Guest Column
Web-Based Cash Management Connectivity Guest Series Part 3
By Dave Lunn, sales & marketing director, Tellermate Group
In previous installments of this guest series, we discussed operational policies that improve cash control and made an ROI case for cash control solutions. This time, we're going to zero in on the cash management efficiencies enabled by modern Web-based technology.
For several years now, automated cash counting solutions have been helping retailers take giant leaps forward in terms of store-level operational efficiency and cash loss mitigation. As noted in the recent column (hyperlink to ROI piece) authored by our own Bob Brown, the simple implementation of a cash management solution typically allows a retailer to gain one hour of "hard labor savings" per day and win back two dollars per day in "hard expense recovery," per store, resulting in a 3- to 6-month payback. But in distributed retail settings, there existed plenty of room for improvement on the back end, where cash reporting and data entry into financial and related systems remained a somewhat manual process.
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