Cashspire

How Cashspire works

Cashspire gives three types of stakeholders access to the data from cash deposit terminals:

1. Terminal operators, who are primarily interested in financial metrics – i.e., how much cash has been deposited in each machine. They have the data from all their terminals in one place and can access it from anywhere in a unified way, including common reports over machines from different manufacturers.
2. Service organizations that maintain the machines (in the Czech market, Bankovní technika). They monitor the technical condition of the terminals and their mechanical faults in real time, which allows them to optimize the dispatching of field service technicians.
3. Security agencies (CIT), which transport the cash from the deposit terminals to the banks. They monitor the fill levels of individual containers in the machines and their current weight, so they can schedule the cash collection dynamically depending on the actual fill levels of the terminals rather than periodically.

Product history

We started developing Cashspire in 2016 (originally under the legal entity that preceded today’s MC7). The development started with a two-week proof-of-concept, and only 3 months after the initial idea, we launched the first version of the product. To get the product to market in such a short time, we followed the MVP (Minimum Viable Product) approach. We manage the development using the Scrum methodology and our proven agile practices.

Although the first version still lacked refinement, its commercial viability became apparent very quickly thanks to the deep market knowledge brought by our partner Bankovní technika. The ability to create a common report over machines from two different manufacturers was something unheard of until then.

Since then, we have been continuously developing Cashspire and operating it as SaaS.

Technology & security

We designed Cashspire from the beginning as a cloud-first application that we run in the Microsoft Azure cloud environment. The solution also includes software that runs directly on the computers inside the cash deposit terminals. During the development, we have also addressed the specific requirements of customers with very strict security needs, such as banks.