Optimization of operational processes in the latest version of Cash Management.iQ 1.08Thursday, October 18, 2018
The service market of banking and retail does not stand still. In order for a software solution provider to remain relevant, active measures should be taken to constantly improve existing products. The current update of Cash Management version 1.08 includes functions that were defined by cash management market requirements.
BS/2, a globally renowned Lithuanian company is constantly working on perfecting its cash flow managing software solution “Cash Management”.
Most functions facilitate routine tasks of cash management operators, enhancing the possibilities of the user and improving on the quality of emergency measures taken.
One of the key innovations concerns the notification mechanism. Two additional notification types, informing the system manager about reaching cash flow limits were added.
- Lower limit is a function of notifying the system operator about reaching a certain cash storage limit in a specific ATM.
- Lower cassette limit is a notification that informs the operator about the fact that the amount of cash in a single ATM cassette has been reached.
Emergency notification feature implies sending incident reports directly onto the operator’s mobile phone or e-mail. This allows the cash flow manager to react without hesitation and take the necessary measures to resolve the issue at the cash flow point. Prompt decision making enhances cash availability of each device, which in its turn positively impacts client loyalty.
Outer system integration services
A noteworthy enhancement of the Cash Management.iQ1.08 has been made in regards to its outer system integration possibilities. Two new services added are:
- The Web-service of prognosis transferring – as the name implies, the service allows to compare cash reception, delivery and loading predictions with actual data of a particular unit. Synchronization of such kind allows for quick and objective assessment of the quality of cash flow managers’ work by detecting any discrepancies between predictions and factual data.
- The Web-service of automatic limit control allows to coordinate the operations cash flow managers and bank employees who regulate financial operation within the bank CBS. The service strengthens the control level of cash flow on the stages of pre-collection and CIT transfer.
In addition to the updates affecting cash flow operations directly, the latest Cash Management.iQ allows for better workflow analytics. It has now been made possible to detect amounts of unused cash, or to track the demand for cash demand throughout the day. The information is presented as a convenient graph allowing for quick, easy, and objective evaluation.
Some visual features include:
- A table of ATM segmentation based on the “CIT operation period” criterion.
- A bar chart distributing the number of CIT operations in reference to the percentage of cash being returned
- A line graph depicting cash withdrawal distribution throughout the day for a single device.
Upper left: ATM segmentation based on CIT operation periods; Upper right: chart of return distribution; Below: Daily withdrawal statistics
Cash Management.iQ - is a software solution belonging to .iQ product family used by banking institutions and major retailers to automate and optimize the processes related with cash flow at all cash deposit / withdrawal points. This solution allows maintaining optimal amounts of cash in the whole network of ATMs, ATSs, vaults and bank branches.
More information about the Cash Management.iQ system can be found on the product page or by contacting our specialists who will be happy to advise you on the application of the solution within the current infrastructure of your organization.