New GMT CashMaster Solution Helps Banks More Easily Manage Resources
Latest enhancements include web interface to simplify cash reporting process
Las Vegas, NV - BAI Retail Delivery Expo (GMT BOOTH # 2533) - November 14, 2006 - GMT Corp., an industry leader in enterprise workforce and cash optimization solutions, today announced the beta-release of its new GMT CashMaster solution, now in version 7.5. Driven by input from some of GMT's largest customers, the solution enables financial institutions to streamline cash management processes further, generate more comprehensive reports, and maximize their return on their cash assets.
Managing cash reserves has always been a top priority for such organizations as retail banks, savings and loan banks, credit unions, grocery stores, casinos, and check cashing service centers: they need to ensure they have enough cash on hand to meet daily customer demand as well as to comply with industry regulations. If a financial company runs low on cash, it must order "emergency" cash shipments at a premium price, driving up operating costs. On the other hand, keeping more money on hand than needed ties up cash resources that could be better used for other purposes, such as earning interest.
GMT CashMaster helps to strike the right balance of available cash with accurate forecasting, planning, and management of the cash ordering and fulfillment processes. Customers typically realize immediate benefits from deployment of the product; one large retail bank generated $49 million in savings in their first year of using GMT CashMaster. The solution also reduces the amount of manual labor required to manage cash, thereby minimizing staffing costs as well as many human errors in ordering and maintaining cash in various locations. The capability to generate a wide variety of "what-if" scenarios enables customers to analyze their operations for better decision-making.
New Customer-Driven Features and Enhancements
GMT CashMaster 7.5 boasts a number of new features. For instance, new cash shipment rules provide more flexibility for financial institutions to select the appropriate replenishment method. New enhancements enable companies to more accurately monitor their ATM cash flow as well as automatically reconcile unknown balances, accelerating the work of analysts. A streamlined user interface reduces transaction times by 70% or more; and a new web interface, WebCM, provides branch personnel with access as well as the ability to modify system data, which was previously restricted to only central administrators. Other new functionality includes:
- Forecasting: ZScore implementation; forecasts based on each location's historical data; refined trending calculation; improved ability to adjust forecasts
- Shipment/Order Recommendations: Allow On shipment capabilities; extended cycle consideration shipment optimization
- Performance Scorecards: monitors key performance indicators; benchmark based on defined ratings; historical and trend analysis
- Bad Data Analysis: automatically identifies data anomalies; auto-correction of data issues, with "undo" function
"Our new GMT CashMaster version responds directly to a broad range of pain-points in the highly-regulated banking industry," said Simon Angove, chief executive officer of GMT. "With more than half of the top 20 North American retail banks as GMT customers, we are careful to listen to their needs and to evolve our solutions, helping them more effectively drive financial and employee performance throughout the enterprise."
Existing customers are able to upgrade to GMT CashMaster 7.5 at no additional charge. General availability of the new solution is scheduled for the first quarter of 2007.
About GMT
GMT's workforce and cash optimizations solutions create competitive advantage by enabling companies to improve customer service and sales, while decreasing their variable expenses. The company's product line combines precision forecasting and intelligent scheduling with powerful analytics and performance management tools - together delivering a complete solution that is priced to deliver quick return on investment. GMT serves financial services and contact center customers worldwide, including ABN AMRO, Citibank, Nielsen Media, Pizza Hut, SunTrust, UPS, Washington Mutual and Wells Fargo. The company is privately held with headquarters in Atlanta, Georgia, and offices in the U.K., Australia, and India. For more information, visit www.gmt.com.
