Financial institutions and retail businesses are focusing on customer experience more than ever before. With that focus comes an interesting new trend. Businesses busy developing “experiences” for their customers are looking to outsource maintenance tasks to increase efficiency and reduce cost wherever possible. Especially if they are a cash business, like the discreet cannabis industry, one of the first tasks to be outsourced is ATM management.
What is an “outsourced” ATM?
Simply put, an outsourced ATM is an ATM machine that doesn’t require attention because it’s being serviced by an ATM deployer who offers comprehensive ATM management options.
Who wants to handle ATM maintenance and upkeep when there is a reliable alternative? When an entity outsources its ATM operations, they essentially hand over tasks like cash management, system updates, compliance, tech support, and ownership to another party.
The process started becoming a trend in the mid to late 1990s when banks started outsourcing ATM management at off-site locations that were difficult for them to maintain. Banks began to outsource ATMs at their island branch units, on the drive-through lane, or in the parking lot. Today they even outsource their drive-up and walk-up units too.
“Banks are happy to get out of the ATM business,” said Blayne Amigliore, CEO of Apple Water Management. “Outsourcing first-line maintenance and cash replenishment to a reliable 3rd party gives employees less stress, and that’s attractive for banks and retail business owners.”
So an outsourced ATM is a machine that does not require the same level of commitment that previous ATM ownership entailed. No messy worries over technology updates, compliance requirements, or low cash flow. A fully outsourced ATM is monitored by a company that manages everything – from installation to peak-time cash fulfillment – on an ongoing basis.
“Our customers never have to even touch the machine if they don’t want to,” said Amiglore.
What’s included if you outsource your ATM?
One of the biggest perks of ATM outsourcing is that programs like the one Apple Water Management offers are zero cost if you qualify. Meaning, as a business owner, you don’t have to worry about capital costs, operating expenses, etc. The 3rd party servicer places the machine and manages software updates, remote monitoring, cash fulfillment, and regulatory compliance.
Owners can spend less time worrying about cash outages, cash orders, armored carrier scheduling, etc., because a company like Apple Water handles cash forecasting, and remote monitoring, and includes armored cash-in-transit (CIT) service options.
In addition, outsourced ATM programs often include 24/7 premium customer support and incident management. No need to rush to get cash or worry over connectivity issues.
“Our machines have a 99% uptime guarantee, so Apple Water clients never have to worry about not having cash available to their customers,” said Amigliore. He continued, “We make sure that our clients never have to lose a possible sale because of a faulty machine.”
Often people tell us they worry about using old ATM machines for fear that their information might be stolen. Using the latest technology and equipment ensures that user experience is optimal, but also that data is private and transactions are kept secure.
The other perk of ATM outsourcing is getting a modern new machine included free of charge in your service agreement. Not all 3rd party ATM deployers offer the latest most modern machines, but Apple Water Management invests in a fleet of modern machines as a standard operating procedure.
The latest machines also have sleek new display interfaces that are innovative and inviting. Who wouldn’t want one of those included for free?