News

Morphis intros intuitive omnichannel cash forecasting tool for FIs of any size

April 23, 2018

Morphis Inc., a provider of currency supply chain management software, has introduced Morphis-IMF Intuitive Monetary Forecasting.

The workforce automation and forecasting tool predicts the amount of cash needed for every branch and self-service device across an entire financial institution of any size, according to a press release.

A recent study by Deloitte found that FIs often keep as much as 40 percent more cash on hand than they need, and that few have successfully implemented enterprise-wide supply and demand management strategies, the release said.

"Managing cash demands for ATM and branch operations is extremely complex," Morphis CEO Gary Faulkner said. "Too little cash on hand could result in unhappy customers. Too much can result in idle cash — a wasting asset. Morphis-IMF combines easy-to-understand visuals with '[check] box' order approval for a super-streamlined 'look at this, click that' user experience."

The cloud-based solution features simple integration with existing branch software platforms, and provides new levels of omnichannel cash control by automating four critical workflow elements: net demand forecasting and order automation; vendor command and control; transaction activity management; and report automation.

Standard and customized stakeholder reporting is delivered through a secure cloud-based portal that provides easily controlled access, the release said.

"Morphis-IMF takes into consideration how much cash is deposited through all cash touch points — branches, recyclers and ATMs that accept cash deposits — how much cash is sitting in the vaults and how much is being distributed out through ATMs and branches," Morphis President Alif Rahman said in the release. "We analyze the data by denomination and set daily upper and lower bound inventory targets, resulting in a much more accurate net demand cash forecast."