Cash handling solutions for today’s retailers
Cash handling is here to stay. Despite the increase in alternative payment methods such as credit and debit cards, cash remains the preferred payment method around the world year after year, representing more than 80% of all transactions! Most of these transactions are handled at retail stores, therefore, retailers are increasingly required to enhance security for their staff, prevent robberies and optimize increasingly time-consuming and costly cash transactions. A cash-handling solution that addresses all of these challenges is key for today’s retailer.
Focus on specific cash-handling challenges:
Security risks: stores are at the greatest risk for theft and armed robbery. The 2011 Association Convenience Store Crime Survey has revealed that the number of convenience store robberies increased by 102% in the UK
Lost time: up to 15 minutes of lost time on average per shift change, with an additional 20 to 30 minutes for manual consolidation
Shrinkage: shrinkage-related losses vary from 0.3% to 2% of global turnover
High costs: back-office administration represents 72% of cash-handling costs