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'Paradise by the Dashboard Light'

June 4, 2013 by Mark Smith — VP of Financial Solutions, Kahuna ATM Solutions

Given the privilege of Internet access, many of us can attend to business matters from virtually anywhere in the world. The web has given us numerous ways to communicate, but perhaps more importantly, we can acquire timely and very important data about our cash delivery products in the field.

Cash Management and Forecasting

There is no such thing as, "just in time," cash replenishment, unless you have a good deal of money sitting in your own vaults and the manpower to service your ATMs at a moment's notice. Web-based monitoring enables you to log in and see your cash balances, transactions, error messaging and the status of the device.

Setting a device to notify your teams of low currency levels in ATMs, for example, allows for a more proactive approach in uptime guarantees. Keep in mind the most common reason for an ATM not to be in operation — out of cash.

From Smart Safes to ATMs

One of the most promising products available in the market is the smart safe. It works like an ATM in reverse; instead of dispensing cash, it solely accepts cash via bill validator in order to secure funds at a facility. Smart safes are common to fast food restaurants and other businesses that take in large amounts of cash. The benefit is that a smart safe can keep an accurate accounting of funds, give you remote access to data, and allow you to work with a financial institution to gain provisional credit on funds secured at your location.

ATMs are also being managed at a very high level, but those who manage the programs may not have visibility to all of their units in the field. They are mostly using proprietary monitoring software products from individual manufacturers. While this software is well-developed, access to data can be restricted by design. There may be limits to the number of units that can be monitored with current software. The main rub is that the software may only talk to a particular manufacturer's ATMs. Varied fleets may require different software to monitor each manufacturer's terminals.

In the near future, it is quite likely that monitoring services will be available that can view both smart safes and ATMs, regardless of who manufactured the devices. This is quite powerful if you are trying to minimize visits from vault cash providers.

"Paradise by the Dashboard Light"

An old lyric takes on a new meaning. Web-based dashboard remote management has been developed by several core processors, manufacturers and service providers. These newer platforms are incredible in that they can manage multiple types of terminals, makes and models.

This enables a service entity to streamline operations and further reduce service costs — including fewer trips to devices in the field. Cutting the amount of fuel they have to purchase represents is a significant savings and a much better use of manpower to resolve matters.

Web-based monitoring is also used with cash management and forecasting services. Multiple partners in the channel benefit from full visibility to the entire fleet under contract, and notification of errors and exceptions with the terminals.

This allows deployers to forecast cash needs, reduce the residual funds left in the ATM and provide as close to "just in time" service as possible. This will be more common as we identify new niche markets to address. I have recently been working on an opportunity that has zero tolerance for ATMs running out of cash.

The best means of coordinating this effort is to be sure that all partners in the mix have visibility to the units in the field. Access can be defined and restricted according to the services they provide. For field service providers, this enables them to quickly diagnose what is happening at the individual site or at a group of sites.

More than 90 percent of technical issues are resolved over the phone. While this is good in the event that first-line service should be required on any device, it also is useful in that it gives the service provider a proper diagnosis. Providers benefit from this proactive approach and are able to stock their service trucks appropriately with parts. With early notification triggers, they can also determine what level of technician is needed for each trouble ticket.

Time is money and every service company should seek ways to minimize their time in the field. And we are now at a point where being proactive is more than an empty promise. We truly can do this very effectively.

What should you expect in costs?

 Costs can vary simply due to the level of sophistication of services required. The main difference is that these systems are offering monthly monitoring services that give you this dynamic remote access. A third-party hosting service delivers and captures the data — the user simply logs on to the Internet site to see the status of their portfolio of products.

Rather than purchase an expensive software program up front and then manage it from company headquarters, these services can be obtained from trusted at a fraction of the cost. Per terminal in the field, costs might range from $50 to $150 per month, depending on the number of services offered. Off-premises ATMs that only dispense cash will be less expensive than full-function ATMs that are common to banking facilities. Again, there are many variables to costs and I can only provide an industry average.

Other benefits?

Remote access to all devices can be important when firmware and software updates are required. If U.S. currency is changed to prevent counterfeiting, for example, you'll need to update bill validators in smart safes to be able to read and accept the new bills.

For large fleets, it is far more efficient to get that update to the terminals via Internet access than with a site viit. Updates occur without a technician being at the physical site. Fleet management gets very expensive if the service provider has to do updates at each terminal. It is far more efficient to do this remotely.

Branding and messaging may also be addressed remotely. Having remote access can allow a great number of functions from changing marketing messages to updating terminals with current advertisements. Remote access provides the ability to download marketing programs to the terminals in the field.

This is a huge benefit for those that change their advertising on a monthly/quarterly basis. Customers greatly appreciate how efficiently the system is able to deliver their content to prospective and existing customers. A great deal of information can be conveyed in a remote manner.

In a mobile world, we need mobile access. The best benefit of all: Any device that has access to the Internet may be used to see the data. Smart Phones, iPads, PCs or laptops — all can provide access to this data with secure connectivity and unique password access.

Powerful access can mean efficient operations. And the more efficient, the less it will cost to provide this robust service offering.

About Mark Smith

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