5 Pain Points of an ATM Service Company
All companies have pain points which make completing work harder than it needs to be and this can be especially true for organisations in the ATM industry.
Hectic schedules, fluctuating demand and supplier inconsistencies are just a few of the issues which can arise when working to maintain an estate.
Here, we will be highlighting five of the most frustrating pain points for ATM service companies.
1. Scarcity of Parts
If your business deals with older or legacy ATM models, it can often be hard to find specific parts to service your fleet due to a lack of demand causing them to become increasingly scarce.
Although an old ATM can pose issues in sourcing rare parts this is also true of newer ATM models. Parts may not be available in sufficient quantities in brand new ATM models as the chart demonstrates.
If a company continuously fails to source the right parts, they can find it difficult to effectively maintain a customer’s ATMs and this can result in increased downtime.
Obtaining hard to source parts often entails considerable turnaround times due to the regular need for international suppliers.
Even if you are able to locate the right part, delivery times can still become a hindrance and prevent your company from meeting service level agreements.
2. Dealing with Multiple Suppliers
It is common for companies in the ATM industry to use multiple suppliers in order to meet their ever-changing demand and obtain the best turnaround times for their projects.
Dealing with several suppliers at the same time also makes communication more difficult and time consuming and it can also be hard to understand which products/services each company provides at all times.
This causes operational problems as well as making administration more complicated than it needs to be i.e. sourcing products, processing invoices, raising Purchase Orders and managing the order process. On occasions companies are using in excess of five suppliers.
A single supplier is less likely to cause delivery or stock-related issues.
The success of many service contracts is defined by a company’s ability to meet certain levels of uptime and this can often be upwards of 99%.
Downtime causes ATM operators to become dissatisfied and potentially leave to use a competitor company who can provide a more reliable service.
Downtime is a tricky issue to deal with as there are so many variables which can cause damage and failures to occur within the machines.
Ensuring your engineers have access to a reliable supply of high quality parts, tailored training and diagnostic tools helps to minimise downtime.
In addition to this preventative maintenance keeps your downtime within the limits required.
4. Inventory Obsolescence
As the industry progresses and more advanced technologies are introduced, older ATM models will inevitably become less common.
Whilst this is great news for end users, ATM service companies can find it difficult to cope with inventory becoming redundant. Obsolete components can take up storage space unnecessarily and even lead to a loss of capital if they are never used.
This issue can be alleviated by using managed inventory services to avoid purchasing excessive quantities of stock as well as help guarantee a consistent supply of components in a timely manner.
In addition, the effective implementation of preventative maintenance can help you to lessen your dependence on holding large inventories of parts which can potentially harm the business if not used.
This style of maintenance helps to prevent ATMS from failing by completing proactive maintenance rather than relying on simply responding to eventual breakages which can happen over time.
An issue which is sure to be on the mind of every Managing Director, profitability is something which every company must place an emphasis on in order to survive.
This pain point can be considered a culmination of the previous 4 areas; however, there are of course many other aspects which can impact upon a business’s performance.
Financial relief gained by purchasing budget parts, whilst initially beneficial, may not be the optimum way to utilise your budget.
Investing more of your business’s capital in premium components will naturally cost more in the short term, however, the increased uptime this route affords certainly makes this the more profitable option.
This is just a small selection of the many problems which ATM service companies can face on a daily basis.
Addressing these issues, as well as any others which are present in your company, will help you to increase the efficiency of staff, deliver superior service to your customers and become more profitable.
Learn how TestLink’s ATM services can help reduce the pain in your business by contacting us.