Bringing smart tills to a major UK retailer

The challenge

With £1.4 billion lost to the UK retail industry through cash shrinkage every year, many retailers are looking for more efficient and effective ways to handle cash. We’re working with our customers to help integrate smart till technology – so cash can be processed in stores faster, more securely and with less expense before being processed by Vaultex.

Our approach

Vaultex has worked with a customer to help them integrate a smart till system. We’re also able to accept mixed note deposits – removing the need to manually separate notes.

The process is simple. Stores remove cash pouches directly from their tills, complete a Bank Giro Credit slip and then put them both in a cash-in-transit bag. Vaultex does the rest. Easy. We collect and process mixed-note pouches from every single till, so our customer’s stores don’t need to count or separate notes.

The benefits

Time saved counting cash: The customer no longer has to sort and recount notes, saving time and back office costs.

Less forgeries: Our customer has eliminated the cost of accepting forgeries through use of the new smart till system, saving a six figure sum annually.

Operational improvements: Our expertise helped identify additional opportunities to make additional stores; including processing mixed note bags from self-service checkouts.

 

The process was a great example of collaborative working which has allowed us to develop a more efficient way of working and reduce the handling of cash at store level, giving both financial and functional benefits.

Retail Improvement Manager