Cloud-based cash inventory management for on-premises cash handling devices
Various embodiments are directed to systems and methods for remotely monitoring cash reserves within a plurality of cash handling devices, and for automatically initiating change orders to maintain optimal levels of cash reserves within those cash handling devices. Certain embodiments remotely monitor closing transaction data received from those cash handling devices. Based at least in part on portions of data reflected within the closing transaction data, retrieve historical usage data relating to a forecast period; generate a usage forecast for the forecast period, and based on the generated usage forecast and the closing transaction data, generate message data for transmission to external systems to facilitate the maintenance of optimal cash reserves within those cash handling devices.
1. A system for cash handling device operation management, the system comprising one or more non-transitory memory storage areas and one or more processors collectively configured to:
remotely monitor closing transaction data generated by at least one cash handling device, wherein the closing transaction data reflects physical cash movement within a corresponding cash handling device for one or more of a plurality of cash denominations during an activity period;
store, for each of the plurality of cash denominations, data identifying a defined quantity associated with each of the plurality of cash denominations;
based at least in part on data reflected within a portion of the closing transaction data, query a historical usage database to retrieve historical usage data relating to one or more forecast periods;
generate usage forecast data for the one or more forecast periods for each of the one or more of the plurality of cash denominations for the corresponding cash handling device;
determine, based at least in part on the closing transaction data and the usage forecast data, a forecast quantity of each of the plurality of cash denominations within the cash handling device during each of one or more forecast periods;
compare the forecast quantity of each of the plurality of cash denominations during each of the one or more forecast periods against the defined quantity corresponding to each of the plurality of cash denominations; and
upon determining that the forecast quantity of one or more of the plurality of cash denominations of at least one of the one or more forecast periods does not satisfy the defined quantity, generate, based at least in part on the usage forecast data for the one or more forecast periods and the closing transaction data for the corresponding cash handling device, message data for transmission to one or more external systems to initiate a cash transfer involving the corresponding cash handling device to maintain the defined quantity of each of the plurality of cash denominations within the corresponding cash handling device.
2. The system for cash handling device operation management of claim 1 , wherein the defined quantity is generated based at least in part on the historical usage data related to the one or more forecast periods and one or more manual adjustments relating to the one or more forecast periods.
3. The system for cash handling device operation management of claim 2 , wherein the defined quantity is generated for each of the plurality of denominations, and wherein the defined quantity for each of the plurality of denominations is a sum of a cash advance for the cash handling device, a manual adjustment for the cash handling device, and a total funds within one or more tills associated with the cash handling device.
4. The system for cash handling device operation management of claim 1 , wherein generating the message data comprises determining a cash transfer date to satisfy the defined quantity for each of the one or more forecast periods, and wherein the cash transfer date is selected based at least in part on one or more of: previously scheduled cash transfer dates, scheduled bank holidays, or cash handling device accessibility.
5. The system for cash handing device operation management of claim 1 , wherein remotely monitoring the closing transaction data comprises periodically receiving closing transaction data from each of the at least one cash handling device.
6. The system for cash handling device operation management of claim 1 , wherein the one or more forecast periods comprise at least one day occurring after the activity period.
7. The system for cash handling device operation management of claim 6 , wherein the one or more forecast period comprises a first forecast period and a second forecast period occurring after the first forecast period, wherein the first forecast period and the second forecast period are consecutive days.
8. The system for cash handling device operation management of claim 7 , wherein determining a forecast quantity of each of the plurality of cash denominations within the cash handling device during the second forecast period comprises determining the forecast quantity of each of the plurality of cash denominations within the cash handling device based at least in part on the forecast quantity of each of the plurality of cash denominations within the cash handling device after the first forecast period and the forecast usage during the second forecast period.
9. A computer-implemented method for cash handling device operation management, the method comprising:
remotely monitoring closing transaction data generated by at least one cash handling device via one or more processors, wherein the closing transaction data reflects physical cash movement within a corresponding cash handling device for one or more of a plurality of cash denominations during an activity period;
storing, for each of the plurality of cash denominations, data identifying a defined quantity associated with each of the plurality of cash denominations;
based at least in part on data reflected within a portion of the closing transaction data, querying a historical usage database via the one or more processors, to retrieve historical usage data relating to one or more forecast periods;
generating, via the one or more processors, usage forecast data for the one or more forecast periods for each of the one or more of the plurality of cash denominations for the corresponding cash handling device;
determining, based at least in part on the closing transaction data and the usage forecast data, a forecast quantity of each of the plurality of cash denominations within the cash handling device during each of one or more forecast periods;
comparing the forecast quantity of each of the plurality of cash denominations during each of the one or more forecast periods against the defined quantity corresponding to each of the plurality of cash denominations; and
upon determining that the forecast quantity of one or more of the plurality of the cash denominations of at least one of the one or more forecast periods does not satisfy the defined quantity, generating, via the one or more processors and based at least in part on the usage forecast data for the one or more forecast periods and the closing transaction data for the corresponding cash handling device, message data for transmission to one or more external systems to initiate a cash transfer involving the corresponding cash handling device to maintain the defined quantity of each of the plurality of cash denominations within the corresponding cash handling device.
