May 4, 2020
Turn retail cash management from a headache into a strategic benefit
You might be thinking cash management isn’t a top priority or that your cash handling process is ‘just fine’ the way it is. But what if you could transform cash management into a strategic benefit for your business?
Even with new forms of digital payments, cash isn’t going away anytime soon. Properly managing it can be critical for your business, but it doesn’t have to be a problem. It’s time to ditch the manual process of calculators and spread sheets. The key to eliminating this time-consuming headache is an end-to-end, single-source managed service approach. It removes the costly distraction and risk from your stores and improves visibility and control at the corporate level.
We started in the retail industry in 2001 with the simple purpose of wanting to help retailers reconcile theirs funds faster. Over the past 15 years, we’ve worked alongside retailers to better understand their business operations. We’ve noticed a few things along the way.
- Stores tend to keep more cash in store than needed.This leads to unnecessary costs associated with tied up working capital.
- Customer experience is a competitive edge. With growing competition from online retailers and other big box stores, retailers are under pressure to deliver consistently excellent customer experiences. This means they need to keep staff focused on customer service, improving sales and other in-store activities and off of manual cash-related tasks.
- Cash management is completed in silos. Multiple cash related processes, vendors and devices cause employee confusion and drive inefficiency, and create a lack of visibility for corporate. There simply has not been a single vendor or service provider that could consolidate and simplify the end-to-end cash management challenge for retailers.
Retailers will benefit from the right mix of software, hardware, processes and logistics while automating the entire cash process, solving some of the biggest cash challenges and serving as your one partner to provide full visibility and reconciliation from the register to the bank and back. Cash Process Automation is our solution that solves your biggest cash management challenges.
Here is our focus for streamlining cash management and creating more efficient stores.
- Break down the complex vendor ecosystems and disparate siloed systems that create operational friction and wasted productivity
- Prevent cash loss and operational risks due to inadequate controls and visibility
- Remove idle cash across the enterprise that increases your cost of doing business
- Eliminate the blind spots that lead to poor forecasting and uninformed decisions
- Simplify secure data exchange across devices and POS systems
There are seven main components to Cash Process Automation. To take a deep dive look at each component, access our Comprehensive Guide to Cash Process Automation here.