A solution engineered to automate cash operations, provide better branch and banking network visibility, and reduce risk and cash costs
Avivatech LLC, an innovative software business specializing in cash and check automation solutions for branch banking and retail payment environments, announced the availability of the CashWare Advisor dashboard, reporting and analytics solution, an application that provides end-to-end visibility into a financial institution’s cash network – from transaction activity to personnel and device performance.
Avivatech’s CashWare Advisor® solution is engineered to automate #cash operations, provide better branch and #banking network visibility and reduce risk and cash costs. #cashautomation
According to the 2023 Findings from the Diary of Consumer Payment Choice report published by the Federal Reserve Bank of San Francisco, consumer use of cash as a payment method declined slightly from 2020 to 2021, accounting for 18 percent of all payments, which was driven by an increase in non-cash payments and not an actual decrease in cash payments.
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“During the pandemic, opportunities to use alternatives to cash as a payment method increased dramatically, but the consistent number of cash payments over the past two years suggests there may be a floor to cash use. Banks and credit unions need to establish efficient processes to handle cash for years to come. Today’s financial institution (FI) leaders continue to spend a disproportionate amount of their time performing manual cash handling processes without the insights they need to improve their cash operations,” said Jeff Hempker, President, Avivatech LLC. “The CashWare Advisor solution supports FI leaders by providing cash visibility to facilitate better planning and greater efficiency. Working in tandem with the CashWare® branch automation solution deployed in thousands of FI locations since 2009, the CashWare Advisor dashboard provides near real-time visibility into cash levels and cash management activities in the branch and across the entire branch network.”
Unlike other solutions, the CashWare Advisor dashboard frees FI leaders from the hassle of monitoring their cash operations data from disparate applications and devices. The system aggregates data from cash handling devices, teller systems and other sources, providing easy access to pertinent cash operations data across the entire enterprise.
The dashboard’s Key Performance Indicators feature triggers automatic alerts when selected, predefined conditions occur. In addition to other management views, the solution features Key Activity Charts, which graphically display core operation statistics throughout the day for monitoring. Additionally, the CashWare Advisor solution empowers users with query capabilities to examine operational data to uncover performance trends and exceptions, as well as document activity over time.
The CashWare Advisor dashboard lets users create unique role-based views encompassing their area of responsibility. Users can then easily monitor and report on performance indicators that are relevant to them and receive alerts when predefined conditions occur. This function enables branch managers and teller supervisors to easily monitor how the branch’s cash recyclers and cash dispensers are performing while enabling the technical support team to measure the performance and utilization of cash recyclers and dispensers immediately. As a result, financial institutions can leverage actionable insights to bring greater efficiencies to their cash-handling network.
“We are proud to be the premier cash and check software automation solutions provider for banking and retail payment environments. Our customers are seeing the benefits of cash automation, saving time and reducing their operational costs,” said Hempker.
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