While the entire economy is travelling towards a cash-free direction, the fact that cash still remains the king in several key industries and businesses just cannot be ignored. Although modern payment methods like UPI are gaining popularity, the role that is played by a good and reputed cash management company cannot be downplayed in any manner whatsoever.
A treasury management company is one that is engaged in the business of handling cash money through one stream or the other and it is the supply chain of such cash that they are involved with! India is a vast country with several geographic regions that host ATMs, Banks, Commercial establishments, Businesses, and so much more. Ensuring that each one of them receives the amount of cash that they might require within a certain period of time is something that is made sure by these companies. You may have seen such companies refilling ATM machines with their vans parked outside the doors, well, that is a live example of what a cash management company does.
In India, Integrated facility management companies are gaining quite a bit of traction in this day and age, and as far as these companies are concerned, cash handling does play a critical role in their daily operations. If you are looking for an efficient method that can be used to manage your firm’s cash transportation requirements, a treasury management service is something that you can opt for!
Now, we do have a fair enough idea regarding what these companies stand for, but are you aware of all the services that they offer? Well, it must be said that their operations extend far beyond delivering cash to ATMs! These functions come together to make them a key cog of the overall economy, so let us take a look at some of the most important roles that they offer.
Cash collection and checking.
For businesses, cash transactions play a massive role in more ways than one, and what this means is that they need to move around a large amount of cash on a seemingly regular basis. Well, the cash management companies are the ones who would be trusted to do just that. They collect the cash that is being generated, count and document the finds, and if the need so arises immediately, deliver them to a new store or location.
Although modern businesses are heavily reliant on the UPI and online infrastructure, cheques play a vital role nonetheless! Cash transportation companies can be entrusted to collect the cheques from the respective vendors and outlets, document them and check them for their authenticity, and other all the aforementioned tasks have been carried out, send them for clearance and collection. If you are looking for a company that would be able to deliver a comprehensive service when it comes to cheque handling and clearance, this is it!
No two-currency note is the same, and while they are collected and delivered, they must be sorted properly to ensure operational efficiency once they have been delivered. Once the collection process has been executed, state-of-the-art machines are used to sort the notes. Since the entire process has been automated, the chances of errors are massively reduced.
Dealing with soiled and unusable notes.
Cash notes are tangible commodities that may get soiled if not used or handled properly, and this is something that can have a negative impact on the viability of such notes. Businesses often find it difficult to use them as no one would accept a currency note that cannot be used anywhere else. These companies would collect such notes and substitute them with usable ones that can be widely used. This is an extremely important function of such companies that makes them essential for businesses.
The security aspect of things.
Transporting cash from one location to another is quite a dangerous task that may involve several hazards. These companies focus on total security solutions for their operations, and what this means is that they are well-equipped to protect and defend the cash from any eventuality that may arise as they are being transported.
The trucks and other transportation vehicles that are used, come equipped with a wide host of security implements and tools that may be used to defend the consignment against thugs, robbers, natural disasters, etc. Armed guards, GPS trackers, reinforced bodies, CCTV surveillance, etc. are just some of the many measures that have been adopted to achieve the desired effect.
Cash is King, and when it comes to supply chains of the said King, efficiency, and security are paramount. Facility Management companies that possess cash management divisions are some of the most secure options out there. A quick search online would help you zero in on the right company in this industry.