Retailer reduces back-office labor and lowers cash-on-hand inventory by $8 million
This vertical-leading retailer was struggling to monitor store exceptions and compliance at corporate. Meanwhile, their stores were challenged by the laborious, manual currency management tasks required each day. With VeriBalance and its apps, they streamlined currency management for both stores and corporate.
Like most retailers, the company is continually trying to balance labor needs, customer needs, and cost-control best practices. Keeping a watchful eye on currency management with VeriBalance has helped make all that possible. Labor went down, cash-on-hand levels were reduced, and reporting became easier and far more efficient.
In the case study, you’ll learn more about how the retailer:
- Reduced cash on hand by 30 percent ($8 million)
- Increased corporate visibility and governance of store activity
- Reallocated back-office labor to customer-facing activities
- Benefited from next-day information about cash and checks
- Reduced self-checkout balancing from daily to just once per week
The retailer can now easily track store performance and activity remotely, and their stores can focus more on customer experience. Find out more about how they improved currency operations to free up time for both stores and corporate.