Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'ATM Managed Services Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the managed services industry. This report breaks down the data and analysis behind the procurement of ATM managed services and acts as an all-inclusive guide for making smart purchasing decisions.
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Global ATM Managed Services Procurement Market Intelligence Report (Graphic: Business Wire)
"The ATM managed services industry is experiencing a high global demand for digital ATM services from financial institutions such as banks due to its user-friendliness and low transaction time," says SpendEdge procurement analyst A Kowshik. "The rapid adoption of new technological tools to provide better customer experience and reduce cyber-attacks will further help banks to reach out to the unbanked remote areas cost-effectively," added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global ATM Managed Services Market:
- Adoption of IoT in ATM management services
- Installation of cash recycler
- Next-gen omnichannel ATM management solution
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Adoption of IoT in ATM management services:
The increase in cyber attacks across economies has escalated security concerns among the global population. Also, the high operating costs, demand for higher uptime, and the need for better management of ATM sites have led to the demand for a central monitoring system that makes business processes easy and straightforward for buyers such as financial institutions. Incorporating IoT helps in delivering complete visibility and real-time control of such systems, thereby enabling safer and efficient management of ATM sites. It also offers benefits such as live monitoring andhelps lower costs due to low human deployment.
Installation of cash recycler:
Financial institutions are focusing on installing cash recyclers as cash recycling software enables financial institutions to offer appropriate services to their customers and improve operational efficiency while cutting down costs. Cash recyclers are used to recycle notes as it helps in reducing cash replenishment, errors by tellers, reduction in scope of attacks and cash counterfeit. Moreover, this software also helps in tackling cost sinks such as counting cash multiple times, the manual reconciliation process, and inadequate transportation.
Next-gen omnichannel ATM management solution:
Omnichannel ATMs are evolved to be a channel complementary to branch, mobile, and internet banking with the primary objective to create a consistent experience across all channels. Such ATM's include targeted marketing and advertising, information services, multi-media ATMs, rapid dispensing capabilities, and international remittances. KPI's of omnichannel ATM management systems include status indicators such as cash level indicator and fault indicators.
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