Eurotech (Udine, Italy) and Mondialpol Service (Milan, Italy) last Monday announced the finalization of an agreement for the real-time monitoring of deliveries and withdrawals of cash via cloud computing thanks to "Cloud Ready" mobile devices from Eurotech. The agreement will aim to improve the service level provided to the Intesa Sanpaolo Group (Turin, Italy), making cash transport and counting more efficient and increasing security standards.
The crews of armored trucks of all 130 cash transport companies involved in the contract will be provided with a portable Eurotech HRC4200 device, which enables the barcodes on the money bundles to be read at the moment of delivery, identifying the time, type of operation (withdrawal/delivery), the branch at which the operation is taking place, the GPS position that can be viewed on a map, and the security guard and the contact person at the bank conducting the operation, with an option for the bank contact person to digitally sign directly on the Eurotech device.
Eurotech's partnership with the Mondialpol group is intended to transform the cash transport sector.
Another element is the "Device-as-a-Service" (DaaS) supply model, which is a scalable financial model that lets customers pay only a predictable monthly fee for the data and services that are provided. According to Eurotech, this will enable Mondialpol to purchase the Eurotech application by paying a monthly fee for a period of three years for each device that will be put into service during 2011.
According to Mondialpol, although the contract is worth less than €1 million a year, the agreement in itself is important for the company, in that it shows the development of a technology with potential application in different sectors, which could subsequently lead to further volume orders.
According to Mondialpol, Eurotech's "Device-to-Cloud" technology allows value-added data generated in a distributed way by all the different portable devices to be collected and conveyed securely in real time to the Cloud infrastructure. In Cloud there is a controlled access to data, enabling everyone to see or manage the data for which they are responsible; and data of interest can then be downloaded from the Cloud to Mondialpol Service's management system, so that it can be integrated with the information produced by the rest of the process.
"We chose Eurotech's Device-to-Cloud technology for its capacity to manage data directly in cloud computing, given that we expect between 12,000 and 15,000 bundles a day to be exchanged with Intesa Sanpaolo. We calculated that we conducted around 900,000 transport operations last year, and when we saw these numbers, we immediately became concerned about how to manage such a quantity of data without our system feeling the effects," explained Fabio Mura, Chief Executive Officer and Executive Chairman of Mondialpol Service S.p.A.. "Now that we want to electronically certify deliveries in order to monitor service levels in real time, and are planning to manage service billing more automatically, we are counting on Eurotech to provide data transmission, collection and management capacities, key factors in enabling all the functions that we need."