Glory Vertera 6G Cash Recycler vs CIMA 7016 Cash Recycler

Why should I automate with a cash recycler?

Sure cash recyclers can be big investment for a small to mid-size financial institution. That's exactly why it's important to get the facts, count the cost, and understand the benefits returned. Did you know that a cash recycler offers the capacity to cover the labor of nearly 1.5 employees? Increased cash management efficiency is the biggest advantage that cash recyclers offer financial institutions. When banks and credit unions select the right machines to meet their needs, a cash recycler can actually pay for itself in short order (18-24 months or less).

What kind of ROI (return on investment) can I expect?  What kind of results can a small to mid-sized financial institution expect?

Cash recyclers can dramatically reduce operating expenses and speed up cash-in and cash-out transactions. They also reduce cash levels in drawers, reducing exposure and can eliminate the need for cash drawers altogether.

Here's what you can expect a cash recycler to do:

• Automate both sides of cash transactions
• Manage cash inventory
• Reduce or eliminate balance discrepancies
• Maximize the value of employees where they are most useful – with customers instead of handling cash

Institutions have reported 30% to 50% efficiency gains with the use of a cash recycler. When it comes to time-consuming vault transactions, a cash recycler manages the process in single control what can typically take two employees 10-20 minutes to accomplish. The cash recycler also saves an average of 35 seconds per cash-out transaction, which is great for those peak times when the lines are backing up.

Whether a financial institution is looking to change its customer experience format, or is positioning for growth cash recyclers are an investment that makes good business sense. The biggest question remains, "Which cash recycler makes the most sense for your institution?"

DARE TO COMPARE

Carefully assess your needs and how the right cash recycler will integrate with the software structure and physical workflow of your banking processes in order to determine where you will receive the best value per dollar spent. Consider how each machine will function for your employees and how it will accommodate improved customer service. While this ROI may not appear as obvious on a spreadsheet, considering these important issues may ultimately make the biggest difference in the long run. A little investigation prior to purchase can pay huge dividends -- not only in terms of actual money saved, but also in terms both of customer and employee satisfaction.

The Glory Vertera 6G versus the CIMA 7016

Vertera 6G Cash Recycler: PROS

• All cash is dispensed from a secure safe
• No need to sort, count or dispense bills – they are immediately verified and sorted by denomination
• User indicator lights allow two tellers to use the cash recycler at one time
• Simple USB or network integration
• Sharp machine design with a small footprint
• Additional Capacity over 5G model(600 notes per RSM now)
• USB, LAN Native connectivity
• Ability to use as a discriminator for cash deposit counting
• More direct integrations available in the market
• 300 notes per bundle feed versus 150 notes before
• Color Touchscreen interface
• Smaller footprint compared to 5G

Vertera 6G Cash Recycler: CONS

• Capacity = still only up to 4,800 notes based on configuration
• No continuous feed functionality – delay of 30-60 seconds in between each bundle – larger deposits take a lot longer than CIMA
• Software controlled RSM capacity can lead to overfilling and downtime on unit
• In order to compensate for overfilling, you can further reduce capacity hurting the overall effectiveness of the unit in the market
• Currency can curl being RSM based
• Pricing is top of market at $40,000+

CIMA 7016 Cash Recycler: PROS

• All cash dispensed from a secure safe
• Extremely high capacity = 9,600-11,200 notes
• No need to sort, count or dispense bills – they are immediately verified and sorted by denomination
• Continuous feed functionality – Allows for fastest processing of larger deposits
• Easy jam clearance
• Superior functionality – fewest times of replenishment or emptying process
• Advanced authenticity technology – BV5000 sensor is best of breed
• The same company sells, installs and services the equipment – backed by certified training
• Capacity is hardware controlled, eliminating possibility of overfilling
• Pricing is in the high $20,000s to mid $30,000s with coin and integration

CIMA 7016 Cash Recycler: CONS

• Simple, practical design
• US Installation base – newer product to US market so smaller reference base
• Currency can be slightly curled do to RSM storage system

Use your people where they are needed most

From a practical financial standpoint, cash recyclers make perfect sense for credit unions and small to mid-size banks. They become the behind-the-scenes workhorse to perform the important but often monotonous function of processing, verifying and securing cash. That's why the biggest advantage any financial establishment will realize with the addition of a cash recycler is greater efficiency of labor and enhanced productivity. Select the right machine and you will free up your staff to do what they do best; address the more complex issues of your customers that require and deserve direct contact with your employees.

Cash Recyclers: Glory Vertera 6G VS The CIMA 7016 Recommendation

Glory has improved the Vertera 6G over its previous 5G technology.  The addition of a screen and additional capacity are nice features.  Still, if you are looking for superior capacity, speed of operation and shortened ROI, the CIMA 7016 is probably the pick for you. If you are looking for someone who has lots of units installed already in the US market then the Vertera 6G is probably the safe choice for you.