News

Communication rethought: digitization facilitates exchange with CIT

In Germany, a reliable cash supply would be inconceivable without cash-in-transit companies (CIT). A regular exchange between customers and cash-in-transit companies is therefore essential. However, this still takes a lot of time and requires a great deal of effort on both sides. Automation and system-supported communication can help here.

Hurdles in daily work

At this year’s CashDialog in Leipzig in May, one question was of particular interest to participants: How can communication with cash-in-transit (CIT) be more efficient? After all, processes and coordination are usually characterized by time-consuming manual processes – both on the customer side and on the CIT side. Everyday life is dominated by the passing on of information about cancellations or postponements of deliveries, the clarification of differences and the planning of holidays.

This is associated with numerous manual efforts that cost time and resources. As a result, this method of working also makes it difficult to maintain an overall view of daily business, and the status of cash processing remains unclear at various stages. A pure communication platform would only be a relief here. Real added value is provided by monitoring options and automation. We at ALVARA want to bring all aspects together in the future and implement them through the further development of the ICC platform.

Automation provides relief

With the use of the ICC (App), interaction with customers at CIT has long been standardized and automated. However, the direct exchange with the industries has shown that there is still further potential in the digitalization of CIT notifications. ALVARA will incorporate these findings into new functionalities of the ICC platform and continuously advance system-supported communication.

Above all, the automatic recognition of issues is essential. This means that problems and upcoming tasks should be able to be identified and managed by the system. The communication itself can thus be automated. In addition, further interfaces are to ensure that a proactive exchange of data on specific issues is simplified as well. This makes it simple to communicate postponements or changes in holiday planning digitally.

Information efficiently prepared and passed on

It is the everyday things that are recognized nowadays already in monitoring, but frequently only at the end of the day. However, for successful customer retention of the CIT, proactive communication is decisively promising. Whether it’s failed tours, the absence of individual coin orders, or a backlog in counting: CIT can report information transparently and automatically and actively bring about clarification of problems. In addition, this approach enables automated workflows so that downstream processes at the customer – often very time-consuming – can also be reduced.

The first functionalities that we would like to integrate into the solution in the future have already been discussed and developed at the Cash Dialog. One focus, for example, is the reporting of “planned” or short-term tour cancellations and the associated replacement runs by cash-in-transit companies. This will enable the stores to be informed proactively and any replacement orders to be triggered automatically.

Conclusion

In the future, cash in transit companies and customers can look forward to more efficient and transparent automatically generated communication. The standardized processes will reduce the workload on both sides and give them more time to focus on their core business. But that’s not all: The synergy with other ALVARA solutions should also bring added value in the future. It is conceivable, for example, that the planned Manager Cockpit will not only contribute to the traceability of interactions, but will also make it easier to evaluate measures. Promising perspectives, in our opinion.

Would you like to benefit from automation in CIT notifications? We will gladly show you your options!

Cash Remains Competitive – Retrospective on ESTA 2023

A world without cash – barely conceivable for many people. To ensure that cash does not disappear, a national initiative has been launched in Switzerland to preserve coins and bills. The concern that cash will be suppressed and that part of personal freedom will be lost is too strong. At the ESTA conference, speakers and participants certainly did not share this fear. After all, the motto this year is “Cash is competitive”.

The future of cash

The last few years have been eventful on all levels. The way we deal with cash has also changed – and not just once. During the corona pandemic, contactless payment was hyped by politicians and society as the “safest means of payment.” As a result, cash payments have declined. The war in Ukraine, in turn, has led to a surge in cash demand in early 2022, according to ESTA organizers ahead of the business conference.

With this year’s motto, ESTA has thus set an example: Cash is competitive – through independence from payment service providers, efficient and automated processes, professional handling, and digital interfaces between cash-in-transit companies, banks, and retailers. However, things are about to change in the near future. That is why this year’s ESTA program was characterized by change and a look into the future.

ALVARA and the ESTA motto

This year’s ESTA motto is not new for us at ALVARA. We even add an assumption: Cash is competitive and will remain so in the future. After all, efficient, transparent and secure solutions can eliminate various current challenges faced by cash players and make cash management easier. The question of whether cash will disappear or not is less relevant to us.

Our focus: the development of new software solutions that optimize and digitize cash processes. We already offer a diverse portfolio for retailers, banks, and cash-in-transit companies. With each product, we master challenges such as increasing cost pressure, the complexity of individual cash processes, and the networking of players. You can find some examples here:

It goes without saying that we do not rest on our first successes. Suggestions from the industry such as at the ESTA Business Conference are helpful in identifying pain points and solving them together with customers.

