Company News • 23.03.2017

From counting cash to counting on operational excellence

The Costcutter store in Porthleven, UK, is a busy place, especially in the summer months when tourists flock to the seaside town

The staff were spending more than two hours daily counting money, calculating cash floats and topping up tills, which hurt productivity. With multiple cashiers using the same tills, it was difficult to hold anyone accountable for discrepancies.

To boost efficiency, the owner of the Porthleven Costcutter store started looking at new cash management options. It so happened Costcutter Supermarkets Group was trying out the SMARTtill™ Intelligent Cash Drawer from Cash Bases Ltd, a Newhaven, UK, company that merged with Minneapolis-based APG Cash Drawer in 2015. When the franchise’s owner saw the drawer in action, he liked what he saw and decided to deploy the SMARTtill™ solution.

A solution consisting of four 460 Flip Lid SMARTtill™ Intelligent Cash Drawers and the SMARTtill™ Manager application was deployed, replacing an older set of Cash Bases drawers.

Supplier
Logo: APG Cash Drawer

APG Cash Drawer

4 The Drove
BN9 0LA Newhaven
UK

Eating up time

Prior to the installation of the SMARTtill™ Solution, cash reconciliation consumed as much as two hours daily. It took 45 minutes to count cash, establish cash lift and top-up values, and reset the drawer’s inserts. At day’s end, cashiers would take the inserts up a set of stairs to a back office for counting. The inserts were then refilled with the next day’s cash floats.

When a cashier ran out of coins during the day, a supervisor would take a £20 note and exchange it for coins in the back room. “This involved running with money up and down the stairs, which is not very effective and it eats up time. This could happen up to 10 times in a day,” says store manager Andy Pengelly. At busy times, it interrupted customer service.

Another issue involved cash lifts. Three times a day, a supervisor would lift cash from the drawers, stuff it into envelopes, write down the amount and place it in a safe. The next day, the cash was fed through a mechanical note counter as part of the reconciliation process

Photo: From counting cash to counting on operational excellence...
Source: APG

Operational improvements

With the SMARTtill™ Solution in place, employees “don’t carry money around the store for counting purposes any­more,” says Mr. Pengelly. The SMARTtill™ Solution calcu­lates cash amounts, eliminating the need to remove indi­vidual coin and note inserts everyday, which saves time. The note counter has been retired.

“With the SMARTtill™ Intelligent Cash Drawer, any time cash goes in or out of the till, it is checked, counted and recorded. In the past, we only checked the till during the morning reconciliation,” Mr. Pengelly says. Now when reconciliation reports are printed out, they accurately show the real float value, and no longer the expected calculated cash value.

When a float top-up is needed, SMARTtill™ Manager software uses a traffic light-like system to tell a supervisor

a certain denomination is running low (yellow light) on any of the tills. “When he goes out to the checkouts next time, he picks up the needed cash and drops it into the till. This is preventative and causes no customer interruptions because change never runs out.”

In addition, the SMARTtill™ Cash Management Solution automatically records cash lifts and generates a report that goes in the envelope with the money. The report serves as a backup to daily reconciliation reports.

Photo: From counting cash to counting on operational excellence...
Source: APG

Cash Loss Solution

Even though the store didn’t have much of a cash loss problem, Mr. Pengelly says, company policy calls for investigating discrepancies of £5 or more. With multiple cashiers using the same till, it was hard to attribute a discrepancy to anyone. Even when consulting security CCTV footage, the culprit might not be obvious.

With the SMARTtill™ Solution in place, footage is time-stamped and store managers can quickly identify any till disputes in the CCTV footage — a task that normally would be laborious and consume many hours. That’s no longer an issue. The SMARTtill™ Solution keeps accurate counts and a record of who is using the till. “It is not about not trusting, but rather about genuine errors and supporting your staff,” he says. Mr. Pengelly expects the SMARTtill™ Intelligent Cash Drawer will reduce cash losses to zero.

The SMARTtill™ Solution also solves customer disputes. If a customer says he or she received change for, say, £10 instead of £20, the SMARTtill™ Manager software can tell immediately if the customer is right. In the past, the customer would be asked to come back the next day after reconciliation. It was inconvenient for customers and awkward for employees, but now the SMARTtill™ Solution serves as an independent witness.

Quick Installation

Installing the SMARTtill™ Solutions took one day. It started with the least busy POS and moved up to the busiest. “It was smooth without any disruption to cus­tomer service,” Mr. Pengelly says.

Staff training was a straightforward process, mostly involving cashiers adjusting to a new insert layout with different note and coin locations. They also had to learn a few new key commands, as well as changes to the float and cash lift processes.

