Retail
Every industry has unique challenges when it comes to cash automation management. The challenges don’t stop there as each business within an industry has its own unique needs in order to maintain and expand their customer base.
The Market
According to studies, consumers use cash for half of all of their transactions valued at less than $50, and they continue to use cash more frequently than any other payment instrument, including debit or credit cards.
Challenges
Counting and managing cash creates costs to retailers. Sales drive profitability, so retailers want technology to help free their staff so that they can focus on selling and providing customer service.
The core costs to retailers stem from:
- Labor Costs – time taken to count cash and balance the register,
- Armored Carrier - cash-in-transit charges (i.e. the frequency that an armored carrier visits the store), and
- Theft Risk – cash-handing risk and errors and access to cash in the store by employees.
Goals
Through the use of cash automation devices, retailers can:
- free up trapped cash,
- lower costs,
- reduce losses,
- reduce theft risk, and
- achieve faster access to funds, and improve information management.
Compuflex Can Help
Customize a solution by integrating our UCM solution with your existing retail application interface or manage your cash automation device using one of our core solutions. We can help you meet your goals.
