Ticking all the boxes
ANZ Bank has achieved significant annual savings since involving ADT Armourguard in a business improvement project to reduce cash handling and storage costs.
The bank was concerned about the significant funding costs involved in holding large amounts of cash at its hundreds of branches and ATM machines. Although sufficient cash always needs to be on hand to meet customers’ needs, the bank wanted to avoid holding more money than necessary.
A review was conducted using the Lean Six Sigma methodology, with ADT Armourguard providing a Six Sigma ‘black belt’ to assist. The project resulted in ADT Armourguard, rather than ANZ Bank staff, servicing and loading ATM machines. This means all money is taken to, and supplied via, centralised ADT Armourguard facilities.
A 'just in time' service was also developed that ensures enough cash was available for distribution to customers, enabling the bank to reduce the front line cash holdings.
The project’s results have been impressive:
• greatly improved cash flow efficiencies, with cash holdings dropping by more than a third against a back drop of increased distribution outlets (i.e.. branches and ATMs)
• a flexible solution for every site, with regular reviews to ensure efficiencies are maintained
• reduced cash holdings risks
• bank employees spend less time handling cash
• significant bottom line savings year on year
• a continuous improvement environment where improvements are made on an ongoing basis.
What is Six Sigma?
Six Sigma is a business improvement programma that benefits Armourguard and other Tyco businesses through:
• increased customer satisfaction• less time spent on routine processes
• fewer mistakes.
This usually leads to:
• cost savings and or revenue growth
• finding new ways to keep customers and get new ones
• building our reputation providing high quality products and services.
Auckland, Building 1, Central Business Park,
666 Great South Road, Penrose, Auckland
PO Box 2439, Shortland Street, Auckland 1140
Freephone: 0800 111 238
Phone: 09 580 6400
Fax: 09 580 6475