Cash Management.iQ: a new cash flow forecast mechanism
Cash Management.iQ will incorporate an updated forecast mechanism starting in 2019. The new algorithm makes cash demand predictions for individual bank branches, retail outlets, and self-service devices 10-20% more accurate.
The system operator is now able to place CIT orders to minimize the risk of extra CIT operations. At the same time, it minimizes the amount of cash that is required for reasonable replenishment.
In practice, this leads to:
- Diminishing the amount of unused cash
- Reducing the number of planned and emergency CIT operations
“Each cash management system within the infrastructure of a bank or an independent cash operator is a unique ecosystem with its unique rules. The new forecast method drives fundamental changes to the solution to make it more efficient than ever. Our customers will appreciate the changes and notice a significant expense reduction provided by the lower amount of required cash and number of CIT operations”, – claims Tomas Augucevičius, Deputy General Director of Penkių kontinentų bankinės technologijos (BS/2).
Currently, the new mechanism is undergoing final testing within the Cash Management.iQ system. BS/2 customers are to expect the software update in February.
Learn more about the benefits of using cash flow management tools for your business by contacting the BS/2 company representatives today.