The demands on cash management are becoming higher, and the related processes also impact the costs of cash handling. That's why Volksbank Chemnitz set the course for efficient processes early on and found a suitable solution partner in ALVARA.
Following the successful introduction of the web-based platform ALVARA Interactive Cash Control (ICC) by ALVARA Cash Management Group AG (ALVARA) in 2016, Volksbank Chemnitz draws a successful interim conclusion.
During the market analysis of available software solutions for process support in cash management, Volksbank took notice of ALVARA. In joint workshops, ALVARA solutions for cash handling, cash acceptance, and cash withdrawal, as well as the ALVARA Coin Marketplace, were presented.
“It quickly became clear to us that ALVARA solutions create significant added value for us,” explains Knut Weise, Department of Central Services at Volksbank Chemnitz. “That's why we quickly set up a project team to record existing processes and discuss optimization possibilities.”
The web-based platform ALVARA Interactive Cash Control (ICC) is now used for cash orders and the documented handover of cash containers to the driver of the security service provider. The ALVARA main cash software, on the other hand, supports the cash counting in its own main cash office.
“After the internal processes were optimized, we focused on the next topic in 2017,” adds Knut Weise. “How can the costs, especially for coin handling, be further reduced? It was obvious that the submission of coins by customers should be consistently priced. Together with ALVARA, we therefore examined the entire process from acceptance at the counter, through fee calculation, to machine booking.”
As a result, a year ago, the decision was made that coins would only be accepted in branches via safebag, and a uniform pricing model was introduced with few exceptions. “We expanded the use of ALVARA ICC for the documented acceptance of customer safebags,” says Bernd Hohlfeld, Board at ALVARA. “Additionally, the module ‘Cash Pricing’ of the ALVARA main cash software is used, which takes over the safebag data recorded in the branch.” Without additional data entry, this data can then be used for cash counting, fee calculation, and the creation of booking files. Further advantages are the simple creation of the required Bundesbank statistics, as well as the creation of a data pool, which is available as a basis for further analysis.
Knut Weise from Volksbank Chemnitz offers an interim conclusion after one year of pricing customer coin safebags: “Overall effort has been reduced through the use of ALVARA solutions.” This makes it possible to continue offering cash services comprehensively to Volksbank's customers. At the same time, the determined fees are consistently collected.