"Helping retailers reduce the labor necessary to manage their cash"

One of the most important aspects of the recent merger between APG Cash Drawer and Cash Bases is the intelligent cash handling solution SMARTtill, which will now also enter the North American market. iXtenso has talked to Stephen Bergeron, V.P. of Global Marketing at APG and Steve Roys, Sales Director at Cash Bases, about the potential for the solution in North America and the new products the companies will develop together.

Mr. Bergeron, why is it so important for APG to gain access to this technology?

Stephen Bergeron: APG believes that there is a tremendous opportunity for the SMARTtill solution on a worldwide base. Businesses in general are always looking for ways to control labor and reduce shrink and retailers are no exception. The SMARTtill solution is able to help retailers reduce the labor necessary to manage their cash, reduce the amount of cash that is in circulation across the enterprise and reduce shrink by as much as 90%. We believe that the SMARTTill solution is the most cost effective technology solution on the market today.

What potential do you see for SMARTtill solution in the North American market?

Bergeron: Our belief is that North America is ready for the SMARTtill solution. As part of the merger process, the APG management team was able to interview several members of the Cash Bases executive team. We also interviewed retail management and staff members at locations where the SMARTtill solution is installed. During these interviews we saw operational trends similar to those in the states. We believe the opportunity is significant, specifically in grocery, quick serve restaurant and convenience stores. These three verticals process approximately 30 percent to 40 percent of their transactions in cash and in the case of quick serve, 60 percent of all transactions under 10 dollars are cash. Retailers and restaurateurs alike will be able to enjoy significant labor savings and potential cash loss reduction of up to 90 percent. 

APG and CB will also work together to develop new cash handling solutions. In which direction will the R&D departments go here? 

Bergeron: Both companies have a long history of innovation - whether it’s the Cash Bases SMARTtill solution, APG’s suite of NetPRO interface enabled cash drawers, or the keyless cash drawer. The tradition of innovation will continue, and the combined companies will remain customer/industry centric. We will listen and develop products to the general demands/requirements of the specific vertical markets and when appropriate, the unique demands/requirements of specific retailers.  

Mr. Roys, can you tell us a little bit more about how the SMARTtill solution works?

Steve Roys: The SMARTtill solution immediately counts the cash contents of each individual coin and note compartment after every transaction. The information is then available electronically and can be used to automate, audit and improve store management, cash handling and loss prevention processes.

What exact benefits are there for retailers who use this technology?

Roys: Retailers no longer need to issue floats for each cashier, count their cash at the beginning or end of shift or perform random till checks. This can release significant cash into the business, and make many man hours available for redeployment to more productive or customer centric tasks. Reconciliation after each transaction reduces cash loss - typically up to 90 percent - significantly and reduces investigation time in the event of any remaining discrepancies. 

How do the product portfolios of APG and CB complement each other apart from this innovative solution? 

Roys: Cash Bases has focused on producing very high quality products that address specific retailer issues – typically adapting designs around particular space, security or content requirements for a specific retailer or sector. APG has focused on manufacturing a line of heavy and standard duty products of a more generic nature that fit well for providers wanting to offer a more limited product set to a wide variety of customers.  There is remarkably little overlap and the portfolios complement each other very well. 

Interview: Daniel Stöter, iXtenso.com

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