Efficient and Automated Vault Cash Management

Excess stocks of cash in cash centers and bank vaults are one of the main expenses of financial organizations and collection services in terms of providing cash to the entire infrastructure. On the other hand, an extreme decrease in cash volumes leads to risks of a shortage of banknotes and coins, which can result in negative customer service.

Maintaining an optimal balance of cash reserves in central cash offices is one of the most important tasks of cash circulation management in a commercial bank. Ensuring the operation of the cash centers includes a whole set of organizational processes, which are easier to implement and control in a specialized IT environment.

Main operational tasks of the Cash Center

  • Automation of receiving, processing, counting, sorting, packing, and dispensing cash and other valuables, as well as ensuring the document flow
  • Determining optimal level of cash balances for service points and cash centers
  • Elimination of the cash shortage for the operational needs of the cash center
  • Reducing the number of visits by cash collection services and optimizing ATM replenishment processes
  • Monitoring the order progress for the cash transportation to the end-points
  • Centralization of process management and optimization of human resources to fulfill the tasks of cash circulation in the cash center
  • Report generation on completed operations
  • Collection and archiving of historical data for all completed operations (beginning of the day, end of the day, cash orders), confirmed orders, current balances, the amount of cash planned to be removed or replenished to the vault
  • Accounting for old and counterfeit banknotes
  • Data processing on the cash arrival in the night depository

Cornerstone of Cash Center automation

The software for optimizing the operation of cash centers and bank vaults can be a separate software product or a module of an integrated cash management system. In the second case, the activities of the cash center can be synchronized with other departments (cash-in-transit services, specialists for monitoring and maintenance of ATMs and other devices) to increase the efficiency of the cash circulation infrastructure.

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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.