Just as consumers know where a package is in transit at any given time, your organization should be able to say the same about its money. GS1 US® is working with cash industry partners to bring greater transparency and efficiency to today’s cash logistics.
Benefits of Cash Visibility
Together with the financial services community, GS1 US is working to develop and adopt data standards and best practices for cash logistics affecting intensive cash users and businesses. Through this effort, a new level of cash visibility will enable:
- Improved data accuracy with reduced manual data entry
- Faster resolution of discrepancies between origin and destination
- Value-added information on status and value of cash in transit across a merchant’s footprint
- Potential real-time access to cash parcel movement status
- Automated custody vs. manual paper-based In limited proof-of-concept testing with major armored carriers, our cash visibility efforts produced a reduction of one-half to two-thirds in dock time.
In limited proof-of-concept testing with major armored carriers, our cash visibility efforts produced a reduction of one-half to two-thirds in dock tim
Coverage of GS1 Standards
Through shared cash visibility standards, partners can easily communicate their deposits or cash transit status throughout the cycle. Being able to “see it through” allows better oversight and security, as well as improved financial planning through efficient, reliable control environments at each point of the supply chain.