Johannesburg, 05 Jul 2013
This is the problem faced everyday by banks when deciding how much cash to send to branches and ATMs so that they don't run out before the next delivery, and to minimise cash holdings.
Fortunately for them, there are some great cash forecasting tools on the market that the banks are starting to implement to help with this dilemma. These tools have very advanced calculation engines designed to model seasonal trends in cash withdrawals.
These forecasting tools also provide a gold mine of data and information that can be further analysed and reported on. Anametrix was tasked by one of the country's leading banks to develop a branch reporting pack. This pack was to provide each of the branches with a full review of their performance with regards to all aspects of cash holdings.
"Having a full view of your cash-on-hand, allows you to reduce ordering excess cash. This in turn can result in large savings," stated Mike Robson, MD, Anametrix.
This report pack gave the head-office staff as well as the branches a full overview of how that particular branch was doing. The report showed amongst other information what its forecast accuracy was with respect to the branch and the ATMs it serviced. This in turn was used to adjust the forecast calculations to be more accurate. Another valuable view showed what the missed opportunity was with respect to the branches optimum cash holdings.
Additional information included transaction history, order compliance, net usage and insurance limits and breaches.
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