Even in our globalised world, cash remains king. As a leader in end-to-end cash management solutions, businesses worldwide have a lot to gain from reaching out to experts like Deposita when it comes to streamlining their cash management systems.
Deposita was appointed to enhance a Serbian client’s end-to-end cash management system. The main objective was to develop a bespoke solution suited to the client’s unique requirements.
In this Q&A with Heads of Software Development and Business Services, Kutloisiso Mona and Derek Sanhokwe recount one of Deposita’s most successful international endeavours to date – showing how our technology can be adapted to suit any client in any industry or country.
How can Deposita improve on existing cash and payment management systems?
Derek Sanhokwe: Deposita doesn’t believe in one-size-fits-all solutions. Instead, we identify and discuss individual customers’ needs to produce tailored results. In the Serbian commission’s case, replacing a legacy system with modern cash automation technology was the main challenge.
Before, our Serbian client did everything manually. They would manually submit requests, whereas the customer portal we designed gives them an autonomous edge. Now, they can push stakeholders towards this portal to place orders themselves.
It not only gives the client greater capacity – they’re also the first in their market to offer this experience. It really differentiates them from the competition.
Kutloisiso Mona explains: You don’t have to wait for a specific feature, as there is already a reasonable amount of configuration Deposita can offer customers. We can give you what you want and what works for you. The product will fit your business the way you run it.
How long does it take to complete a project from ideation to rollout?
Derek Sanhokwe: As with any project, it depends on the scope and kind of cash management solution required. While some jobs are quick and easy, others are more complex. That said, Deposita uses modular designs that teams have created during the South African range’s development. This significantly speeds up the process.
From a technology perspective, about 60% of the mechanics and programming required already existed prior to the Serbian commission. But there was still quite a bit of customisation to suit the client’s particular needs.
We worked on different components as we went along because we had the core system in place. Although, each new or customised piece we brought in was built and tested. Then we received feedback on and improved it. It was a continuous cycle of building, testing and improving.
Aside from automation, what other goals do Deposita strive to achieve during projects?
Kutloisiso Mona: We want to get Deposita into as many countries as possible.
Derek Sanhokwe: From an Allied Universal perspective, an established brand with a presence all around the world, the focus is to get our product into as many global businesses as possible. That is the goal.
We get a lot of interest and demand from the work we did in Serbia from other cash business countries. We’re bent on getting Deposita commodities to all those countries.
Deposita’s workings with Serbia have resulted in an adaptable system. With the metrics we have now, it’d easily fit into the majority of Allied Universal markets.
What were some challenges Deposita had to overcome during the Serbian project?
Kutloisiso Mona: Every challenge is a learning opportunity for the future. Since the Serbian client was from a foreign country with a completely different culture, there was no shortage of learning and growth opportunities for both the South African and Serbian teams.
Crossing the language barrier
Derek Sanhokwe: It took roughly three months of daily conversations with our Serbian colleagues to get to a point where we all understood each other. The English we speak in South Africa doesn’t necessarily have the same meaning as English in another country.
Sometimes, other people will stick to a literal translation of their language into English. Thanks to our frequent interactions, we reached a point where we would understand each other and communicate effectively with our Serbian counterparts.
Determining which solutions will work best
Derek Sanhokwe: We started by analysing the best products used in South Africa. Then, we built a strong relationship with our Serbian colleagues. Next, we sat with them and broke down each component, saying: ‘This is what we have, does that work for you?’
There are a couple of points that are unique to the Serbian environment. For instance, in South Africa, we deliver cash and pack it directly into an ATM. In Serbia, they put all the money into cassettes before placing them in an ATM. Each bank also has a unique cassette configuration which is among the additional layers we built into the new cash management system.
The result was more Connector Collect capabilities.
In a country like South Africa, you can select ‘deliver cash to ATM’, and in Serbia or a similar country, you can specify which ATM to deliver cash to.
Serbia also uses sixteen unique currencies, one of which is tokens. We had to customise the system to accept tokens because it’s not something people usually value. And actually, value entirely depends on whatever a society values. It was all about enabling that functionality.
How will this solution change the client’s business for the better?
Kutloisiso Mona: Whether in Serbia or another country, Deposita’s cash and payment management solutions safeguard users’ livelihoods from money’s damaging and costly effects. Less cash handling means less waste, error and temptation. It ultimately saves time while increasing efficiency and profitability.
We added a number of new features based on the unique requirements of our Serbia commission and the international market in general. So, the first thing I’d say is that the technology is configurable. We can customise and configure products to contain only the features consumers want. South Africa, for example, only makes use of the cash processing module and not the CIT logistics module of the product. We’re then able to deliver products featuring only the cash-processing components.
In Serbia, we delivered the complete solution, which is a customer portal, a CIT system and a cash management system. It can be localised to suit a particular country, and we can configure some settings. In one country, they may want a specific process flow where, in another environment, it can be switched off or adapted to suit other needs.
It’s difficult for such a complex product to be this ‘off-the-shelf’ without redeveloping existing features. But with Deposita, solutions can simply be reconfigured to suit different business operations.
Ready to explore how Deposita can customise your cash management solutions?
Cash businesses aren’t going anywhere anytime soon, especially after recent events like the global financial crisis and the COVID pandemic. After all, there’s a sense of security that comes with physical funds. International businesses now have the opportunity to rethink their cash management cycles to ensure that secure and convenient systems are in place.
Deposita’s highly customisable end-to-end cash and payment management solutions can be tailored to any business or industry. Be sure to contact us for a complimentary consultation to discuss your business needs.