“Employees embraced the solution because it saves time and speeds up transactions,” Mr. Pengelly says. “The SMARTtill™ Intelligent Cash Drawers haven’t changed their job at all, but now they get a receipt at the end of their shift showing them the accuracy of their job, which is a plus.”

Mr. Pengelly says the time savings made possible by the SMARTtill™ Solution has allowed him to reassign staff to other tasks he had to cram into his day. Overall, the SMARTtill™ Solution has been a positive addition, making the store more efficient and improving customer service. As such, Mr. Pengelly believes the Porthleven store will serve as a model for other Costcutter stores.

 

related articles:

popular articles:

Thumbnail-Photo: Digital Signage Summit Europe - 30 % discount...
07.06.2019   #customer analysis #marketing

Digital Signage Summit Europe - 30 % discount

Many of the world’s foremost digital signage experts, thought leaders and leading technology and service suppliers will come together to present a unique mix of keynotes, conference channels, awards and exhibition showcase.

Now in its 14th year, DSS Europe is the leading European strategy event exploring the business and technology of Digital Signage and DooH - here is a 30% code for our readers – 415839The theme of this year’s conference is ‘Customer ...

Thumbnail-Photo: Top 8 supply chain technology trends in 2019...
07.05.2019   #supply chain management (SCM) #artificial intelligence

Top 8 supply chain technology trends in 2019

Technologies that supply chain leaders simply cannot ignore

Gartner, Inc. has identified the top 8 supply chain technology trends in 2019.Gartner’s top strategic supply chain technology trends have broad industry impact, but have not yet been widely adopted. They might be experiencing significant ...

Thumbnail-Photo: Denmarks largest garden center chain is chasing a green profile...
26.06.2019   #sustainability #electronic shelf labels (ESL)

Denmark's largest garden center chain is chasing a green profile

Electronic shelf labels for paper reduction

Plantorama introduces electronic shelf labels in all stores, which significantly reduces the chain's paper consumption. The project will strengthen the chain's green profile and will have a positive influence on the customer experience and ...

Thumbnail-Photo: Tackling organized retail crime with video analytics...
26.06.2019   #video surveillance #digital video surveillance

Tackling organized retail crime with video analytics

Inpixon joins forces with National Anti-Organized Retail Crime Association

Inpixon, an indoor positioning and data analytics company, announced it is collaborating with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to combat retail crime by providing a free 90-day trial offer for IPA Video™ ...

Thumbnail-Photo: Nets and Swish partner on in-store payments pilot...
23.07.2019   #mobile payment #mobile terminals

Nets and Swish partner on in-store payments pilot

Bluetooth tech enables scalable instore payments for mobile payment app

Nets, a European payments company, and Swish, the number one payments app in Sweden, announce their collaboration on an in-store payments pilot program.Until now, Swish has mostly been used for account-to-account transactions and, more recently, ...

Thumbnail-Photo: Online inventory management system
06.05.2019   #online trading #e-commerce

Online inventory management system

5 things e-commerce retailers should look for

In order to perform online efficiently as an Internet retailer, one needs to choose the most effective inventory management system. Its main features should include centralised user interface, full automation, automated stock checking and ...

Thumbnail-Photo: Retail service robots – helper or footfall generator?...
22.07.2019   #pos marketing #services

Retail service robots – helper or footfall generator?

Using drag and drop to train the new coworker

Many of us know their faces, even if we have never met them in person. One of these faces belongs to Pepper, the humanoid robot. It has fast become a media star. ...

Thumbnail-Photo: U.S. merchants lack critical tools to fuel global expansion...
10.07.2019   #online trading #e-commerce

U.S. merchants lack critical tools to fuel global expansion

Top challenges: payment localization, compliance, and cybersecurity

Rapyd, a FinTech-as-a-Service provider, today announced the results of its inaugural ‘2019 State of Cross-Border eCommerce: U.S. Merchant Outlook’, which found that most U.S. business units (91 percent) prioritize cross-border sales as a ...

Thumbnail-Photo: When the product becomes the POS
19.08.2019   #mobile payment #pos systems

When the product becomes the POS

“Mobile-first” or the future of the Point of Sale

The classic Point of Sale means physical sales areas including a terminal, cash systems and queues. But this traditional image is changing. Nowadays many customers in brick-and-mortar retail outlets expect the same experience as online and require ...

Thumbnail-Photo: Introducing a new, powerful mobile POS in Posiflex’s MT series...
25.06.2019   #epos systems #cashpoints

Introducing a new, powerful mobile POS in Posiflex’s MT series

MT-5310W from Posiflex combines the mobility of a tablet with the functionality of a fixed POS terminal. .

Today’s customers have higher expectations than ever when it comes to service. To meet and exceed customers’ ever-growing expectations, Posiflex is pleased to present MT-5310W, the latest addition to the popular MT series: a hybrid ...

Supplier

APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen