Check out some highlights from a recent Q&A with Rochester Armored Car about the benefits of the FedCash E-Manifest Service and how they worked with their financial institution customers to adopt it.
What is the FedCash E-Manifest Service?
- Replaces paper processes at Federal Reserve docks with electronic manifests.
- Enables electronic exchanges of data using API and barcode scanning technology.
- Is part of Cash Visibility, a joint industry initiative that aims to bring more transparency and efficiency to cash supply chain logistics.
How the E-Manifest Service improved operations for Rochester
- Saved time. Not having paper manifests means that Rochester’s crew spends less time at Federal Reserve docks.
- Created efficiencies. Electronic data about cash orders and deposits makes Rochester’s internal workflows more streamlined.
- Enhanced customer experience. Rochester used E-Manifest Service data to create an internal tool to share information about Federal Reserve Bank orders and deposits with their customers, who appreciate the added visibility.
- Allowed for innovation. The E-Manifest Service is a great starting point to develop new ideas from, like finding ways to develop file transfers among armored carriers and financial institutions.
The E-Manifest Service adoption process
- Education. Rochester invested time into understanding the requirements and benefits of the E-Manifest Service. They sought clarity on what they needed to do as an armored carrier, as well as how adopting the service would affect their financial institution customers.
- Federal Reserve support. The E-Manifest Service Readiness Program Team provided invaluable assistance, offering insights and support throughout the adoption process.
- Onboarding customers. Rochester took a proactive approach in onboarding their financial institution customers, providing one-on-one guidance, educational documents, and training on operational changes.
Advice about the E-Manifest Service for other armored carriers
- Communicate benefits clearly. Explain the advantages of the E-Manifest Service to internal operations teams and financial institution customers.
- Offer clear next steps. Provide financial institution customers with a straightforward path to adoption, supported by Federal Reserve resources.
- Use available resources. Connect with the E-Manifest Service Readiness Program Team for guidance and assistance.
ACTION ITEM: Inspired by Rochester's success? Complete an E-Manifest Service expression of interest form to start your journey toward enhanced cash logistics today.
