What are the Advantages of Outsourcing Cash Transportation in California?
What can give you better peace of mind than knowing thousands of dollars are being transported safely and securely in an armored truck? The truck is built to resist almost any kind of attack and has two to three trained professionals driving and safeguarding the cargo. The money which is now the responsibility of a cash transportation company in California is covered by insurance.
With the advent of several popular digital solutions for monetary transactions, banks only keep a limited amount of money in their vaults. The amount of cash in the bank’s vault varies between $200,000 to $50,000, depending on the size of the bank. Anything beyond a threshold amount is transported for safekeeping at an outsourced vault belonging to the cash logistics company.
Clubbing cash logistics and ATM cash management services
To ensure tighter security and better internal coordination, ATM cash management services are outsourced to the existing cash logistics vendor. A company handling first line and second line maintenance for the ATM ensures the vending machines are stocked with paper and ink, the hardware and software are working correctly plus checking for paper or card jams. The objective is to lower downtime to a minimum. It’s the company that handles the ATM cash management services that has the most significant responsibility of keeping the vending machines stocked with cash around the clock.
ATM cash also needs to be transported by armored vehicles, so this activity is often outsourced to the existing cash transportation company in California. They can use the cash from the bank in their vault for stocking the bank’s ATMs, thereby avoiding complications and unnecessary loans. Reports generated on ATM usage helps them decide when to visit various ATMs across the city and what amount to carry for restocking cash.
Improving employee performance
Outsourcing cash logistics and cash replenishment in ATMs means many people in the bank or financial institute can focus on their core activities. Also, the management of logistics for large amounts can be a significant burden, and handing-over this task to trained professionals for this specific activity is beneficial. Hiring one vendor for cash logistics and ATM cash management services enhances security by ensuring smooth communication plus better internal coordination.
Armored trucks attract a lot of attention wherever they go, and by keeping their visits to the bank or financial institute at a minimum, the chances of a robbery are lowered. Many companies are using smart safes from the cash transportation company in California. The smart safe sends an automated message to call for a pick-up when its cassette is close to maximum capacity. Similarly, by studying the customer activity at ATMs across the city, the armored trucks can visit only when the cash needs to be replenished. They can also carry the appropriate amount of cash based on the volume of transactions at specific vending machines.
Until self-driven cars and robots don’t take over delivery services for cash and valuables, cash transportation companies in California will continue to play a vital role in the safekeeping and logistics of cash.