Every year, financial institutions trust armored car companies to move and manage billions of dollars in cash and other valuables. You can’t trust just anyone with those assets, so finding the right partner for your organization can be a daunting task.
The best armored transportation partners work to be seamless extensions of your institution, ensuring that your needs are met effectively and efficiently. Whether you are on your first hunt for a service partner or dissatisfied with your current provider, there are some key considerations to determine if an armored transportation partner is the right fit for your financial institution.
For a successful partnership, here are eight qualities your armored provider should demonstrate:
1. Full-Service Capabilities
Over the years, armored car companies have morphed from solely providing transportation services to becoming one-stop shops for all cash-management needs. When narrowing your search for an armored partner, do intensive research into the kinds of services each company offers. In addition to pickups and deliveries, can they handle cash vaulting, ATM management, cash logistics and self-service device solutions? Look for a partner that can remove pain across every step of the cash supply-chain, not just during the transportation process.
2. Punctual Pickups and Deliveries
Although challenging in some markets during the pandemic, you should be able to trust that your valuables will arrive on time, every time. How does each armored car company work to maximize efficiency and avoid delays while your cash and assets are in transit? If you have access to testimonials from other clients, read what they have to say about the timeliness of the provider’s services. You deserve a partner who is wholly committed to keeping your operations on track through reliable, punctual pickups and deliveries.
3. Consistent Communication
Your vaults should be inaccessible, but your armored partner shouldn’t be. The financial industry moves quickly, and if you suddenly find yourself in need of ATM maintenance or an emergency cash shipment, you don’t want to spend valuable time tracking down your provider. Ask your prospective partners about their on-call resources. How quickly do they return the calls of their clients? Can you easily get through to real representatives? Your partner should regularly demonstrate their commitment to your institution by staying accountable and available when you need them.
4. Comprehensive Protection
Before you enter into a partnership with an armored car company, make sure they can show you proof of insurance. By being fully insured, with Cash In Transit (CIT) Policy your partner prevents costly losses and minimizes the risk to you, your institution and your valuables. You should only trust a company with comprehensive protection to move or manage your assets. Beyond insurance, talk to each prospective partner about how they keep your cash secure on the road and in their facilities.
5. Experienced Personnel
The job of an armored guard isn’t easy. It requires a dedication and follow-through, the ability to stay calm in stressful circumstances, an unwavering commitment to security and more. How does each armored partner recruit, vet and train their personnel? The guards handling your cash should have passed extensive background checks and demonstrated an impressive track record of success in the cash-in-transit industry before they ever come in contact with your institution.
6. Scalable Solutions
Instead of a one-off service provider, you should be looking for a long-term partner that can meet the changing needs of your business and grow as your institution does. With the right reporting and management solutions, your armored partner makes it simple to scale the operations of your financial institution up or down. Does your provider have both airport-ramp and city-port access in all of the locations they serve? As your institution grows, a substantial asset network with both airport and port access ensures you have the necessary support.
7. State-of-the-Art Technology
Your partner should be equipped with the latest technology to keep you informed and your assets secure. Today’s cash management innovations make it possible for you to stay on top of your assets in transit and your institution’s cash position from anywhere. Determine which of your prospective armored partners have online customer portals and research the tracking capabilities each provides. Not only can these technological advancements create better customer experiences, but they can also allow for greater accountability and more informed decision-making.
8. Extensive Accommodations
In the financial industry, it’s important to have cash-logistics solutions that reflect the unique reality of your business. If an armored car company presents you with a cookie-cutter plan for your institution, keep looking until you find a more accommodating partner with custom solutions to address your specific needs. Your armored transportation partner should be an extension of your company.
As the leading expert in armored transport, Axiom supports financial institutions around the country with a full suite of ATM, cash logistics, cash-vault and cash-transit services. Axiom’s commitment to complete customer satisfaction and reputation for exceptional service allows financial leaders to focus their energy on growing their business.
Get started today by calling 866-761-6712.