Technological Changes on the Horizon in Cash Management

Largely spurred on by the COVID-19 pandemic and its impact, every industry the world over is searching for ways to use technological solutions to adapt and maintain agility as a new normal begins and reopening commences.

The cash management industry is no different. Even in the essentially immediate term of just the next six months, the industry could see some real innovation aimed at bringing efficiency and other benefits to operations and organizations.

Tidel Vice President of Marketing David Barclay said echoed that possibility, noting that, as the industry looks toward 2021 and beyond, change is coming.

“From a technology standpoint, we see a growing need for our customers at the retail level to have more access to their data and real-time access to their data,” he said. “It’s not just across their smart safe platforms. It’s across all their technology platforms that are interconnected in their stores.”

That means a need for solutions that provide insights that take into account data from point-of-sale systems, service systems, cash automation solutions, and more. Decisions in retail need to be made as quickly as possible without a loss in confidence, and cloud solutions and more are set to make that possible.

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