Cash Management

Of course I know you are thinking: who still uses cash in this era?

You will be surprised at the amount of cash in circulation. Check out this article from the Business Daily: Cash outside banking system hits Sh231bn and another disputing the use of mobile money in Mombasa, Kenya.

Often times businesses struggle to deal with their cash sales as to how the funds will get to the bank. This is especially where security systems are not elaborate.

As such banks and cash management vendors have come up with smart solutions that not only secure the business’ sales but also give value on a real time (or near real-time) basis. These solutions come in different shapes and sizes- literally- and have evoked as many variations of application as are the businesses targeted by banks.

It is worth noting that the key benefits of the solution(s) as well put by our CIT partner SGA Security include

  1. Real time credits into customers’ nominated bank accounts
  2. Guaranteed security for all cash deposits as all funds are covered by insurance
  3. Reduced cost of cash in transit runs
  4. Reduced cost of over the counter cash deposits
  5. Reduced risk associated with cash handling at customer premises
  6. Double saving as the CDM also acts as the customer’s vault
  7. Dual control access of the CDM averting possible losses
  8. Use of stacked notes (bag) technology which increases the capacity of the CDM, reduces note jams and downtimes.
  9. Ability to integrate access control and intruder alarm system to the CDM
  10. Control room services that monitor CDM operations, content levels, online status, opening and closure of the machine’s vault among others
  11. Record- keeping: Available printed receipts, end of day reports and web-portal journals to enable easy reconciliation
  12. Tailor – made to meet customer needs during integration. This may be to merchant’s POS system, MPESA Float Purchase module for MPESA agents and Bank Account Validation for multiple account holders.
  13. End to end Solution: SGA cash management services including CDM supply, integration and management, Vaulting, cash processing to CBK standards and regional cash conveyance (CIT).
  14. Cost Effectiveness: The CDM solution has increases efficiency in the branch, reduces costs associated with teller services
  15. Customer Experience: The CDM solution provides a simple, easy to use, multi-lingual self-service model of operation for clients who only wish to deposit their bulk collections at any time.

My take, get your machine as soon as possible and rid yourself of the headache and risks associated with ‘socks’ banking.

Having deployed over at over 85 business locations, we can help you on your installation.

Our cash management partners

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