Cash Cycle Management for banks and retail companies
Optimization of the cash cycle across all cash points
Twenty years after the introduction of cashless payment systems, cash transactions are still predominant in most countries. But the handling of cash is costly. In banking this is largely due to the elaborate procedure involved in the supply and disposal of cash at branches and in machines, whereas in retailing it is mainly due to the time-consuming handling processes at the point of sale. In food retailing, for example, the total cost of handling cash for a single checkout amounts to about 6,000 to 8,000 euros a year – roughly three quarters of the total cost of ownership of a POS system.
With its Cash Cycle Management portfolio, Wincor Nixdorf is playing a pioneering role in the optimization of cash handling in these two industries. The focus is on the entire process chain – from head office to stores, the point of sale and crediting to the retail company's account, or from head office to branches and automated teller machines. Wincor Nixdorf's full portfolio covers innovative hardware and software, IT services to flank operations and consulting services to develop custom-optimized solutions. In addition, banks and retailers can outsource their entire cash processes to Wincor Nixdorf so that they can focus on their core business.
Hardware. Using smart deposit, dispensing and recycling systems it is possible to automate the entire cash handling process and to shorten the cash cycle from the very beginning. Wincor Nixdorf has a wide range of innovative machines for this purpose that have been optimized in terms of ergonomics and security specifically for banks and retail companies.
Software. Wincor Nixdorf's software solutions are based on mathematical optimization models. They enable the replenishment intervals of automated teller machines or safes to be identified exactly. The software analyzes the entire cash cycle, gives an overview of the complete cash supply process chain and optimizes cash levels at one or more locations, cross all automated teller machines, recycling systems, POS systems and local safes. For example, cash points or branches with surplus cash can supply other cash points. This reduces returns of unused cash and the cost of transporting and preparing cash. The cash circulates optimally within a defined network. And the total cost of cash handling is cut considerably.
Consulting. It is not possible to simply put a standard solution for cash cycle management automation over custom business structures. In particular, there is no place for a standard solution that concentrates on machines and their functions without adequately taking overall performance into consideration. Wincor Nixdorf meets this challenge with a complete cash cycle management approach that develops the most effective solution for the specific organization, using special consulting and support modules ranging from analysis of structures, processes and profitability to piloting.
- Services. The portfolio includes machine installation and maintenance service. Wincor Nixdorf's specialists are also ready to help when it comes to topics such as remote monitoring of systems and optimal control of cash-in-transit operators. Finally, banks and retailers have the opportunity to outsource both hardware and all process support to Wincor Nixdorf.