10. The computer-implemented method for cash handling device operation management of claim 9 , wherein the defined quantity is generated based at least in part on the historical usage data related to the one or more forecast periods and one or more manual adjustments relating to the one or more forecast periods.
11. The computer-implemented method for cash handling device operation management of claim 10 , wherein the defined quantity is generated for each of the plurality of denominations, and wherein the defined quantity for each of the plurality of denominations is a sum of a cash advance for the cash handling device, a manual adjustment for the cash handling device, and a total funds within one or more tills associated with the cash handling device.
12. The computer-implemented method for cash handling device operation management of claim 9 , wherein generating the message data comprises determining a cash transfer date to satisfy the defined quantity for each of the one or more forecast periods, and wherein the cash transfer date is selected based at least in part on one or more of: previously scheduled cash transfer dates, scheduled bank holidays, or cash handling device accessibility.
13. The computer-implemented method for cash handling device operation management of claim 9 , wherein remotely monitoring the closing transaction data comprises periodically receiving closing transaction data from each of the at least one cash handling device.
14. The computer-implemented method for cash handling device operation management of claim 9 , wherein the one or more forecast periods comprise at least one day occurring after the activity period.
15. The computer-implemented method for cash handling device operation management of claim 14 , wherein the one or more forecast period comprises a first forecast period and a second forecast period occurring after the first forecast period, wherein the first forecast period and the second forecast period are consecutive days.
16. The computer-implemented method for cash handling device operation management of claim 15 , wherein determining a forecast quantity of each of the plurality of cash denominations within the cash handling device during the second forecast period comprises determining the forecast quantity of each of the plurality of cash denominations within the cash handling device based at least in part on the forecast quantity of each of the plurality of cash denominations within the cash handling device after the first forecast period and the forecast usage during the second forecast period.
17. A computer program product comprising a non-transitory computer readable medium having computer program instructions stored therein, the computer program instructions when executed by a processor, cause the processor to:
remotely monitor closing transaction data generated by at least one cash handling device, wherein the closing transaction data reflects physical cash movement within a corresponding cash handling device for one or more of a plurality of cash denominations during an activity period;
store, for each of the plurality of cash denominations, data identifying a defined quantity associated with each of the plurality of cash denominations;
based at least in part on data reflected within a portion of the closing transaction data, query a historical usage database to retrieve historical usage data relating to one or more forecast periods;
generate usage forecast data for the one or more forecast periods for each of the one or more of the plurality of cash denominations for the corresponding cash handling device;
determine, based at least in part on the closing transaction data and the usage forecast data, a forecast quantity of each of the plurality of cash denominations within the cash handling device during each of one or more forecast periods;
compare the forecast quantity of each of the plurality of cash denominations during each of the one or more forecast periods against the defined quantity corresponding to each of the plurality of cash denominations; and
upon determining that the forecast quantity of one or more of the plurality of the cash denominations of at least one of the one or more forecast periods does not satisfy the defined quantity, generate, based at least in part on the usage forecast data for the one or more forecast periods and the closing transaction data for the corresponding cash handling device, message data for transmission to one or more external systems to initiate a cash transfer involving the corresponding cash handling device to maintain the defined quantity of each of the plurality of cash denominations within the corresponding cash handling device.
18. The computer program product of claim 17 , wherein the defined quantity is generated based at least in part on the historical usage data related to the one or more forecast periods and one or more manual adjustments relating to the one or more forecast periods.
19. The computer program product of claim 18 , wherein the defined quantity is generated for each of the plurality of denominations, and wherein the defined quantity for each of the plurality of denominations is a sum of a cash advance for the cash handling device, a manual adjustment for the cash handling device, and a total funds within one or more tills associated with the cash handling device.
20. The computer program product of claim 17 , wherein generating the message data comprises determining a cash transfer date to satisfy the defined quantity for each of the one or more forecast periods, and wherein the cash transfer date is selected based at least in part on one or more of: previously scheduled cash transfer dates, scheduled bank holidays, or cash handling device accessibility.
21. The computer program product of claim 17 , wherein remotely monitoring the closing transaction data comprises periodically receiving closing transaction data from each of the at least one cash handling device.
22. The computer program product of claim 17 , wherein the one or more forecast periods comprise at least one day occurring after the activity period.
23. The computer program product of claim 22 , wherein the one or more forecast period comprises a first forecast period and a second forecast period occurring after the first forecast period, wherein the first forecast period and the second forecast period are consecutive days.
24. The computer program product of claim 23 , wherein determining a forecast quantity of each of the plurality of cash denominations within the cash handling device during the second forecast period comprises determining the forecast quantity of each of the plurality of cash denominations within the cash handling device based at least in part on the forecast quantity of each of the plurality of cash denominations within the cash handling device after the first forecast period and the forecast usage during the second forecast period.