BUSINESS DRIVERS AND GOALS:
The largest armored transport service provider in the Midwest services over 6,000 customers, 24 hours a day, seven days a week, 365 days a year. With a fleet of over 200 armored vehicles, their customers include retailers, banks, financial service centers, government agencies, currency exchanges and many other organizations with a need for secure currency, coin, checks and security transportation.
The company wanted to develop a forecasting replenishment application for all their ATM machines. All data collected by the ATM machine for a given customer needed to be uploaded into the application every night. Historical data needed to be stored for each ATM machine. Based on the data collected and variables used in forecasting such as location, client holidays and public holidays the application would forecast the amount of money to be replenished for each ATM machine. Since borrowing cash from federal reserves required a percentage charge therefore more accurate the forecast the better use of cash reserves. The permutation and combination for single ATM machine in terms of replenishment needed to be calculated.
BUSINESS SOLUTION:
BSA created a custom application to automate the business processes. With the use of third party tools, Visual Basic and MS-SQL Server, BSA was able to accurately forecast the needs of each ATM machine, as well as the frequency at which the money needed to be replenished. The application eliminated the need for manual entries, since all information was retrieved and stored in the database.
BUSINESS RESULTS:
The application was very successful, with the company saving sixty percent through the efficient management of cash reserves. In addition, workflow efficiencies reduced the need for manual entry by thirty percent.
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