DALLAS, TX — Morphis, Inc., the world leader in global currency supply chain management software, has introduced Morphis●IMF™ Intuitive Monetary Forecasting. The workforce automation and forecasting solution is designed for any sized bank or credit union, includes more automation and predicts the required amount of cash needed to order for every branch and self-service device in the entire organization.
For banks and credit unions, the cost and complexity of offering easy access to cash continues to rise. Financial institutions (FIs) keep as much as 40 percent more cash on hand than required and few have successfully implemented enterprise-wide supply and demand management strategies, according to a study from Deloitte.
“Managing cash demands for ATM and branch operations is extremely complex,” says Morphis CEO Gary Faulkner. “Too little cash on hand could result in unhappy customers. Too much can result in idle cash – a wasting asset. Morphis●IMF combines easy to understand visuals with ‘tic box’ order approval for a super-streamlined ‘look at this, click that’ user experience.”
Morphis●IMF is a cloud-based solution that simplifies integration with existing branch software platforms, providing new levels of omni-channel (ITM, teller recycler, ATM, retailer) cash control by automating the four most critical elements of cash control workflow: net demand forecasting and order automation, vendor command and control, transaction activity management and report automation.
Morphis President Alif Rahman explains, “Morphis●IMF takes into consideration how much cash is deposited through all cash touchpoints ‒ branches, recyclers and ATMs that accept cash deposits, how much cash is sitting in the vaults and how much is being distributed out through ATMs and branches. We analyze the data by denomination and set daily upper and lower bound inventory targets ‒ resulting in a much more accurate net demand cash forecast.”
“Stakeholder reporting, both ad hoc and standardized is delivered through a secure cloud-based portal providing easily controlled access to others,” Rahman continues.
“With Morphis●IMF FIs of all sizes will gain more control over their net demand cash needs, reduce or eliminate human error, save time and money, and most importantly be able to put those idle little cash soldiers back to work,” said Faulkner.