Digital vault management: security meets efficiency

Vaults form the security centre of every branch. They protect cash, valuables and sensitive documents from unauthorised access. However, in addition to security, a second aspect is becoming increasingly important: efficient management. Manual processes, paper lists and inconsistent documentation are often considered standard, especially in branch-based companies such as retail, catering or the banking sector - and lead to errors, delays or time-consuming rework. With digital vault management via an app, organisations can tackle precisely these challenges in a modern way.

Cash - indispensable, but costly

A study by the EHI Retail Institute shows that the share of cash in total sales in the German retail sector fell by a further 2.0 percentage points to 35.5 per cent in 2023. Nevertheless, around 172 billion euros will still be paid in cash at the checkout. Despite the increasing use of card payments, cash remains an essential component of payment transactions.

However, the manual management of this cash is time-consuming and error-prone. A lack of real-time transparency makes it difficult to control cash movements, which can lead to delays in identifying shortfalls. In addition, unclear access regulations and unstructured processes harbour security risks, as there is no seamless, digital traceability of transactions. This means additional work, especially at the end of the day: discrepancies between cash register systems and physical cash balances need to be reconciled, lists checked and deposit slips managed.

Cash in the vault - safe, but not efficient

While many companies already use modern cash register systems, digital transparency ultimately ends at the safe. Cash security is not just a question of storage - it starts with administration. A central point here is the transparency of deposits and withdrawals, such as the removal of funds to fill tills, manual movements through exchanges and the counting of tills and storage overnight at the end of the shift. But too many questions remain unanswered: How is it documented who had access and when? Are all transactions correctly tracked? Can cash balances be transferred in real time and therefore also checked? According to the Association for Financial Professionals, running these processes manually costs teams up to 40 per cent of their working time.

Studies also show that inefficient cash processes in the retail sector cost up to 1.8 per cent of annual turnover. The lack of transparency is particularly problematic: if cash is inaccurately documented or only booked with a delay, those responsible lack a complete overview. Incorrect stock levels, unclear responsibilities or undocumented withdrawals are often the result and lead to high costs when investigating irregularities.

In addition to financial risks, security problems also arise. A key question: Which processes safeguard withdrawals? In many companies, there is no clear access control, meaning that shrinkage or unauthorised cash movements go unnoticed. The combination of inefficient administration and unstructured processes makes it almost impossible to trace vault stocks without errors at all times.

Digital vault management via app

If you don't keep your vault inventory transparent, you lose efficiency - and risk shrinkage or unexpected cash supply bottlenecks. To overcome these challenges, companies can rely on digital vault management solutions. These enable intuitive and efficient documentation of vault inventories directly in the branch.

The Interactive Cash Control app from ALVARA is an example of such digital vault management. The app digitalises and optimises central cash processes - from vault management to cash orders and handover to cash-in-transit service providers. The result: efficient processes, digital legitimisation and a significantly reduced security risk.

• Real-time documentation of vault inventories:
  Employees record deposits and withdrawals directly and intuitively in the app, which increases transparency and control. This is because this documentation is directly available to the company digitally, so there is no need to interact with the branch.
   
• Optimised processes:
  From stocking tills to skimming and accepting change deliveries - all relevant transactions are digitally documented and immediately traceable.
   
• Increased security thanks to clear access rights:
  Control counts, the dual control principle via signature or digital signature and individually definable user rights prevent unauthorised interventions.
   
• Integration into existing systems:
  Digital vault management can be flexibly integrated into accounting and cash register systems and enables up-to-date inventory management at all times - either on a totals basis or with precise itemisation.
   
• Expandable functions for greater efficiency:
  Additional features such as automatic change ordering ensure an optimised cash supply, avoiding bottlenecks or unnecessary surpluses.
   
• Platform independence:
  Whether iOS, Android or web - a modern solution must be usable on all end devices to ensure maximum flexibility.

Conclusion

Traditional, manual vault management - be it via paper documents or Excel lists - is increasingly reaching its limits in branch operations. Digital solutions via app offer a way out by automating processes, creating transparency and increasing security. Companies that rely on such technologies benefit from more efficient cash management, reduce sources of error and can deploy resources in a more targeted manner. At a time when efficiency and security are crucial in branch operations, digital vault management represents an important step towards the future.

Relief, security and transparency sound tempting to you? Then let's tackle digital vault management for your branch together!