Assessment and Benchmarking of a Leading Cash Management Company
One of the largest cash management companies in Africa sought an independent review of its cash processing operations.
The objective of the assessment was to understand how their business compared against international practices within the cash management industry, in order to identify any operational improvements and opportunities to enhance their service offering.
Information GatheringVaultex issued a data request to capture the necessary information required for benchmarking. This was then supplemented by interviews with key stakeholders to build our understanding of the current operation, including core business performance, capabilities and corporate strategy.
Quantitative benchmarkingUsing the data gathered, the operations were benchmarked against cash industry performance metrics from a selection of regions (covering Australia, Middle East, North America, South Asia, South America and Western Europe) – to evaluate and quantify the profitability, efficiency and effectiveness of the operation.
Qualitative Current State AssessmentThe operations were assessed against the key business pillars of People, Process, Technology, Quality and Governance to highlight potential areas for improvement. They were evaluated against what Vaultex considers as ‘lagging’ and ‘leading’ practices within the global cash industry, based on our extensive observations, experiences and understanding.
RecommendationsThe potential operational improvements and product opportunities were defined and prioritised using an impact/effort scoring methodology – identifying both ‘quick wins’ and longer-term strategic improvements, whilst also providing clear recommendations aligned to the company’s overall corporate strategy.
Operational Benchmarking: Operation benchmarked against 25 cash processing metrics, 30 CIT metrics and 20 ATM metrics.
Highlighting Improvements: Seventeen potential operational improvements identified, with additional detail provided for the quick wins as well further recommendations.
Opportunities Identified: Seven potential new product opportunities identified, with three recommended to be progressed and three to be investigated further after evaluation.
Future Planning: Clear recommendations and considerations delivered on the company pricing methodology to help improve company pricing structure.