Thank you for a successful event!

We would like to express our sincere gratitude for interesting insights, exciting talks, the international exhibition and discussion panels worth listening to. As in previous years, ESTA 2023 again provided an exciting program and a healthy mix of presentations, discussions and the exhibition booths. We are already looking forward to the next ESTA Business Conference with high-level speakers and numerous networking opportunities.

Cash is an important topic in your everyday work? Then let’s put our heads together for sustainable solutions!

ALVARA CashDialog: New ideas for the Retail Industry

On May 4 and 5, ALVARA once again organized the spring CashDialog for Retailers. With representatives from retail companies, we focused on the topic of cash and related challenges in Leipzig. The result of the productive dialogues: current insights, many great suggestions and inspiring digital ideas for the future.

ALVARA CashDialog Spring 2023

A location with a far-reaching view – over Leipzig. The City Hochhaus was the perfect meeting place for our dialog platform, which focused on the future of cash logistics. As every year, the door was open to ALVARA customers as well as any other interested parties. We had prepared an exciting agenda for the two days. Always with the aim of promoting discussions and thus creating new incentives for the digitalization and automation of processes. Therefore, the topics of the second day were mainly part of workshops and discussion rounds.

Day 1 | 05/04/2023

– News and updates from the market
– Review and outlook on releases
– AI in demand-driven approaches
– Evening event: pleasant ending in the vodkaria

Day 2 | 05.05.2023

– Manager Cockpit
– ICC as a communication platform to the CIT
– KPIs for data quality
– AI in risk assessment
– Interfaces internal company data analysis

Data gold – one of the main topics

The participants from the retail sector were quickly aware of what is currently the main concern: data. Data is often available, but it is not always used optimally. As a result, the treasure trove of data remains undiscovered. The automated collection, enrichment and evaluation of existing data is therefore highly relevant. The solution developed: The ICC Management Cockpit. It visualizes all relevant data in a single graphical interface.

However, communication with the Cash-in-transit companies (CIT) also became part of the agenda. The idea of the participants: Via Interactive Cash Control (ICC), workflows from the retailers’ back office are increasingly automated and manual processes are reduced to a few special topics. This creates space to address the current challenges for retail, logistics and the connection of both through change management and supply. These aspects are particularly essential for us to be able to develop solutions along the “real” problems. According to the motto: From practice for practice.

On the trail of solutions

However, the aim of the CashDialog is not just to raise challenges. The focus is always on the necessary solutions. So we took the initial ideas and drilled deeper. For the Manager Cockpit, for example, we have already been able to collect suggestions about what information the application should display.

Other suggestions for the future of retailers were:

– the recording and evaluation of the safe inventory via photo recording,
– the further development of app functionalities,
– pushing AI research for further automation, and
– optimizing reporting (ongoing process).

At ALVARA, we are already working at high speed on the latter two points.

Outlook for the fall

A lively exchange, valuable insights, hidden potentials and current innovation power – the CashDialog Retail in May 2023 was again a highlight for us. Because of the promising ideas and the opportunity for unrestricted networking, the exchange is again firmly scheduled for the fall. You can look forward to first drafts for the Manager Cockpit and much more. As soon as the program and date are fixed, we will be happy to contact you.

Are you ready for the future? Then find out more about our software solutions for retail or directly contact us!

Sustainable thinking : our contribution to environmental protection

Sustainability is becoming increasingly important for the economy. According to a survey of companies in Germany conducted by the Bertelsmann Stiftung, 84 percent of those responsible consider this topic to be important. If we take a look at the implementation, about half already state that sustainability is “fully” or “predominantly” anchored in the organization. Our ALVARA Group has reflected on where it stands today – and where it still intends to go.

Social sustainability

For a long time, sustainability was only associated with environmental and climate protection. However, if companies really want to act sustainably, they should not only be aware of the consequences of their decisions on the environment. They must also consider society and, above all, their employees. At ALVARA, social sustainability has always played a significant part. One thing is clear: without satisfied colleagues, a well-run business is inconceivable.

Our main goal is to achieve the perfect balance between family and career. This is why, we do everything we can to ensure that our employees see us as a family-friendly company. The focus is on fulfilling individual needs. Flexitime and part-time models of various kinds, as well as the option of mobile working, give our valued employees more flexibility in their everyday lives and ensure the desired work-life balance – which in turn saves on commuting and the associated CO2 emissions. We also do good as a team: We forgo gifts and instead make donations to charitable organizations together.

