Whether it be couponing, shopping deals, or Black Friday, there is just something so rewarding about saving money. When we keep a few extra bucks in our pockets, our brains reward us with a little dopamine to say, you were a smart consumer today–good on you! At the same time, we become frustrated when we overpay, especially when it comes to servicing your most important equipment. You certainly don’t want to be overcharged for ATM software maintenance. And you don’t want to pay ATM hardware maintenance on machines that are no longer in use. Learn more about how you can avoid spending more money than you have to.

ATM Software Maintenance

In short, ATM software maintenance is the post-delivery modification of a software product. Most ATM and ITM repairs fall under this category. These modifications range anywhere from patching of minor faults to upgrading the entire program to the latest versions. In the financial industry, specifically for ATMs and ITMs, software maintenance allows for the ongoing support of the applications running on the equipment. There was once a time where it was optional to sell ATM software maintenance—that is no longer the case. With the sheer amount of devices that we use in our everyday work lives, it is crucial that our devices stay up-to-date. We always advise our customers to stay updated with the latest software packages from their vendors for this reason.

Vendors are changing the way they offer software maintenance. Traditionally, one would simply purchase the software with the machine and then pay a small amount yearly for software maintenance. Lately, ATM manufacturers like Hyosung and NCR have been changing revenue models to be similar to Software as a Service. In this model, customers pay a larger yearly fee for the software license and software maintenance but pay a smaller fee for the machine itself. This keeps customers committed to the revenue stream for a longer period of time.

Here’s the issue: even though the customer is paying for the software maintenance on their ATMs and ITMs, they still must pay a fee to have somebody install it on their machines, or do it themselves. It just means that the customer simply has access to the update. The update is usually stored in an online library and is not automatically installed onto the machine. Have you ever heard of such nonsense? Fortunately for you, Equips has an alternative solution to this problem—EquipsConnect. Most of our customers know EquipsConnect as a remote monitoring application for ATMs and ITMs. However, it does so much more than that. You can even update your software remotely without having to do it manually, or worse yet, pay somebody to do it. More on EquipsConnect later on.

ATM Hardware Maintenance

ATM hardware maintenance is exactly how it sounds—maintenance performed on the hardware of your machine. There are two different kinds of ATM hardware maintenance—First-Line Maintenance and Second-Line Maintenance. Any repairs that do not require a technician’s expertise fall under First-Line Maintenance. Common First-Line Maintenance issues include clearing receipts and bill jams. On the other hand, Second-Line Maintenance is any hardware maintenance that requires a technician. An example of Second-Line Maintenance would be replacing or repairing a broken chip reader.

There is also Preventive Maintenance, which is the practice of regularly scheduled maintenance of equipment and other assets to prevent unplanned and long-term downtime from unexpected equipment failure. Equipment always seems to break down at the worst times, which only adds to an already stressful situation. Preventive Maintenance is often forgotten or overlooked by banks and credit unions. But it is crucial when it comes to saving time and money on otherwise costly repairs. It is also important in terms of keeping your customers satisfied. We tell our customers that if their ATM or ITM malfunctions when a customer needs to make an important transaction, they will simply go to a different one next time. Hopefully, it’s not a competitor’s machine! It is always wise to do what you can to prevent any unexpected faults or downtime.

ATM Managed Services (Remote Monitoring)

It seems like everyone has a different idea of what managed services is. Here is how we define it: managed services are the processes of ensuring high quality and functionality of your equipment via hardware maintenance and software maintenance. We have a unique approach to managed services using EquipsConnect. As mentioned earlier, EquipsConnect is a tool that allows you to perform software maintenance remotely without getting a vendor involved or having to do installations manually. Beyond that, EquipsConnect allows you to reboot your machines, or components of your machines, remotely to resolve issues. If this fails, you can provide your technicians with more information to help them get the repairs done faster.

But what about hardware maintenance? For starters, you can use EquipsConnect to remotely monitor the state of health of your ATM and ITM fleet. Should you detect a fault, you can remotely diagnose and reset the device to minimize downtime. If the fault is significant and requires the attention of a technician, Equips will dispatch your preferred service provider using the fault data provided by the machine. In short, using EquipsConnect, you can resolve minor issues remotely and without rolling a truck. And should you have to roll a truck, you can recognize the issues faster and keep your machines up and running faster so you can minimize your losses. How great is that?

To learn more about managed services using EquipsConnect, reach out to one of our amazing and experienced Solutions Advisors who would love to help you find the right solution for your ATM and ITM needs, and share more information on this amazing tool. After all, you deserve a little dopamine.