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We spoke with Saji, Sales Director of a Cash Management Services organisation in the Kingdom of Saudi Arabia.
Saji's business focuses on developing solutions for businesses. Their cash management services render a full outsourcing model to the KSAs' financial sector. Built up over several years, their manual operational system was dependent on Excel. By its nature, this dependency had created more process steps and a significant amount of duplication. Although their processes were strong with risks reduced by checking and cross balancing procedures, these came with a significant time cost. To increase operational efficiency and adhere to regulatory requirements, they required an automated system.
"In our industry, it's important that our suppliers have done their research. One thing we can be rest assured is that money point does their homework"
What We Knew
Saji's business provide ATM cash processing, branch cash processing, cash cycle monitoring, cash cycle optimization and full reconciliation services. For the company to process greater volumes of cash faster, improve control & information and reduce the number of hours lost, a fully integrated cash management system was required. By computerising, integrating and optimising all the stages in the cash handling process, they could increase capacity and reduce costs together. "We needed a way of offering customers same day accounting and reporting while increasing overall processing capacity."
We implemented the CashMan™ cash management system. By implementing CashMan™ cash management software, they were able to achieve greater visibility and reduced hours spent dealing with customer errors, real-time stock position availability, customer reporting and multi cash centre support.
"We trebled the volume of cash being processed by introducing the cashman™ deposit verification process and integrating our note sorting machines. The amount of queries and errors has reduced dramatically since its introduction."