Logicpath, a dynamic player in the software solutions and analytics arena, stands at the forefront of revolutionizing cash inventory management for businesses in the financial sector. Logicpath offers C3 Financial—a powerful SaaS solution for seamless cash management and forecasting across branches, ATMs, devices, and vaults. With Logicpath, businesses gain the edge in optimizing cash supply chains, boosting efficiency, and cutting costs.

Headquartered just north of the vibrant city of Atlanta in Suwanee, Georgia, a northeastern suburb about 30 miles away, Logicpath boasts a robust track record of serving over 2,000 clients across the United States and Canada.

Kelly MacConnell, VP of Sales and Client Services, and David Austin, VP of Operations at Logicpath, spoke exclusively to CIO Bulletin about how their company emerges as the trusted ally for businesses seeking to navigate the complexities of cash inventory management.

The Inception of Logicpath

“Established in 1993 alongside our sister company, Ceto & Associates, our flagship product, Deposit Reclassification laid the foundation for our journey. In 2008, Logicpath emerged as a dedicated software solutions company, branching out from Ceto and Associates. Our commitment to innovation led us to introduce two leading quantitative solutions to the banking industry: Deposit Reclassification and C3 Financial. Today, we continue to redefine industry standards, seamlessly blending our rich history with cutting-edge technology,” said Kelly MacConnell.

C3 Financial: Cash Inventory Management Software Trusted by Thousands

C3 Financial dives deep into data from various banking cash points—ATMs, ITMs, Teller Drawers, Recyclers, and Vaults. With the power of artificial intelligence and machine learning, it not only accurately forecasts orders and deposits but also slashes time, eliminates guesswork, and maximizes cash for reinvestment.

“What sets us apart is agile development, ensuring our software remains relevant and at the forefront of our clients needs. We’re vendor-agnostic, proudly boasting the largest number of banking clients in the United States. Trailblazing, we were the first to forecast on all cash points. Forecasting cash isn’t an afterthought for us; it’s our sole focus, offering a user-friendly experience with best-in-class reporting, dashboarding, and automation designed with the end user at heart. Our forecasting models drill down to the denomination, providing suggested fulfillment amounts upon delivery to all cash entities. And here’s the kicker—our commitment to forecast model excellence is reinforced by regular backtesting, completed every 3-4 weeks. C3 Financial isn’t just software; it’s a game-changer in the world of cash inventory management,” says David Austin.

Logicpath’s Symphony in Data Excellence

“The most fundamental principle: clean data in = clean data out. Before delving into algorithms and analytics, ensuring the pristine quality and validation of the financial institution’s (FI) data is paramount,” says Mr. Austin.

Mrs. MacConnell illustrates this with an example: “Accurate forecasting on devices, vaults, ATMs, or branches requires proper balancing procedures within the FI’s systems. Data validation is a crucial step in the implementation process. For example, we need to ensure with the FI that $50,000 in 20s is balanced properly in the teller platform so data files are clean. Once the files are validated, then the algorithms are engaged. From there, the secret sauce is how we control and utilize them.”

Logicpath’s Unrivaled Expertise and Client-Centric Approach

Kelly MacConnell says, “Logicpath has successfully served over 2,300 banks and credit unions across the US & Canada. What sets our product and service apart is our distinctive consultative approach and human touch. Our client services team comprises cash supply chain and inventory management experts, including former vault and branch managers from large FIs, who possess an in-depth understanding of data, algorithms, reporting, and the unique setups of every FI and their partner integrations.”

“While any company can claim to forecast or use AI, defining these processes and demonstrating performance is paramount. We provide comprehensive insights through performance reviews and dashboards, showcasing where our clients’ cash stands today, what it could have been, and our accuracy for each denomination and location. At Logicpath, we go beyond the surface, diving into granular details to educate our clients on the application, enabling them to achieve their inventory management goals,” explains Mr. Austin.

Client Testimonials

Lake Trust Credit Union (https://www.logicpath.com/case-studies/lake-trust-credit-union/)

Challenge: Lake Trust Credit Union, post-merger, needed to centralize and standardize cash management across 21 branches to enhance efficiency and ease of use.

Solution: Implementing Logicpath’s C3 Financial streamlined operations, providing a centralized platform for cash ordering, deposit recommendations, and inventory.

Results: With C3 Financial, Lake Trust achieved a 22% reduction in cash inventory institution-wide. Time dedicated to cash management decreased from 60 to 21 minutes per week, resulting in thousands of dollars in annual cost savings. Branch staff now focuses more on ensuring a positive member experience.

Feedback: Yvonne DeGasperis, Coordinator of Member Service Support, emphasizes the C3 Financial’s value: “If you can’t reach out and get assistance when you need it most, the product’s value is diminished, but that’s not a struggle with Logicpath.”

Liberty Bank (https://www.logicpath.com/case-studies/liberty-bank/)

Challenge: Liberty Bank needed an institution-wide solution for standardized branch cash management to overcome disparate processes and reporting challenges.

Solution: After a successful 13-year relationship with Logicpath’s Deposit Reclassification, Liberty Bank implemented C3 Financial to streamline branch cash management. The solution managed the cash footprint for 49 branches and 34 branch-serviced ATMs.

Results: With C3 Financial, Liberty Bank achieved a 42% reduction in cash inventory, transforming $2.0 million in liquid assets. The solution’s reporting capabilities streamlined manual processes, providing quick monthly reports and clear insights for efficient cash limit management.

Feedback: Kathy Doucette, Treasurer and First Vice President of Finance, highlights, “Since implementation, we have seen more than $2 million in cash reductions at our branches across the state of Connecticut; that was our immediate goal when we chose to implement C3 Financial.”

Road Ahead

“We’re excited about our client-driven branding/color association project, the upcoming Order & Deposit Enterprise Dashboard, and the refreshed Performance Dashboard with a new look. Beyond that, Logicpath, as a platform or service, has the capability to oversee and handle the operations, forecasting, and management of more than 160,000 cashpoints. This signifies the extensive reach and scalability of Logicpath’s solutions in optimizing the cash supply chain and inventory management for a large and diverse network of businesses,” concludes David Austin.

 Logicpath | Leadership

Kelly MacConnell is the Vice President of Sales and Client Services of Logicpath. With over 16 years of experience in the FinTech industry and a decade-long commitment to Logicpath, Kelly spearheads the company’s revenue initiatives. Holding a comprehensive portfolio, she oversees sales, partnerships, and client services. Outside the professional realm, Kelly revels in family life with her husband and two children. Her favorite pastimes include tennis, leisurely walks, and the camaraderie of a wine club with friends.

David Austin is the Vice President of Operations of Logicpath. He boasts an impressive 23-year tenure in the financial services industry, dedicating 16 years to his impactful role at Logicpath. Serving as the VP of Operations, David leads the implementation and development teams. His expertise lies in ensuring seamless processes, optimizing resources, and aligning teams to achieve strategic objectives. Beyond his professional pursuits, David finds joy in engaging trivia games, a round of golf, and cherishing moments with his wife and children.

“Logicpath has successfully served over 2,300 banks and credit unions across the US & Canada. What sets our product and service apart is our distinctive consultative approach and human touch.”

 “At Logicpath, we go beyond the surface, diving into granular details to educate our clients on the application, enabling them to achieve their inventory management goals.”