Cash4Cast (Forecsys Cash Management Solution) — is a solution for banks with a developed network of cash machines and/or Cash-In devices (at least 300.).The system improves the timetabling process for encashment and minimises the amount of money needed to maintain the required level of service. The system can also be used to manage cash machine networks and other automatic devices used for cash deposits and/or withdrawals.
The Cash4Cast enables centralised and effective management of encashment. Using this system will significantly reduce the amount of money spent servicing the cash points.
With the help of the aforementioned system the bank can chose the strategy which best suits their system of managing encashment: finding the ideal balance between customer service and money spent on maintaining the network of cash points. Different requirements as regards quality and expenditure may be applicable to different groups of cash point.
Daily decisions about how much money to deposit into which cash point can now be made using an integrated and agreed policy for managing cash points. This leads to reduced labour costs due to the fact less employees are needed to monitor remaining cash funds and plan encashment; this, in turn, lowers the operational risks and money spent on staff.
The encashment process will become far more transparent. Parameters such as the accuracy of the forecast, the level of cash reserves in the machine, the financial effect of using the System’s forecasts both for the entire network and for isolated groups of cash machines, can now be regularly assessed and re-evaluated.
The main issues which can be resolved be the bank with the help of the System:
decision support system for encashment management strategy;
daily monitoring of necessary encashment and encashment planning on a more long-term basis;
making recommendations as regards the amount of money and type of notes to be deposited and sending claims to the encashment service taking into account the technical features of the cash point machine;;
regulating the volume of cash funds available in money storage facilities and cash operating units;
evaluating the influence of external and internal factors using situational analysis tools;
generating specific and automatic signals for situations which require a quick response;
preparing reports on the fluctuations of the indicators for quality of encashment management and low-level data (demand for cash, remaining money in cash point machines and money storage facilities, encashment carried out, etc.)
The recommendations produced by the system can be adjusted by the Client’s specialists to include their personal experiences and external factors which the System has not taken into account.
Forecasts made by the user will be saved alongside the System’s forecasts so that the former is able to compare the quality of the two predications and evaluate the effect of the changes made to the system.
All of the results produced by the System will be saved in a data base and available to use for future analyses.