Ecological sustainability

We also create opportunities for our employees to travel sustainably for necessary journeys such as commuting to work and business appointments – which already has an ecological focus. We have recently made the newly introduced Deutschlandticket available to our employees to use local buses and trains. When it comes to travel, we follow a clear path: Instead of an entire fleet of vehicles, we have a company vehicle and rely on trains as our preferred way of traveling.

For many, the use of renewable energies is at the top of the to-do list for environmental sustainability – for us, too. With modern data centers that meet the highest standards – not only in terms of security – but also with regard to energy efficiency, we are improving our climate footprint. In addition, we use renewable energy sources for data center infrastructure operations.

We live the paperless office! All our business processes are digital – from acquisition over helpdesk, to reporting, and transactions. In addition to eliminating the need for paper and thus protecting the environment, this also has other advantages. In the end, we work more efficiently – independent of location and quickly.

And paperless working is also becoming increasingly important among our customers. For example, more and more retailers are aiming to digitize processes and introduce a paperless back office. In this context, digital collaboration with the cash in transit companies (CIT) is essential, including digitally generated receipts and vouchers. Read here how our Pecunia solution and the ICC Connector pave the way for this. But also at the POS there are possibilities to protect the environment.

Economic sustainability

Our company was created out of a clear motivation: to support retailers, financial institutions and value service providers in their digitization efforts through innovative ideas and efficient software solutions. A positive side effect is that paper is disappearing more and more from our customers’ everyday work. Thus, our business model in itself aims at a sustainable way of working for the various cash players.

Quality management is also essential for us: “Made in Europe” development to the highest standards is an absolute must. This allows effective controls and efficient coordination processes to be carried out today and tomorrow with consistent quality.

Conclusion

At ALVARA, we are already thinking sustainably on many levels. Of course, the topic of sustainability is far from being “fully and completely” fulfilled. Because ecological, economic and social responsibilities will continue to develop. Therefore, companies should also constantly reflect and review their actions. This approach will continue to be increasingly important for us in the future.

Have you been considering how you can contribute to environmental protection? Digital processes that dispense with paper can be a first step. Let’s talk about it!

Big data revolution in retail: AI in the lead

Whether in private life or at work, data is playing an increasingly important part. Retailers also want to benefit from the data trove, strengthen customer loyalty and make processes more efficient. This brings one question into focus: How can large amounts of data be systematically managed and used ? Only when this subsidiary objective has been achieved that valuable information can be gained and trends can be identified. Artificial intelligence has been making a name for itself as a reliable trailblazer for a few years now. Some even go further and claim that AI is revolutionizing the field of big data.

AI and data analytics

The future is here. Today, humans and machines are already generating constantly growing volumes of data in a wide variety of formats. From weather information to data on purchasing behavior in online stores to health facts – the range is almost infinite. To obtain real added value from it, a further step is needed: data must be converted into information in order to provide the necessary answers

How can customers be convinced to buy? What is the quality of individual business processes? And how can cash management in retail be optimized? Retailers will find the solutions in modern data analytics applications using AI. This is because AI algorithms analyze large volumes of data quickly and effectively – based on patterns and correlations. This requires three essential steps: data must be acquired, optimized and structured, as well as analyzed and processed efficiently.

Artificial intelligence in retail

Once all steps have been completed, the combination of AI and data analytics brings many advantages:

– Respond quickly to changes – through data in real time
– Automation of tasks and economizing human resources
– Predict future trends and events
– Analyze historical data for decision making
– Competitive advantage through efficiency, accuracy, and data-driven decision making

A frequently stated benefit for retailers: Comprehensive information can be used to improve the customer experience and to strengthen customer loyalty. But AI also helps to optimize processes. This makes things easier. AI can also bring relief when it comes to cash handling. After all, increasing cost pressure and the complexity of cash processing require solutions.

They get around these obstacles with Big Data analytics and AI integration. They compile the most important information, such as the processing times of cash by employees, the malfunction frequency of smart safes, or the time spent by service providers on site, and provide necessary answers to questions. This automatically generates new KPIs (Key Performance Indicators) that provide information about potential weaknesses and make a significant contribution to greater efficiency in processes.

