Company News • 03.06.2013
Closed cash handling gives competitive edge
The retail industry is more competitive than ever. Store operators have to think of new revenue streams and ways to lower costs
The retail industry is more competitive than ever. We see that in all five verticals that we focus our solutions on: Supermarkets, Petrol Stations, Convenience Stores, Pharmacies and Hospitality.
Margins diminish constantly, while the cost of doing business increases. In that kind of environment, store operators have to think of new revenue streams and ways to lower costs. A CashGuard closed cash handling system helps them do both.
In Norway, for example, CashGuard improves business for Robert Burud, co-owner of 18 KIWI convenience stores.
Robert notes that CashGuard enables stores to offer their customers more services, such as cash back and postal services. Customers can deposit or withdraw cash while they check out and they can also do various post-related errands. These services require CashGuard, since the system controls cash levels and can store large amounts of cash in a secure way.
“Competition is fierce in our industry,” Robert says. “Our margins are constantly diminishing. CashGuard plays an important role in offering additional services that can offset the slim profit margins we struggle with.”
More time for service
Another way that retailers try to stay ahead of the competition is through offering exceptional service. To do so, staff need to be able to focus on the customers. Here too, closed cash handling systems give business a boost.
“The cash up takes place within 5 minutes, shortages and overs are a thing of the past,” says Luis Dias, Owner of Boksburg, Dias and Casseldale Spar & Tops in South Africa. “We have saved a lot of time and frustration over cashing up in the mornings… The managers are extremely happy with the outcome and it has given them more time to concentrate on customer service.”
Automation boosts security and profit
The basic idea behind CashGuard’s closed cash handling system is to automate the whole cash handling process, from point of sale to cash transport pick-up. Our products do the counting, the tracking, the reporting, transporting and storage of cash. By taking humans out of the cash handling process, errors are a thing of the past. And by making the systems tamper-proof, equipping them with ink-dyeing and validation technology, a closed cash handling system increases security for both customers and retailers.
Since neither the manager nor the staff are occupied with handling the cash, they can focus on running the business and on their customers. They also don’t have to stay after closing to count the cash. It’s done automatically – and always correctly.
With the automation, the improvements in security and the savings of time and money, a CashGuard closed cash handling system gives retailers many opportunities to improve their business, even in times of fierce completion.
“(The CashGuard closed cash handling solution) takes care of all the risk at point of sale and gives one complete peace of mind in a cash business,” says Steve Ford, of KFC Meadow Point Soweto in South Africa. “Management can spend more time on running the business and their customers instead of worrying about the cash control of the business.”
164 40 Kista