IMX provides proven sophisticated software solutions for financial businesses engaged in the wholesale trade of banknotes and precious metals; both directly to retailers and to other national or regional banks that act as agents for smaller clients.
Our solutions are geared to automating and integrating dealing room, back-office inventory and settlement and vault management, as well as management operations such as:
- Tracking transaction costs, deals and market rates
- Managing standing settlement instructions
- Monitoring overall position and risk exposure
- Tracking profitability across the trading scope
- Enabling distribution hub transactions, inventory trading and monitoring
Wholesale bank note and precious metal trading is a specialised business due to the need to hold physical commodities and transport them between counterparties. As well as the efficient management of the trading desk, it is important to effectively manage physical inventory – how much is on hand, how much is in transit, what is the foreign exchange exposure at any point in time. There is also the logistical component of shipping valuable cargoes and the associated effect on the profitability of a trade.
An IMX solution manages all these aspects of the business in a single integrated system, bringing together the trading desk, vault management and back office so that all aspects of the business can work in a co-ordinated manner to streamline processes.
IMX currency distribution solutions are designed to assist and support travel money organisations with a scalable and robust e-business back office solution which automates the order fulfilment and inventory management from any distribution channel. IMX’s integrated solutions are designed to enable the electronic processing, fulfilment and management of currency orders electronically, specifically to:
- Order, manage and fulfil inventory distribution for retail delivery
- Establish interfaces with product suppliers (e.g. cash, travellers cheques)
- Support straight-through processing
- Accept orders from IMX’s product suite, retail branch networks and online ordering systems
- Manage product information and delivery rules through centralized administration
- Facilitate branch replenishment as well as customer orders
- Support the creation and distribution of pre-pack products
- Manage vault inventory
Retail fulfilment operations usually involve processing large amounts of orders each day, many of which will be sent to similar destinations, for example to the same branch for customer pick up. It is important that the fulfilment operation uses a sophisticated vault management and distribution system, to ensure maximum efficiency in the pick/pack and distribution process. The system should make best use of available foreign exchange inventory to fulfil as many orders as possible and optimise delivery costs – for example all orders going to one branch should be packed and dispatched in the same truck to minimise transport costs.
In an organisation with multiple selling channels, such as web sites and point-of-sale, orders may reach the distribution centre from various sources, and the distribution system must be flexible enough to process each type of order correctly.
An IMX distribution solution is tightly integrated with wholesale and retail ordering systems, for processing orders from both stockist and non-stockist sources. It is flexible enough to be able to process pick & pack orders from third party systems with minimal integration.