Learn about actual and potential costs
How much should I pay for Cash Vault Services?
What is the average price of Cash Vault Services?
This procurement report includes pricing information to help you purchase Cash Vault Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Cash Vault Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Cash Vault Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Cash Vault Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Cash Vault Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
Among the estimated 5,500 providers of cash vault services, the top four players account for less than 30.0% of total revenue across the market, indicating a low level of concentration. The majority of operators are regional banks that service local clients in order to ensure quick, efficient exchanges of cash.... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
What commercial banking or cash management services do you provide in conjunction with cash vault services?
What price reductions do you offer when services are bundled?
What package of services do your clients typically purchase together?
Do you sell cash vault services on its own?
What new products or solutions have you introduced to address issues brought on by the coronavirus pandemic?
How long has your company offered cash vault services?
How long has your company offered cash vault services to my industry?
Can you provide references from clients that are similar to my business?
What is your client turnover rate?
How many employees will be servicing this account and what are their roles?
What qualifications do your account representatives have?
What kind of training have your employees received or will receive during the contract span?
What process do you take to check employee backgrounds?
Amid widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees?
Has your company been involved in any fraud litigation? If so, please describe the nature of the litigation.
What steps does your company take to prevent fraud?
To what extent does your company limit which employees can handle cash?
What processes do you have in place to deal with fraud complaints?
Will there be a dedicated support contact?
How quickly do you respond to customer service requests?
Is technical support separate from general customer support?
Do you offer online support?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle changes in demand?
Organization of Currency
Do you allow the depositing of unstrapped cash and unrolled coins?
What premium do you charge for the depositing of unstrapped cash and unrolled coins?
Do you also process checks?
Do you allow the deposit or withdrawal of any foreign currencies?
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Key elements for every RFP
What should my RFP include?
Buyers should include the budget for the contract, if relevant.
Vendors should include a pricing schedule outlining their various fees.
Buyers should evaluate vendors on the qualifications of the vendor and staff.
Buyers should evaluate vendors' ability to meet the scope of the work.
Buyers should evaluate vendors based on their projected costs.
Buyers should evaluate references from vendors' previous clients.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the date when proposals are due and any other relevant dates (e.g. presentations or final interviews) prior to the contract award.
Buyers should include the date when the contract begins and ends.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain risk for cash vault services is low. Providers of cash vault services source inputs from many upstream suppliers, including vault manufacturers, database, storage and backup software publishers, security service providers and commercial leasing firms. The markets for these inputs exhibit a widespread distribution and strong competition, which... Subscribe to learn more.