Digital payments have become dominant in KSA due to technological advancements and the kingdom’s efforts to move the needle towards a cashless economy. However, cash-in-transit services continue to rise to serve several industries such as banking, retail, and hospitality.

As reported by Mordor Intelligence, The KSA cash management services market size is gauged at USD 57.86 million in 2024 and is predicted to reach USD 63.98 million by 2029.

Yet, managing cash flows in KSA can be challenging, especially during cash delivery owing to the country’s growth which caused traffic congestion and other issues. So, how to manage cash-in-transit fleets in Riyadh effectively? Here comes the importance of fleet management for cash security companies in Riyadh and Jeddah.  

If you are looking for the best fleet management for cash security companies in Riyadh, you have come to the right place. We will discuss, in this article, everything you need to know about fleet management solutions for cash delivery in KSA.

Let’s dig deeper!

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Table of Content

·       A Closer look at the Challenges Associated with Cash-in-transit Services in KSA

·       How to Manage Cash-in-transit Fleets in Riyadh?

·       5 Reasons Why You Need Fleet Management Solutions for Cash Delivery in Jeddah and Riyadh

·       Exploring the Top Features of Fleet Management Systems for Cash Transport in Jeddah

·       Fleet Management Software Pricing for Cash Delivery in Riyadh: Key Factors to Consider

·       Afaqy's Moraqba: Advanced Solutions for Secure Cash Delivery in KSA

·       Why Moraqba?

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A Closer look at the Challenges Associated with Cash-in-transit Services in KSA

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The Kingdom of Saudi Arabia witnessed an exponential growth over the past two decades, which resulted in 10 times increase in roads and 34 times in the number of registered vehicles. However, cash delivery companies still face many challenges during cash transportation in KSA. Let’s put a spotlight on some of them:

Security Risks

Transporting cash from one location to another makes it exposed to thefts, employee frauds, or robberies. That is why Saudi Central Bank (SAMA) has set tough rules for cash security companies in KSA regarding transporting cash, valuables, and filling ATMs. These rules include:

·       Using armored vehicles to ensure the security of cash delivery processes

·       Careful selection of employees by checking their credit histories

·       Leveraging advanced technology by using tracking devices to monitor any road deviations

·       The armored car should have a driver, armed guard, and an escort

Thus, abiding by the above-mentioned rules can be challenging for cash delivery companies and requires careful planning and precision.

High Operational Costs

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Given the high risks associated with cash handling, using armored vehicles, surveillance systems, and tamper-evident cash bags can be costly. Moreover, delivering cash across the kingdom’s cities, towns, and rural areas increases transportation and fuel costs.

Insurance is also another issue. Cash-in-transit companies pay expensive insurance costs to guarantee compensation in case of any loss or damage.

Risk of Delays

There are many factors that may contribute to the delay of cash deliveries such as traffic congestion and inefficient route planning. Hence, using advanced fleet management systems to enable route planning and reduce fuel consumption is indispensable to boost customer satisfaction, reduce costs, and ensure the timely delivery of cash and valuables.

How to Manage Cash-in-transit Fleets in Riyadh?

Managing cash-in-transit fleets in Riyadh is never easy given the above-mentioned challenges. Here are some of the best strategies for the effective management of cash delivery services:

·       Security and Risk Management: By using armored vehicles, tamper-evident bags, state-of-the-art tracking systems, and following security protocols, companies can reduce risks of thefts or unauthorized use.

·       Complying with Laws and Regulatory Standards: Having proper documentation for the company’s cash movements is essential to comply with the regulations of SAMA and the country’s anti-money laundry laws.

·       Employee Training: Your staff should receive extensive training in secure cash handling procedures to be able to respond to security threats such as thefts, vehicle breakdowns, and armed robberies.

·       Using Advanced Fleet Tracking Solutions: Leveraging technology is essential to improve the efficiency of your cash delivery operations. Features such as GPS tracking, geofencing, video surveillance, fuel management, and monitoring drivers’ performance are crucial to guarantee the security and efficiency of your processes.

5 Reasons Why You Need Fleet Management Solutions for Cash Delivery in Jeddah and Riyadh

The kingdom of Saudi Arabia is continuously adopting new technologies in the field of vehicle telematics to ensure smooth fleet operations that resonate with its rules and regulations. So, when it comes to delivering cash in the Kingdom, using appropriate fleet management solutions that align with the country’s market condition is paramount.

The following are some of the reasons why you need tracking solutions for cash delivery in Jeddah and Riyadh:

GPS Tracking and Route Planning

When delivering cash or valuables, you need to know where your vehicles are at all times to detect road deviations or possible threats. By using the GPS tracking included in the fleet management system, you can track your vehicle’s location in real-time. This enables you to reroute on the go when needed to avoid traffic or any vulnerabilities.

The real-time tracking feature also gives you the opportunity to gather data and insights into your vehicles’ movement at any time, such as generating reports about the number of pickups and deliveries that are completed within a specific period.

Monitoring Drivers’ Performance

Fleet management systems enable you to have a bird’s eye view on your drivers. By tracking their behaviors, you can detect unsafe driving habits that may cause accidents and threaten the security of your cash or valuables as well as the life of your crew. These include harsh braking, using cell phones, speeding, or distracted driving.

You can also detect any fraudulent attempts such as fuel card abuse. This helps you notify drivers of any undesired behaviors and give them the appropriate training and guidance.

Controlling Fuel Consumption

The first step toward sustainable logistics is the careful management of fuel consumption. Fleet tracking systems send you instant alerts and updates when a vehicle is going to exceed the daily mileage. Also, you can track idle times and get notifications for excessive idling. Increased idling pushes up fuel bills and can affect the company’s bottom line.

