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Business Segment
The world of cash continues to be a dynamic and challenging
industry. For years the “cashless society” has long been
predicted, only to see the levels of cash usage worldwide
increase. For the non-consumer handlers of cash; the Retailer,
Banks, and Armored Carriers (CIT), it continues to be a labor
intensive, high capital venture. In the last 10 years
information technology has improved the options for bringing
efficiencies to the workflow and materials handling.
Services Provided
To serve the world of cash handlers, we work with our clients to
address specific needs or problems they identify. Alternatively, we
take our clients through a 4-step program guaranteed to improve
their bottom-line. We begin by assessing (1) the operation and
workflows. During this stage we collect data for the second step and
benchmark the beginning point. The analysis (2) step includes a
comparison of our client’s operation to the industry standards in
the form of a report card for a fuller understanding of the
potential opportunity. The third step is defining the actions (3)
for improvement. Performance achievements are only derived through
measurable actions. The final step or phase is the control and
measurement (4) plan. This ensures workflow improvements are
achieved and accountability is in place to be reviewed regularly and
ensure sustainability.
Our collective Experiences
Our team is made of exceptional individuals with the following
experiences for our clients to draw upon:
Companies where experiences
were acquired:
United States Federal Reserve Bank, Wachovia Bank, Royal Bank of Canada, Giesecke & Deverient, Brink’s Inc.
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Workflow |
Consulted with Fortune 100 commercial banks on currency operations productivity improvement techniques and strategies covering software, equipment, cash reductions, and armored transportation
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Counseled domestic and international clients on continuous improvement programs and the introduction of automated processes for currency handling
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Created innovative benchmarking analyses for currency operations’ unit cost, optimizing inventory levels, ATM availability & performance, and delivery logistics
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Outsourcing |
Developed, and executed to contract signing, a complex, long-term outsourcing plan for the fourth largest bank in Canada
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Formulated and drove three large bank mergers, outsourcing contracts totaling $27 million annually, government banking legislation, audit & risk management evaluations, and personnel development.
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Product Development |
Initiated strategies for expanding product lines and customer base to complement legacy equipment sales and service contracts
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Improved product offerings by acquiring / developing and introducing four new payment solutions providing ATM, branch, and logistics management.
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Created a suite of software products called CompassCM to form a complete cash room processing solution, increasing productivity and reducing cost for cash management clients.
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Developed new system with a major armored carrier to deliver a unique service to retailers, with the potential to generate $1+ million in revenue annually for the software solution portion alone..
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Operations |
Managed twenty-six money center operations that processed cash deposits of $80 billion annually and orders totaling $30 billion; accountable for a $60 million operating budget and 700 employees
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Coordinated the system-wide implementation of 132 currency processing systems totaling $165 million in capital expenditures and $35 million for ongoing field engineering and maintenance expenses
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Managed the introduction of the 1996 Series Currency including planning inventory levels, coordinated the domestic and international publicity campaigns, and enhanced currency processing equipment
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Directed the project team to deploy the CompassCM software for Bank of America with the world’s largest national network of cash centers (70), taking the functionality of 6 disparate systems and combining them into one solution.
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Cash Optimization |
Directed ATM deposit processing operations across twenty-one locations processing 21 million consumer deposits annually
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Policy |
Chaired a project team which analyzed currency automation technologies and developed recommendations for standardization throughout the Federal Reserve System
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Acted as a liaison to the Legal, Insurance, Armored Carrier, Food/Consumer Services, Currency Technology, Information Security, Audit, Accounting and Smartcard committees
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Developed a Federal Reserve Uniform Cash Access Policy to standardize system-wide currency services
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Business Development |
Launched strategic partnerships with armored car companies to innovate the use of technologically advanced processing equipment and procedures resulting in recurring revenue streams for client.
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Dramatically grew Cash & Logistics business garnering a 77% increase in revenue, 67% increase in operating margin, 300% increase in recurring ASP revenue, 80% increase in maintenance revenue, and 50% increase in product R&D investment over the last five years.
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Key involvement in all aspects of the sales and marketing process for cash center automation and cash management software which achieved 100% market share of the major Canadian chartered banks and the Central Bank of Canada. Other clients included Wachovia (USA), G4S (UK), SBV (South Africa), Armourgard (New Zealand) and others.
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