The ATM industry is on fire right now, thanks to a number of different issues. Profitability has been on the decline recently thanks to the cost of ATMs; as an example, distributors who have a choice of ATM company to work with have had to face the prospects of loss-leading sales and attempt to close the revenue gap with processing.
But Puloon USA knows what it takes to build a better ATM company. In fact, here are some of the most crucial tips that this company has learned — some of them the hard way — when it comes to creating and maintaining one of the best ATM companies in the world.
1. Keep Costs Low
The first tip up is one that is basic and universal but also sometimes exceedingly difficult to achieve. ATM companies need to keep their costs as low as possible without running the risk of sacrificing product quality. Reducing cost per unit means that your profit margins will be wider, for example, while cutting production and manufacture costs elsewhere will benefit in other ways as well.
Examples of keeping costs low include making ATMs and cash dispensers with durability and easy maintenance in mind. Customers need long-lasting, rugged devices that can withstand the test of time, and distributors need to know that the ATMs they’re offering to their customers won’t be a nightmare of service calls in the future. Marketing a company’s products as low cost without being low quality avoid that company’s products from being seen as a false economy.
2. Stay in Touch with Clients
The relationship an ATM company builds with its clients is one of the most important aspects for longevity in this industry. A company that builds positive relationships with clients can watch those relationships develop into fully beneficial bilateral partnerships over the years, with distributors increasingly choosing one ATM company over another because of the quality of products the company offers at an affordable price that paves the way for excellent profitability.
Adopt a long-term approach when working with clients and the results will speak for themselves. ATM companies that keep their distributors apprised of new developments and product lines as they become available commercially showcase their desire to provide more advanced and less expensive ATM and cash dispenser products that, in turn, will help support that distributor’s own profitability. Puloon USA has long adopted similar approaches to support such long-term beneficial partnerships.
3. Use Great Branding
Puloon USA knows great branding. As a company that’s been a leader in banking automation product development worldwide for over 25 years, much of the success the company has seen can be partially attributed to the impact of its branding campaigns. Branding should also reinforce the qualities that a company wants to convey to clients and consumers in a visual representation that will stick with those clients or consumers for years to come.
Puloon USA, as an example of using branding to do this, relies on its iconic star-and-infinity-sign logo to reinforce the company goals of quality, durability, and longevity. This is reinforced further with the naming of its SiriUs ATM product line. With Sirius being the brightest star that can be seen from Earth, Puloon USA equates this quality — standing out by shining brighter than all the rest — with its products.
4. Showcase Product Security
Theft, unauthorized access, and the use of devices such as card skimmers are the bane of ATM owners everywhere. This makes security a major concern for ATM manufacturers and their clients alike, as no one will be interested in purchasing a cash machine that has security features that are bypassed all too easily. This, therefore, requires a smart ATM company to showcase the security of their products to allay the fears of their clients.
Puloon USA knows the importance of ATM security, which is why its the entirety of the SiriUs product line makes use of UL291 business hour safes with a choice of dial or electronic locks. Puloon USA takes even further security steps with the SiriUs II model, as it features not just one but three different door sensors to counteract unauthorized use.
5. Market Automation
Being profitable in the ATM business means supplying cash machines to customers that are as fully automated as possible. The less routine maintenance or periodic interaction an ATM needs, the better; clients and customers want to know that their ATM won’t have to experience extensive downtime for upgrades or for maintaining jammed or broken cash dispenser cartridges.
Puloon USA focuses its marketing materials on how automated their products are. The first way the company accomplishes that is by highlighting how every ATM that leaves a company warehouse is updated to the EMV and PCI 3.0 standard, obviating the need for upgrades for several years. Puloon USA also markets their mechanical cash dispensers as being designed to work faster and more reliably with less need for repair or replacement.
6. Focus on Innovation
ATM distributors and their customers have a wide range of ATM manufacturers from which they can choose. In order for an ATM company to stand out in this highly competitive field, the focus needs to be on more than just high profitability but on the innovative features that lead to that high profitability. Therefore, it takes a focus on developing innovative features in a product line to ensure long-term success.
Examples of innovation that lead to better profitability once again include Puloon USA’s use of carefully engineered mechanical cash dispensers that out-perform electronic dispensers while also contributing to a more manageable cost-per unit at the same time. The small and lightweight nature of the SiriUs product line further enamors Puloon USA products to clients, as their rich feature set, when combined with their economic footprint, appeals to companies that measure profit by $ per square foot.