In fiscal 2009/2010, we will introduce a comprehensive package of measures across the Group. The aim is to channel our capital expenditure in Research and Development (R&D) even more efficiently and to use the results of that investment more effectively. By way of example, the measures and projects making up the ProFuture program aim to accelerate the development of software and hardware systems and components.
In order to strengthen our capability as an IT service provider, and reinforce our position as a leading innovator in terms of IT solutions for the branch operations of retail banks and retailers, we intend to maintain a high level of capital spending on R&D.
Once again, our main development focus will lie on:
1. software as the key to optimizing process chains in branch operations;
2. the development of convergent base technologies for retail banking and the retail industry;
3. improvements to the serviceability (Glossary) of our hardware and software.
To mark our own Wincor World trade fair in January 2010, we will be presenting the interim results of several years of intensive development work. We will be the first provider to offer a comprehensive solution for cash handling in retail banks and retail companies (cash cycle management (Glossary) solutions). Cash handling generates substantial costs in both industries as a result of the strict demands on accuracy and security (compliance with auditing standards, risk management, anti-theft security, etc.). Furthermore, both industries play an important role in all national economies as key institutional elements of the cash cycle, since they both accept cash and place it in circulation. Cash handling requirements are generally met in the form of time-consuming and usually manual procedures. This means there is considerable potential for streamlining through the use of automated, IT-based systems, and Wincor Nixdorf intends to exploit that potential to the full. The process chain ranges from cash points (Glossary) and back/cash offices through to cash centers run either by the companies themselves or by secure transport providers.
Our competitive edge lies in our familiarity with the processes in both industries. Thus, drawing on our capacity for innovation, we are in a position to offer forward-looking solutions in the area of cash handling for both industries, and for other activities at the interface between them.
The solution we will be presenting at the Wincor World 2010 trade fair completely restructures the process of cash handling, and in doing so, offers its users two outstanding benefits: maximum compliance with auditing standards at every stage and a permanent reduction in costs. The solution makes use of innovative hardware and software technologies as well as new consulting (Glossary) and support services. For the first time, banks and retailers will be able to use a common technology platform for automated cash handling. This will also generate the potential for new partnerships and synergies between the two industries.
