules based on various regulations
  • The ability to quickly adjust routes for effective ATM cash replenishment
  • Route optimization with taking into account the availability of resources, transport, insurance limits, and other parameters

3. Resource management services

  • Generation and distribution of squads along routes
  • Inventory management (weapons, bags, cassettes, and other items)
  • Accounting for transport depreciation (armored vehicles, armored cars, etc.) and consumption of fuels and lubricants

4. Planning and order management

  • Generation of a paper or electronic route sheet for a collection brigade
  • Real-time tracking of ATM replenishment order progress (displaying the route via GPS or scanning QR codes upon delivery and acceptance of valuables)
  • Real-time alarms

5. Analytical reporting

  • Analysis of profitability by customers, regions, and services
  • Contractual Compliance Reports (SLA)
  • Quality assessment of the inventory of the collection service
  • Assessment of the workload of cash collection service employees

Manage performance of your cash logistics services

Effective replenishment of Automated Teller Machines (ATMs) and other cash points is not an easy work. Therefore, specialized software is needed to solve this problem. The problems faced by cash collection services are required to solve with an individual and comprehensive approach. Taking into account the organization type and the range of services provided. Process automation and increasing the level of security is provided by a set of modern software and hardware.

Cash management systems can cover most of the operational tasks of the collection service. And helps to increase the efficiency and security level of daily processes.

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Cash Management.iQ modules

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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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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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

Head of Quality Control, Administration and Monitoring Department at VTB Bank (Georgia)

Gabil Jafarov

Head of ATM Operations Division at Kapital Bank (Azerbaijan)

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.  

A brand new moment for us was the opportunity to solve the main tasks of cash distribution for ATMs, payment kiosks, bank branches, and other facilities, and all this is possible within the framework of the system. The implementation of Cash Management.iQ helped to minimize downtime for self-service devices and improve the efficiency of cash planning and replenishment.

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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