Furthermore, effective route planning can help in fuel usage reduction. Through monitoring telematics data generated from the vehicles in real-time, you can avoid congested areas that may increase your vehicles’ time on the road. This also guarantees smooth deliveries of your cash and valuables.

Reducing Vehicles’ Wear and Tear

Some fleet management systems are provided with predictive maintenance features. You can get notifications in case a spare part needs to be replaced or repaired in advance to prevent sudden breakdowns during the processes of cash delivery.

By receiving data on vehicles’ conditions, you can set service reminders for preventive maintenance schedules. Avoiding downtime is crucial, especially during cash delivery to ensure that delivery deadlines are met efficiently and maintain customer satisfaction.

Achieving Budget Reductions

As explained above, the data analysis feature of fleet tracking systems plays a pivotal role in reducing operational costs associated with fuel consumption and vehicles’ maintenance. What is more? By maintaining your vehicles and ensuring that they work to their best capacity, you can also mitigate the risks of accidents and reduce your insurance costs.

Exploring the Top Features of Fleet Management Systems for Cash Transport in Jeddah

Cash delivery services need more than basic fleet management systems. Fleet tracking for cash security companies in Saudi Arabia should have cutting-edge security features that guarantee the security of cash delivery processes and enable fleet managers to have full control of their fleets while maintaining security and privacy.

Here are some of the top security features of the best fleet tracking system for security trucks in Jeddah and Riyadh:

·       Data Encryption: This feature secures data during transmission or storage, allowing only authorized persons to access it. This prevents cybercriminals from accessing the data, and even if they managed to access it, it would remain unreadable.

·       Authentication and Access Control: This feature is crucial to eliminate data breaches and ensure the security of sensitive data. It works by verifying the identity of the users who need access and preventing unauthorized use.

·        Connected Cameras: Fleet systems with cameras enable you to monitor everything that happens inside and outside your vehicles at any time. This helps you take the necessary actions incase of any road deviations, unsafe driving habits, or theft attempts.

·       Geo-fencing: One of the outstanding features of fleet tracking systems is geo-fencing. This technique allows you to set virtual boundaries for your vehicles and sends you instant alerts if they cross these boundaries.

·      GPS Tracking: Real-time GPS tracking helps you track your vehicles’ locations and plan routes according to traffic. Also, it enables you to know the time of deliveries and detect any road deviations.

·       Fleet Maintenance: Of course, no one likes surprises when it comes to cash delivery processes. Fleet tracking systems can identify maintenance problems before they happen through the predictive maintenance feature. This helps you preclude any last-minute shocks and ensure seamless cash delivery operations.

Fleet Management Software Pricing for Cash Delivery in Riyadh: Key Factors to Consider

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If you need to buy a fleet management system for cash delivery in Riyadh, there are a lot of factors you have to consider. Fleet management systems’ prices vary according to the required features, hardware needed, vendors’ offerings, and scale of deployment. Let’s explain some of these factors:

·       Features: Some companies require basic features such as GPS tracking, route optimization, and driver behavior monitoring. However, if you need extra security features such as cameras, instant alert systems, and alarms, costs will increase accordingly.

·       Set-up Fees: Some fleet management software providers may require setup fees which will affect the cost.

·       Support and Maintenance: Premium customer support or 24/7 access may also increase costs.

·       Hardware: If you need devices such as GPS trackers, security cameras, and telematics devices, you will need to pay extra costs.

·       Vendor’s Location: Companies offering fleet management for cash security in Saudi Arabia may provide customized solutions with competitive prices more than global vendors such as companies in USA, Italy, or Australia.

In short, if you need to purchase fleet management solutions for cash delivery in Riyadh, you will need to invest more in the ones with robust security features to help you maximize the efficiency and security of your cash delivery operations.

Afaqy's Moraqba: Advanced Solutions for Secure Cash Delivery in KSA

At Afaqy, we understand the importance of securing the delivery of cash or valuable assets to protect your business from any potential losses because of theft, fraud, or accidents.

Thus, by utilizing cutting-edge technologies and leveraging our vast expertise in tracking and monitoring, we have developed “Moraqba”, the ultimate fleet tracking solution for cash security companies in Saudi Arabia.

Why Moraqba?

·       CCTV (Closed-Circuit Television) technology

·       HD quality with zoom-in features

·       Infrared cameras, up to 80m vision in darkness

·       The mobile app integration makes it available from anywhere

·       Huge storage capacity for recordings

·       Audio and Video Monitoring with a single device

·       Instant live views or play/rewind of recordings

·       Moraqba’s solutions can be customized based on your business needs

Experience seamless fleet management and enhanced security for your cash delivery operations with Afaqy's “Moraqba.” Contact us today and discover how we can optimize your fleet performance while keeping your assets safe!

FAQs

1. What is fleet management for cash security companies?

Fleet management for cash security companies involves tracking and managing vehicles used to transport cash and valuables, ensuring safety, efficiency, and compliance with local regulations.

2. Why is fleet management important for cash security companies in Riyadh?

Fleet management helps cash security companies in Riyadh improve operational efficiency, enhance vehicle security, and reduce the risk of theft or loss.

3. What features should a fleet management system have for cash security companies?

A fleet management system for cash security companies should include GPS tracking, real-time route monitoring, secure communication, driver behavior analytics, fuel management, geofencing, and integration with security protocols like lock/unlock features for armored vehicles.

4. How can fleet management systems reduce costs for cash security companies in Riyadh?

Fleet management systems help reduce costs by optimizing routes, reducing fuel consumption, minimizing vehicle wear and tear, and preventing unauthorized vehicle usage. They also reduce manual tracking efforts, improving overall operational efficiency.

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