Expense Management

Expense Management

September 13, 2012

NCR Takes Over Transoft International

NCR Corporation recently acquired Transoft International Inc., an innovative cost management software company. NCR hopes the transaction will combine Transoft's software and SaaS (News - Alert) -based product suite, and used into its financial services to boost NCR's existing cash management offering.

NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of financial, retail, travel, gaming, hospitality, telecom and public sector and equipment organizations in over 100 countries.

Transoft International, Inc. provides management solutions for wide-ranging, global clientele that include banks, retailers, ATMs, vaults and other branches of banking services. Its cash cost optimization solution is known to reduce cost-handling expenditure and provide outstanding solutions for optimizing cash-cost largely for traders and bankers.

The takeover of the Transoft, places NCR as a forerunner in the currency running services. Together with the SaaS supported product group, the joint venture is expected to contribute to the overall success of NCR’s financial services unit. NCR hopes that the acquisition will increase the customer satisfaction banking techniques for incorporating standard business procedures within the company.

The combined hardware, software, and services-oriented business solutions will manage and upgrade existing cash management expertise to the fullest.

The beneficiaries of this purchase are the retailers and financiers and the JV is expected to place NCR among top contending banking solution providers. The cost-optimization software solutions combine varied tools for enhancing the banking outlook of the monetary establishments, imparting knowledge and bank-power to traders.

According to Peter Leav, executive vice-president of NCR, the reason behind the company’s acquisition of the leading Transoft Cost Optimization Software Company is to cater to the rising demand of banking technology management for providing reinvented customer experience – coupled with branch transformation and intelligent deposit schemes.

The NCR spokesperson also reiterated the growing banking atmosphere as the cause for difficulty in managing cash. Transoft International is the firm’s solution for integrating advanced technology to create an exclusive and convincing cash-management working solution.

Bo H. Holmgreen, president and chief executive officer at Transoft, felt that the time had come to spread Transoft’s global reach and that the present dealings with NCR has given way for such a collaborative venture. With its employees working to deliver software solutions in mutual association with NCR’s hardware intelligence, the current move is seen as a winner in terms of customer services, in the financial sector.

Formulating effective measures of cost management will help ATMs to deliver superior results with reduced cash handling costs. This could mean a saving of anywhere from $3,000 to $10,000 annually for each division.

NCR’s vision for epitomizing cost management technology for meeting the requisites of all involved in the fiscal zone of banking business is a commendable effort, placing financial bodies on par with other trade-related industries across the world.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.

Edited by Braden Becker

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