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Payment Orchestration vs Cash Cycle Orchestration
How applying the new concept of Payment Orchestration to the Cash Cycle can increase control and productivity
Payment Orchestration has emerged as a vital capability for businesses in today’s digital world. It is a system that optimizes and holistically manages the complete payment process and involves consolidating and managing multiple payment gateways through one platform. The goals are to streamline operations, increase reliability, and deliver a frictionless customer experience.
CMS Analytics applies these principles to physical cash, in our unique Cash Cycle Orchestration methodology. This is a combination of software and consultancy solutions that provides a basis for a complete service to manage the whole cash cycle, by giving financial institutions (FI’s)transparency, power and control over their cash cycle.
Here's how the concepts translate to the physical cash cycle:
Centralized Management: Cash Cycle Orchestration consolidates cash operations into a single, unified platform, enabling complete visibility across the cash ecosystem.
Multi-Provider/Vendor Integration: Just as Payment Orchestration connects with multiple suppliers, Cash Cycle Orchestration integrates with all stakeholders - cash handlers, logistics providers, FI’s - ensuring a seamless, end-to-end process.
Simplified Processes: Cash processes, such as forecasting and reconciliation, can be automated through one centralized portal, streamlining workflows for clients and internal teams alike.
Real-Time Data Processing: Real-time data can be leveraged in several ways, from deposit tracking to service issue monitoring; to order updates and real-time balances verification. This provides the FI's with immediate insights to allow for accurate decision making.
Risk Management: Using advanced data analytics techniques, the software can identify multiple trends in a wide range of areas, such as attacks, fraud, service issues etc. These insights enable the FI to make fast, informed decisions to reduce network risk.
Whether orchestrating digital transactions or physical cash, the goal is the same: to allow optimization, insight and control at scale. By adopting the proven strategies of Payments Orchestration and applying them to the cash cycle, FIs can unlock new levels of efficiency, resilience, and value through Cash Cycle Orchestration.
In both Payment and Cash Cycle Orchestration, finding the optimal solution means using data to make the most efficient decisions.
Payments Orchestration involves choosing the best path for each transaction to improve performance and reduce fees.
Cash Cycle Orchestration involves choosing the best processes to deliver the right amount of cash, in the right place, at the right time.
Learn more about Orchestration at our Cash in the USA event, taking place on October 7th in Charlotte, North Carolina.
