For financial institutions, increasing the visibility of your cash flow while locking down your security may appear to be contradictory goals. However, with the support of today’s cash-in-transit innovations, your financial institution can have it all.
The COVID-19 pandemic tested the risk resilience of financial institutions across the country and the world, forcing industry leaders to take steps to strengthen their infrastructure. Cash flow reports have needed to be more accessible, more frequent and more detailed, and new Software-as-a-Service (SaaS) tools have made it easier than ever for financial institutions to keep track of the cash supply chain.
If the transparency and efficiency of your cash-logistics processes pose recurring challenges to your institution, your tracking capabilities may be the problem. Here’s what you need to know about secure asset tracking and how an armored partner can improve your cash-in-transit activities.
Why cash management providers are going paperless
The cash-in-transit industry changes quickly and often. The history of cash in transit and armored car service stretches all the way back to the 1400s, and with every passing century, armored transport partners have introduced revolutionary new ways to better meet their clients’ needs.
Though paper-based reports were once the standard for most financial documents, today they can pose problems to the efficiency and transparency of your institution. Instead, armored transport partners have turned to SaaS tools to stay ahead of the trends and offer the visibility and flexibility that financial institutions need.
Cash-in-transit partners offer integrated software solutions for increased accountability, allowing financial institutions to check on their assets at any time from any location. The tracking capabilities of your armored transport partner can save your institution valuable time and money while driving efficiencies across your organization.
How a comprehensive software solution drives efficiencies
Most armored partners use at least two kinds of tracking software: one to follow the transportation of liability from point of receipt to final delivery, and another to track cash room activities. Both systems can bring you peace of mind by generating real-time tracking, complete audit trails and more.
Axiom uses software from NamSys Inc. Their applications are among the most popular software solutions for cash logistics partners. Armored transport route personnel use NamSys applications like Cirreon to record all liability transfers and changes of custody when they are moving assets, allowing clients to easily follow along with their valuables. These software applications can also increase the efficiency of deliveries and pickups by mapping out the shortest, safest routes to the desired destinations and enabling easy communication between all members of the team.
Meanwhile, self-service interfaces such as NamSys’s Currency Controller can track cash and coin verification and order fulfillment, as well as deliver detailed reports of financial institutions’ inventories. Through this software, armored transport partners can give financial institutions access to a convenient web portal with extensive reporting capabilities. When you put Cirreon and Currency Controller together, it gives customers the ability to “see” when their orders are prepared, delivered and when their deposits have been processed.
With the right armored transport partner and the right technology, financial institutions experience fewer human errors, more visibility, increased productivity and streamlined workflows. This state-of-the-art software allows customer-focused armored partners to go the extra mile to make cash logistics as painless as possible for financial institutions of all sizes.
What to consider when selecting an armored partner
You can learn a lot about an armored car company based on the asset tracking they provide their clients. When choosing your partner, take your time to research the tracking and reporting capabilities of each company. How do they deliver reports? What kind of information do they collect and share about your pickups, deliveries and other transactions? Can they support efficient, large-scale cash processing? With integrated real-time asset tracking and reporting in the cash-logistics processes, an armored car company can improve the security and success of your financial institution.
Axiom Armored Transport is committed to delivering painless partnerships to financial institutions across the country. With Axiom’s cutting-edge technology, white-glove service and customizable solutions, financial institutions receive their valuables on time, every time.
Get started today by connecting with an Axiom expert at 866-761-6712.