CARY, N.C. and LEIPZIG, Germany, March 16, 2011 /PRNewswire/ -- Transoft International announced today that it is teaming up with the ALVARA Cash Management Group in Germany by integrating Transoft's flagship product line, OptiSuite™, into the ALVARA Interactive Cash Control(ICC)™ system in compliance with all new directives of the European Central Bank and the German Federal Bank.
"Transoft's currency management products are successfully implemented by major financial institutions across the globe today, and through our partnership with ALVARA we are now able to not only provide substantial savings to our European customers but also ensure a total cash management cycle in line with all new governmental regulations. The benefits from CashEDI and our cost optimization rely on compliance and ALVARA furthers our abilities to anticipate and monitor events, thus identifying significant post-balancing cost reductions," stated Bo H. Holmgreen, President & CEO of Transoft.
Through the integration of the OptiSuite into ALVARA's ICC product both companies will be able to further cut operating costs for its customers solidifying an even stronger value proposition by providing optimal cash orders through advanced algorithms that take into account interest rates, events, calendars, CIT-Cost, insurance costs to name just a few. "The capability through OptiSuite for our customers to now have visibility not only into their cash movements through CashEDI, but also use cost simulation tools to create an advanced predictive decision process is just the beginning of the synergies our two companies are creating," add Bernd Hohlfeld, Chairman of ALVARA," Transoft will reside in ALVARA offices in Leipzig and we also look forward to expanding into new global markets through joint sales efforts."
ALVARA Cash Management Group AG is a service provider in the field of cash management. Competent specialists with extensive field experience founded the company with the aim to offer more security through transparency and higher efficiency through independence to all market participants. Together they use their extensive knowledge in the coordination and execution of cash transactions to analyse the causes of current security holes and to subsequently develop an efficient and risk-free holistic solution for everyone involved.
Transoft International, Inc. is the leading provider of currency supply chain management software solutions for the banking industry. Transoft products, OptiCash, OptiNet & OptiVault, have been developed by experienced cash management professionals to efficiently and cost-effectively handle all aspects of the complex cash management process. In use worldwide by Banks, ATM networks and Armored Car Service providers, Transoft solutions are generating significant recurring cost savings for ATM, branch and vault networks. These savings are the direct result of applying sophisticated statistical analysis, as well as balancing of all cost components daily, to determine the best course of action. With Transoft a bank can automate cash forecasting, ordering, tracking, monitoring & more to optimize currency requirements and handling costs, drastically reducing expenses and improving operational efficiency.
Transoft International Inc.
Phone 919-678-9192, ext. 06
SOURCE Transoft International