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struggling with cash handling efficiency
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The Problem
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Wasted labor and shrinkage were affecting Verizon Wireless stores.
AccuBANKER identified in the operated stores cash handling procedures that could be optimized and simplified. For instance, in a store with 4 cash
registers and $4,000 cash handling per day, the Office Manager consumed approximately 4 hours preparing and balancing tills, closing, grouping and
wrapping the bills for deposit. At random, margin errors and counterfeit losses affected the bottom line by % 0.3, raising operating costs even more.
Several times, managers had to work overtime to adjust and verify any conflicting cashier balance.
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The Solution
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The AB1100UV was the reliable, fast, and user-friendly solution. Along with the Add and
Batch function, the integrated ultraviolet counterfeit detection feature allows the user to identify any suspicious bill while counting.
High speed, emergency stop and one extra display are new added values incorporated in this model.
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The Results
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Minimized cash handling timeThis cost effective currency counter facilitated the
counting and batching process to set up and balance the tills as well as to close and wrap the notes at the end of the business day, reducing time
spent in cash handling tasks by 75%. Managers were able to leave on time enabling the Network Provider to save time and money. Counterfeit losses and
shortages extremely reduced. Verizon Wireless reduced 99.9% of human errors and counterfeit losses, allowing them to have smooth, secure, and
customer friendly cash transactions. AccuBANKER solution provided the peace of mind that Verizon Wireless needed.
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Industry:
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Specialty retailer
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Employees:
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55,700
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Operated Stores:
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2000
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Customers:
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51.3 million
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Revenue:
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$32.3 Billion
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Average per day, per store
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4 Cash Registers
$4,000 p/ closing
4 hours Handling Cash
$12 error margin and
counterfeit losses
AB1100UV Bill counter
with UV counterfeit
detection
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Savings:
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3 hours p/ closing
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Payback period:
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3 months
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Saving an average of $11.98 in forged bills and shortages per closing.
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