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.