As transactional cash use changes, Cash Management Companies need to adapt and respond to the changing landscape. Our work with some of the largest CMCs has ranged from high level market analysis – that has included responding to Central Bank driven market changes – detailed business operational reviews and cash service product development tailored to customer needs and emerging market opportunities.
Here are some examples of projects completed.
European cash operations internal benchmark review
Brink’s Europe, France, Germany, Netherlands and United Kingdom
This assignment provided a pan European review of the most appropriate cash handling arrangements for Brink’s. Set against a background of changing Central Bank cash handling arrangements, the review evaluated current practices and operating capacity across multiple cash centre sites in four European countries (France, Germany, the Netherlands and the United Kingdom) and provided a series of practical process improvement recommendations and proposed a range of new cash handling and management solutions.
Following initial fact finding we completed 11 detailed cash centre reviews providing presentations and reports providing a series of recommendations for process improvements, procedural changes and implementation of appropriate cash processing automation and vault management systems. Our recommendations included:
- adopt a ‘production line’ environment, segmenting process steps where appropriate
- identifying different types of work and handling differently where more efficient
- automate processing methodologies appropriate to the different types of work handled
- maintaining strong supervisory and management teams to ensure workflows are optimised
- utilising robust management information systems to monitor trends / plan for volume changes
- implementing scalable solutions that can be grown or shrunk as volumes vary
Business Process Review – German Cash Centres
Following the merger of two businesses to form a single entity we were asked to review two major cash centres, one from each former operation, in order to provide a series of recommendations for process improvement, cash handling automation and adoption of best practices from within the two entities and from our market knowledge.
Having reviewed the cash centres, and taking into account the underlying business environment, our approach and recommendations were built on the following principles:
- Industrialise / Standardise / Streamline processes where possible
- Confirm deposit value and credit customers quickly and accurately
- Provide scaled solutions that can adapt to changing regulatory and customer requirements
- Follow a phased approach to minimise risks, with most recommendations not contingent upon one another.
The comprehensive report included recommendations for:
- the preparation for proposed transfer of cash processing from one site to another
- extending full track and trace functionality (data capture at customer collection point) of the Cash Control vault management system
- complete upgrade / expansion of one of the company’s cash centre, establishing a separate processing areas, separating bulk coin, mixed deposits, and bulk notes (ATM unused) where possible.
- the upgrade of existing cash sorting equipment and additional sorting processes (subject to at that time Bundesbank compliance and agreement.