NCR Corporation is acquiring Transoft International, a provider of cash cost optimisation software for financial institutions and retailers (view press release). NCR plans to utilise Transoft’s software and SaaS-based product suite and employees into its financial services line of business to strengthen its cash management offering, eventually bringing financial institutions and retailers an integrated cash management solution.
Transoft manages cash for ATMs, branches, vaults and retailers globally. The company’s cost optimisation software uses statistical analysis to help financial institutions and retailers optimise their cash requirements and reduce costs associated with cash handling. According to NCR cash management represents a USD1 billion segment for integrated technology hardware, software and services solutions. ATMIA states that cash management accounts for nearly 30% of an ATM’s annual expenses, while it can also save financial institutions around USD3,0000 – 10,0000 a year within a branch.