Cash Automation Software

The Importance of Cash Automation Software

Cash automation software ensures that downtime is minimized, the function is optimized when managing cash.

Before the advent of modern cash automation, retailers manually moved cash from one receptacle to another, more secure receptacle, until it could be safely transported to the bank and counted. Imagine going back in time and telling a mid-1960’s shop owner about today’s cash automation. The shop owner might not believe that the cash register of the future will talk to the safe, the safe will communicate with the bank, a kiosk will automatically dispense change, and the machines will know the difference between managers and tellers. Furthermore, the devices will automatically compile, exchange, and relay data to business owners, who can determine precisely how much cash is coursing through a chain of stores at any point in time. 

All of this is made possible by the software. Without the right software, the tills, kiosks, safes, and recyclers are just receptacles for cash or highly mechanical counting machines. True cash automation adds layers of function, communication, accountability, and visibility to the cash management cycle. Since 1955, CIMA has innovated the cash management industry and continues to be at the forefront of new developments. In addition to industry-leading hardware, CIMA delivers on three primary categories of cash automation software:

On-device Software

Businesses demand much more than simple transaction processing. The on-device software allows users to interact with the cash handling machine and accomplish various tasks. The software application should be readily configurable to meet the needs of different businesses and should meet several standards: 

  • Improve cashier efficiency
  • Facilitate deposits into smart safes
  • Facilitate deposits and cash dispensing in cash recyclers
  • Set user permissions based on employee category
  • Create electronic records of all transactions

CIMA has dedicated on-device cash automation software for retail called CAOS and a solution for the banking segment called CashUp.

Integration Software

Cash management technology does not function in isolation. Systems should be able to communicate with each other and compile data from multiple areas. Business departments, managers, and third parties should have access to the relevant data. Integration software, or API’s, allows many possibilities:  

  • Cash handling machines can deliver specialized data to other systems 
  • Smart safes/recyclers can inform the CIT company of the exact cash to bring to pickup  
  • Cash machines can send deposit information to banks to facilitate provisional credit. 

Device Management and Analytics Software 

Uptime is critical in retail and banking operations, and when machines break or malfunction, sales can be lost, and customer service is at risk. Device management software ensures that downtime is minimized, the function is optimized. The best device management and analytics software for cash automation applications should offer several functions:

  • Receive alerts when a machine is offline or needs service attention 
  • Enable remote device configuration 
  • Remotely update cash automation software
  • Centrally manage a population of devices for multi-store environments

And last but not least – analytics software is an integral part of cash automation. Businesses need to identify relevant data insights, then relay the information to the correct departments. Analytics can instantly accomplish tasks that improve the bottom line:

  • Collect, analyze, and organize transactions by day, store, employee, or other parameters
  • Provide a real-time view of the cash position for all stores
  • Provide historical data and identify trends
  • Deliver the correct information at the right time to the right stakeholders so they can make informed business decisions

CIMA has built a feature-rich and highly functional platform called C-Link that manages a network of devices and consolidates information to present the right decision-making insights.

CIMA Innovation

CIMA’s Continued Commitment to Innovation

We don’t believe in “That’s The Way It’s Always Been Done” – Cash management innovation is necessary.

This mentality permeates many industries. People and companies ignore alternative ideas because we always do things a certain way…the status quo. Nothing stifles innovation faster than a mindset that discourages creativity and stops the quest for constant improvement. The situation is no different in the cash handling industry. Why dedicate engineering and resources to reimagine a machine that has been around for more than half a century?

A Bit Of History

The first ATM was introduced in the U.S on September 2, 1969, at the Chemical Bank in Rockville Centre, New York. These money dispensing machines became widely popular and handled many functions previously performed by human tellers. In the late 80s, ATM manufacturers began designing cash recyclers. Machines that deposit AND dispense cash. They used most of the same components, including cash cassettes. Eventually, cassettes became the industry standard for storing, recycling, and transporting bills in cash machines. A need was created for cash management innovation.

A Fresh Eye for New Solutions

Despite their outward similarities, cash recyclers have a very different purpose than ATMs. They were initially, and still, today, used for internal business use to automate cash handling processes and allow staff to deposit and dispense cash.

CIMA approached the industry with a fresh eye and questioned everything about the process. Our engineers wondered if cash recycling machines even needed cassettes. Cassettes are prone to damage and require time to “de cash” (remove notes, bundle, pack into plastic bags). Cassettes are expensive to replace and can be damaged easily.

CIMA engineers solved this array of problems by eliminating the need for cassettes. Instead of bulky, breakable, and unwieldy cassettes, CIMA engineered several lines of machines to recycle notes on drums or roll storage modules and deposit notes directly into a plastic bag. There are no cassettes to damage and no keys to manage. Bags are also much lighter and easier to handle than cassettes. Roll-based recycling also eliminates the problem of wasted capacity when a business uses only a tiny percentage of a cassette’s total capacity.

Innovate, Don’t Imitate

CIMA’s self-sealing stacking bag technology packs notes in a tight stack. Before removal, the machine heat-seals each bag to prevent tampering. The retailer removes sealed bags and stores them for CIT pickup. When the CIT arrives, they scan the bags, grab them and leave. The notes are never exposed or handled, as with the cassette system. This touch-free system adds a layer of protection against theft and loss. Every bag has a unique barcode so it can be tracked and traced as needed.

CIMA’s stacked bags are also much faster to process. A recent study at a CIT depot compared the processing time of 3,000 notes from CIMA bags versus standard cassettes. The CIMA bag took less than half the time to process.

The unique stacking bag technology is available across a range of smart safes and cash recyclers with capacities ranging from 1,200 to 4,000 notes per bag.

Innovation Across Industries

CIMA’s experience across various industries has shown us many of these “we have always done it that way” situations. Questioning everything drives new ideas, new products, and innovation. CIMA’s customer-centric approach focuses on solving problems whether they are industry-specific or situation-specific:

  • Retail
  • Banking
  • Gaming / Hospitality

Don’t settle for what your cash management provider offers. Ask questions and challenge the status quo.