BI-LO keeps the cash office in check with vbEPIX® back office check conversion
For immediate release
January 11, 2012
Contact: Diane Collins, 913-599-1177
Lenexa, Kan.: Balance Innovations®, LLC announced today that BI-LO, LLC has selected and implemented vbEPIX in all of its 207 store locations. vbEPIX is an end-to-end back office check conversion solution that eliminates physical bank deposits by converting paper checks into electronic transactions. vbEPIX was designed specifically for the retail market and is packaged with Epson’s CaptureOne™ check scanner.
“vbEPIX enables our stores to process checks electronically versus creating a paper check deposit,” said Gail Moore, senior manager of customer service and store support for BI-LO. “Because vbEPIX balances and matches check transactions to our point of sale system, we are able to reduce key-entry errors that occurred with our manual process. vbEPIX required minimal training for our bookkeepers, and we were able to implement the new procedures in all of our 207 stores in three weeks, with no impact to our customers. Implementing vbEPIX in our stores demonstrates BI-LO’s goal to improve processes behind the scenes, as well as on the frontline, to ensure every customer has a pleasurable shopping experience, with as much convenience and value as possible.”
The vbEPIX solution enabled BI-LO to reduce bank fees that are associated with traditional check processing. It also improved their check reconciliation by electronically processing and depositing personal, WIC, and payroll checks. Additionally, BI-LO was able to eliminate deposit preparation time and accelerate the check return process.
“We view our customers as partners, and it was extremely important to us that BI-LO experienced not only a financial win, but also the benefit of time savings with the addition of vbEPIX,” said Shelley Bosler, senior vice president of product management and strategic initiatives for Balance Innovations. “BI-LO has a great team, which was essential to the success of this project.”
The implementation of vbEPIX was a quick transition for BI-LO since it works in conjunction with the VeriBalance cash office management solution, another Balance Innovations product that the company implemented in 2008.
“Balance Innovations has been a great partner,” said Moore. “It’s evident that they are interested in the success of our stores and are willing to go the extra mile to ensure smooth implementation of their solutions. We are already seeing the benefits.”
VeriBalance improves cash office efficiencies by automating manual processes such as till balances, safe management, self-checkout balancing and deposits. Integrated to the store’s point of sale system, VeriBalance reduces the time it takes to perform traditional bookkeeping tasks, freeing up cash office associates for other activities.
Balance Innovations will be exhibiting at NRF 2012 from January 16 – 17 in booth 151.
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About BI-LO, LLC
Headquartered in Mauldin, S.C., BI-LO operates 207 supermarkets in North Carolina, South Carolina, Georgia and Tennessee, employing approximately 16,995 people. Founded in 1961, the company provides shoppers substantial savings without sacrificing quality or freshness through its BI-LO BONUSCARD® and other exclusive programs. A committed corporate citizen, BI-LO has donated more than $58 million through its BI-LO Charities efforts to organizations across the company’s footprint since 1983. For more information, visit www.bi-lo.com.
About Balance Innovations, LLC
Balance Innovations is the leading provider of reconciliation and cash office management solutions for the retail industry. Our leading-edge, customizable solutions integrate seamlessly with existing POS technologies to simplify and improve retailers' cash office management operations. Balance Innovations' premier product, VeriBalance, is a patented, easy-to-use software solution that is helping retailers across the United States and Canada increase profitability and improve operations by reducing labor, bank fees and shrink while standardizing and enforcing best practices and corporate policies. Other products include: vbEPIXTM, an electronic check processing solution; vbForecastTM, a cash forecasting product; and vbScoutTM, a self-checkout management tool. Customers range from independent grocers to Fortune 50 retailers.
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