Nationwide economic shifts in the wake of COVID-19 continue to impact Independent ATM Deployers (IADs). It is undeniable that the threat of COVID-19 has caused almost everyone worldwide to change their daily habits, and these shifts will not be short-lived. Almost every interaction the public has with a worker in the service industry has changed, potentially permanently. This change in interactions rings true for interactions with high-touch and/or high-turnover areas including ATMs as well, highlighting the importance of savings for the remainder of 2020 and beyond.
Three Key Areas to Lower ATM Operational Costs
Now is a prime opportunity to revisit your ATM operational costs and review where you could see cost savings.
Streamline Operations
Carefully review your standard procedures and ensure they are documented and implemented across your entire fleet. Evaluation of operations performance can oftentimes expose areas for improvement like maintenance schedules and cash handling. Streamlining operations can trim costs on travel, insurance and, of course, time.
Review Surcharge Fees
Surcharge fees vary widely based on geographical location. IADs who overcharge for their market can lose potential customers. Ensure you are charging an appropriate fee by comparing your surcharge pricing to competitors including banks.
Review Processing Fees
Many ATM processors add superfluous fees to their services. If you are experiencing monthly increases or do not fully understand your monthly fees, take the time to review your contract and speak to your ATM processor.
Consider EFX for ATM Processing
At EFX, our dedication to customer service has never wavered. Throughout the spread of COVID-19, EFX has remained open and processing for our valued clients. EFX is proud to stand by our promise of white-glove customer support, providing one-on-one service while driving results and minimizing spend.
If you would like to evaluate your current processing solution, or if you have any questions regarding cost savings, contact us today.