Security risk, time waster or cost driver : cash often has bad reputation among retailers, banks and saving banks as well as cash-in-transit companies. However, non-cash alternatives have not yet reached the stage where they can easily overtake coins and banknotes from the throne of payment methods. Companies and financial institutions should therefore be looking for modern solutions in order to control cash management efficiently and save costs and time. They will find what they are looking for in a true cash cycle all-rounder : the ICC App.
Status quo in cash management : a complex, manual process
The current cash management process can be divided into two main aspects : they are complex and mainly manual. This means that data is usually not available in digital form. Operational key figures such as turnover, cash change requirements or cash costs must therefore be continuously adjusted by those responsible themselves. At the same time, transactions in accounting must be monitored and the causes of differences identified at considerable expense. Even the proper allocation of these figures can be a challenge.
It is therefore not surprising that processes nowadays primarily take up costs and time, which drives companies to the limits of their capacity. In addition, the cash cycle involves different stages and therefore different players. Controlling and monitoring them consistently, keeping errors at a low level, and avoiding duplicates are further hurdles. Modern software solutions offer a remedy.
Interactive Cash Control – Digitizing processes
Bringing the cash cycle into the modern era quickly and efficiently? It’s possible! We at ALVARA | Digital Solutions have taken the growing challenges as basis for developing practical solutions. The result: our ICC (Interactive Cash Control) platform, which controls and documents cash management between all players, from retailers to financial institutions to cash-in-transit companies, in a target-oriented manner.
With the ICC platform, you can bring smart and innovative solutions for your employees into your company. With it, processes can be completely digitized, making filing documents a thing of the past. The faster processing saves organizations valuable time. This puts the focus back on the team’s core tasks. In addition, errors can be reduced through digital capture and scanning, for example of barcodes.
One software for all – also available on mobile devices!
Access for ICC users is not limited to a classical web application. Banks and savings banks as well as retailers can also access all functions on the move – with the ICC app. Is your retail business in the process of converting to a PC-free back office? Do your employees need access to data while on the move or do you want to keep them informed with a push function? Then the ICC app is always within reach. You don’t have to buy new devices for it, as the software solution is iOS and Android compatible. Besides that, the app is compatible with commercially available MDE devices.
However, one question still remains: How can one platform cover the tasks of such three different players? Our answer: By being flexible and adaptable to the customer´s needs. We have created the ICC modules for our software solution. Want to see some examples?
Electronic change ordering
You can order change quickly and conveniently through ICC – whether as a retailer or a financial institution:
- – including central evaluation and validation of correct delivery days,
- – immediate display of the weight of the delivery
- – flexible limits on available denominations and package sizes as well as upper and lower limits in terms of value and weight
- – Optional: dual control principle or automatic generation of proposals by the system.
Our digital receipt offers an efficient, legally secure and, most of all, environmentally friendly alternative at the point of sale. It eliminates the environmentally harmful thermal printing. Digital receipts can also be retrieved at any time by the branch via the platform and app for the head office. If a signature is required, this can be done digitally on the device of the cash-in-transit company.
ICC also provides you with an updated and clear view of your organization’s most important key performance indicators. Without additional expense, you can see visually appealing developments or recognize risks in a single view – and can react promptly. You are informed about open payments, differences and much more, always being up-to-date.
ICC App and the retail industry
Do you want to standardize store processes, digitize documents and information, and facilitate access for employees? Then the ICC app can help you as a retailer. Conveniently control all processes with the cash-in-transit companies, from driver legitimation and cash collection to ordering change. If employees are responsible for several stores, they can also use the ICC app to remain mobile at all times.
Great reasons for the ICC app in Retail:
- – All cash processes in one app – intuitive to use
- – Available for iOS and Android
- – Increase employee satisfaction
- – Single sign-on for the simplest user management
- – Flexible access authorizations
ICC App and CIT’s
The ICC app opens up new possibilities for cash-in-transit companies to collaborate with customers more efficient, transparent and user-friendly. For example, change can be ordered quickly via smartphone. Customers simply have to enter the notes and coins they need and the desired delivery date. The CIT then receives the order directly electronically and can schedule delivery. Processes such as collecting and delivering cash or the digital driver legitimation are just as simple.
Great reasons to use the ICC app as a Value Service Provider:
- Increase customer satisfaction
- Customer loyalty thanks to integrated processes
- Electronic and automated data exchange
- Promote innovations and ensure future viability of cash
- digital receipt for sustainable processes
ICC (App) and financial institutions
Even financial institutions benefit from the numerous synergy effects of ICC. A practical example is provided by the Safebag process: Employees can accept Safebags at the counter and generate customer receipts as well as further processing of the data via ICC. The benefit on both sides: Time saving.
With regard to the ICC app, the biggest advantage is that banks and savings banks can offer their business customers a mobile solution. In this way, you create tangible added value for them.
Great reasons for ICC (App) in the financial sector:
- fast data evaluation regarding individual customers
- additional functions such as track & trace for more transparency
- easy control over cash-in-transit activities
- interesting solution for business customers
Does that all sound very exciting already? For more ICC information click here.
CTA: Would you like to learn more about the ICC App – industry-specific and individually adapted to your individual needs? Then please feel free to contact us!