Cash Management.iQ is an innovative soﬅware solution for online cash monitoring a nd forecasting for any cash point, including:
Cash Management.iQ means:
- Cash centers and vaults;
- Bank branches;
- Retail outlets and enterprises;
- ATMs and payment kiosks;
- Autоmated teller safes and deposit machines;
- Other cash points.
Cash Management.iQ helps to ensure:
- Automating of procedures related to cash orders and cash point replenishment.
- Cash needs forecasting based on historical data.
- Optimizing Cash-in-Transit visit numbers and associated service costs.
- Increasing the level of security and control over CIT services.
- Ensuring the availability of selected currencies and denominations for all cash points.
- Increasing self-service terminal availability and reducing the downtime.
The solution fulfills all needs of credit and finance institutions relating to cash management including collection and distribution processes. At the same time, it can also help facilitate the logistics of transferring bills, coins, and other values between bank branches and vaults.
Based upon statistical data taken from each single cashpoint, the neuron network determines the minimal cost of cash distribution by combining the optimal amounts to be loaded and optimal replenishment period. This provides the possibility to minimize the costs and to improve the processes related with cash flow.
The soﬅware solution Cash Management.iQ consists of 5 modules, each covering a separate type of cash management operational processes.
The main system module, ensuring cash flow monitoring at each cash point. Its Cash Forecasting mechanism helps estimate cash demand, while CIT Simulator help to improve cash replenishment planning based on «what-if» logic.
- Real-time control of cash balance at each cashpoint
- Real-time control of cash balance within the entire network with detail on currencies and denominations
CIT activities planning module automates operational and documentation processing for the whole replenishment procedure from cash order till its execution.
- Planning and registration of replenishment orders from self-service devices and bank branche
- Setting limits on cash amounts
The module helps establish an effective cash center operation environment to obtain cash handling excellence.
- Control over cash in vaults in the beginning and at the end of each working day
- Monitoring of cash in vaults
- Planning and registration of orders for replenishment
The module of CIT management can be to form Cash-in-Transit teams, assign tasks, set the schedule and calculate all associated expenses (labor cost, fuel, transport depreciation), for all planned and emergency operations.
- Formation and control of the collectors’ teams
- Formation and optimization of collectors’ route sheets
- Control of cash delivery to destination (bank vaults, bank branches, self-service terminals)
- Collection procedure control
The module generates complex reports of the system workflow, ach ieving key performance indicators and other aspects of cash and valuables logistics.
Depending on the business process and the company’s needs the full package of Cash Management.iQ as well as its separate modules and their combinations can be and integrated.
Cash Management.iQ New Video Presentation
Functions and features
CASH POINT MONITORING
Obtain information about cash balance and cash demand in real time by currencies and denominations. Monitoring parameters are fully customizable for all types of cash points.
CASH DEMAND FORECASTING
Cash demand is calculated based on historic data for any cash p oint (object) or the entire cash-demanding infrastructure. The users of the syst em can define specific time periods, such as paydays, days of cash collection, big public events and other anomalies to ensure forecast accuracy.
The specialized CIT simulation tool improves cash order efficiency. Analyze cash orders dealer productivity by comparing ideal and factual data. Improve the accuracy of expense calculation for each object.
CASH ORDER AUTOMATION
Initiate, coordinate, and track the process of cash and valuabl es transportation using a single user interface. The proactive notification system provides the operator with detailed order execution updates in real time.
Build CIT teams with available personnel, assign individual tas ks and generate operation route sheets. Set of specialized CIT equipment (casse ttes, bags, etc) may be assigned to any individual operation. Other functions in clude security seals management, generating reports and other documentation, p lus, checking work flow status via notifications.
Form electronic journals and compare cash flow statistics of diff erent cash points. Accounting of night depository, overages and shortages when receiving cash at the cash center. Special accounting of worn-out, fake and out-of-cassette notes is also available.
Report generation of cash replenishment, withdrawal, deposit, current and leﬅ cash in all currencies and denominations for every cash point, cash point group and entire networks. Analyze overall cash processing effectiveness using precise data.
BROAD INTEGRATION CAPABILITIES
Management.iQ may be integrated with core banking and other IT systems to get actual and most precise data. It can al so work with other .iQ solutions to ensure remote cash capture, automated currency exchange and payments transactions.
Functions and opportunities
APPLYING THE SOLUTION
The specialized solution Cash Management.iQ can be used by different commercial and state-owned organizations to build an effective IT environment for cash management.
BANKS AND OTHER FINANCIAL INSTITUTIONS
Using a modern cash management system, financial institutions ca n ensure a high level of cash availability at all cash points in the zone of responsibility. Meanwhile, expenses are reduced to a minimum, including interba nk cash rent fee and insurance costs.
At the same time, the system helps establish effective communica tion between the financial organization, central bank vault, cash centers of other banks and, essentially, their clients through retail outlets and enterprises.
Independent CIT services gain an effective tool for management o f cash-related processes, workforce and assets within a self-learning system o f cash demand forecasting, enhanced with CIT operation planning functionality.
Optimizing CIT operations ensures higher cash availability, saves resources and increases the effectiveness of operational processes. This allow s the company better manage risks associated with business development.
LARGE AND MEDIUM RETAIL CHAINS
Retail representatives may also benefit from the innovative cash management solution. By utilizing their current cash resources better they reduce the need for additional resources provided by the bank. This allows dimi nishing cash rent fee and insurance costs.
Meanwhile, retail outlets and service providers gain access to a specialized Cash Management.iQ user interface, where merchant is provided with option to order required currencies and denominations.
FOREIGN CURRENCY ACCOUNTING
The Cash Management.iQ system is integrable with the ATM currency exchange solution FCX.iQ. It allows accounting the number of currency exchange operations and the amounts of foreign cash-in-use, within the cash management system. Other functions include calculating the profi tability of currency exchange, to recognize the best cash points to provide this service.
AUTOMATED REMOTE CASH COLLECTION
The solution can be used with soﬅware products for ATS (SmartSa fe.iQ) or ADMs (Cash-In-Box.iQ) management. Therefore, Cash Management.iQ can be used to account automated cash collection in retail. It allows tracking the amounts of available cash for retailer and plan CIT services in an optimiz ed way. Such integration also allows estimating the cash-in-use, allowing ba nks to better manage the risks associated with lack of cash.
CASH AVAILABILITY REPORTING
Integrating Cash Management.iQ with the service management system Service Desk.iQ allows accounting incidents associated with cash unavailabilit y at a self-service terminal network. Such issues may occur for a numb er of reasons, including errors of service personnel or CIT staff. Calculated l osses analysis experienced by the bank allows drawing up a reclamation to the service provider and demand compensation.
TRACKING OF MAINTENANCE AND CIT ACTIVITIES
SST access control functionality provides enhanced possibilitie s of tracking personnel presence at cash point. It includes access control for self-service terminals and restricted zones of bank branches or vaults. Such level of transparency significantly improves security of cash replenishment and cash collection operations, at the same time facilitating the resolu tion of conflicts associated with equipment maintenance. Personnel authentication can be performed via a remote electronic lock platform or a face recognition solution.
Deploying and utilizing the Cash Managment .iQ system allows minimizing the costs of:
- CIT services due to optimized planning and reducing the number of unplanned operations.
- Cash replenishment due to optimized planning of cash resources and reducing of unused cash in ATMs, bank branches and vaults.
Cash Management.iQ working progress
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