Why You Need One Service Provider for All Your Bank Equipment

    Aug 12 2019

    Running a bank branch today is a challenging proposition. Fintech has shifted customer behaviour rapidly. Over the last few years, customers have switched to using apps, so their visits to branches have dropped off. More branches are shifting their focus to providing superior customer service when a customer does pop in with a question.

    The expansion of technology has extended to branches themselves, so it has become part of delivering that superior customer experience. New devices allow you to deliver more services faster than ever before.

    But more devices also mean more risks and, often, more providers looking for a piece of the pie. You may partner with one provider to source your bank equipment, another to store it, and yet another to ship it. When it comes to repair and maintenance, you may have another three to five providers taking care of your equipment.

    If this sounds like the situation in your branch, it’s time to rethink the operations. A single service provider could be the answer.

    An All-in-One Solution for Bank Equipment

    Do you know who you need to call when one of your devices malfunctions? Is it the original equipment manufacturer or a parts supply company? If you need same-day service, are you calling an emergency service provider or are you calling your go-to team?

    Not knowing who to call can create delays in moving your equipment between storage and the branch. It can also cause confusion and delays when you need to repair a device. Who will send the part? Does the machine need to be shipped out, and if so, where is it going? Who will ship it?

    Security is another concern, as are training and costs.

    Working with a single provider for end-to-end service for your bank equipment resolves all of these concerns. You’ll call the same team if you need service or parts, and they’ll also look after warehousing and shipping.

    A Clear View of Your Equipment

    Working with a single provider offers more clarity into your device inventory. Since that provider helps you source devices, then ship and store them, your inventory is easier to monitor. All the information is in one location, not scattered across different databases.

    This clear view can help you make better decisions about your device inventory. Do you need to keep all those PIN pads on hand? How soon will you need to replace your coin and banknote recyclers?

    When you work with a single provider, getting the answers is as easy as one-two-three.

    Rationalizing Costs

    Working with a single provider not only streamlines your operations, but also helps you streamline your costs. It can be difficult to keep track of how much you’re paying for warehousing and shipping if the fees are split up across different services.

    The same is true of maintenance. You’ll pay separately for the part, the shipping, and the repair. How much did the repair truly cost you?

    When you work with a single provider, everything is on one bill, which makes it easier to keep track of costs. It could also help you avoid extra costs or hidden fees.

    Prevention Is the Best Medicine

    Another advantage of working with a single provider is that it’s easier to keep track of all your bank equipment. While this might help with inventory and replacement, it also makes it easier to keep track of how machines are maintained.

    The single provider should offer both preventive maintenance and repairs. With the information about your bank equipment in one secure place, it can keep tabs on which machines have been serviced recently and which ones are due for maintenance.

    Finally, the provider’s expert team can help you train your own people to use the devices the right way.

    It’s easy to see why a single service provider is a better solution for all your bank equipment needs.

    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3