Improving the efficiency of cash collection operations with the help of modern information technologies

Keywords: information technologies, state regulatory policy, electronic collection, Cash-in-Transit

Abstract

Despite the steady spread of non-cash payment technologies, especially now in the pandemic, cash remains the most common method of payment in all countries.

The availability of cash in banking institutions, cash centers, ATMs, various self-service devices is provided by the units of collection and transportation of currency values.

Collection of funds and transportation of currency values ​​is an integral part of the cash circulation of any banking system, which consists in the collection, delivery and movement of cash by vehicles, from enterprises, institutions, organizations of various forms of ownership to banking institutions and vice versa.

The cost of conducting cash collection, supporting cash registers, branches, and loading ATMs constitues a significant part of all operating expenses of banks and collection companies. Due to the high level of risk of attacks on the teams of collectors, the main task is to maintain an appropriate level of security to protect life and health of collectors, which requires significant financial costs. Business owners find a way out in the introduction of new innovative banking products and information technologies.

The article examines the processes of cash collection operations by classical and electronic methods as well as modern innovative technologies for cash collection, cash processing, and protection of valuables. The results of scientific research show that the reduction of operating costs for cash collection increases the level of security, and optimization of cash processing is possible only with the active implementation and use of modern information technology and automated software.

The article proves the need to improve the mechanism of state regulatory policy in the market of cash collection services in Ukraine, in particular, to amend the regulatory legal acts of the regulator, which is represented by the National Bank of Ukraine, in terms of refining and detailing legal norms that establish and determine the procedure operations on cash collection in electronic form and periodicity of collection units employees training.

Downloads

Download data is not yet available.

Author Biography

Andriy Fedets, Lviv Polytechnic National University; Central Depository of the National Bank of Ukraine

Educational and Scientific Institute of Public Administration;

Department of Transportation of Valuables in Lviv Region

References

Kompaniia BS/2, rishennia Cash Management.iQ. Available at: https://cashmanagementiq.com/2021/05/03/cash-management-iq-revolution-replatforming-of-cash-circulation-optimization-system Last accessed: 30.08.2021

Sostoianie i perspektivy razvitiia NDO v Rossii (2020). Assotsiatsiia «NDO». Moscow: Pechatnii dom Ilinykh, 45. Available at: obzor_2020.pdf (a-ndo.ru) Last accessed: 27.09.2021

Pro Natsionalnyi bank Ukrainy (1999). Zakon Ukrainy No. 679–XIV. 20.05.1999. Available at: https://zakon.rada.gov.ua/laws/show/679-14#Text Last accessed: 30.08.2021

Polozhennia pro vedennia kasovykh operatsii u natsionalnii valiuti v Ukraini (2017). Postanova Pravlinnia Natsionalnoho banku Ukrainy No. 148. 29.12.2017. Available at: https://zakon.rada.gov.ua/laws/show/v0148500-17#Text Last accessed: 08.09.2021

Instruktsiia z orhanizatsii inkasatsii koshtiv ta perevezennia valiutnykh tsinnostei u bankivskykh ustanovakh v Ukraini (2017). Postanova Pravlinnia Natsionalnoho banku Ukrainy No. 29. 31.03.2017. Available at: https://zakon.rada.gov.ua/laws/show/v0029500-17#n8 Last accessed: 01.09.2021

Torhovelna vyruchka. Inkasatsiia. PAT KB PryvatBank. Available at: http://privatbank.ua/business/universalnyje-reshenija/torgovaya-viruchka/ Last accessed: 08.09.2021

BS/2 Cash management. Available at: https://www.bs2.lt/ru/programmnoe-obespechenie/semeystvo-produktov-iq/cash-managementiq/ Last accessed: 08.09.2021

Programno-aparatnii kompleks «Avtokasa». Available at: https://avtokassa.com/ Last accessed: 03.09.2021

Avtomatyzovana depozytna mashyna. Kompaniia Renome Smart. Available at: https://renomesmart.com/hardware/es-3002/ Last accessed: 08.09.2021

U ramkakh Alfa Jazz Fest Alfa-Bank ta Ukrsotsbank predstavliat novitni bankomaty (2017). Alfa-Bank. Available at: https://alfabank.ua/about/press/u-ramkah-alfa-jazz-fest-alfa-bank-ta-ukrsocbank-predstavlyat-1360 Last accessed: 08.09.2021

The future of ATM cash protection. Oberthur Cash Protection. Available at: https://blog.oberthurcp.com/future-of-atm-cash-protection Last accessed: 08.09.2021

Cash-in-transit (CIT). Wikipedia. Available at: https://en.wikipedia.org/wiki/Cash-in-transit Last accessed: 08.09.2021

Prosegur. Cash Today. Available at: https://www.prosegur.es/negocios-y-pymes/soluciones-efectivo/logistica-y-gestion Last accessed: 08.09.2021

Brink's. Total cash Management. Available at: https://us.brinks.com/ Last accessed: 08.09.2021

Cash in Transit. Loomis. SafePoint. Available at: https://www.loomis.us/services/cash-transit Last accessed: 08.09.2021

G4S. Cash Solutions. Available at: https://www.g4s.com Last accessed: 08.09.2021


👁 271
⬇ 307
Published
2021-09-30
How to Cite
Fedets, A. (2021). Improving the efficiency of cash collection operations with the help of modern information technologies. EUREKA: Social and Humanities, (5), 49-57. https://doi.org/10.21303/2504-5571.2021.002078
Section
Business, Management and Accounting