Flexibility in cash management - strengths of hardware manufacturer-independent ERP systems
ERP systems are the digital backbone of many companies - this also applies to financial institutions, retailers and value-added service providers. They collate information from areas such as purchasing, merchandise management, financial accounting and controlling and automate business processes. This helps with the planning and management of company resources.
However, when it comes to cash management in the cash centre, traditional ERP systems are no help. This requires a specialised ERP suite that digitally maps all cash processes from cash processing to the coordination of transports and integrates industry-specific hardware. It is worth evaluating this at the procurement stage in order to avoid a one-sided relationship of dependency.
ERP software with hardware constraints
An ERP system for cash handling should offer companies both efficiency and flexibility. Most ERP systems in the area of cash management that connect peripheral devices such as counting machines enable the latter through hardware independence. However, there are a few exceptions. Manufacturers of cash processing hardware in particular may offer ERP, hardware and services as a complete solution. In this case, the connection of counting machines from other manufacturers may be technically complex or not planned at all.
Restricted negotiating power and rising costs are often the result of such a relationship. The buzzword: vendor lock-in. Hardware manufacturers dictate prices and conditions, making it almost impossible for companies to choose more favourable or innovative hardware for cash processing. It becomes particularly problematic when business processes evolve but the hardware no longer fits perfectly. Those responsible then have to purchase additional adaptations or extensions from the manufacturer at great expense - or their implementation is simply impossible.
In short, those who rely on ERP and hardware from one manufacturer run the risk of losing control, flexibility and a lot of money in the long term.
No compromises in ERP selection
Companies should therefore protect themselves from expensive dependencies and instead choose strategic freedom for future developments.
- More choice and future-proofing
Hardware manufacturer-independent ERP systems can be flexibly combined with existing or new hardware. Companies can choose the devices that suit their requirements - and remain connected to technological developments.
- Transparent costs
Instead of hidden licence models, companies benefit from more predictable costs. Maintenance, expansions or hardware changes can be managed according to economic aspects - not manufacturer availability.
- Experts on board!?
Strong partnerships are formed where expertise complements each other. Manufacturers of cash processing hardware may be focussed on their core business - the hardware. It can therefore be a good decision to rely on ‘real’ software specialists when it comes to ERP.
Our contribution to free choice
ERP systems for cash management and logistics, as well as the associated hardware, should be adapted to the business processes - not the other way round. Only then can they realise their full potential. In addition, costs can be better controlled. This is why our ALVARA customers from the financial sector and cash-in-transit industry benefit from the free choice of cash processing hardware with our ERP suite Pecunia. The result: more control, more flexibility and an economically sustainable ERP solution for optimised cash handling processes.