Vault-cash provider Cash Connect is adding staff to its total cash management (TCM) area and its technology group to meet business growth demands. According to a press release, additions to the staff include programmers, project managers and analyst positions.

The TCM department, which provides armored carrier management and cash forecasting services to vault cash clients, has experienced significant growth since launching in 2008 as IADs outsource such responsibilities to improve operating efficiencies. Of the more than 11,000 ATMs funded by Cash Connect, TCM services are being employed on more than 3,000.

"One of the ways many IADs are responding to the pressure on the ATM business model is by focusing more on business development and high-level management while outsourcing time-consuming yet important tasks like cash forecasting and carrier management," said Jonathan Waterhouse, who manages Cash Connect's TCM department.

For more information on this topic, visit our vault cash/cash management research center.

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