Cash Management is the system of collecting, managing and investing cash in an ATM which can be outsourced by means of banks to MSPs. The cutting-edge cash control cycle involves pick up from the bank, cash movement from the financial institution to the ATMs' locations, grading, counting, tracking ATMs for assessing the extent of coins in an ATM, and replenishing cash in the machine. Cash management comprises of services such as wrapping, sorting, checking the quality of bills, and others. The adoption of new cash logistics services further reduces the operating cost and provides efficient project management, and dependable infrastructure, and other things. Moreover, factors such as growth in the movement of cash, an increase in demand for the safe and vault associated with cash management, led to an increase in the deployment of ATMs driving the market growth.
However, an increase in the cash movement has led to an increase in robberies and a rise in the adoption of digital money that may impact the growth of the market. Further, the production of fully automated cash management and a substantial increase in cash demand from the emerging economies supporting the opportunities associated with the players that operate in the ATM Cash Management Market. The increasing need for automated cloud-based solutions in banking is further expected to add lucrative opportunities over the market and forecast period. The cloud-based cash management system is now being easily integrated into present enterprise resource planning (ERP) systems which aid banks in managing the money flow and payments over a network. This allows banks to scale up money management for addressing the corporate customer’s requirement by accessing the real-time to access transaction activities.
The rise in need for centralized cash management solutions over banking transaction processes is expected to propel the market growth over the forecast period. These solutions further allow businesses to develop an understanding of cash and financial transactions management. The numerous businesses are further focusing that drive financial efficiency and managing the transaction risk.
The rise in the adoption of smart and safe cash management solutions over different end uses is anticipated to fuel market growth. Smart safe solutions help businesses overcome cash handling and storage issues. The growth is related to expansion associated with e-commerce and automated systems in the banking industry. The rise in the number of ATMs globally further expected to boost the growth of the banking sector for the global ATM market. An increase in the necessity to gain the visibility associated with money transfer activities across the multiple accounts, currencies, and geographies is further anticipated to drive the segment over the forecast period. Based on end-use, the market van be segmented into banks, retail, non-banking financial operations, commercial enterprises, and many others. The banks segment is further expected to dominate the market over the forecast period owing to the wide-scale adoption of money management systems over reducing the overall time required for the transaction process which will further help in increase the overall high net profit of the banks. The other major factor such as the adoption of the smart-safe technology, that allows businesses to store funds at a particular location, and automatically count the cash funds, and can also be used for transferring the value of those funds into an account.
Related Report: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
No comments:
Post a Comment