Realising the value of data

2 June 2016

United Kingdom

Vanessa Broome

Glory Global

Realising the Value of Data

The global financial industry is in a heightened state of change today. Proliferation of channels, government regulations, internal and customer accessed technology, operating costs, capital investment choices, general and competitive business challenges are everyday, and real-time.

Financial institutions need to differentiate themselves by finding unique, value-added services and delivering exceptional experiences for their customers in order to gain a competitive advantage. Offsetting this, of course, is an equal desire to control costs and reduce ‘back office’ functions, while improving efficiencies and increasing revenue.

Cap Gemini recently published a report that states 61% of respondents to their survey “acknowledge that big data is now a driver of revenues in its own right and is becoming as valuable to their businesses as their existing products and services.” As data becomes more valuable to organisations, the challenge is finding the best means to access, manage and analyse it to drive informed decision-making. The volume of data is growing exponentially but many organisations lack the proper tools to process such volumes in order to gain real business insight.

Data is everywhere

Data is everywhere: transactional data, big data, cloud data, decentralised data, governed data. With the ever-growing demand to analyse data, automated software solutions are essential, as they enable presentation of this data for interactivity  and decision-making.

Data does not provide insight; that requires information and data only becomes information when it is processed into a usable form. Information is data that is 1. accurate and timely, 2. specific and organised for purpose, 3. presented within a context that gives meaning and relevance and 4. can lead to an increase in understanding. Information becomes "Intelligence" when it is coupled with business knowledge. Intelligence drives decisions about what to do in the future and leverages what can be learned from the information in the (recent) past.

The right information at the right time

Does your enterprise have the right information, at the right time, to make the right business decisions? A new generation of Business Intelligence tools is emerging and CashInsight™ Inform represents just one of these tools available from Glory. CashInsight Inform is a user-driven software solution which provides access to data regarding cash processed through teller and back office cash handling devices. Having a centralised view of multiple cash processing locations, and devices, allows cash processers to be proactive in their cash management decisions and reporting.

CashInsight Inform collects data from connected devices, which is then stored in a database at a centralised location. The required reports are defined in a web browser, using several variable parameters – the resulting information is presented in an intuitive graphical report for further analysis. With the ability to be deployed within one site, or across an entire network, CashInsight Inform is scalable to meet almost any customer requirement.

Realise the value of your cash management data with Glory’s CashInsight Inform business intelligence solution. For more information please download the brochure here or contact your local Glory sales representative.

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