The online platform ALVARA controls and documents the cash cycle between financial, retail, and cash logistics service companies. The path of cash from deposit to booking at the Bundesbank can thus be fully transparently mapped and monitored. Financial institutions that manage their own cash handling and work with a cash logistics service provider will particularly benefit from the new "Track & Trace Main Cash Desk" module.
Leipzig, 10.11.2020. The Leipzig-based ALVARA Cash Management Group AG is launching a new module of its highly successful online platform ALVARA Interactive Cash Control (ICC). With the software, the cash logistics specialists, recognized across Europe, efficiently and transparently control and document the cash cycle between financial, retail, and cash logistics service companies.
"With ALVARA ICC, the entire cash cycle - from deposit at any cashpoint to booking at the Bundesbank - is visible and traceable for all parties," says Bernd Hohlfeld, CEO of ALVARA Cash Management Group AG.
Now, ALVARA has developed a new module that specifically supports financial institutions that operate their own cash handling and use a cash logistics service provider (WDL) as a transporter. Together with the WDL’s logistics application, the "Track & Trace Main Cash Desk" module allows for complete digital branch supply and disposal without media discontinuity, ensuring security, efficiency, and traceability.
"So far, the main cash desk handed a paper list to the WDL at the pickup of the commissioned containers, with all (cash) packages to be delivered and also picked up from the branch, including the corresponding branch allocation," explains Bernd Hohlfeld about the previous procedure. "Both the handover and the acceptance of the containers were confirmed on the paper lists by signature."
Previously, the main cash desk had no way to determine whether the commissioned (cash) packages were correctly delivered to the individual branches as planned and whether the cash stocks to be disposed of were fully picked up from the branch.
The new ALVARA ICC module helps make this process more secure and efficient. It supports both the branch supply and disposal process. During branch supply, the main cash desk records the commissioned containers with target branch in the system.
The WDL picks up the valuables at the main cash desk, scans them on acceptance with its logistics application, and delivers them to the branches. In the process, the WDL’s logistics application checks whether the target branch is correct and whether all containers to be delivered are complete.
Subsequently, the main cash desk can check or evaluate the process in ALVARA ICC via report and calendar. Branch disposal works just as smoothly: Here, the main cash desk can check whether all containers picked up by the WDL from the branches were properly delivered to the main cash desk.
"With the help of the new module, the commissioned containers arrive precisely at the branches where the bank or savings bank planned," says Thomas Vietze, second chairman of the ALVARA Cash Management Group AG. "The process is seamless, secure, and transparent for all involved. The error-prone and especially time-consuming maintenance of paper lists is eliminated."
With the new "Track & Trace Main Cash Desk" module and the connection between the WDL software and bank requirements, ALVARA ICC digitizes another process in the cash logistics chain.