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.
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.
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.
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.
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.
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.
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.
Deputy Head of Retail Business Management Department, Basis Bank, Georgia
Head of Operational Support Department at TBC Bank (Georgia)
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.
