Deploying Smart Safes: What can go wrong?

The AFP interviewed interviewed me for an article called, “Tips for getting the most out of your Smart Safes.”

The article appeared in the AFP’s February 2009 edition of the “Payments.”My experience has been that these rollouts can be like making sausage . . . great when you are done, but the process can be difficult to watch. Here, paraphrased is the first   7 considerations to help you have a successful rollout.

  • Find an in-house expert.
  • Appoint an in-house trainer.
  • Start slowly. Do it properly.
  • Follow the money, and the information.
  • Get outside the box. Work with your armored carrier and whoever is processing the deposits. Look for win-win opportunities to wring out cost.
  • Find out if minor changes to armored schedules would lower cost.
  • Remember the importance of physical safety.

After the article was published, several other considerations came to mind:

  • Where do you go for help? List the possible issues (recon., missed stops, equipment failure, deposit discrepancies, etc.)
  • When the government issues a new series of notes, how will your technology be upgraded? At what cost?
  • We live in a web-based world. What tools are at your disposal to make it easier to get information like audit trails?
  • What’s the back-up plan? Have you built redundancy into your design?
  • Is the solution scalable? If cash volume increases 50% over the system’s life, what has to be done to accommodate the growth?

You will never have all the answers. As Colin Powell, in his “18 Lessons for Leaders” said, “Once the information is in the 40 to 70% range, go with your gut.” Careful planning and brainstorming will move the percentages in your favor.

Are you asking all the right questions?

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