Department chain’s financial savings and efficiency skyrocket with VeriBalance
Boscov’s Department Stores was struggling with delayed reporting, sky-high bank fees and time-consuming procedures, sending them searching for a solution. They found one with VeriBalance currency management.
Cumbersome, outsourced reconciliation procedures had affected many aspects of their organization, but since implementing VeriBalance, Boscov’s has benefited from more efficient processes, tremendous reductions in fees, and timely, actionable reporting, all with little to no IT impact.
In the case study, you’ll learn more about how Boscov’s:
- Cut cash on hand at their stores by 15 percent
- Saved 15 to 20 percent on armored car fees
- Resolved exceptions faster to significantly reduce shortages
- Implemented consistent, simple procedures for greater efficiency enterprise-wide
Boscov’s reduced the time they spent on reconciliation tasks and moved employees to other areas like training and customer service. Find out more about how they streamlined their currency operations to spend more time with customers and reduce the cost of accepting cash.