Cash Management Solutions (CMS) has launched a new software and consultancy offering, which it claims will reduce cash balances by around 30% and deliver administration efficiencies. Building societies, such as Nottingham, Coventry and Saffron, as well as several UK financial institutions, are already making bottom-line cost savings using CMS’s software tool, designed to replace manual, paper-based, or ad-hoc cash management processes.
CMS, which covers both strategic and tactical cash management tools, is supported by a team of experienced mathematical analysts – checking, assessing, and re-forecasting cash balances daily to ensure its clients receive appropriate and up-to-date forecasts and recommendations.
“While all the current hype is around electronic and online payments, it’s important to remember that cash remains the most trusted form of payment,” said Andrea Donafee, managing director, CMS. “Cash is very expensive to handle for any retailer, building society, or bank and it is very easy for operation inefficiencies to creep into day to day operations. For many, simply reducing their ‘cash in transit’ can bring sizeable savings. We go beyond technology, to provide our customers with excellent money intelligence and consultancy services that deliver significant savings.”
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