Recycle ATMs, is it worth it?
My first approach to recycling a valuable product commonly used is always positive. It evokes an efficient usage of world resource. Sometimes I hear people mentioning about tribes by using the adjective of “primitive”. However, in modern life we live, everything is being operated with a waste rate of higher than in “primitive” tribes. When they were hunting an animal, even the very last bone of it was being used for accessory purposes, as a necklace. Therefore, any attempt on recycling something deserves a huge amount of respect. Unfortunately, anything providing increased efficiency comes with its cost, as recycle ATM machines do over regular ones.
It is obvious that these machines take quite attention within the banking industry, since they are assumed to reduce the cash management costs, particularly in the Cash In Transit side of the operation. However, a deep analysis should be made to make the investment. There are different parameters and conditions affecting the feasibility of these machines. Since cash deposit characteristics of a location plays a vital role in this analysis, total transaction volume is often ignored. The main goal in Recycle-mode ATMs is to decrease the frequency of transfers. However, high numbers of transactions may cause an increase in the frequency of support need for Mix cassette (depletion need arises frequently). Forecasting the future total transaction volume by taking trend analysis into account of any cash demand location has never been more significant. Accurate transaction forecasting for a cash demand location during social and industrial special dates will determine your drops for the future. Simulation of future will bring a great vision for your investment plans for Recycle ATMs.
There are other factors effecting feasibility estimations. For a Recycle ATM located in a factory where people working in a place with high humidity, mix cassette will be filled rapidly by wet banknotes being deposited. In this case, recycle unit cassette won’t be replenished by the system to compensate withdrawal cash demand as expected . Environmental factors should also be included in this study. Maintenance program should also be included by forecasting future failure characteristic with respect to the behavior of these machines. Since incident management for all ATMs brings huge cost effective advantages, Recycle ATM related incidents should taken into account more carefully.
It has to be kept in mind that accurate Recycle ATM investment will cause the reduction of C02 emission, if applied in worldwide by less Cash In Transit operations. We all agree that cash is a valuable asset and it needs to be operated in the most possible efficient way.
Studies show that while correctly selected Recycle transformation may prove ver valuable, there could be cases resulting even in cost increase. So selecting wisely is the key.