All About Cash Management

Simply put, cash management is the physical handling of the cash cycle, which involves collection, movement, processing, storage and deposition of banknotes.

Cash management helps a business meet its everyday cash flow requirements, preventing it from incurring debts. If cash is managed improperly, with inadequate and inconsistent amounts being deposited, businesses will find it difficult to run their day-to-day financial activities.

Cash management is an essential service for your company as it facilitates the cash collected at each of your outlets across India to be transported and banked on priority, making it available for use in shortest possible time. The blockage of funds is reduced to the minimum period. It also reduces your risk, as the movement and banking is handled by trained professionals, with core competency skills in handling cash.

Barring incidences like demonetization and the initial Covid-19 lockdown, cash isn’t slowing down. An economy like India is predominantly cash-based, with not enough network systems to replace cash with plastic or digital money entirely, especially as you visit Tier 3 and Tier 4 locations, penetrating deeper.

Radiant – Speed & Security

Yes. One of the key USPs of Radiant Cash Management Services is that the cash can be banked on the same day, or at best on the next working day, thereby facilitating adequate liquidity, available for use.

All the cash handled is comprehensively insured under an umbrella policy. We can also customise insurance plans depending on the client’s need and volume of business.

Our vaults are secured as per RBI guidelines with state-of-the-art security systems. This involves physical security in terms of armed guards, as well as electronic security systems in terms of close circuit cameras recording all activities 24/7. In addition, there are alarm systems to detect forced entry, and alert any intrusion of the premises to our risk management teams as well as the police authorities. This multilayer security system helps to mitigate the risk. Apart from this, all our vaults are covered by a comprehensive insurance policy.

Business continuity plans are in place to cater to all eventualities. These are practiced and tested regularly. This helps reduce and localise impact of such disasters and allows us to resume operations in quick time after the disaster is in control. Insurance also covers losses that may occur due to such disasters.

The cash vans are armoured, and always accompanied by highly skilled and trained professionals, from the driver to the handlers. They are compliant with RBI standards.

Our communication systems are backed by our strong technological team. Daily MIS and mobile / e-mail alerts are an inalienable part of our cash management services. Customers can track their cash movement and get feedback of its disposal on a real-time basis.

Technology and Automation

At the Radiant Group, we don’t just have an IT team, nor do we outsource our activities. We have our own, fully-functional, state-of-the art IT company, with an international presence – the RITS (Radiant Integrity Techno Solutions) – to handle advanced technological needs. This added benefit comes with the knowledge that your data is secure, with confidentiality being a key priority. We also develop and customise technological offerings to the extent that you want, giving you exclusive rights to the software.

We have mobile-based reporting systems for real-time, accurate information on the cash and valuables picked from client outlets. These include data transfer and pickup/delivery receipt image transfer, GPS-based tracking of cash vans with additional facilities of geo- fencing, distress alarm, remote immobilsing of vehicles and so on. We also offer QR code-based tracking and reporting of pickups and deliveries, making GIS location tracking and data transmission fully secure and accurate. We have multiple state-of-the-art mobile apps such as Radmus, Sandesh and Sambandh serving specific needs.

This tool has been developed on the Android OS to increase productivity, simplify operations, streamline processes, reduce paperwork, and increase revenue. Our custodians (agent representatives who collect cash on behalf of RCMS), use this to enable safe and secure cash collection and deposit. There is a mandate from the bank to collect cash from the client. Since the custodian has downloaded the app, the points where he needs to specifically pick up cash are mapped to his ID. The app maps the relevant custodians and gives details with a photo list to the customer outlet. This way, the outlet will know who is authorised to pick up cash from them. The app offers real-time updates, wherein one can keep track of scheduling and work allocation. As our back-end team gets updates, MIS can be sent out to customers. Large customers who want to track their cash pick-up through the day can be given a link to login, where they have detailed real-time access to data, restricted to and pertaining to their company only.

The RADMUS app quickly and securely captures the inbound documents that are correlated with RCMS, such as deposit slips, pickup and delivery slips wherever they are first available—whether from a central office from a customer’s place, a local branch office or remotely from a smartphone or tablet by a cash collection executive (CE). It converts the inbound documents into scanned images of digitized information for increased productivity and better data organisation

The Radiant Sambandh, a division of the Radiant Foundation, is a service created and dedicated to be in touch with and provide the necessary support to the next of kin (NOK) of physical casualties of the Armed Forces.