logicpath Blog | Whoknew

Why Banks and Credit Unions Should Automate the Cash Supply Chain

Feb 4, 2021 | Kelly MacConnell

Banks and credit unions have some of the most intricate supply chain systems in the world. The main driver for this is the increased use of sophisticated technology such as ATMs/ITMs, Video Tellers, Recyclers and Kiosks.

Topics: Branches and ATMs, Cash Management, Vault Cash

Leveraging Technology for a Successful Future with Data

Jan 22, 2021 | Kelly MacConnell

As we previously covered, cloud software has removed significant barriers when it comes to allowing community banks and credit unions to leverage data with the addition of advanced technology.

Topics: Branches and ATMs, Cash Management, Vault Cash

The Importance of Process and Quality Data with Your Cloud Software

Jan 7, 2021 | Kelly MacConnell

In the last few blog posts we have discussed how cloud software has given community banks and credit unions increased accessibility to data. However, there are steps financial institutions need to take to ensure they are getting the highest quality of data out of their software through efficient processes.

Topics: Branches and ATMs, Cash Management, Vault Cash

Setting the Stage for Success Part 2: Cultural Adoption of a Data Informed Mindset

Dec 11, 2020 | Kelly MacConnell

Have you ever bought a new piece of helpful technology that sits unused despite there being a good reason to have purchased it? We’ve all been there. The same concept also applies to getting your team members to adopt a data informed mindset to make every data-driven initiative a success, and while you’re exploring cloud software applications to help manage data, provide reporting, cash forecasting, and more—it’s important to begin by thinking about the data itself. There are already well-define...

Topics: Branches and ATMs, Cash Management, Vault Cash

Setting the Stage for Success Part 1: How to Become a Data Informed Cash Manager

Nov 12, 2020 | Kelly MacConnell

As we discussed in our previous blog post, banks and credit unions now have access to more data than ever which can be used to make strategic business decisions. However, it is not uncommon for financial institutions to miss the opportunity to take advantage of their data due to a lack of the right mindset.

Topics: Branches and ATMs, Cash Management, Vault Cash

Cloud Software has Changed the Game for Banks and Credit Unions

Oct 28, 2020 | Kelly MacConnell

It is no secret that cloud software has been a game changer for many organizations across a multitude of industries including financial services. Today, cloud software has become affordable and more accessible to organizations of any size to leverage, but why is this important? Banks and credit unions are accumulating data more quickly than ever before due to the rapid advancement in technology. Financial institutions are now more empowered with data because of the easy access and usability of E...

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #8 Implement a Review Process

Oct 13, 2020 | Kelly MacConnell

To wrap up our Smart Tips series we want to talk about the importance of implementing a review process for your cash supply chain and inventory management practices. A good review process is vital to your organization’s success and needs to be reviewed thoroughly before implementation begins. Below are some questions to ask your cash management team when thinking about your review process:

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #7 Review Your Target and Limit Performance

Oct 2, 2020 | Kelly MacConnell

In a previous blog we discussed how to set a realistic target or limit to successfully optimize your cash supply chain and inventory. Let’s review the five steps in creating a target or limit:

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #6 Define Delivery Schedules

Sep 15, 2020 | Kelly MacConnell

One of the costliest areas in cash supply chain management for a bank or credit union is the expense associated with cash deposit and deliveries. In this blog post, we will be reccomending best practices that financial institutions should use to define their delivery schedules appropriately to optimize the cash supply chain and reduce deposit, delivery and holding costs.

Topics: Branches and ATMs, Cash Management, Vault Cash

Smart Tips – Managing Your Cash Supply Chain and Inventory - #5 Update Your Inventory Expectations Frequently

Aug 18, 2020 | Kelly MacConnell

One of the best practices for having optimal inventory levels is to regularly update your inventory expectations. This means adjusting your targets and limits appropriately by reviewing your actual cash demand and usage. Often, cash inventory and supply chain processes and expectations go years without being updated. However, to truly optimize your processes, these expectations should be updated on a monthly basis, and even more often if there are significant changes to your cash supply chain or...

Topics: Branches and ATMs, Cash Management, Vault Cash