Everyone wants to know how to lower costs in their cash distribution network. So how can you do it?
Well, if you haven't done so already, you would start with the conventional methods. You would improve your cash forecasting. You would renegotiate your CIT contracts to lower the cost per load. And you would review your distribution network for any very low-volume touch points where you could close a branch or remove an ATM with limited impact on your customers.
That’s all well and good and are certainly steps you could take. But to get next-level savings, you first have to realize there are three interrelated silos within the bank, likely reporting up through three different channels in the bank.
As we’ve talked about in an earlier blog, these three silos are forecasting, accounting, and treasury, and all three work together unwittingly to keep cash costs high. What’s more, there are data lags in how the accounting groups do their reconciliations. After all, traditional accounting methods rarely have a sense of urgency behind them.
And furthermore, to get next-level savings you would need to realize that with Perativ's cash optimization processes and systems, you can eliminate those data lags and eradicate the silos. In using our bank and ATM solutions, you'll drive tremendous value to your cash distribution network, reducing costs downward, and freeing up employees for more future-oriented activities.