Leipzig, 24.11.2021. The leading European provider of track & trace software solutions, ALVARA | Digital Solutions, is presenting its new ICC module "Notification to Insurers" to optimize cash processes in retail. From now on, retailers, cash-in-transit companies, and insurers will benefit from the extended functionality of the industry solution established across Europe.
The online platform Interactive Cash Control (ICC) offers financial, trading, and cash-in-transit companies the opportunity to efficiently manage and track their entire cash process. Cash actors thus solve many complex communication and monitoring tasks in the cash logistics process with a single application. The flexible and tailored solution supports customers worldwide in increasing quality, efficiency, security, and transparency in their processes. The new "Notification to Insurers" module enables retail companies and banks in particular to map their cash cycle even more securely.
Cash and logistics processes are complex and not always efficiently designed – this also applies to the procedures between retailers and cash-in-transit companies (CIT): When a retailer hands over cash to the CIT, it should be deposited at the Bundesbank on the next banking day. With the online platform ICC, all details of this process can be traced transparently:
- – Unique container number
- – Carrier and cash center
- – Container history
- – Target value and counting result
- – Current status from liability transfer in the branch to BBk deposit
"Previously, it was the task of the retailers to manually check reports on the status of deposits. If a deposit was not made on time, retailers had to send emails to the insurer and the cash-in-transit company," explains ALVARA | Digital Solutions Managing Director Steven Schwarznau. "The background: By making them aware of a possible claim early on, retailers avoid legal disadvantages and claim-reducing consequences," adds ALVARA | Digital Solutions Key Account Manager Robert Wolf.
With the new ICC module "Notification to Insurers", the verification of reports and deposits is done automatically, as well as the email dispatch to the insurer and CIT with all relevant data. Each retailer can customize when and how the automatic notification to the insurer should be sent. Thus, the inspection time can be set to check whether the money has also been deposited. Furthermore, a tolerance amount can also be defined, which must be exceeded for a notification to be sent. If this is not reached, no automatic email is sent to the insurer and/or the CIT. In the email configuration, trading companies define flexibly to whom which text with which data should be sent.
"In combination with other modules of the online platform ICC, several synergy effects arise for trade," emphasizes Steven Schwarznau. For example, the module "Public Holiday Replacement Route Planning" makes the process of route planning significantly more efficient: "Previously, CIT had to send lists with the replacement trip days to their retailers for coordination. If, for example, Wednesday, the regular collection day, was a holiday, they would come on Thursday. The retailers had to check the lists and, if necessary, adjust or specify the trips for certain locations. This back-and-forth between retailer and CIT often took a lot of time," recalls Robert Wolf. With the ICC module "Public Holiday Replacement Route Planning", retailers completely hand over this task to the CIT: They plan their routes accordingly and report the replacement trip days to ICC, where the retailer can view them if necessary. Through digitization, the entire process between retailer and CIT can be greatly simplified without cumbersome list reconciliation.
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