At the same time, AI analysis simplifies the identification of anomalies and the various so-called bottlenecks. Thanks to the data and its transformation into information, nothing stands in the way of continuous monitoring of retail processes, such as the clearing of cash differences or manual process steps, including time indications.

– Identification of shortfalls: Analyzing transaction data makes it possible to identify irregularities or incorrect amounts. In this way, retailers counteract fraud or human error.
– Counterfeit avoidance: By analyzing patterns, retailers can take preventive measures. This helps prevent the acceptance of counterfeit money.
– Change inventory optimization: Looking at sales data and customer flows helps make predictions about change stocks. Expensive overstocks can thus be avoided.

Overall, this offers the opportunity to reduce bottlenecks and waiting times at the point of sale as well as to improve the customer experience. In addition, employee resources can be conserved, training times can be minimized, and the complexity of processes can be reduced. In order to benefit from this, one condition must be fulfilled: correct data must be available. Obtaining this data is often a major challenge, difficult to overcome without integrating a variety of systems such as POS software and partners.

AI and Cash Management: ICC as an Interface

Our ICC platform plays an important role in the field of analysis and control in cash management. It operates as an information provider as well as a central data source for retailers. This is because retail, financial and cash-in-transit companies, as players in the cash cycle, are automatically connected to the software. The large number of data points leads to a wealth of information – from potential risks and processing times to quality and reliability in individual processes.

The advantages are clear: The simple integration of service providers through multiplexing of interfaces means that new data sources can be quickly accessed. The software can monitor data flows automatically. As a result, retailers gain information promptly – often even in real time. The ICC platform itself thus becomes a comprehensive and valuable data source, whose integration into internal BI systems is made possible with ease by standardized interfaces. Overall, this provides maximum flexibility for the company’s internal controlling and data analytics departments – focusing on internal processes and genuine customer understanding.

All functions of our ICC platform and the ICC app as mobile equivalent can be found right here.

Are you ready for the Big Data future? Then we look forward to hearing from you!

Supermarket, gas station and co. – Genuine alternatives to the ATM?

In the past few years, the daily press has increasingly reported on towns, communities and small cities that offered only limited service hours. However, it was not enough to run locations profitably. As a result, financial institutions closed branches completely and ATMs were also dismantled. The question that arises in this context is: What is the situation of cash supply in Germany? Supermarkets and gas stations seem to offer a practical alternative with cash services.

Not without cash!

Despite the corona pandemic and the resulting hype about contactless, supposedly virus-free payment, there is still no clear decline in the use of cash. Bills and coins therefore remain in first place. Also in retail, more than half of the customers pay in cash – especially for smaller amounts. Thus, going to the bakery or paying a tip are still irrevocably associated to cash. Nevertheless, there is a noticeable trend: mobile payment methods are gaining in popularity.

Many financial institutions are using this development as an opportunity to reduce their own ATM network. According to figures from the Federal Association of German Cooperative Banks (BVR), more than 4,000 ATMs have been taken down since 2014. In the last two years, the figure was around 1,800 (Read more about these figures in Handelsblatt). Other reasons include the decline in the number of branches and self-service locations as well as ATM demolitions. In the past year, the number of the latter was in the mid-hundreds.

Alternative in store

Some retailers, such as electronics retailer Gravis, have adopted this non-cash trend as well, completely eliminating coins and bills from their stores. Meanwhile, others are trying to fill the gap of disappearing ATMs. Many supermarkets, drugstores and gas stations, for example, offer cash-out at checkout. However, this option is not new. As part of customer service, cash has been available for withdrawal in stores since the 2000s.

However, this service has become more popular over the years. It allows customers to combine their purchases at the checkout with cash withdrawals. In most cases, this cashback service is available for a minimum purchase of 5 or 10 euros. As a rule, amounts between 10 and 200 euros can be withdrawn from the checking account. This eliminates the need for consumers to make a trip to the ATM.

If a retailer is a viacash partner, money can be easily withdrawn at the counter or deposited into the checking account. For more information about viacash: please click here.

Conclusion

Even though traditional sources of cash are disappearing, according to the Deutsche Bundesbank, cash will continue to be supplied primarily via bank counters and ATMs in the near future – and this with an “overwhelming majority”. However, store checkouts offer a profitable alternative for withdrawing cash in an easy and uncomplicated way.

Whether you are a financial institution or a retailer, we at ALVARA I Digital Solutions are committed to optimizing your cash processes. Interested? Then we look forward to receiving your contact request!