CARY, N.C. - Transoft International, a leading provider of currency supply-chain-management solutions, is planning to exhibit its OptiVault software in September during the International Commercial Cash Operations Seminar. Transoft says it will highlight how OptiVault can help financial institutions comply with Federal Reserve cross-shipping and custodial-inventory policies.
Organized by Currency-Research Corp., ICCOS is a forum that targets banks, armored carriers/cash-in-transit providers, cash processors, casinos, retailers and federal authorities to discuss issues affecting the industry. Cross-shipping and custodial-inventory policies are expected to be key discussion points during the forum.
According to a news release, OptiVault is designed to meet complex demands of vault and money-center environments. While providing a view of the total demand placed upon the currency supply chain, OptiVault accurately forecasts current and future cash requirements for the bank, money room, vault and commercial customer. OptiVault forecasts are evaluated against the various cost components associated with ordering, holding and delivering currency to identify optimal costs to meet cash demand.
By analyzing the flow of currency throughout the entire organization, the amount of cash inventory can be managed to the lowest possible level to reduce costs, improve efficiency, avoid cross-shipping penalties and mitigate exposure to risk, Transoft says.
