PROJECT OVERVIEW
Emorphis Technologies developed a Cash Management System (Cashmap) to address the challenges faced by small banks and financial corporations in managing their daily cashflows. The solution aimed to reduce risks, minimize costs, and maximize profits by efficiently managing cash flow.
ABOUT THE CLIENT
Challenges
The client was a small bank in India, lacking its own currency chest facility, which made cash management complex and time-consuming. They relied on tied-up banks or their individual chest for cash requirements.
The client faced difficulties in accessing cash quickly and efficiently due to the absence of a Currency Chest. They incurred extra overhead costs for keeping excess cash in other banks’ chests and struggled with managing cash transfers between branches.
OUR SOLUTION
Emorphis Technologies developed a web-based secured Software-as-a-Service (SaaS) platform called Cashmap. This solution allowed the client to manage their daily cash management effectively while saving costs on excess cash storage. The platform facilitated demand and supply matching of excess cash among different branches of the bank, optimizing cash utilization. It also provided analytics and forecasting capabilities for better decision-making.
Benefits Delivered
Emorphis Technologies successfully implemented Cashmap, a web-based Cash Management System, for a small bank in India. The solution streamlined cash management, reduced costs, and provided analytics capabilities. By leveraging advanced technologies and secure data exchange mechanisms, Emorphis Technologies ensured the availability and reliability of the platform. The client achieved greater efficiency and profitability in their cash management operations, positioning themselves for future growth in the Indian banking market.
- Enhanced Cash Management: The client gained full control over their cash flows and eliminated concerns about their current cash situation.
- Cost Reduction: By leveraging excess cash from their cash holding limit and avoiding the need for external currency chests, the client saved on overhead expenses.
- Efficient Cash Transfer: Cashmap streamlined cash transfers between branches, reducing time, effort, and expenses associated with manual transfers.
- Analytics and Forecasting: The platform provided data analysis and reporting features, enabling the client to make informed decisions and plan for the future.
Technology Used
- Java, Spring, Hibernate, Servlets, JSP, and JSTL for application development.
- Oracle 12C database for data storage.
- Oracle WebLogic Server 12 for hosting the web application.
- Birt as a reporting tool for generating insights and reports.
About Emorphis
Emorphis Technologies is a world-class software development and solutions company that truly believes in “Innovation in motion”. Delivery innovation on the go at an accelerated pace has been our success mantra to date. Over the years we have provided value to our clients in the field of enterprise mobility, cloud, IoT, backend development, Big Data Analytics, and Blockchain.
We serve industries ranging from unicorns, and startups to large multinationals in the healthcare, telecommunications, fintech, retail, and publishing industry. Our go-to-market software products – iStatement, iPublisher, and iBuggy have proved our metal with positive beneficial customer testimonials. We help our clients with successful product development, consulting services, and testing (manual & automated).
We have profound experience & expertise in various technologies like .Net, J2EE, PHP, iOS, Android, and Cloud Computing viz. Amazon Web services (AWS), Software QA & testing (Manual & Automation). Our designed products are cloud-ready and can be readily deployed on AWS/Azure cloud infrastructure.
Our pivot on engineering innovation and R&D helps quicken time-to-market, ensuring high quality at economies of scale, delivering cult competency for the global marketplace. We ensure that your ideas, concepts, and requirements are backed by brilliant execution at our end. Having said that we extend end-to-end ownership of product/application design, development, and deployment.
