NCR Corporation (NCR), a technology company, recently completed the acquisition of Transoft International Inc., a company involved in cash cost optimization software for financial institutions and retailers.
According to the agreement, NCR will integrate Transoft’s software and SaaS (News - Alert)-based product suite and employees into its Financial Services line of business. The move will strengthen NCR’s existing cash management offering.
NCR Cash Management Solutions enable banks to achieve the right balance of cash in branches and throughout a bank’s ATM network to meet customer demand, while avoiding holding excess of cash that could be invested elsewhere.
Through a sophisticated, three-tiered approach of forecasting, optimization and automation, APTRA Cash Management positively affects all of the factors related to cash management, including forecasting, cost balancing, ordering, monitoring, expense tracking and more.
“The addition of Transoft’s solutions and experience will help NCR build a unique and compelling integrated cash management solution,” said Peter Leav, executive vice president of NCR. “As financial institutions continue to reinvent their customer experience through intelligent deposit and branch transformation, managing cash is becoming increasingly complex, making Transoft’s software an increasingly important opportunity.”
“The integration of Transoft’s software and SaaS offerings with NCR’s experience in ATM and branch technology and strategies will give our customers a unique source of innovative solutions,” he said.
“For 18 years, our partnership with NCR has been important to us and, with the current emerging technologies in cash recycling and central bank adaptations, I believe a new era has arrived for our industry,” said Bo H. Holmgreen, president and CEO at Transoft. “NCR’s size and reach will help us further grow our cost optimization solutions through worldwide coverage and support.”
NCR also recently announced that independent retailers now have access to NCR point-of-sale (POS) maintenance services through the network of distributors and resellers who market and sell NCR hardware and software solutions. This new offering allows channel partners to serve as a one-stop shop for their independent retail customers, to create more recurring revenue streams with those customers and allow smaller retailers to offer the POS uptimes, transaction efficiency and customer service their end-user customers demand.
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Edited by Braden Becker