Managed Print and M2 Intelligence for Vaultex UK

The Challenge

Vaultex is the UK’s largest cash processor with over 14 locations nationwide, and provides end-to-end cash management solutions, including coin extraction and seamless cash services.

They work in close collaboration with shareholders, the Bank of England and the Royal Mint to ensure cash is widely available. Retailers and other businesses rely on Vaultex to count their cash with the highest level of accuracy and settle their customer accounts against a 99.99% service level, which requires a high-level of accuracy and efficiency.

Key objectives for Vaultex are sustainable contract savings and top service level performance across their highly secure cash-centre and HQ environments. In order to enable employees to achieve these targets, Valutex focuses on giving them the best technology for the job, from high-speed note sorters through to fully managed services.

Vaultex had a fleet of print assets, comprising of a mixed range of makes and models, with only a few capable of the print volumes they required.

Departments managed their own supplies, and there was no central control over the cost of consumables, continuity of service and efficiency of the fleet. Reliability was poor, availability limited and they lacked visibility to see how their devices were performing.

Secure printing was also a business critical consideration for Vaultex who control 36% of the UK’s cash circulation. Their cash centres are operational 24/7 and each cashier prints their own pay slips using Equitrac secure release.

The Solution

Following a rigorous selection process, M2 were chosen to provide a fully Managed Print Service. Vaultex were impressed with M2’s solution design, specifically M2 Intelligence, and their nationwide service capability.

Service confidence, management information, the ability to monitor the fleet remotely, product knowledge, engineer availability and response times were all key requirements for Vaultex, with the overall objective being to minimise downtime of assets, and keep their 24/7 cash centre sites fully operational.

They now use M2 Intelligence and champion the application and M2’s reporting prowess.

To successfully integrate in to a highly secure environment like Vaultex, M2 customised their M2 Intelligence architecture to adhere to MOD and bank security standards. This configuration is available to any customers that require it.

Vaultex actively use Management Information to analyse trends and move equipment across sites when devices are over- or under-utilised. Similarly, they track service performance at each site where calls seem unusually high or low.

M2 continues to support Vaultex’s stringent and evolving security protocols. As part of their continuous improvement programme, they have recently implemented a process for the controlled storage of bespoke configuration documents for devices at each cash centre, as M2 service engineers are not permitted to take laptops or mobile phones on-site.

Vaultex find M2 approachable, understanding and mindful of their business priorities, and believe the proof is in the service figures and the quality of the ongoing relationship. M2 are now a key service partner to Vaultex who trust us to meet their business critical printing needs in a highly secure environment.

“Working with M2 has allowed us to reduce our printer fleet by over 150 devices. We now have a modern fleet capable of the print volumes we require, which brings efficiencies and reliability. With M2 Intelligence we have a view of the fleet that we had never had before. We are now able to monitor individual devices, or the whole fleet, to ensure everything is running smoothly.”
Gary Barratt, IT Relationship Manager and Service & Problem Manager, Vaultex UK

Benefits

  • Increased budget control, reliability and remote visibility of fleet, with uptime consistently above 99.5%.
  • Management Information available to manage demand, and ensure assets are efficiently deployed.
  • Projected contract savings have increased from 27% to 30%, with Vaultex on track to realise a saving in excess of £0.5m.
  • More than 20% of service-calls logged are resolved remotely at first-time fix.
  • Response to site is 3 hours 40 minutes, well below the 4 hour industry standard SLA.
  • Vaultex expect to realise additional savings from further fleet optimisation, and a reduction in paper consumption from their Intelligent Cash Processing System (ICPS).
  • M2 Intelligence enables shift workers to log calls through the night, ensuring continuity of service.